Smart Home Security Camera Market Forecast 2024-2033

Overview and Scope
A smart home security camera refers to a device equipped with advanced features and connectivity capabilities designed to monitor and secure residential properties remotely. These cameras are typically part of a larger smart home ecosystem and can be integrated with other devices and systems for enhanced functionality and convenience.

Sizing and Forecast
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 growth in the historic period can be attributed to increased urbanization, decreased production costs, growth in awareness of home security, 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 growth in the forecast period can be attributed to IoT integration, AI and machine learning, privacy concerns and regulations, remote monitoring and control, customization and personalization. Major trends in the forecast period include sustainability, health monitoring, edge computing, enhanced cybersecurity measures, and integration with autonomous systems.

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Segmentation & Regional Insights
The smart home security camera market covered in this report is segmented –

1) By Product: Wired, Wireless
2) By Resolution: HD, Non-HD
3) By Distribution Channel: Online, Offline
4) By Applications: Doorbell Camera, Indoor Camera, Outdoor Camera

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.

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Major Driver Impacting Market Growth
The rising crime rates are expected to propel the growth of the smart home security camera market going forward. Crime rates refer to statistical measures used to quantify the prevalence and frequency of criminal activities within a specific geographical area or jurisdiction over a defined period. Rising crime rates can be attributed to factors such as socio-economic disparities, urbanization, drug-related activities, and insufficient law enforcement resources. Smart home security cameras help reduce crime by serving as a visible deterrent, providing real-time monitoring, and facilitating the identification and apprehension of criminals through recorded footage. For instance, in April 2024, according to Eurostat, a Luxembourg-based statistical office of the European Union (EU), there was a 17.9% increase in police-recorded thefts in the European Union in 2022 compared to 2021, with 26 out of 27 countries registering an increase. Similarly, police-recorded robberies increased by 9.7% in the EU between 2021 and 2022, with 20 out of 27 countries reporting an increase, while burglaries increased by 7.4%, with 17 out of 24 reporting an increase. Therefore, rising crime rates are driving the growth of the smart home security camera market.

Key Industry Players

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

The smart home security camera market report table of contents includes:

1. Executive Summary
2. Smart Home Security Camera Market Characteristics
3. Smart Home Security Camera Market Trends And Strategies
4. Smart Home Security Camera Market – Macro Economic Scenario
5. Global Smart Home Security Camera Market Size and Growth
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31. Smart Home Security Camera Market Other Major And Innovative Companies
32. Global Smart Home Security Camera Market Competitive Benchmarking
33. Global Smart Home Security Camera Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Smart Home Security Camera Market
35. Smart Home Security Camera Market Future Outlook and Potential Analysis
36.Appendix

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