Home Security Camera Global Market Overview:
The global home security camera market is showing immense growth; mainly due to the emergence of cloud technologies and increasing awareness regarding security and safety. Various types of home security cameras are being deployed such as dome security camera, bullet security camera, IP security camera, thermal security camera, PTZ security camera and others. Out of which, the IP security cameras is expected to hold the largest market share owing to the increasing implementation of the same and offer easy deployment options.
According to a recent study report published by Market Research Future, The global market of home security camera is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). Primary benefits of home security camera systems include continuous monitoring of the activities in and around home when the owner is not at home.
This helps in protecting the valuables at home, deterring the crime rate, and will ensure a feeling of safety in and around the house. Also, in case of crimes or any other accident, the home security cameras, will help in gathering evidence and will prove to be extremely beneficial. Home Security Cameras Market also help in monitoring pet activities and checking up on them. Home security camera systems allow the users to monitor the activities at home on their smartphones while they are on the go. This proves to be extremely convenient for the users in order to ensure safety at homes.
On the other hand, lack of privacy is an issue with the security cameras constantly monitoring each and every activity in and around the house. Also, deployment of home security cameras will require upgradation of infrastructure and will turn out to be a costly affair, which may hamper the market growth.
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Key Players:
- Hikvision (China)
- Motorola (U.S.)
- Leshi Video Type Co. Ltd (LSVT) (China)
- Netgear (U.S.)
- Zmodo (China)
- Nest Cam (U.S.)
- Icontrol Networks (U.S.)
- Canary (U.S.)
- Amcrest Technologies (U.S.)
- Uniden (Japan)
Industry News:
November 2017 – Motorola launches £60 Focus 68 home security camera which is considered to be the cheapest so far and will make home monitoring affordable for everyone. The Motorola Focus 68 turns any internet-enabled device, such as a smartphone or a tablet, into a fully functional home video monitor and can live stream in HD over Wi-Fi.
December 2017 – Netgear has launched Arlo Pro 2 which is a very much capable home camera system. These cameras systems are bit expensive in comparison with other camera systems and will require experts to install them. The battery for this device will last for up to six months and also can easily be charged.
December 2017 – Canary is bringing AI-powered person detection to its home security cameras for free. Person detection uses machine learning to accurately identify people within Canary video, sending the users specific person alerts when a human is detected by your Canary or Canary Flex, while still sending regular motion alerts for non-human activity.
Home Security Camera Global Market Competitive Analysis:
The market of home security camera appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape.
Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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Home Security Camera Global Market Segmentation:
The home security camera market can be classified into 6 key segments for the convenience of the report and enhanced understanding;
Segmentation by Product: Comprises of Dome Security Camera, Bullet Security Camera, IP Security Camera, Thermal Security Camera, PTZ Security Camera and Others
Segmentation by Type: Comprises of Indoor Security Camera and Outdoor Security Camera
Segmentation by Resolution: Comprises of Non HD, HD, FULL HD and UHD
Segmentation by Deployment: Comprises of Cloud & On Premise
Segmentation by Service: Comprises of Professional and Self-Installed & Monitored
Segmentation by Region: Comprises of Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Home Security Camera Global Market Regional Analysis:
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the home security camera market in North America owing to the presence of a large number of established key players such as Motorola, Netgear, Nest Cam, Icontrol Networks and Canary among others. Also, due to the drastic fall in the usage of native applications and a considerable shift towards the adoption of cloud based services in the region, the market is likely to show immense growth in the coming future.
Home security camera market in Asia Pacific is expected to show steady growth during 2017 to 2023 due to rise in IT technology and increasing awareness regarding safety and security in the region. Whereas, the Europe market for home security camera is expected to grow at a considerable CAGR (2017-2023).
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