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The wireless home security camera market is estimated to grow at a CAGR of 13.34% between 2022 and 2027, and the size of the market is forecasted to increase by USD 753.58 million. The growth of the market depends on several factors, such as innovation and portfolio extension leading to the premiumization of products, rising adoption of smart home systems, and increasing Internet and smartphone penetration.
This report extensively covers market segmentation by distribution channel (offline and online), application (indoor and outdoor), 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.
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The 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 Wireless Home Security Camera Market Customer Landscape
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.
The rising adoption of smart home systems is driving market growth. Smart homes digitize key categories such as energy management, home appliances, security and control systems, and other appliances and equipment. The adoption of smart homes is increasing globally. Smart home systems provide appropriate security facilities to homeowners. Wireless home security cameras help control, monitor, and detect intruder presence with the help of motion sensors and detectors. They automatically notify homeowners in case of an intrusion or the presence of trespassers.
The wireless home security camera market is expected to witness exponential growth across different regions during the forecast period, with North America being one of the leading regions. Europe is another leading region in the market owing to improved living standards and high disposable incomes. The growth in demand for high-end smart connected products, such as wireless home security cameras across different regions will drive the growth of the global wireless home security camera market during the forecast period.
The rise in demand for technologically advanced home security products is a key trend shaping the market. Smart-connected wireless home security cameras are gaining traction in the home security and surveillance category. The demand for affordable wireless home security cameras is increasing due to security, convenience, reliability, and durability. Therefore, players are focusing on product innovation and enhanced features and functionality of wireless home security cameras. Additional benefits of wireless home security cameras include weatherproofing, cloud storage of videos, wireless connection, and enhanced night vision.
Many products offered by vendors have advanced features. For instance, NETGEAR offers Arlo, a wire-free smart home camera that provides high-definition (HD) video quality, motion alerts, enhanced night vision, and free cloud storage. Thus, the development of technologically advanced products will support the growth of the global wireless home security camera market during the forecast period.
The presence of counterfeit and low-quality products is challenging market growth. Unorganized players offer low-priced counterfeit products when compared to original products by established brands. Hence, the availability of counterfeit products is high in developing countries such as China. Global players face high competition from such players. Unorganized manufacturers that develop counterfeit products are not registered with the government. These players offer similar products to those offered by major players.
Many customers in developing economies do not prefer to invest in branded wireless home security cameras due to the proliferation of such low-cost, low-quality counterfeit products. These players have a significant market share in developing economies due to the low investment and operating costs required, which directly impacts product pricing. Therefore, stiff competition from counterfeit players is challenging the growth of the global wireless home security camera market.
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.
ADIANCE TECHNOLOGIES PVT. LTD. - The company offers wireless home security cameras with 5G connection, Wi-Fi, and cloud-based surveillance. It offers products such as thermal cameras, Cloud XVR cameras, ANPR bullet cameras, and 4K cameras.
Arlo Technologies Inc. - The company offers wireless home security cameras such as Ultra 2 and Arlo Ultra 2 Wireless Security Camera. It also offers a range of products and services such as wireless security cameras, doorbells, and security lights, among others.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
The report offers clients a deeper understanding of the market and its players through a combined qualitative and quantitative analysis of the vendors. The analysis classifies vendors into categories based on their business approach, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak to understand the dos and don’ts of business which in turn can help a client make the best decision.
The offline segment will account for a significant share of market growth during the forecast period. Wireless home security cameras are generally sold through offline distribution channels, which include retail formats such as specialty stores, hypermarkets, department stores, and warehouse clubs. Specialty stores offer a variety of brands and product portfolios. They include brand-specific units or multi-branded units and sell similar types of products across multiple outlets. Department stores offer a large portfolio of products and provide personal assistance to consumers. Hypermarkets, supermarkets, and convenience stores offer products at lower prices.
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The offline segment was valued at USD 342.41 million in 2017 and continued to grow until 2021. Several local brands are venturing into the market. A majority of the revenue is generated through unorganized sectors and local brands, especially in emerging markets of APAC. Consumers trust physical stores within their geographic proximity more than online stores. Therefore, the offline segment is expected to witness growth during the forecast period.
The indoor segment will account for a significant share of market growth during the forecast period. Indoor cameras are small and compact and can be installed in homes to monitor indoor activities. They can be controlled through a mobile app, and users can monitor their homes remotely, receive alerts, and view recorded footage. The demand for indoor wireless home security cameras has been growing due to various factors, such as the growing need for home security and surveillance, advances in technology, and the decreasing cost of wireless cameras. Therefore, the indoor segment is expected to grow during the forecast period.
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North America is estimated to contribute 39% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
The growth of the market in North America is driven by factors such as the increasing consumer inclination toward advanced home security systems. The rising disposable income and an increasing number of homeowners adopting home security systems are also driving the growth of the regional wireless home security camera market. The region is home to several smart home solution providers, which provide various types of wireless home security cameras at competitive prices. These firms cater to a large number of customers located across North America. Such factors are expected to drive the growth of the wireless home security camera market in North America during the forecast period.
In 2020 and the first half of 2021, due to the outbreak of COVID-19, the global wireless home security camera market witnessed slow growth. However, in 2021, owing to the initiation of large-scale COVID-19 vaccination drives, governments of various countries removed lockdowns and travel restrictions, which resulted in the restoration of supply chains and the resumption of manufacturing activities. Moreover, advancements in technology such as AI and cloud computing, increasing consumer awareness about home security, and integration of IoT and voice assistants will contribute to the growth of the global wireless home security camera market during the forecast period.
The wireless home security camera 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.
Wireless Home Security Camera Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.34% |
Market growth 2023-2027 |
USD 753.58 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
12.2 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 39% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ADIANCE TECHNOLOGIES PVT. LTD., ADT INC., Amazon.com Inc., Arlo Technologies Inc., Deep Sentinel Corp., EZVIZ Inc., Frontpoint Security Solutions LLC, Honeywell International Inc., LaView Eagle Eye Technology Inc., Reolink, Secureye, SimpliSafe Inc., Wyze Labs Inc., Zmodo Technology Corp. Ltd., and Vivint Inc. |
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 the 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. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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