Smart Home Security Camera Products Market Size, Share, & Trends Analysis Report (2023 – 2030)

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Report Overview

The global smart home security camera products market was valued at USD 11.1 billion in 2022 and is projected to reach USD 23.3 billion by 2030, growing at a CAGR of 9.1% over the forecast period. The growing demand for home security cameras is attributed to the increasing security concerns, technological advancements, and growing adoption of home automation. Smart home security cameras are equipped with features such as motion sensing, two-way audio, night vision, and cloud storage, which are gaining increasing popularity among end-users.

The growing trend of DIY (Do-It-Yourself) installation has gained traction among consumers due to the availability of user-friendly and cost-effective products. Additionally, various vendors are providing subscription-based services that enable customers to access recorded footage for a certain period. The subscription-based service model is gaining traction among customers owing to the increasing demand for advanced features such as facial recognition.

Furthermore, the increasing adoption of AI-enabled cameras is driving the market growth. For instance, in March 2021, Amazon launched the Cloud Cam, an AI-enabled security camera with facial recognition and a mobile application that offers real-time notifications. The new product also comes with a free 30-day cloud storage trial.

Moreover, the increasing popularity of voice-controlled smart home devices is creating new opportunities for the market. For instance, in March 2021, Nest launched its new Nest Cam Outdoor security camera that is compatible with Amazon Alexa and Google Assistant. The new product allows users to control the camera with their voice and view live streaming on their Alexa or Google Home device.

Furthermore, the introduction of cloud-based services is driving the growth of the market. For instance, in October 2021, Bosch launched a cloud-based service for its line of home security cameras. The new service enables users to access their camera’s recorded footage from any device, anytime, anywhere. This is expected to further drive the market growth in the coming years.

Product Insights

The indoor security segment held the largest share in the global smart home security camera market in 2022. Indoor security cameras offer a range of features, such as two-way audio, facial recognition, motion detection, and night vision, that make them a preferred choice among consumers. Furthermore, the introduction of smart home security cameras with artificial intelligence (AI) capabilities is expected to further increase the demand for the product among end-users.

The outdoor security segment is projected to expand at the fastest CAGR of 24.4% over the forecast period due to the increasing demand for outdoor surveillance cameras for home security. According to an article published by the Huffington Post in May 2020, outdoor security cameras can offer relief from the fear of intruders, as they can detect motion and alert the user in time. Furthermore, the ease of installation and the availability of smart outdoor security cameras with features such as facial recognition and motion detection are expected to propel the market growth in the coming years.

Distribution Channel Insights

The offline retailers segment held the largest share of the smart home security camera market in 2022. Offline retail stores offer customers an opportunity to inspect the product before purchase. Furthermore, brick and mortar stores have a wide range of product offerings and provide a more personalized shopping experience, which makes them more appealing to customers. In addition, customers can get detailed knowledge about the product from the store attendant, which helps them make an informed decision.

The online segment is anticipated to expand at the highest CAGR of 16.2% over the forecast period. The rapid growth of the segment is attributed to the increasing availability of smart home security cameras on e-commerce sites. Furthermore, online retailers offer competitive prices and discounts, which attract consumers to purchase the product online. Additionally, online stores provide detailed product information, customer reviews, and ratings, which assist customers in making informed purchasing decisions.

Type Insights

The wireless segment held the largest revenue share of the global market in 2019. This is attributed to the increasing demand for portable and easy-to-install devices among consumers. The increasing demand for wireless security cameras is attributed to their high installation speed, which requires no additional wiring. Moreover, the use of wireless technology has made them cost effective as they require no additional wires or cords.

The wired segment is projected to expand at the highest CAGR of 8.5% during the forecast period. This is attributed to the increasing demand for reliable and efficient security solutions. Wired security cameras are more reliable as compared to the wireless ones, as they have a stronger signal strength due to the wired connection. Moreover, they provide better clarity, which makes them ideal for commercial applications.

Regional Insights

North America is expected to account for the largest market share of more than 44.3% in 2022. The presence of several prominent players in the region, such as ADT Corporation, Honeywell International Inc., and Nest Labs, is a major factor driving the regional market. In addition, the increasing adoption of smart home security camera products in the U.S. is also contributing to the growth in the region. For instance, in December 2021, Amazon launched the Ring Always Home Cam, a security drone that can fly around the house and capture videos.

Europe is expected to follow North America and witness the second-highest growth in the coming years. The strong presence of the market players such as Bosch Security Systems, Samsung Electronics Co., Ltd., and ASSA ABLOY AB is a major factor driving the market in the region. Furthermore, the increasing demand for smart home products due to the rising awareness of home automation is also driving the growth in the region. For instance, in March 2022, Vivint Smart Home announced the launch of its home security system product, Vivint Smart Home Security, in the U.K.

Financial Projections

In this part of the smart home security camera products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your smart home security camera products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a smart home security camera products business comes from the sales of cameras, subscriptions, and partnerships. Here you will find a list with a description of each of these, as well as any other possible sources of profit such as product installation and maintenance services.

Projecting Expenses
In this section, all the regular expenses related to keeping the smart home security camera products business running will be described. The list of operating expenses includes product development, marketing and advertising, IT infrastructure and software, payroll, office rent and utilities, insurance policies, and others.

Key companies & market share insights

Some of the key companies operating in the smart home security camera market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In September 2022, Google launched the Nest Cam IQ Outdoor camera, an outdoor surveillance camera that can detect and identify people.

– In October 2022, Arlo Technologies launched the Arlo Pro 3 camera, a wire-free camera with advanced motion detection and customizable activity zones.

– In August 2022, Netgear launched the Arlo Ultra 4K camera, a high-end camera that offers a wider field of view and advanced motion and sound detection capabilities.

Some of the prominent players in the smart home security camera market include:

– Arlo Technologies, Inc.
– Google LLC
– Netgear, Inc.
– Amazon.com, Inc.
– Logitech International S.A.
– Swann Communications Pty Ltd
– Samsung Electronics Co. Ltd.
– Lorex Technology Inc.
– D-Link Corporation
– Hikvision Digital Technology Co., Ltd.

Global Smart Home Security Camera Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global smart home security camera products market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Wi-Fi Cameras
– IP Cameras
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

Frequently Asked Questions

[Q]: What are the Major Drivers of the Smart Home Security Camera Market?
[A]: The growing adoption of the internet of things (IoT) in residential and commercial applications has been a major driver of the smart home security camera market. The increasing demand for advanced surveillance solutions and the need for real-time monitoring are also expected to drive the market. The growing security concerns and the increasing preference for wireless cameras are other factors that are expected to drive the market.

[Q]: What are the Major Restraints on the Smart Home Security Camera Market?
[A]: The high cost of smart home security cameras, privacy issues associated with video surveillance, and lack of awareness about the product are some of the major restraints on the market.

[Q]: What are the Major Opportunities for Smart Home Security Camera Companies?
[A]: Companies in the smart home security camera market have the opportunity to capitalize on the growing trend of DIY installation. Furthermore, there is a larger market opportunity in developing countries, where the concepts of smart home security are still in its infancy.

[Q]: Who are the Major Players in the Smart Home Security Camera Market?
[A]: Major players in the market include Nest Labs Inc, Honeywell International Inc., Bosch Security Systems Inc., Samsung Electronics Co. Ltd., Flir Systems Inc., Axis Communications AB, United Technologies Corporation, and Tyco International PLC.

[Q]: What is the Regional Outlook for the Smart Home Security Camera Market?
[A]: The market for smart home security cameras is expected to be driven by North America, which is estimated to account for a major share of the global market. This can be attributed to the presence of major players in the region and the increasing demand for advanced security solutions. The market in Asia Pacific is expected to register the highest growth rate over the forecast period. This can be attributed to the increasing demand for connected home devices in the region.

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Smart Home Security Camera Products Market Size, Share, & Trends Analysis Report (2023 – 2030)

Report Overview

The global smart home security camera products market was valued at USD 11.1 billion in 2022 and is projected to reach USD 23.3 billion by 2030, growing at a CAGR of 9.1% over the forecast period. The growing demand for home security cameras is attributed to the increasing security concerns, technological advancements, and growing adoption of home automation. Smart home security cameras are equipped with features such as motion sensing, two-way audio, night vision, and cloud storage, which are gaining increasing popularity among end-users.

The growing trend of DIY (Do-It-Yourself) installation has gained traction among consumers due to the availability of user-friendly and cost-effective products. Additionally, various vendors are providing subscription-based services that enable customers to access recorded footage for a certain period. The subscription-based service model is gaining traction among customers owing to the increasing demand for advanced features such as facial recognition.

Furthermore, the increasing adoption of AI-enabled cameras is driving the market growth. For instance, in March 2021, Amazon launched the Cloud Cam, an AI-enabled security camera with facial recognition and a mobile application that offers real-time notifications. The new product also comes with a free 30-day cloud storage trial.

Moreover, the increasing popularity of voice-controlled smart home devices is creating new opportunities for the market. For instance, in March 2021, Nest launched its new Nest Cam Outdoor security camera that is compatible with Amazon Alexa and Google Assistant. The new product allows users to control the camera with their voice and view live streaming on their Alexa or Google Home device.

Furthermore, the introduction of cloud-based services is driving the growth of the market. For instance, in October 2021, Bosch launched a cloud-based service for its line of home security cameras. The new service enables users to access their camera’s recorded footage from any device, anytime, anywhere. This is expected to further drive the market growth in the coming years.

Product Insights

The indoor security segment held the largest share in the global smart home security camera market in 2022. Indoor security cameras offer a range of features, such as two-way audio, facial recognition, motion detection, and night vision, that make them a preferred choice among consumers. Furthermore, the introduction of smart home security cameras with artificial intelligence (AI) capabilities is expected to further increase the demand for the product among end-users.

The outdoor security segment is projected to expand at the fastest CAGR of 24.4% over the forecast period due to the increasing demand for outdoor surveillance cameras for home security. According to an article published by the Huffington Post in May 2020, outdoor security cameras can offer relief from the fear of intruders, as they can detect motion and alert the user in time. Furthermore, the ease of installation and the availability of smart outdoor security cameras with features such as facial recognition and motion detection are expected to propel the market growth in the coming years.

Distribution Channel Insights

The offline retailers segment held the largest share of the smart home security camera market in 2022. Offline retail stores offer customers an opportunity to inspect the product before purchase. Furthermore, brick and mortar stores have a wide range of product offerings and provide a more personalized shopping experience, which makes them more appealing to customers. In addition, customers can get detailed knowledge about the product from the store attendant, which helps them make an informed decision.

The online segment is anticipated to expand at the highest CAGR of 16.2% over the forecast period. The rapid growth of the segment is attributed to the increasing availability of smart home security cameras on e-commerce sites. Furthermore, online retailers offer competitive prices and discounts, which attract consumers to purchase the product online. Additionally, online stores provide detailed product information, customer reviews, and ratings, which assist customers in making informed purchasing decisions.

Type Insights

The wireless segment held the largest revenue share of the global market in 2019. This is attributed to the increasing demand for portable and easy-to-install devices among consumers. The increasing demand for wireless security cameras is attributed to their high installation speed, which requires no additional wiring. Moreover, the use of wireless technology has made them cost effective as they require no additional wires or cords.

The wired segment is projected to expand at the highest CAGR of 8.5% during the forecast period. This is attributed to the increasing demand for reliable and efficient security solutions. Wired security cameras are more reliable as compared to the wireless ones, as they have a stronger signal strength due to the wired connection. Moreover, they provide better clarity, which makes them ideal for commercial applications.

Regional Insights

North America is expected to account for the largest market share of more than 44.3% in 2022. The presence of several prominent players in the region, such as ADT Corporation, Honeywell International Inc., and Nest Labs, is a major factor driving the regional market. In addition, the increasing adoption of smart home security camera products in the U.S. is also contributing to the growth in the region. For instance, in December 2021, Amazon launched the Ring Always Home Cam, a security drone that can fly around the house and capture videos.

Europe is expected to follow North America and witness the second-highest growth in the coming years. The strong presence of the market players such as Bosch Security Systems, Samsung Electronics Co., Ltd., and ASSA ABLOY AB is a major factor driving the market in the region. Furthermore, the increasing demand for smart home products due to the rising awareness of home automation is also driving the growth in the region. For instance, in March 2022, Vivint Smart Home announced the launch of its home security system product, Vivint Smart Home Security, in the U.K.

Financial Projections

In this part of the smart home security camera products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your smart home security camera products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a smart home security camera products business comes from the sales of cameras, subscriptions, and partnerships. Here you will find a list with a description of each of these, as well as any other possible sources of profit such as product installation and maintenance services.

Projecting Expenses
In this section, all the regular expenses related to keeping the smart home security camera products business running will be described. The list of operating expenses includes product development, marketing and advertising, IT infrastructure and software, payroll, office rent and utilities, insurance policies, and others.

Key companies & market share insights

Some of the key companies operating in the smart home security camera market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In September 2022, Google launched the Nest Cam IQ Outdoor camera, an outdoor surveillance camera that can detect and identify people.

– In October 2022, Arlo Technologies launched the Arlo Pro 3 camera, a wire-free camera with advanced motion detection and customizable activity zones.

– In August 2022, Netgear launched the Arlo Ultra 4K camera, a high-end camera that offers a wider field of view and advanced motion and sound detection capabilities.

Some of the prominent players in the smart home security camera market include:

– Arlo Technologies, Inc.
– Google LLC
– Netgear, Inc.
– Amazon.com, Inc.
– Logitech International S.A.
– Swann Communications Pty Ltd
– Samsung Electronics Co. Ltd.
– Lorex Technology Inc.
– D-Link Corporation
– Hikvision Digital Technology Co., Ltd.

Global Smart Home Security Camera Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global smart home security camera products market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Wi-Fi Cameras
– IP Cameras
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

Frequently Asked Questions

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