Enjoy complimentary customisation on priority with our Enterprise License!
The smart home cameras market size is estimated to grow at a CAGR of 14.88% between 2022 and 2027. The market size is forecast to increase by USD 3,991.67 million. The growth of the market depends on several factors, including innovation and portfolio extension leading to the premiumization of products, rising adoption of smart home systems, and increasing Internet and smartphone penetration.
This smart home cameras market report extensively covers market segmentation by connectivity (wire-free smart home cameras and wired smart home cameras), distribution channel (offline and online), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
The rising adoption of smart home systems is notably driving the market growth, although factors such as lack of product awareness and penetration in developing markets impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the smart home cameras market growth is the rising adoption of smart home systems. There is an increasing demand for smart homes and smart home security across the world as it provides appropriate security facilities to homeowners including home security cameras, smart doorbells, intruder alarms, and smoke detectors which help to control, monitor and detect intruder presence with the help of motion sensors and detectors.
Hence, in the case of an intrusion or the presence of trespassers near the door, the smart home cameras notify the homeowners automatically. Due to its functionality, there is an increasing demand for smart home cameras globally. For instance, North America is one of the prominent regions in the smart home cameras market and the adoption of smart home cameras by 306 million households worldwide is anticipated to lead exponentially. Therefore, such factors are expected to drive the smart home camera market growth during the forecast period.
A key factor shaping the smart home cameras market growth is the rise in demand for technologically advanced home security products. Smart-connected cameras are gaining attention in developing the advanced experience of home monitoring of households, especially in the home security and surveillance category. There is an increasing demand for affordable smart home cameras from customers which provide extreme security, convenience of use, reliability, and durability.
Thus, there is a growing focus on product innovation and enhancement of features and functionality of smart home cameras by different vendors across the world. Some of the additional benefits companies are providing in the smart home cameras segment include weatherproofing, cloud storage of videos, wireless connection (battery-operated cameras), enhanced night vision, and more cloud storage for surveillance videos. Hence, such innovations are expected to drive the smart home camera market growth during the forecast period.
Lack of product awareness and penetration in developing markets is one of the key challenges hindering the smart home cameras market growth. Even though, smart home camera products have been widely used in developed nations, the penetration of smart home cameras in the residential areas of some of the developing markets, such as APAC, Latin America, and Eastern Europe, continues to be comparatively lower than in the developed markets.
Additionally, the adoption of smart home automation systems is lower in developing countries when compared to developed countries. For example, the penetration of smart home camera products is low in countries such as India, Indonesia, and Thailand are some of the APAC countries as the homeowners are not aware of the benefits that are served by these products for home security and surveillance. Thus, such factors can significantly pose a threat to the smart home cameras market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Smart Home Cameras Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
56 AI Technologies Pvt Ltd: The company offers smart home cameras such as Blink outdoor wireless, weather-resistant HD security cameras with motion detection.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the wire-free smart home cameras segment will be significant during the forecast period. One of the key features of the wireless smart home camera is that it offers batteries that have a life of five to seven months. There is a growing popularity for wireless smart home cameras among tech-savvy customers who want portability and easy usage of home cameras as these cameras can be moved from one room to another as they are wire-free and easily movable.
Get a glance at the market contribution of various segments View the PDF Sample
The wire-free smart home cameras segment was valued at USD 1,564.09 million in 2017 and continued to grow until 2021. Due to the emergence of technological advancements in smart home cameras, vendors are prioritizing developing innovative cameras. For example, a vendor named Haines Aircraft Inc offers AlkiVision Security, which is a smart home camera that is operated with the help of batteries. 1080p HD Night Vision Wi-Fi Wireless Cameras for Home Security, Waterproof Surveillance Camera with Motion Detection, 2-Way Audio, Rechargeable Battery, and SD Storage. Another factor that increases the demand for smart home cameras is the growing popularity of smart home cameras equipped with technologies such as near-field communication (NFC), ZigBee, and Z-wave. Thus, such innovations are expected to drive the smart home camera market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US is one of the prominent markets in North America, followed by Canada and Mexico as a significant number of smart home cameras are being sold through offline channels such as hypermarkets, department stores, and speciality stores. Some of the key vendors in the North American smart home cameras market include Honeywell International Inc., NETGEAR Inc., Alphabet Inc. (Nest Labs), and Amcrest Technologies LLC. Many of the vendors are prioritizing modern design concepts and add-on security features in their products as the customers are ready to spend on superior quality home security and surveillance products such as smart home cameras to secure their homes irrespective of their presence or absence on the premises. Thus, such factors are expected to drive the smart home cameras market in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the smart home cameras market witnessed a significant slowdown due to disruptions in the supply chains, resulting in less availability of smart home camera installation services in North America. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of manufacturing operations and restoration of supply chains, which in turn, led to the rise in demand for smart home cameras in North America. Such factors are expected to drive the market during the forecast period.
The smart home cameras market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global smart home cameras market as a part of the global consumer electronics market within the global household durables market. The parent global consumer electronics market covers products and companies engaged in manufacturing/marketing consumer robotics, home audio and video products, televisions, digital cameras, and related products. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
|
Smart Home Cameras Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
161 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 14.88% |
|
Market growth 2023-2027 |
USD 3,991.67 million |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
14.17 |
|
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 38% |
|
Key countries |
US, Canada, China, India, and Germany |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
56 AI Technologies Pvt Ltd., ADT Inc., Alarm.com Holdings Inc., Alphabet Inc., Amazon.com Inc., Arlo Technologies Inc., Comcast Corp., D Link Corp., Deep Sentinel Corp., Frontpoint Security Solutions LLC, Hangzhou Hikvision Digital Technology Co. Ltd., Monitronics International Inc., Resideo Technologies Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., SimpliSafe Inc., Skylink Group, Vivint Inc., Wyze Labs Inc., and Zmodo Technology Corp. Ltd. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Connectivity
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
