The global smart home security cameras market is projected to grow at a CAGR of 12.7% during the forecast period (2020-2026). Rising penetration of smart homes, growing sales of smart home devices, and increasing spending of consumers on home automation products are likely to drive the growth of the global market. The security devices are gaining traction through the home automation process which is paving the way for different smart home security cameras for indoor as well as outdoor safety applications. Technological advancement in the smart home security camera is further expected to encourage the customers to adopt them for security concerns. The number of smart city projects across the globe is on a continuous rise. 

The rise in the development of smart cities is expected to generate the demand for and surveillance products in the market across the globe. Moreover, the rapid urbanization in the developing economies is also creating a market for the smart home security camera. With rapid urbanization a huge population base is liable to reside in multi-storage building apartments owing to space constraints, thereby creating a need for a smart home security camera in their buildings which in turn will drive the market growth. Higher penetration of cloud connectivity is again leading towards the high inclination of consumers towards smart home security cameras based on the centralized control of the home gateway, wherein intelligence has shifted to cloud networks. Moreover, the rising awareness among the users related to its easy usability, self-monitoring, and remote access features are further promoting the huge adoption of these devices by the residential users.

 Segmental Outlook  

The smart home security camera market is segmented based on product type and application. Based on product type the market is sub-segmented into wired & wireless. Based on the product type, the wired cameras are anticipated to hold considerable market share during the forecast period. Longer durability and stronger reliability are the factors that support the high share of this market segment. However, wireless cameras are anticipated to exhibit high growth owing to the ease of installation of these devices. Based on the application, the smart home security camera market is segmented into a doorbell camera, indoor camera, and outdoor camera.

Indoor Camera to be a Considerable Segment

The indoor camera segment is considered to hold a considerable market share in 2019. The continuous increase in the incidence of theft and burglary cases is catching the attention of residential households towards indoor security which in turn is driving the demand for an indoor camera. The high adoption of an indoor camera to take the indoor environment under surveillance is anticipated to make a considerable contribution towards the high share of this market segment. The doorbell camera application segment is anticipated to exhibit significant growth. The high demand for these cameras from the high-rise apartments owing to the safety & security concern is driving the high growth of this market segment. Stringent government policies, infrastructural development, and technological advancements among others are further contributing towards the high growth of this market segment. 

Global Smart Home Security Cameras Market Share by Application, 2019 (%)

Regional Outlook 

The global smart home security cameras market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is anticipated to hold a major market share in the global smart home security cameras market. The US is anticipated to hold considerable market share in the North America smart home security cameras market. The prevalent trend of one person or two-person households in American countries including the US and Canada is promoting consumers to make investments in the household security devices to protect their homes in the absence of residents. Additionally, the economic stability and high purchasing power of consumers are the other prominent motivators for residents to invest in smart home security cameras, which in turn is expected to drive the regional market share.

Global Smart Home Security Cameras Market Growth, by Region 2020-2026

Asia-Pacific will augment with the significant growth rate in the smart home security cameras market

Asia-Pacific is projected to exhibit a considerable CAGR during the forecast period. China is anticipated to make a major contribution to the high regional growth. Rapid urbanization, growing purchasing power, and the growing trend of smart homes are among the major factors that are driving the growth of the regional market. The high demand for smart appliances for home automation and security along with growing awareness among consumers about the rising crime rate across the region are some other factors that are encouraging the adoption of the smart home security camera. The high adoption of smart home security cameras in the region is thus anticipated to accelerate the growth of the regional market.

Market Players Outlook

The global smart home security camera market is a well-established market presence of major national and international players. Google, LLC, Abode Systems, Inc., ADT Inc., Arlo Technologies, Inc., Frontpoint Security Solutions, LLC, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International Inc., iSmart Alarm, Inc., Johnson Controls International plc, and so on are the major players operating in the global smart home security camera market. Key players operating in the market are focusing on the expansion of their product lines by doing technological advancement in their product offerings to better meet consumer’s demand for the advanced smart home security camera. Moreover, these companies are actively adopting different growth strategies such as mergers & acquisitions, partnerships, and collaboration among others to remain competitive in the marketplace.

Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global smart home security cameras market. Based on the availability of data, information related to the products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.