Smart Home Security Camera Market Size, Share & Trends Report

Smart Home Security Camera Market Size, Share & Trends Analysis Report By Technology (Wired Camera, Wireless Camera), By Application (Doorbell Camera, Indoor Camera, Outdoor Camera), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-529-8
  • Number of Report Pages: 171
  • Format: PDF, Horizon Databook
  • Historical Range: 2017 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Consumer Goods

Research Methodology

A three-pronged approach was followed for deducing the smart home security camera market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for smart home security camera market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of smart home security camera market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Smart Home Security Camera Market Categorization:

The smart home security camera market was categorized into three segments, namely technology (Wired, Wireless), application (Doorbell Camera, Indoor Camera, Outdoor Camera), region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The smart home security camera market was segmented into technology, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The smart home security camera market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into six countries, namely, the U.S.; the UK; Germany; China; India; Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Smart home security camera market companies & financials:

The smart home security camera market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Vivint Smart Home, Inc. - Vivint Smart Home, Inc. offers a comprehensive smart home system that includes in-home consultations, professional installation, and ongoing support through its team of Smart Home Pros. This approach enhances Vivint's ability to provide exceptional experiences at every stage of customer interaction, ensuring a seamless end-to-end smart home experience. Customers can tailor their solutions by incorporating various smart devices such as indoor and outdoor cameras, doorbell cameras, locks, lights, thermostats, garage door controls, car protection features, and various safety and security sensors. The company's subscribers can easily engage with their connected homes using their voice or mobile devices from anywhere and anytime.

  • ADT Inc. - ADT Inc. is a prominent provider of security, automation, and smart home solutions, catering to consumer and business clients across the United States. The company excels in safeguarding and connecting its customers through various services. This includes 24/7 professional monitoring services and lifestyle-driven solutions delivered through various channels. ADT offers professionally installed "do-it-for-me" (DIFM) solutions, empowering customers who prefer a hands-off approach, as well as "do-it-yourself" (DIY) options for those who prefer a more hands-on experience. Additionally, ADT extends its services through mobile and digital-based offerings, providing comprehensive solutions for residential, small businesses, and large commercial customers.

  • SimpliSafe, Inc. - SimpliSafe, Inc. specializes in the design of user-friendly home security systems that are wireless and cellular-enabled, allowing for easy installation by anyone within a matter of minutes. The company's systems incorporate an expanding array of sensors, complemented by the SimpliCam security camera, ensuring comprehensive protection. Integrated mobile apps facilitate complete system control from any location. In addition to its user-friendly approach, SimpliSafe offers seamless 24/7 professional monitoring services.

  • Brinks Home Security - Brinks Home Security caters to residential and commercial clients, providing monitored security systems for homes and businesses in the U.S., Canada, and Puerto Rico. The company offers a range of options, including home automation, life safety features, and advanced security solutions. Brinks Home Security's services include monitoring for various alarm signals such as burglaries, fires, and medical alerts through on-site security systems. In addition to security services, the company provides a comprehensive platform for home automation and life safety.

  • Xiaomi Inc. - Xiaomi Inc. is a consumer electronics and smart manufacturing firm focusing on smartphones and smart equipment linked via an Internet of Things (IoT) network. The company strives to make high-quality technology available to everyone while pursuing continual innovation, high-quality user experience, and operational efficiency. Xiaomi's IoT platform enables its smartphones to serve as "omni-remote controls" for various smart gadgets. Xiaomi also sells smart home security equipment such as security cameras, doorbells, sensors, and alarms.

  • Skylinkhome - Skylinkhome specializes in wireless access control and home automation technologies, prioritizing a deep understanding of consumers' evolving needs and lifestyles. The company aligns its innovations with these requirements to deliver cutting-edge technology solutions. Skylinkhome's diverse product portfolio includes Garage Door Openers, SkylinkNet Alarm Systems, Wireless Alarms and Alert Systems, Universal Garage and gate Control Systems, Home Automation, and Automatic Swing Door Openers.

  • Protect America, Inc. - Protect America offers home security systems with door/window sensors, motion detectors, and 24/7 professional monitoring services. The company provides wireless equipment, making installation relatively straightforward for customers.

  • Samsung Electronics Co, Ltd. - Samsung Electronics Co., Ltd. has four main business segments: Consumer Electronics, Information Technology & Mobile Communications, Device Solutions, and Harman. Within the Consumer Electronics division, the company offers a range of products, including monitors, digital TVs, air conditioners, and refrigerators. The Information Technology & Mobile Communications division develops and produces mobile phones, communication systems, and computers. The Device Solutions division is involved in creating semiconductor products, such as memory, foundry, and system LSIs, as well as display products like OLED and LC panels. The Harman division encompasses connected car systems, audio and visual products, enterprise automation solutions, and connected services. The company was established in 1969 and headquartered in South Korea.

  • Frontpoint Security Solution, LLC - Frontpoint Security Solution, LLC revolutionized the home security industry by pioneering do-it-yourself (DIY) home security systems. Focusing on installing, monitoring, and maintaining security technology solutions, including fire alarms and home security systems, Frontpoint caters to residents across the United States. Frontpoint distinguishes itself by providing customers with the tools and guidance to install a customized home security system effortlessly.

  • Arlo Technologies, Inc. - Arlo Technologies, Inc. integrates an intelligent cloud infrastructure and a mobile app with a diverse range of smart connected devices. Leveraging extensive expertise in product design, wireless connectivity, cloud infrastructure, and advanced AI capabilities, the company is dedicated to providing Arlo users with a seamless and intelligent smart home experience. Arlo focuses on simplifying the setup process and enhancing user interaction with their smart home devices. The cloud-based platform offers users visibility, insights, and real-time connectivity, allowing them to protect and stay connected with people and objects from any location with either Wi-Fi or cellular connectivity.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Smart Home Security Camera Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2022, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Smart Home Security Camera Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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