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The smart home cameras market size is estimated to grow by USD 6.09 billion at a CAGR of 18.52% between 2023 and 2028. The market's growth hinges on several factors, such as innovation and portfolio expansion driving product premiumization, the increasing adoption of smart home systems, and the rising penetration of the Internet and smartphones. These factors collectively shape consumer preferences and market dynamics, highlighting the evolving nature of consumer lifestyles and technological advancements. The emphasis on innovation and expanding product portfolios underscores the industry's commitment to meeting changing consumer demands and preferences. Additionally, the growing adoption of smart home systems reflects a broader trend toward interconnected living spaces, driven by technological advancements and the desire for convenience and efficiency. The increasing Internet and smartphone penetration further facilitate access to these technologies, contributing to their widespread adoption. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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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.
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The wire-free smart home cameras segment was valued at USD 1.79 billion in 2018. Due to the emergence of technological advancements, companies 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 is the growing popularity of these products equipped with technologies such as near-field communication (NFC), ZigBee, and Z-wave. Thus, such innovations are expected to drive the market during the forecast period.
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APAC 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.
Another region contributing to the market is North America. The US is one of the prominent markets in North America, followed by Canada and Mexico, as a significant number of products are being sold through offline channels such as hypermarkets, department stores, and speciality stores. Some of the key companies in the North American market include Honeywell International Inc., NETGEAR Inc., Alphabet Inc. (Nest Labs), and Amcrest Technologies LLC. Many companies 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 market in the region during the forecast period.
The market is witnessing significant growth driven by concerns over regional thefts and the need for a secure smart home ecosystem. The integration of AI-powered security cameras has enhanced threat detection, reducing burglaries and other property-related crimes. Technology advancements have led to real-time monitoring and high-resolution video recording, improving surveillance capabilities. The Internet of Things (IoT) has enabled connected living, allowing users to monitor their homes remotely. Privacy regulations have prompted the development of facial blurring and user consent mechanisms, ensuring compliance and addressing privacy concerns. The market offers a range of options, including wired smart home security cameras, wireless technology, and various segments like indoor cameras and doorbell cameras, compatible with popular smart home assistants like Google Assistant, Amazon Alexa, Samsung SmartThings, and Apple Homekit. Our researchers analyzed the data with 2023 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 market growth is the rising adoption of smart home systems. There is an increasing demand for 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 product notifies the homeowners automatically. Due to its functionality, there is an increasing demand globally. For instance, North America is one of the prominent regions in the 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 market growth during the forecast period.
A key factor shaping the 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 products from customers that provide extreme security, convenience of use, reliability, and durability.
Thus, there is a growing focus on product innovation and enhancement of features and functionality by different companies across the world. Some of the additional benefits companies are providing in this 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 market growth during the forecast period.
Lack of product awareness and penetration in developing markets is one of the key challenges hindering market growth. Even though, these products have been widely used in developed nations, the penetration 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 these automation systems is lower in developing countries when compared to developed countries. For example, the penetration of these 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 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.
Market Customer Landscape
Companies 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 companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The market is rapidly evolving to address various challenges and opportunities. False alarms have been a concern, prompting manufacturers to develop more advanced facial recognition and object detection features. Improved image processing and the use of high-resolution cameras have enhanced security and monitoring capabilities. Two-way audio communication and smartphone applications enable remote monitoring, making smart home ecosystems more secure and convenient. However, there are concerns regarding cybersecurity threats and unauthorized access, highlighting the need for robust security measures. As the market grows, innovations like AI integration are expected to further enhance security solutions and surveillance solutions for both urban and rural areas, offering peace of mind and assistance, especially for elderly individuals and caregivers.
Furthermore, the market is influenced by various factors such as homeownership trends, media coverage, and advancements in camera technology. With a focus on improvements in low-light performance and viewing angles, manufacturers are developing feature-rich cameras to meet the demand for intelligent security solutions. The market is witnessing a proliferation of IoT devices and interconnected home ecosystems, offering greater accessibility but also raising concerns about data collection and potential misuse. Ensuring user privacy and addressing security risks are crucial, particularly with the increasing reliance on internet connectivity. In the United States market, characterized by a large urban population and a culture of technological innovation, competition drives the need for high-quality, reliable security camera systems. Similarly, in Japan, known for its densely populated cities and cultural emphasis on safety and caregiving, there is a growing demand to enhance security and provide peace of mind.
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Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 18.52% |
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Market growth 2024-2028 |
USD 6.09 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
15.18 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 38% |
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Key countries |
US, China, Germany, India, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market analysis, Market forecasting, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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