Smart Homes Security Cameras Market by Products (Wired and Wireless), Applications (Doorbell Cameras, Indoor Cameras, and Outdoor Cameras), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023–2031
The Global Smart Homes Security Cameras Market size was valued at USD 7.50 Billion in 2022 and is expected to surpass USD 38.76 Billion by 2031, expanding at a CAGR of 20.02% during the forecast period, 2023 – 2031. The growth of the market is attributed to the growing adoption of smart appliances in the residential sector.
The installation of smart homes security cameras involves the integration of Internet of Things (IoT) network that facilitates remote automation and real-time monitoring of the home environment. The wireless technology-enabled security systems are the recent advancements in the field of home security solutions. Additionally, IoT is widely preferred by the homeowners to ensure effective protection.
The wireless access to security options enables flexibility, convenience, and assurance to consumers wireless control over the smart home devices is increasing consumer preference to adopt smart devices.. For instance, a survey conducted by PC Mag, in 2018, states that, 34% of consumers depend on smart home security devices to ensure their homes are safe. Google’s Nest Cam or Amazon’s Cloud Cam offers integration of artificial Intelligence (AI) into smart security cameras to identify and analyze human anatomy, behavior, and other environmental activities.
Smart Homes Security Cameras Market Drivers, Restraints, Trends, and Opportunities
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Rising awareness of security devices owing to increase in criminal activities is boosting the demand for smart home security cameras across the globe.
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Increasing consumer spending on smart security devices owing to rising number of interconnected devices is anticipated to boost the market growth.
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Growing augmentation of home automation devices such as locks and security cameras due to high penetration of remote technology is expected to spur the market growth.
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Rising exposure toward IoT and wireless technologies is expected to drive the market growth during the forecast period. Furthermore, it has led to the adoption of miniaturized sensors, actuators, and wireless communication technology, which is stimulating the growth of the market.
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Rapid urbanization and increasing number of smart cities across the globe has contributed to the rising need of smart security cameras.
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Growing adoption of cloud-based technologies has led to increase in the consumer preference for smart home security cameras.
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High cost of installation and maintenance of smart home security systems is anticipated to restrain the market growth.
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The COVID-19 pandemic has adversely affected the growth of the global smart home security cameras market. Supply chain disruptions owing to the closure of manufacturing facilities is one of the factors affecting the demand for home security cameras.
Scope of Smart Homes Security Cameras Market Report
The report on the global smart home security cameras market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Smart Home Security Cameras Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Products (Wired and Wireless) and Applications (Doorbell Camera, Indoor Camera and Outdoor Camera) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Vivint, Inc., ADT, SimpliSafe, Inc., Frontpoint Security Solutions, LLC, Brinks Home Security, iSmart Alarm, Inc., LiveWatch Security LLC, Skylinkhome, Protect America, Inc. and SAMSUNG |
Global Smart Home Security Cameras Market Segment Insights
Wired segment to account for a significant market share
On the basis of products, the market is segment into wired and wireless. The wired segment accounted for a market share of over 50% in 2020, in terms of revenue. Durability and reliability of these products makes it an essential category type in the smart homes security cameras market. Wired smart home security cameras incur low installation and maintenance charges as compared to wireless devices, which proliferates it adoption in various residential spaces. Additionally, wired smart home security cameras observe low failure rates. Thus, above mentioned factors are expected to drive the segment growth.
The wireless segment is anticipated to expand at a CAGR of 15.2 % during the forecast period. They can be operated by using a controller. Generally, they are linked through Wi-Fi or Bluetooth. Increasing disposable income of consumers is encouraging consumers to adopt wireless electronics. Additionally, technological innovations and product developments that allows integration with other smart devices, such as Amazon’s Alexa or Google Home are expected to drive the segment growth during the forecast period.
Indoor cameras segment to account for a considerable market share
Based on applications, the market is bifurcated into doorbell cameras, indoor cameras, and outdoor cameras. The indoor camera segment accounted for a considerable market share of above 35% in 2020, in terms of revenue. Rising number of burglary cases, especially in residential households, is anticipated to drive the segment growth. Consumers preference for indoor cameras in order to have complete control over indoors throughout the day is boosting the segment growth.
The doorbell segment is projected to expand at a CAGR of 15.5% during the forecast period. Growing adoption of doorbell security camera is driving the segment growth. Network doorbell camera is the recent trend in the market. It ensures high level security to residents by connecting to the central security room.
North America expected to account for a large market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to account for a large market share owing to the rising number of nuclear families in countries such as the US and Canada. Growing penetration of smart homes is also expected drive the market growth in this region.
The market in Asia Pacific is anticipated to witness an impressive growth rate during the forecast period. Increasing infrastructure development to address the growing population is expected to boost the product demand in this region. Furthermore, rapid urbanization and rising purchasing power are driving the regional market growth. Moreover, increasing trend of smart homes along with demand for smart devices for home automation and security are expected to boost the market growth in the region.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Homes Security Cameras Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Homes Security Cameras Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Homes Security Cameras Market - Supply Chain
4.5. Global Smart Homes Security Cameras Market Forecast
4.5.1. Smart Homes Security Cameras Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Homes Security Cameras Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Smart Homes Security Cameras Market Absolute $ Opportunity
5. Global Smart Homes Security Cameras Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Smart Homes Security Cameras Market Size and Volume Forecast by Applications
5.3.1. Doorbell Cameras
5.3.2. Indoor Cameras
5.3.3. Outdoor Cameras
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Smart Homes Security Cameras Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Smart Homes Security Cameras Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Smart Homes Security Cameras Demand Share Forecast, 2019-2026
7. North America Smart Homes Security Cameras Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Smart Homes Security Cameras Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Smart Homes Security Cameras Market Size and Volume Forecast by Applications
7.4.1. Doorbell Cameras
7.4.2. Indoor Cameras
7.4.3. Outdoor Cameras
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Smart Homes Security Cameras Demand Share Forecast, 2019-2026
8. Latin America Smart Homes Security Cameras Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Smart Homes Security Cameras Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Smart Homes Security Cameras Market Size and Volume Forecast by Applications
8.4.1. Doorbell Cameras
8.4.2. Indoor Cameras
8.4.3. Outdoor Cameras
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Smart Homes Security Cameras Demand Share Forecast, 2019-2026
9. Europe Smart Homes Security Cameras Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Smart Homes Security Cameras Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Smart Homes Security Cameras Market Size and Volume Forecast by Applications
9.4.1. Doorbell Cameras
9.4.2. Indoor Cameras
9.4.3. Outdoor Cameras
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Smart Homes Security Cameras Demand Share Forecast, 2019-2026
10. Asia Pacific Smart Homes Security Cameras Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Smart Homes Security Cameras Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Smart Homes Security Cameras Market Size and Volume Forecast by Applications
10.4.1. Doorbell Cameras
10.4.2. Indoor Cameras
10.4.3. Outdoor Cameras
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Smart Homes Security Cameras Demand Share Forecast, 2019-2026
11. Middle East & Africa Smart Homes Security Cameras Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Smart Homes Security Cameras Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Smart Homes Security Cameras Market Size and Volume Forecast by Applications
11.4.1. Doorbell Cameras
11.4.2. Indoor Cameras
11.4.3. Outdoor Cameras
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Smart Homes Security Cameras Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Smart Homes Security Cameras Market: Market Share Analysis
12.2. Smart Homes Security Cameras Distributors and Customers
12.3. Smart Homes Security Cameras Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Vivint, Inc.
12.4.2. ADT
12.4.3. SimpliSafe, Inc.
12.4.4. Frontpoint Security Solutions, LLC
12.4.5. Brinks Home Security
12.4.6. iSmart Alarm, Inc.
12.4.7. LiveWatch Security LLC
12.4.8. Skylinkhome
12.4.9. Protect America, Inc.
12.4.10. SAMSUNG