GVR Report cover Smart Home Security Camera Market Size, Share & Trends Report

Smart Home Security Camera Market Size, Share & Trends Analysis Report By Product (Wired, Wireless), By Application (Doorbell Camera, Indoor Camera, Outdoor Camera), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68038-529-8
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global smart home security camera market size was valued at USD 6.42 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.7% from 2022 to 2030. Rapid growth in smart home penetration across North America is positively impacting the demand for smart home security cameras. According to a report by Security InfoWatch in July 2021, the U.S. has the highest smart home technology penetration rate in the world at 40.1%. Additionally, according to a study by Fixr, in 2019, 68% of people in the U.S. were familiar with smart security systems and 53% were most likely to own one.The COVID-19 pandemic has brought about a seismic shift in people’s attitudes toward wellness and security. The industry has been witnessing a few pivoting factors determining consumers’ spending on security devices i.e., working from home, conducting purchases through online platforms, and additional spending leeway realized from not having any outdoor leisure and travel expenditures.

U.S. smart home security camera market size, by product, 2020-2030, (USD Million)

The rapid adoption of IoT in smart homes is also 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.

From smart lighting to smart thermostats, tech companies are making more intelligent products than ever before. The launch of new products with improved capabilities is favoring the market growth.  Manufacturers have been focusing on developing new products for specific applications as there are varying demands based on the utilization and application of the devices.

Key players are taking the necessary steps to improve the accuracy and overall functionality of the devices. Although tech giants like Amazon, Google, and Apple are at the forefront, it is in the startup space where many of these new ideas and inventions are uncovered. For instance, in March 2020, Vivint Smart Home launched the Vivint Doorbell Camera Pro, an AI-powered doorbell camera that intelligently detects packages and actively helps protect them from porch pirates and other potential threats. The doorbell camera provides homeowners with peace of mind by helping to prevent crime before it happens.

Smart home tech startups are on the rise all over the world. However, like many other sectors, the majority of smart home tech companies are located in the U.S., which is home to 393 of such companies. Other leading countries include China, with 118, and the U.K. with 66. Germany and India also find themselves in the top-5 list, with 42 and 40 startups, respectively, as of 2021.

Product Insights

The wired smart home security camera occupies the highest market share over the forecast period. Companies are constantly adding new features to wired cameras, such as improved night vision, two-way audio with echo cancellation, and customizable motion zones.

Ring, a security camera producing company, for example, released the Ring Floodlight Cam Wired Pro in April 2021, which includes features such as 3D Motion Detection and Bird's Eye View, a 110db siren and color night vision, Audio+ that improves consumer hearing, Customizable Motion Zones that trigger recordings, and Privacy Zones that exclude areas in the camera field of view from video recording. Ring Floodlight Cam Wired Pro users can easily hardwire the device to the outside of their homes and link it to Wi-Fi for continuous power.

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.Customers can save more video for longer than they can with a wired system because most wireless cameras use cloud storage. Customers must pay a premium for some cloud services that give up to 60 days of footage. Wireless cameras are also an excellent option for renters because they are simple to set up and remove. Their adaptability makes them a suitable choice for customers who believe they may need to reposition the cameras in the future.

Application Insights

Indoor cameras occupy the largest market share globally in the smart home security camera market as of 2021.An indoor security camera is an economical alternative to a full security system for consumers who live in small apartments and want to keep an eye on their belongings when they are not at home. Nearly all freestanding security cameras link to a customer's home Wi-Fi so they can check on things from their cellphone or tablet. A majority of these cameras include built-in motion and sound sensors that send push and email notifications when those sensors are triggered. 

Global Smart home security camera market share, by application, 2021, (%)

The doorbell camera is anticipated to register faster growth during forecast years with a CAGR of 19.3% from 2022 to 2030. According to Security.org's survey on “porch pirates” in 2019, 40% of Americans have had delivered packages stolen from their doorstep, while they were off to work. However, with a doorbell camera, consumers are notified as soon as the packages are delivered and they can even instruct the deliverymen where to place them. As 52% of Americans are concerned that a package may be stolen during the holidays, 23% of those polled in 2020 by C+R Research indicated they would install a doorbell or surveillance camera to avoid theft.

Regional Insights

North America made the largest contribution to the global market with a share of 40.4% in 2021. According to Berg Insight’s research published in March 2021, the North American smart home market recorded strong growth during 2019, increasing by 28.5% (YoY) to reach 172.6 million smart home systems in 43.1 million smart homes. This corresponds to 30.2% of all households, placing North America in the most advanced smart home market in the world.

A study conducted by the University of North Carolina at Charlotte shows that security cameras were the most effective deterrents to break-ins, with 50% saying they would abandon their attempts if they saw a camera. Jeff Welch, a former corrections officer and founder of Grab The Axe Security Consultants LLC, explained that having video evidence of the home being broken into can help expedite insurance claims.

Asia Pacific is deemed to be the fastest-growing region. Countries in Asia Pacific are heavily surveilled and China is one of the most covered countries. Globally, there are already 770 million cameras in use, with 54% of these being in China. According to a survey by Comparitech, 16 out of the top 20 most surveilled cities (based on the number of cameras per 1,000 people) are in China.

Key Companies & Market Share Insights

The market is characterized by the presence of numerous well-established players such as Vivint Smart Home, Inc., ADT LLC, Samsung Electronics Co., Ltd., and Arlo Technologies. The market is fragmented in nature owing to the presence of a large number of manufacturers with a large customer base that contributes to the high competition in the market.

  • 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 2020, 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.

Some of the key players operating in the global home security camera market include:

  • Vivint Smart Home, Inc.

  • ADT LLC

  • Simplisafe, Inc.

  • Brinks Home Security

  • iSmart Alarm, Inc.

  • Live Watch Security LLC

  • Skylinkhome

  • Protect America, Inc.

  • SAMSUNG ELECTRONICS Co., LTD.

  • Frontpoint Security Solutions, LLC

  • Arlo Technologies, Inc.

  • Nest Labs

  • Wyze Labs, Inc.

  • Blink

  • Ring LLC

Smart Home Security Camera Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 7.37 billion

Revenue forecast in 2030

USD 30.10 billion

Growth Rate

CAGR of 18.7% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD Million and CAGR from 2022 to 2030

Report coverage

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

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central and South America; Middle East and Africa

Country scope

U.S.; Germany; U.K.; India; China; Brazil

Key companies profiled

Vivint Smart Home, Inc.; ADT LLC; Simplisafe, Inc.; Brinks Home Security; iSmart Alarm, Inc.; Live Watch Security LLC; Skylinkhome; Protect America, Inc.; SAMSUNG ELECTRONICS Co., LTD.; Frontpoint Security Solutions, LLC; Arlo Technologies, Inc.; Nest Labs; Wyze Labs, Inc.; Blink; Ring LLC

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

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

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

    • Wired

    • Wireless

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

    • Doorbell Camera

    • Indoor Camera

    • Outdoor Camera

  • Regional Outlook (Revenue, USD Million; 2017 - 2030)

    • North America

      • U.S.

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

    • Central and South America

      • Brazil

    • Middle East and Africa

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