How Has the Smart Home Security Camera Market Size Evolved in Recent Years?
The smart home security camera market has seen considerable growth due to a variety of factors.
• The smart home security camera market has experienced strong growth in recent years. It will increase from $6.56 billion in 2024 to $6.98 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%.
Factors contributing to this growth include urbanization, lower production costs, increased awareness of home security, and the rise of smart home ecosystems.
What Are The Predictions for The Smart Home Security Camera Market in the Coming Years?
The smart home security camera market is expected to maintain its strong growth trajectory in upcoming years.
• The smart home security camera market is expected to see strong growth, reaching $9.05 billion by 2029 at a CAGR of 6.7%.
The growth is attributed to IoT integration, AI and machine learning, privacy regulations, remote monitoring, and personalization. Trends include sustainability, health monitoring, edge computing, enhanced cybersecurity, and integration with autonomous systems.
Which Drivers Are Accelerating Growth In The Smart Home Security Camera Market?
The surge in criminal activities is predicted to fuel the expansion of the smart home security camera market. These activities are measured statistically to determine the occurrence and regularity within a specific geographical location or jurisdiction over a particular time frame. The escalation in crime rates can be traced back to elements such as socio-economic disparities, urbanisation, drug-related activities, and inadequate law enforcement resources. Smart home security cameras are instrumental in mitigating crime by acting as a conspicuous deterrent, allowing real-time surveillance, and aiding in the identification and arrest of criminals through archived video footage. For example, in April 2024, data from Eurostat, an EU statistical office situated in Luxembourg, revealed a 17.9% surge in police-reported thefts in the European Union in 2022 compared to 2021. This was seen in 26 out of 27 countries. Concurrently, police-reported robberies increased by 9.7% in the EU between 2021 and 2022, with 20 out of 27 nations noting the rise, while burglaries climbed by 7.4%, reported by 17 out of 24 countries. Hence, the escalation in crime rates is fuelling the smart home security camera market's growth.
What Are The Core Segments Of The Global Smart Home Security Camera Market?
The smart home security camera market covered in this report is segmented –
1) By Product: Wired, Wireless
2) By Resolution: HD, Non-HD
3) By Distribution Channel: Online, Offline
4) By Applications: Doorbell Camera, Indoor Camera, Outdoor Camera
Subsegments:
1) By Wired: Analog Wired Cameras, IP Wired Cameras, PoE (Power Over Ethernet) Cameras
2) By Wireless: Wi-Fi Cameras, Bluetooth Cameras, Battery-Operated Cameras, Cloud-Based Cameras
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What Emerging Trends Are Influencing The Growth Of The Smart Home Security Camera Market?
Leading businesses in the smart home security camera market are creating innovative 360° home security cameras with enhanced features like two-way voice calling support to strengthen their position in the market. This additional feature escalates the safety, ease, and connectivity provided by smart home security cameras, allowing homeowners to constantly track and communicate with their home surroundings whether they are at home or on the move. For example, Xiaomi Inc., a Chinese electronics firm, unveiled the Mi 360° Home Security Camera 2K in January 2024. This distinct camera offers superior 2K image quality and improved AI, providing superior surveillance functions for homes. With a 3-megapixel sensor and a wide F1.4 aperture, it delivers detailed images even in poorly lit conditions, while the enhanced 6P lens offers sharper visuals by minimizing light refraction. Additionally, it comes with an upgraded infrared night vision, AI-powered human detection, and uninterrupted monitoring through a 360° panoramic view. Users can engage in real-time, two-way voice calls and conserve storage thanks to an advanced video encoding technology.
Who Are the Key Players In The Smart Home Security Camera Market?
Major companies operating in the smart home security camera market are:
• Amazon.com Inc.
• Alphabet Inc.
• Samsung Electronics Co. Ltd.
• Comcast
• Robert Bosch
• Panasonic Holdings Corporation
• Xiaomi Inc.
• Honeywell International Inc.
• Hangzhou Hikvision Digital Technology Co. Ltd.
• Motorola Solutions Inc.
• ADT Inc.
• Vivint Smart Home Inc.
• Netgear
• Alarm.com
• Brinks Home Security
• Arlo Technologies Inc.
• SimpliSafe Inc.
• D-Link Global
• Wyze Lab Inc.
• Frontpoint Security Solution LLC
• Skylinkhome
• Shenzhen Leshi Video Tech. Co. Ltd.
• Eufy Anker Innovations
• Zmodo Direct Electronics
• Godrej Security Solutions
What Are The Regional Insights Into The Smart Home Security Camera Market?
North America was the largest region in the smart home security camera market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart home security camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
