GVR Report cover North America Smart Home Security Cameras Market Size, Share & Trends Report

North America Smart Home Security Cameras Market Size, Share & Trends Analysis Report By Product (Wired, Wireless), By Application (Indoor Camera, Doorbell Camera, Outdoor Camera), By Country, And Segment Forecasts, 2021 - 2028

  • Report ID: GVR-4-68039-583-5
  • Number of Pages: 146
  • Format: Electronic (PDF)

Report Overview                       

The North America smart home security cameras market size was valued at USD 2.19 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.4% from 2021 to 2028. The rapid adoption of IoT in smart homes is supporting market growth. Consumers are shifting from traditionally mountable Wi-Fi cameras to the deployment of smart home security cameras to increase the security of their premises. These advanced smart home security cameras offer several benefits, which boost their installation in many households across the region. The ease of installation and easy availability of smart home security cameras drive the product demand.

U.S. smart home security cameras market size, by product, 2018 - 2028 (USD Billion)

Furthermore, increasing home remodeling activities, coupled with the growing need for smart home devices, are presenting lucrative growth opportunities for the market. In addition, the rising prominence of technologically advanced smart home security cameras boosts the demand for these products. The increasing prominence of energy conservation measures is also contributing to the greater penetration of innovative and smart home security cameras in the region.

Technological advancements have been significantly driving the market. Smart cameras that notify users of any movements when no one is at home are gaining traction. An increasing number of younger consumers are buying homes and this set of homeowners is no longer content with traditional devices. This scenario has driven the penetration of new technologically-advanced smart devices, such as smart plugs, smart locks, smart light bulbs, and smart home security. The rising construction of smart homes - a combination of luxury and convenience - is also boosting the demand for smart home security cameras.

Rising consumer awareness regarding personal protection is offering positive growth opportunities to the market. For instance, according to a survey conducted by CheckVideo in December 2019, out of 5000 American consumers assessed, around 63.3% purchased video doorbell cameras to make their homes secure in all ways.

Additionally, according to the same survey, features such as motion sensors, door sensors, burglar alarms, spotlight cameras, and glass break sensors are important to consumers. Smart home security camera players offering technologically-advanced features are likely to witness higher demand in the foreseeable future. Ring’s Video Doorbell 3 Plus has a pre-roll function, which captures video to show what happened prior to the motion, and also includes features such as video recording and motion detection.

Furthermore, the COVID-19 outbreak has made consumers more conscious of their health and wellness. Consumers have been conscious about the safety measures to be followed and also ensured that any person entering their house follows the same. As a result, during this period, there has been a surge in demand for smart home security cameras, especially smart video doorbells, as, through the doorbell cameras, consumers could ensure that the person entering their home followed safety protocols.

Moreover, essential workers such as doctors, nurses, and bank employees had to continue working. This resulted in an increase in the installation of smart home security cameras among households with kids, as almost every school, college, and daycare center was closed. According to UNESCO, the education of nearly 1.6 billion pupils in 190 counties has so far been affected, i.e., 90% of the world’s school-age children. In many countries such as the U.S., there are still no definite plans for reopening schools. This presents the market with new growth opportunities.

Product Insights 

In terms of value, the wired camera segment dominated the market with a revenue share of over 50.0% in 2020. Wired security cameras are more secure, less expensive, and highly reliable because they can run on battery power. Consistency in video production is more important than ever. There are no monthly charges for cloud storage.

In addition, the recording devices are more complicated than the cameras in these systems, with cameras themselves being less expensive than their wireless counterparts. Thus, customers can save money by adding extra cameras to the system. To allow several devices to run simultaneously without overburdening the network, these cameras often use a single-cable Power Over Ethernet (PoE) connection. Companies are constantly adding new features to wired cameras, such as improved night vision, two-way audio with echo cancellation, and customizable motion zones.

The wireless segment is expected to register the highest CAGR of 18.4% from 2021 to 2028. Wireless technology-enabled security systems are one of the most significant advancements in home security solutions and IoT, with many homeowners preferring them for effective protection. For those that already use smart home products like Amazon Alexa and Google Assistant, smart cameras are a welcome addition to a broader smart home system.

Application Insights                                    

In terms of value, the indoor camera segment dominated the market with a share of over 35.0% in 2020.  This is mostly due to an increase in the number of theft and burglary cases, which has raised public awareness regarding the importance of protecting one's house from criminal activity. Indoor smart cameras offer a variety of capabilities, including instant messaging in the event of a theft, alarm activation, and movement and behavior recognition, which has led to their widespread use in a variety of applications.

Package theft is a common and frustrating problem for both homeowners and renters and doorbell cameras can help prevent this crime. Doorbell cameras are one of the most popular types of smart home devices for safety as well as convenience. Ring, SkyBell, Google Nest, Vivint, and Remo+ are the top five video doorbell brands in the region. In total, these five businesses sold almost 3 million cameras in 2020. Ring sold nearly as many video doorbells as SkyBell (approximately 800,000), Nest sold about 540,000, Vivint sold approximately 190,000 units, and Remo+ sold about 160,000; combined, the companies sold 1.4 million devices in 2020.

North America smart home security cameras market share, by application, 2020 (%)

The doorbell camera segment is expected to register the fastest CAGR of 18.2% from 2021 to 2028. An increasing number of smart cities in several countries is boosting the demand for safety and surveillance products in the market. Rapid urbanization has resulted in a large number of people living in multistoried apartments due to space constraints. This, in turn, is driving the need for robust smart security systems.

Country Insights 

The U.S. market held the largest revenue share of over 90.0% in 2020. Major manufacturers in North America have realized the potential of the market and thus, are adopting new strategies such as partnering with home developers and builders to establish their presence in the market. For instance, in April 2020, Arlo Technologies announced a partnership with Kartchner Homes, a premier home builder in Utah and Idaho. The partnership was aimed to integrate Arlo's Video Doorbell into homes constructed by the builder, providing homebuyers a premier solution in smart entry technology.

The market in Canada is projected to register a CAGR of 15.8% over the forecast period. Canada has a freezing winter season. Temperatures throughout the winter are usually below or around zero degrees Celsius and can tend to linger between -5 and -15 degrees Celsius. It rarely gets below -20 or -30 degrees Celsius, but it does happen. Heavy snowfall is common in November and December. In the case of wireless security cameras, the battery is the only source of power and this extreme cold condition substantially drains the camera battery, making it a very tricky option to install security cameras in Canada.

Key Companies & Market Share Insights

The North American market for smart home security cameras is characterized by the presence of numerous well-established players. The market is fragmented owing to the presence of a large number of smart home security camera manufacturers with a large customer base that contributes to the high competition in the market.

The increasing number of developments and innovations implemented by companies through various R&D activities and investments have significantly contributed to the market growth. To manufacture innovative smart home security cameras, companies are focusing on enhancing their production capacities through technological integration for production processes. Furthermore, a large number of companies are making strategic appointments to enhance their capabilities and improve organizational leadership. Some prominent players in the North America smart home security cameras market include:

  • Vivint Smart Home, Inc.

  • ADT LLC

  • Monitronics International, Inc.

  • SimpliSafe, Inc.

  • Brinks Home Security

  • iSmart Alarm, Inc.

  • LiveWatch Security LLC

  • Skylinkhome

  • Protect America, Inc.

  • SAMSUNG ELECTRONICS CO., LTD.

  • Frontpoint Security Solutions, LLC

  • Arlo Technologies, Inc.

  • Nest Labs

  • Wyze Labs, Inc.

  • blink

  • eufy

  • Ring LLC

North America Smart Home Security Cameras Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 2.49 billion

Revenue forecast in 2028

USD 7.88 billion

Growth Rate

CAGR of 17.4% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR (%) from 2021 to 2028

Report coverage

Revenue forecast, company profiles, competitive landscape, growth factors, and trends

Segments covered

Product, application, country

Regional scope

North America

Country scope

U.S.; Canada

Key companies profiled

Vivint Smart Home, Inc.; ADT LLC; Monitronics International, Inc.; SimpliSafe, Inc.; Brinks Home Security; iSmart Alarm, Inc.; LiveWatch Security LLC; Skylinkhome; Protect America, Inc.; SAMSUNG ELECTRONICS CO., LTD.; Frontpoint Security Solutions, LLC; Arlo Technologies, Inc.; Nest Labs; Wyze Labs, Inc.; blink; eufy; Ring LLC

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Segments Covered in the Report                                                                                                         

This report forecasts revenue growth at the regional and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the North America smart home security cameras market report on the basis of product, application, and country:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Wired

    • Wireless

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • Doorbell Camera

    • Indoor Camera

    • Outdoor Camera

  • Country Outlook (Revenue, USD Million, 2016 - 2028)

    • U.S.

    • Canada

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