Market Analysis
The global home security camera market size will touch USD 1,306.3 million at a healthy CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. A home security camera, put simply, is a surveillance camera which can be deployed either inside or outside the building/house for monitoring suspicious happenings in and around the premise. There is a wide array of cameras that allows users in controlling and monitoring the camera through the help of smartphones such as PTZ camera, dome camera, IP camera, and wireless camera.
Various factors are fueling the global home security camera market growth. As per the recent MRFR market estimates, such factors include the growing security breaches and threats in developing countries, increasing awareness of security needs, ease of installation of security cameras, introduction of new features like remote view on mobile devices and motion detection with text message alerts, advances in wireless technologies, burgeoning need for IP based surveillance cameras for its alluring features such as minimize risks related to criminal activity, protect valuable assets, improved vision, and high resolution image quality, growing awareness about home security systems, the emergence of wireless technologies and IoT, and high demand for enhanced security and safety systems including electronic alarm sensors and CCTV cameras. The additional factors adding market growth include technological advances, rapid urbanization, need for better security systems that can be monitored through smartphones, and the emergence of novel concepts like integration security, intelligent building, service bundling, and home automation.
On the contrary, disruption in supply chain owing to the COVID-19 outbreak, and high operational, maintenance and installation costs may limit the global Home Security Camera Market growth over the forecast period.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global home security camera market based on services, resolution, type, and product.
By product, the global home security camera market is segmented into IP security camera, bullet security camera, and dome security camera. Of these, the dome security camera segment will lead the market over the forecast period.
By type, the global home security camera market is segmented into outdoor security camera and indoor security camera. Of these, the outdoor security camera will dominate the market over the forecast period.
By resolution, the global home security camera market is segmented into HD and non-HD. Of these, the HD segment will spearhead the market over the forecast period.
By services, the global home security camera market is segmented into managed and professional services. Of these, the professional services will have the lions share in the market over the forecast period.
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Regional Analysis
By region, the global home security camera market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, North America will have the lions share in the market over the forecast period. The presence of major technology giants and start-ups, the wide adoption of home security cameras, advances in video analytics for safety and security in homes and other commercial places, development of smart cities, the introduction of IoT, and early adoption of home security systems are adding to the global home security camera market growth in the region.
In the APAC region, the global home security camera market is predicted to have sound growth over the forecast period at a 10.4% CAGR. Growing advancements in infrastructure, various emerging new companies, support from government bodies, rise of technology, rising construction activities for addressing the growing population, key home improvement projects undertaken by consumers due to rapid urbanization, people’s growing purchasing power, demand for smart home security solutions like smart security camera, increasing trend of smart homes, demand for smart appliances for home automation and security, and increasing awareness among consumers regarding the rising crime rate are adding to the global home security camera market growth in the region.
Key Players
The leading players profiled in the home security camera market report include Nest Cam (U.S.), Godrej Security Solutions (India), Panasonic Corporation (Japan), SimpliSafe (U.S.), Vivint, Inc. (U.S.), FrontPoint Security Solutions, LLC (U.S.), ADT Security Services (U.S.), Netgear, Inc. (U.S.), Shenzhen Leshi Video Tech. Co., Ltd (China), Motorola Home (U.S.), and Hangzhou Hikvision Digital Technology Co. Ltd (China), among others.
Industry Updates
May 2021- EZVIZ has launched its foremost tilt/pan outdoor Wi-Fi home security camera.
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Home Security Camera Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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