According to a recent study report published by Market Research Future, The global market of home security camera is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). Primary benefits of home security camera systems include continuous monitoring of the activities in and around home when the owner is not at home.
The global home security camera market is showing immense growth; mainly due to the emergence of cloud technologies and increasing awareness regarding security and safety. Various types of home security cameras are being deployed such as dome security camera, bullet security camera, IP security camera, thermal security camera, PTZ security camera and others. Out of which, the IP security cameras is expected to hold the largest market share owing to the increasing implementation of the same and offer easy deployment options.
This helps in protecting the valuables at home, deterring the crime rate, and will ensure a feeling of safety in and around the house. Also, in case of crimes or any other accident, the home security cameras, will help in gathering evidence and will prove to be extremely beneficial. Home Security Cameras Market also help in monitoring pet activities and checking up on them. Home security camera systems allow the users to monitor the activities at home on their smartphones while they are on the go. This proves to be extremely convenient for the users in order to ensure safety at homes.
On the other hand, lack of privacy is an issue with the security cameras constantly monitoring each and every activity in and around the house. Also, deployment of home security cameras will require upgradation of infrastructure and will turn out to be a costly affair, which may hamper the market growth.
The global home security camera market is expected to grow at approx. USD 8 Billion by 2023, at 11% of CAGR between 2017 and 2023.
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Major Key Players:
- Hikvision (China)
- Motorola (U.S.)
- Leshi Video Type Co. Ltd (LSVT) (China)
- Netgear (U.S.)
- Zmodo (China)
- Nest Cam (U.S.)
- Icontrol Networks (U.S.)
- Canary (U.S.)
- Amcrest Technologies (U.S.)
- Uniden (Japan)
The regional analysis of home security camera market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period.
The major growth in home security camera market in North America is attributed to the increasing investments in the smart grid projects and changing preferences of consumers in that region.
Market Research Analysis:
The global home security camera market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. In the global home security camera market, Asia Pacific is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions. Within Asia Pacific, home security camera market is projected to contribute faster to the growth of revenue backed by increasing demand for innovative products and growing demand for smart homes in countries such as Japan, China and India.
Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of home security camera market. In Europe, the high standards of living of people have led to an increase in investments in smart homes and hence is the major driving factor for the growth of home security camera market. The presence of advanced infrastructure and with the increasing adoption of technology and technological advancements in numerous countries are other factors driving the market growth of Home security camera market.
Home Security Camera Market Segmentation:
The home security camera market has been segmented on the basis of product, type, resolution, deployment and service. The resolution segment is further bifurcated into non HD, HD, full HD and ultra HD
Out of which, the most commonly used resolution is the full HD 1080p owing to the factors like high resolution and low cost that influence the camera users to shift from HD to full HD.
Home Security Camera Market (MRFR) Research Analysis:
Home security camera market can be segmented on the basis of product, type, resolution, deployment and service. The service segment is further bifurcated into professional services and self-installed and monitored services. The self-installed and monitored segment is gaining popularity owing to the increase in well-designed apps for the security surveillance.
Giants like Nest Cam have come up with self-monitoring apps and are responsible for the growth of home security camera market. The rising incidents of security concerns has led to increased safety measures by residential dwellings. Easy installation and advanced monitoring features offered by smart cameras are major factors leading to the growth of home security camera market. Due to technical advancements, smart cameras are increasingly being used for home security purposes.
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Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
List of Tables
Table 1 Home Security Camera Market, By Product
Table 2 Home Security Camera Market, By Type
List of Figures
Figure 1 Research Type
Figure 2 Home Security Camera Market, By Product (%)
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