Global Smart Home Security Camera Market Insights Forecasts to 2030

• The global smart home security camera market was valued at USD 6.42 Billion in 2021.
• The market is growing at a CAGR of 18.6% from 2022 to 2030
• The global smart home security camera market is expected to reach USD 30.03 Billion by 2030
• Europe is expected to grow the fastest during the forecast period

The global smart home security camera market is expected to reach USD 30.03 Billion by 2030, at a CAGR of 18.6% during the forecast period 2022 to 2030. The smart home security camera market has grown in order to fulfil the need for a safe and secure environment, indoors as well as outdoors. There are advancements in new technologies to help ease the smart home security camera experience of people, which is expected to provide growth opportunities for the market during the forecast period.

Market Overview

A smart home security camera is a small device that offers a wide 360-degree view of your environment and can be controlled from anywhere. Smart home security camera has a Wi-Fi connection option, which enables homeowners to monitor and control the camera remotely with smartphone apps. Security and safety surveillance technologies are in high demand in numerous countries due to the growing number of smart cities. The demand for smart home security cameras is increasing. With the help of security cameras, whether indoor or outdoor cameras, consumers can log into a household from anywhere and can control the cameras through remote access. The COVID-19 breakout influences the market negatively.

The disrupted supply chains and prolonged lockdowns globally hinder the market's growth. There is a shortage of raw materials and manpower during the pandemic, which has affected the production of smart home security cameras. Some restraints and challenges are also responsible for the slow growth of the market, such as the high maintenance and installation cost of security cameras, privacy infringement, etc. Furthermore, security cameras for smart homes are becoming more popular due to increased criminal activity. Moreover, smart home cameras also offer a great deal of opportunity in terms of product innovation by exploring advancements in machine learning, which will propel future market growth. As smart home security camera systems become more sophisticated, manufacturers are designing and upgrading them to add new features that enhance their overall functionality.

Report Coverage

This research report categorizes the market for global smart home security cameras based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global smart home security camera market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global smart home security camera market sub-segments.

Market Dynamics:

• Driver - Better Connectivity

The way we live is being revolutionized by Industry 4.0. IoT integration in technologically advanced devices enhances life's convenience, security, and safety. People have installed smart home security cameras as a result of this. Smart home security cameras have several advantages, including real-time viewing, simple access from anywhere, and the ability to send alerts in an emergency or dangerous situation. As a result, the world's expanding urban population has indicated a preference for purchasing smart home security cameras.

• Restraint - Privacy issues

The privacy and cost of smart cameras are the two main problems facing smart home security cameras. The cost of outdoor smart home security cameras is high, and there is a good probability that they may be harmed by weather or criminals. People have decided against purchasing outdoor smart home security cameras as a result. In addition, hackers have access to the cameras and can misuse the photographs that are taken there.

• Opportunity - Rise in artificial Intelligence

Different geographical regions of the world are seeing changes in the smart home security camera market due to artificial intelligence. Since most individuals work from home, nobody is home to receive shipments. Once items are delivered to doorsteps, theft or parcel damage is more dangerous. Owners receive timely information regarding delivery thanks to the use of artificial intelligence in smart cameras. Telling the delivery team this, in turn, aids them in keeping the products secure.

• Challenge - Privacy Concerns

 The outside camera can record the area around the house, endangering the privacy of areas. The improper use of facial recognition technology can also result in theft and property harm. Manufacturers of smart home security cameras are developing the same.

Segmentation Analysis

• In 2021, the wired segment accounted for the largest share of the market, with 57.6% and market revenue of 3.69 billion.

Based on the type, the smart home security camera market is categorized into wireless and wired. In 2021, the wired segment accounted for the largest share of the market, with 57.6% and a market revenue of 3.69 billion. The rising demand for wired smart home security is due to cost-effectiveness and low maintenance. Moreover, security camera manufacturing companies are continuously working on the wired system to make it more efficient and add more features to the system, boosting the growth of the smart home security market.

• In 2021, the bullet security camera segment accounted for the largest share of the market, with 34.4% and market revenue of 2.2 billion.

Based on the product, the smart home security camera market is categorized into IP security cameras, dome security cameras, bullet security camera and others. In 2021, the wired segment accounted for the largest share of the market, with 34.4% and market revenue of 2.2 billion. Demand for bullet security camera segments is rising because these cameras are very small and can be mounted easily on walls and ceilings.

• In 2021, the indoor camera segment accounted for the largest share of the market, with 39.1% and a market revenue of 2.51 billion.

Based on the application, the smart home security camera market is categorized into the indoor camera, outdoor camera and doorbell camera. In 2021, the academics segment accounted for the largest share of the market, with 39.1% and a market revenue of 2.51 billion. Indoor cameras allow consumers to keep a check on household activities 24X7 from anywhere. Due to this, the doorbell segment is gaining more attention which ultimately leads to the growth of the smart home security camera market.

Regional Segment Analysis of the Smart Home Security Camera Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific emerged as the largest market for the global smart home security camera market, with a market share of around 37.60% and 5.27 billion of the market revenue in 2021.

• In 2021, North America emerged as the largest market for the global smart home security camera market, with a market share of around 37.60% and 5.27 billion of the market revenue. North America is expected to be the largest market. Rapid urbanization in the region is responsible for the growth of the smart home security camera market for safety and security concerns.

• European market is expected to grow at the fastest CAGR between 2021 and 2030. A growing market for smart home security cameras in the region is being supported by the increasing penetration of smart homes, which is responsible for the market's immense growth in the forecast period.

Competitive Landscape

The report offers the appropriate analysis of the key organizations/companies involved within the global smart home security camera market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Market Players:

• FrontPoint Security Solutions
• Nest Cam
• Skylinkhome
• Motorola Home
• Godrej Security Solutions
• Panasonic Corporation
• Arlo Technologies, Inc.
• Brinks Home Security
• Honeywell International, Inc.
• SimpliSafe, Inc.
• Vivint, Inc.
• Panasonic Corporation
• Netgear, Inc.
• Hangzhou Hikvision Digital Technology Co. Ltd
• Shenzhen Leshi Video Tech. Co. Ltd
• Robert Bosch
• ADT Corporation
• Samsung Electronics Corporation Ltd.
• Protect America
• Wyze Labs, Inc.
• Ring

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Some of the Key Developments:

• In May 2020, an artificial intelligence-enhanced security camera by Hero Electronix that detects people and alerts parents when a baby is crying has been launched in India.

• In June 2020, A new wire-free spotlight camera system has been launched by Arlo Technologies. The camera offers 4K and an ultra-wide 180-degree field of view.

Market Segment

This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global smart home security camera market based on the below-mentioned segments:

Global Smart Home Security Camera Market, By Type

• Wireless
• Wired

Global Smart Home Security Camera Market, By Product

• IP Security Camera
• Dome Security Camera
• Bullet Security Camera
• Others

Global Smart Home Security Camera Market, By Application

• Indoor Camera
• Outdoor Camera
• Doorbell Camera

Global Smart Home Security Camera Market, Regional Analysis

• North America
  • THE US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• The Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa