NEW YORK, July 26, 2024 /PRNewswire/ -- The
global smart home cameras market size is estimated to grow by
USD 6.09 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a
CAGR of 18.52% during the forecast period. Innovation and portfolio
extension leading to premiumization of products is driving
market growth, with a trend towards distribution channel expansion
strategy. However, presence of counterfeit and low-quality products
poses a challenge. Key market players include 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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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Connectivity (Wire-free
smart home cameras and Wired smart home cameras), Distribution
Channel (Offline and Online), and Geography (North America, APAC,
Europe, South America, and Middle East and Africa)
|
Region
Covered
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
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.
|
Key Market Trends Fueling Growth
The global smart home cameras market is witnessing growth due in
part to strategic distribution channel expansion. Competitors are
broadening their customer base by selling through various channels.
An omnichannel strategy, which includes both physical retailers and
third-party online retailers, is gaining popularity among home
security product manufacturers offering smart home cameras. Notable
brands like SAMSUNG and Robert Bosch
are increasing their market presence by selling their smart home
cameras on popular online shopping portals. This distribution
strategy is anticipated to significantly boost the revenue of the
global smart home cameras market during the forecast
period.
The Smart Home Cameras market in the
United States is experiencing significant growth due to
increasing population density in urban areas and cultural emphasis
on safety and peace of mind. Reliability issues and disruptions
continue to be a concern, leading to downtime and potential
security vulnerabilities. High crime rates, particularly in densely
populated cities, are driving demand for advanced surveillance
solutions. Privacy concerns and data protection are also key
considerations. Technological innovation, including AI integration
and high-quality features like high-resolution video recording and
night vision, are important differentiators. The aging population
and caregiving needs are also fueling demand for smart home cameras
for monitoring elderly individuals. False alarms and threat
detection are ongoing challenges, with technology advancements and
real-time monitoring helping to address these issues. Regional
thefts and burglaries are also major concerns, with smart home
cameras providing valuable assistance in property-related crimes.
Media coverage and cultural acceptance of connected living and
homeownership continue to shape the market landscape.
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Market Challenges
- The proliferation of counterfeit and low-quality smart home
cameras, particularly in developing countries like China, poses a significant challenge to the
growth of the global market. Unregistered manufacturers offer
equivalent products at lower prices, attracting price-sensitive
customers. These players have minimal fixed or regular employment,
keeping their operating costs low. This pricing strategy hinders
the growth of the market as many consumers in developing economies
prefer these low-cost alternatives. The global smart home cameras
market faces intense competition from these unorganized players,
impacting the market's expansion during the forecast period.
- The Smart Home Camera market is experiencing significant growth
due to the increasing demand for home security solutions. However,
challenges persist in areas such as object detection and image
processing, which require advanced technology and computing power.
Privacy regulations also pose a concern, with the need for facial
blurring and user consent mechanisms. Wireless technology and
connectivity infrastructure are crucial for seamless integration
with IoT devices and smart home ecosystems. High-resolution
cameras, feature-rich cameras with motion detection and two-way
audio communication, are in high demand. However, concerns around
privacy, data collection, storage, potential misuse, and
cybersecurity threats continue to loom large. Companies like Google
Assistant, Amazon Alexa, Samsung SmartThings, and Apple Homekit are
making strides in this space, offering intelligent security
solutions. Improvements in resolutions, low-light performance,
viewing angles, and proliferation of indoor cameras and doorbell
cameras are key areas of focus. Accessibility and user privacy are
important considerations, as is addressing concerns around recorded
footage and cybersecurity risks such as hacking and unauthorized
access.
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challenges - Download a Sample Report
Segment Overview
This smart home cameras market report extensively covers market
segmentation by
- Connectivity
- 1.1 Wire-free smart home cameras
- 1.2 Wired smart home cameras
- Distribution Channel
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Wire-free smart home cameras- The Smart Home
Camera market is experiencing significant growth due to increasing
demand for home security and convenience. These devices allow
homeowners to monitor their properties remotely and receive
real-time alerts. Major players in this market include Google,
Amazon, and Netgear, who continuously innovate to offer advanced
features such as high-definition video, night vision, and two-way
audio. The market is expected to continue expanding as more
consumers adopt smart home technology.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Wireless Home Security Camera market is experiencing
rapid growth, driven by increasing demand for advanced security
solutions. In 2024, the market is projected to grow due to
innovations in wireless technology and smart features. Similarly,
the global Smart Home Market is expanding with advancements in IoT
and AI, enhancing convenience and energy efficiency. Meanwhile, the
global Underwater Camera market is benefiting from rising interest
in marine exploration and recreational diving.
Research Analysis
The Smart Home Cameras market is experiencing significant growth
due to increasing concerns over property-related crimes and the
desire for connected living. Advanced technology, such as
AI-powered security cameras, night vision, high-resolution video
recording, facial recognition, and object detection, are key
features driving demand. These cameras integrate seamlessly into
the smart home ecosystem, offering real-time monitoring and threat
detection. However, concerns over false alarms, privacy
regulations, and user consent mechanisms continue to be addressed
by manufacturers. Regional thefts and burglaries have received
extensive media coverage, further fueling the adoption of these
devices. Doorbell cameras and indoor cameras are popular segments,
with voice assistants like Google Assistant, Amazon Alexa, Samsung
SmartThings, and Apple Homekit enabling hands-free control.
Wireless technology ensures easy installation and flexibility.
Technology advancements continue to shape the market, with
continuous improvements in image processing and threat
detection.
Market Research Overview
The Smart Home Cameras market is experiencing significant growth
due to the increasing number of regional thefts and
property-related crimes. With the advancement of technology,
AI-powered security cameras have become an essential component of
the smart home ecosystem. These cameras offer high-resolution video
recording, night vision, and real-time monitoring, providing
homeowners with peace of mind and intelligent security solutions.
However, concerns around false alarms, threat detection, privacy
regulations, and cybersecurity threats persist. Technology
improvements, such as facial recognition, object detection, and
image processing, aim to address these concerns. The proliferation
of IoT devices and interconnected home ecosystems has made
accessibility and control through smartphone applications and voice
assistants like Google Assistant, Amazon Alexa, Samsung
SmartThings, and Apple Homekit increasingly important. Despite
these benefits, privacy concerns, data collection, storage,
potential misuse, and recorded footage remain areas of concern for
consumers. The United States
market, with its high crime rates and large population,
particularly in urban areas, is a significant contributor to the
market's growth. Cultural emphasis on safety and technological
innovation, as well as the aging population and densely populated
cities, further fuel the demand for smart home cameras. However,
reliability issues, disruptions, and downtime due to internet
connectivity and security risks, such as hacking and unauthorized
access, pose challenges to the market's growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Connectivity
-
- Wire-free Smart Home Cameras
- Wired Smart Home Cameras
- Distribution Channel
-
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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