Wireless Home Security Camera Global Market Report 2024

The wireless home security camera market size has grown rapidly in recent years. It will grow from $7.46 billion in 2023 to $8.76 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The growth observed during the historical period can be attributed to market competition and innovation, the development of mobile apps, increasing concerns for security, the integration of smart home technologies, and the expansion of internet accessibility.

The wireless home security camera market size is expected to see rapid growth in the next few years. It will grow to $16.75 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. The anticipated growth in the forecast period can be attributed to shifts in consumer demand, the dynamics of market competition, concerns related to security and privacy, the evolution of smart home ecosystems, and an increase in do-it-yourself (DIY) installations. Major trends expected in the forecast period include the integration of AI and machine learning, the adoption of cloud-based storage solutions, integration with various smart home devices, the prevalence of wire-free and battery-powered cameras, and advancements in high-resolution imaging technologies.

The wireless home security camera market is poised for growth, driven by the increasing demand for home automation. Home automation involves electronic and technological solutions that automate various home-based tasks, enhancing security configurations and offering remote management capabilities. With the smart home industry projected to automate 53.9% of US houses by 2023, as reported by TechJury, the wireless home security camera market is experiencing a boost. Consumers' preference for new homes equipped with smart technology and a projected expenditure of $19.4 billion on smart security systems further contribute to the market's growth.

The rise in the crime rate is expected to fuel the expansion of the wireless home security camera market. Crime rates, reflecting the prevalence of criminal activities within specific areas, prompt increased concerns about personal and property safety. In 2022, the Federal Bureau of Investigation reported a 1.3% increase in national robbery rates, leading to heightened awareness and a surge in law enforcement agency participation. Such circumstances drive individuals to invest in security solutions, particularly wireless home security cameras, contributing to the market's growth.

A prominent trend is the increasing focus of major players on product innovations to maintain their competitive positions. An example of this trend is seen in the actions of Lorex Technology, a Canadian home and business security company, which introduced the Lorex 4K spotlight indoor or outdoor Wi-Fi security camera with smart security lighting in September 2022. This cutting-edge product, incorporating 4K resolution, Smart Security Lighting, and Wi-Fi 6 Technology, represents a pioneering addition to the market. Wi-Fi 6 enhances the camera's performance by reducing downloading time and enabling faster transmission, ensuring excellent resolution quality without causing interference with other online activities. Additionally, the camera features color night vision and infrared night vision capabilities, ensuring clear video capture in various lighting conditions.

Major companies in the wireless home security camera market involves the development of innovative products such as bullet cameras to tap into larger customer bases, drive more sales, and increase overall revenue. Bullet cameras, characterized by their cylindrical and elongated shape resembling a bullet shell or small cylinder, serve as a distinct surveillance camera type. For instance, in July 2023, Versuni, a Netherlands-based household appliances company, launched the Smart Home Security Cameras under the Philips Smart Security Camera series. This series comprises three models, each offering unique features to enhance home security. The Philips Smart Indoor WiFi Camera (HSP1000) provides 24/7 control via a dedicated app, featuring enhanced day and night vision, motion detection, live view, two-way communication, and an anti-theft alarm system. The Philips Smart 360° WiFi Indoor Security Cameras (HSP3500 and HSP3800) stand out with panoramic 360° views, 2K clarity, motion detection with a spotlight, anti-theft alarm systems, and weatherproof features for adverse weather conditions. All models share the convenience of easy DIY installation, making them user-friendly solutions for advanced home monitoring.

In November 2021, Bosch Building Technologies, a German provider of solutions and services for building security, energy efficiency, and building automation, made a strategic move by acquiring Protec Fire and Security Group Ltd., a UK-based security solutions business specializing in wireless security cameras and surveillance CCTV systems. This acquisition is expected to enhance Bosch Building Technologies' global business presence in the security sector.

Major companies operating in the wireless home security camera market report are Arlo Technologies Inc., SimpliSafe Inc., CP Plus International Pty. Ltd., Eufy (Anker Innovations), D-Link Corporation, Guardian Protection Services, Amazon.com Inc., Amcrest Technologies LLC, Frontpoint Security Solutions LLC, Vivint Inc., Swann Communications Pty Ltd., ADT Inc., Hanwha Techwin Co. Ltd., K&F Concept Technology Limited, Wyze Labs Inc., Defender Protection Systems Inc., Atoms Labs Inc., Night Owl Security Products LLC, Q-SEE Technology Inc., Corps Security Products Inc., Crystal Vision Ltd., Brinks Home Security Inc., iSmart Alarm Inc., LiveWatch Security LLC, Skylinkhome Inc., Ring LLC, Google LLC, Alarm.com LLC, Hangzhou Hikvision Digital Technology Co. Ltd., Dahua Technology Co. Ltd.

North America was the largest region in the wireless home security camera market in 2023. The regions covered in the wireless home security camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wireless home security camera market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The major types of wireless home security cameras include PTZ cameras and IP cameras. A PTZ camera, also known as a pan-tilt-zoom camera, allows for zooming and remote directional control, including panning and tilting. These cameras come with different resolutions, such as HD, 2K, and 4K. They are sold through various distribution channels, both online and offline, and are utilized in various applications, including doorbell cameras, indoor cameras, and outdoor cameras.

The wireless home security camera market research report is one of a series of new reports that provides wireless home security camera market statistics, including wireless home security camera industry global market size, regional shares, competitors with a wireless home security camera market share, detailed wireless home security camera market segments, market trends and opportunities, and any further data you may need to thrive in the wireless home security camera industry. This wireless home security camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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