Smart Home Security Camera Global Market Report 2024

The smart home security camera market size has grown strongly in recent years. It will grow from $6.18 billion in 2023 to $6.56 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The increase observed during the historical period can be attributed to heightened urbanization, reduced production costs, increased awareness of home security, the proliferation of smart home ecosystems, and societal shifts towards digitalization.

The smart home security camera market size is expected to see strong growth in the next few years. It will grow to $8.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period can be attributed to IoT integration, AI and machine learning advancements, heightened concerns and regulations regarding privacy, the demand for remote monitoring and control capabilities, and the increasing focus on customization and personalization. Key trends expected during this period encompass sustainability initiatives, the integration of health monitoring features, the utilization of edge computing technologies, the implementation of enhanced cybersecurity measures, and the integration with autonomous systems.

The anticipated increase in crime rates is expected to drive the expansion of the smart home security camera market in the foreseeable future. Crime rates serve as statistical indicators used to measure the prevalence and frequency of criminal activities within specific geographical areas or jurisdictions over defined periods. The rise in crime rates can be attributed to various factors, including socio-economic disparities, urbanization, drug-related activities, and inadequate law enforcement resources. Smart home security cameras play a crucial role in crime prevention by acting as visible deterrents, providing real-time monitoring, and aiding in the identification and apprehension of criminals through recorded footage. For example, in April 2024, Eurostat reported a 17.9% increase in police-recorded thefts in the European Union in 2022 compared to 2021, with the majority of countries experiencing an uptick. Similarly, police-recorded robberies and burglaries also saw significant increases, indicating a pressing need for enhanced security measures. Consequently, the rising crime rates are fueling the growth of the smart home security camera market.

Key players in the smart home security camera market are focusing on the development of innovative smart 360° home security cameras equipped with advanced features such as two-way voice calling support to gain a competitive advantage. Two-way voice calling support enhances the security, convenience, and connectivity offered by smart home security cameras, enabling homeowners to actively monitor and interact with their home environment remotely. For instance, in January 2024, Xiaomi Inc. introduced the Mi 360° Home Security Camera 2K, featuring super-clear 2K image quality and upgraded AI capabilities for enhanced surveillance. With a 3-megapixel sensor, F1.4 large aperture, and upgraded 6P lens, this camera ensures detailed images even in low-light conditions. It also offers improved infrared night vision, AI human detection, and seamless monitoring with a 360° panoramic view. Additionally, users can stay connected through real-time, two-way voice calls, while advanced video encoding technology helps conserve storage space.

In August 2022, Snap One, a US-based manufacturer and distributor of audio-video, networking, surveillance, power, and structured wiring products, acquired Clare Controls to bolster its offerings in providing integrators with value-added control solutions across various budgets. Clare Controls is renowned for manufacturing smart home security cameras, including indoor and outdoor variants, further enhancing Snap One's market presence and product portfolio.

Major companies operating in the smart home security camera market are Amazon.com Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Comcast, Robert Bosch, Panasonic Holdings Corporation, Xiaomi Inc., Honeywell International Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Motorola Solutions Inc., ADT Inc., Vivint Smart Home Inc., Netgear, Alarm.com, Brinks Home Security, Arlo Technologies Inc., SimpliSafe Inc., D-Link Global, Wyze Lab Inc., Frontpoint Security Solution LLC, Skylinkhome, Shenzhen Leshi Video Tech. Co. Ltd., Eufy Anker Innovations, Zmodo Direct Electronics, Godrej Security Solutions.

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

A smart home security camera is a device equipped with advanced features and connectivity capabilities, intended to remotely monitor and safeguard residential properties. These cameras often form part of a broader smart home ecosystem, allowing integration with other devices and systems to enhance functionality and convenience.

The primary types of smart home security camera products are wired and wireless. Wired devices or connections utilize physical cables for data transmission. These cameras are available in various resolutions, including HD and non-HD, and can be purchased through multiple distribution channels, including online and offline retailers. They find application in various scenarios such as doorbell cameras, indoor cameras, and outdoor cameras.

The smart home security camera market research report is one of a series of new reports that provides smart home security camera market statistics, including smart home security camera industry global market size, regional shares, competitors with a smart home security camera market share, detailed smart home security camera market segments, market trends and opportunities, and any further data you may need to thrive in the smart home security camera industry. This smart 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 smart home security camera market consists of sales of doorbell cameras, motion sensors, security lighting, and drone cameras. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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