Smart Home Security Camera Market

Global Smart Home Security Camera Market Research Report: By Technology (Wired, Wireless), By Application (Doorbell Camera, Indoor Camera, Outdoor Camera), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

ICT & Media | January 2024 | Report ID: EMR00517 | Pages: 301

The global smart home security camera market was valued at USD 7.62 billion in 2024 and is estimated to reach approximately USD 24.31 billion by 2032, at a CAGR of 19.31% from 2024 to 2032.

Smart home security cameras include Wi-Fi connections, allowing the homeowner to watch and manage the camera's recordings and functionalities remotely using a smartphone app. It allows to upload footage to the cloud for storage, eliminating the need for a potentially complicated on-site storage arrangement. There are various types of smart home security cameras on the market, including adjustable cameras, motion detection cameras, outdoor cameras, and inside cameras.

 

 

SMART HOME SECURITY CAMERA MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

USD 7.62 Billion

Projected Market Value (2032)

USD 24.31 Billion

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Technology, By Application& Region

Segments Covered

By Technology, By Application& Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Smart Home Security Camera Market Drivers:

  • Enhanced connectivity and security in real-time

Incorporating IoT into technologically driven products simplifies life, makes it safer, and more secure, resulting in the expansion of the smart home security camera market. Smart home security cameras offer several advantages, including real-time monitoring, quick accessibility, and the ability to send alarms during crises or dangerous circumstances. As a result, the world's urban population is increasingly interested in obtaining smart home security cameras. The availability of smart home security cameras and their ease of installation boosts demand. Manufacturers of smart home security cameras are outfitting doorbell cameras, indoor cameras, and outdoor cameras with unique, task-specific features.

 

Opportunities:

  • Technological advancements in smart home security camera

Smart cameras enable high-resolution video capture, night vision, and seamless integration with larger smart home ecosystems. This integration is consistent with the broader trend of embracing smart home technologies, giving users centralized management over their security systems and increasing overall ease. Furthermore, the usefulness of smart home security cameras as visible deterrents has resonated powerfully with customers, resulting in broad adoption. These systems not only act as attentive guardians, but they also provide remote monitoring and fast alerts, giving homeowners a sense of control and awareness even while they are away from home.

 

Restraints:

  • High cost of smart home security camera

Smart home security cameras face two major challenges: privacy and affordability of smart cameras. Outdoor smart home security cameras are expensive and run a high risk of being damaged by thieves. This has deterred people from purchasing outside smart home security cameras. Additionally, hackers can gain access to the cameras and use the acquired photographs for harmful purposes. Furthermore, the exterior camera can gain access to the home's environment, jeopardizing local security. Incorrect use of facial recognition technology can potentially lead to theft and property damage.

 

Segment Overview

  • By Technology

Based on technology, the global smart home security camera market is divided into wired, wireless. The wired segment dominated the market in 2023 and is expected to dominating during the smart home security camera market in forecast period, due to the growing popularity of wired security systems can be ascribed to their long-term cost-effectiveness, which comes from lower maintenance requirements. This economic advantage is a key reason pushing their acceptance. Wired solutions improve reliability by avoiding potential issues with Wi-Fi connectivity or battery life. Even during a Wi-Fi failure, these cameras continue to operate, collecting footage locally and providing constant surveillance.

  • By Application

Based on application, the global smart home security camera market is fragmented into doorbell camera, indoor camera, and outdoor camera. The indoor camera segment dominated the global smart home security camera market in 2023. This is attributed to the number of theft and burglary cases has increased, raising public awareness of the significance of securing one's home from criminal activity. Indoor smart cameras include a number of features, including instant messaging in the event of a theft, alarm activation, and movement and behavior identification, which has led to their widespread use in a variety of applications. These cameras are critical for monitoring homes while people are away, such as on vacation or at work. They provide reassurance by letting homeowners to monitor the security of their property and receive alerts about package deliveries or other unexpected events.

 

Global Smart Home Security Camera Market Overview by Region

North America dominated the smart home security camera market in 2023. This is owing to the fast integration of IoT technologies into smart homes is a significant driving force. This technological development is driving consumers away from traditional mountable Wi-Fi cameras and toward advanced smart home security cameras, which offer benefits such as easy installation and extensive accessibility. The growing emphasis on house remodeling initiatives, along with an increased interest in smart home gadgets, is providing profitable market opportunities. The attractiveness of technologically advanced security cameras with features such as motion detection during periods of house vacancy is particularly strong in the market. Furthermore, the increasing usage of home automation systems has a significant impact on the demand for smart home security cameras in the US. Integration with other smart devices and platforms enables seamless control and monitoring, which enhances the entire smart home experience.

 

 

Global Smart Home Security Camera Market Competitive Landscape

In the global smart home security camera market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global smart home security camera market include ADT Corporation, Vivint Smart Home Security, Ring, SimpliSafe, Samsung, Robert Bosch, Frontpoint Security Solutions, Protect America, Honeywell International, Hangzhou Hikvision Digital Technology, and others.

 

Global Smart Home Security Camera Market Recent Developments

  • In June 2023, The Xiaomi Outdoor Camera AW300, equipped with advanced security features, includes night vision capabilities with a pair of bright white and infrared lights. This innovative function ensures clear and detailed visuals even in complete darkness, making it an effective solution for enhanced surveillance. Additionally, the camera features an intercom system for added convenience.
  • In September 2023, Eufy Security, a smart home security brand affiliated with Anker Innovations, has unveiled a range of dual-camera devices, pioneering the world's initial home surveillance mesh driven by local AI. This groundbreaking lineup features cameras equipped with wide-angle and telephoto lenses, enhancing the overall surveillance capabilities of these devices.
  • In March 2023, Google collaborated with ADT to introduce a DIY home security system called ADT Self-Setup. This innovative package empowers users to select from various Google smart home gadgets to enhance their home security. All the chosen devices seamlessly integrate with the ADT+ smartphone app, providing users with comprehensive support for their home security needs.
  • In May 2023, ADT Inc. introduced an outdoor Wi-Fi camera with advanced features as part of its Smart Home security system. It has two-way audio functionality, enabling communication with individuals in the camera's vicinity. The camera offers full-color HD video footage with night vision capability for low-light conditions.
  • In May 2022, Vivint Smart Home, Inc. unveiled a suite of innovative products aimed at elevating its distinctive smart home experience and introducing intelligent solutions that redefine the benchmarks for smart homes. The offerings included the Doorbell Camera Pro, Outdoor Camera Pro, Spotlight Pro, and Indoor Camera Pro.

 

Scope of the Global Smart Home Security Camera Market Report

Smart Home Security Camera Market Report Segmentation

ATTRIBUTE

DETAILS

By Technology

  • Wired
  • Wireless

By Application

  • Doorbell Camera
  • Indoor Camera
  • Outdoor Camera

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Smart Home Security Camera Market Size and Forecast: To identify and estimate the market size for the global smart home security camera market segmented by technology, by application, & region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of smart home security camera between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global smart home security camera market
  • Market Influencing Factors: To find out the factors which are affecting the sales of smart home security camera among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global smart home security camera market affected by the pandemic
  • Company Profiling: To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The global smart home security camera market forecast period is 2024 - 2032.
According to smart home security camera market research, the market is expected to grow at a CAGR of 19.31% over the coming years.
Asia Pacific is expected to register the highest CAGR during 2024 - 2032.
North America held the largest share in 2023.
The major players operating in the global smart home security camera market include ADT Corporation, Vivint Smart Home Security, Ring, SimpliSafe, Samsung, Robert Bosch, Frontpoint Security Solutions, Protect America, Honeywell International, Hangzhou Hikvision Digital Technology, and others.