North America Smart Home Security Cameras Market Size, Share & Trends Analysis Report By Product (Wired, Wireless), By Application (Doorbell Camera, Indoor Camera), And Segment Forecasts, 2023 - 2030

Report Overview

The North America smart home security cameras market size was valued at USD 2.99 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 19.8% from 2023 to 2030. The rapid adoption of IoT in smart homes is supporting industry 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.

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 industry. 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, which is also driving 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 product demand. In addition, product features, such as motion sensors, door sensors, burglar alarms, spotlight cameras, and glass break sensors, are important to consumers. Companies offering such 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 before 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 of 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 increased 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. This presents the market with new growth opportunities.

Product Insights

In terms of value, the wired camera segment dominated the industry in 2022 and accounted for the largest revenue share of 53.60% of the overall revenue. Wired security cameras are more secure, less expensive, and highly reliable as 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 from 2023 to 2030. 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 industry with a share of over 38.90% in 2022. 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 it. 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. The ring sold nearly as many videos 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. The doorbell camera segment is expected to register the fastest CAGR from 2023 to 2030. 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 89.45% in 2022. 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 aimed to integrate Arlo's Video Doorbell into homes constructed by the builder, providing homebuyers with a premier solution in smart entry technology. The market in Canada is projected to register the fastest CAGR over the forecast period. However, in the case of wireless security cameras, the battery is the only source of power, and the extreme cold temperatures in Canada during winter substantially drain the battery, which may hamper the market to an extent.

Key Companies & Market Share Insights

The North America regional market is characterized by the presence of numerous well-established players and is fragmented owing to the presence of a large number of smart home security camera manufacturers with strong customer networks. The increasing number of developments and innovations implemented by companies through various R&D activities and investments have significantly contributed to the region’s 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 of the major strategic initiatives undertaken by market players are listed below:

• In August 2021, SimpliSafe released the SimpliSafe Wireless Outdoor Security Camera, designed to help stop crime before it happens. With an adjustable magnetic mount, the SimpliSafe Outdoor Camera does not require any wiring and can be self-installed with ease in less than five minutes. Furthermore, a removable, rechargeable battery that lasts up to three to six months on a single charge, pending settings, usage, and placement powers the SimpliSafe Wireless Outdoor Security Camera

• In June 2021, Arlo Technologies, Inc. launched the Ultra Series of security cameras, the Ultra 2 Wire-Free Spotlight Camera System. The Ultra 2 delivers an enhanced user experience, building on advanced features, such as 4K video with HDR, an ultra-wide 180-degree field of view, and more

• In April 2021, Nest Labs launched a new indoor security camera, Nest Cam IQ. The device features a 4K camera and deploys some of the AI technology Google has been developing in recent years. The camera includes an 8-megapixel, 4K sensor that allows for 12X digital zoom, enough resolution to zoom in on a face across the room and capture a clear image. The camera records video in 1080p, so the 4K sensor is used largely to power the zoom feature

Some of the 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

North America Smart Home Security Cameras Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the North America smart home security camera market report based on product, application, and country:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Wired

  • Wireless

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Doorbell Camera

  • Indoor Camera

  • Outdoor Camera

• Country Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada