A home security camera is a surveillance camera that can be deployed either outside or inside the house/building to monitor suspicious activities happening in and around the premise. There is a various cameras such as wireless camera, IP camera, dome camera, and PTZ camera that enable the users to control and monitor the camera with the help of smartphones. Security issues in developing countries are the major factor driving the growth of home security camera market.
Home security cameras are available in a wide variety of specifications, sizes, and resolution, but their prime function is to capture and store a video for security purpose. Home security cameras help to monitor the activities in the house as well as around the house. Major factors driving the home security camera market are ease of installation of security cameras and the increasing awareness of the security needs. Introduction of new features such as motion detection with text message alerts and remote view on mobile devices has transformed the scenario of Home Security Camera Market.
Use of security camera has been in existence in offices and stores for a long time, but now security has become paramount in the residential sector as well. Owing to this, home security camera segment is gaining immense popularity among the consumers. Also, with the advancements in wireless technologies, security camera solutions have also advanced. The global home security camera market has been segmented based on type, service, resolution, product, and region. There has been significant growth in commercial and residential security concern in countries such as India and China. At present, China has the world’s largest number of surveillance cameras installed across the country. Thus, the region has become lucrative for the firms that provide home security camera.
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Major Key Players:
- Hangzhou Hikvision Digital Technology Co. Ltd (China)
- Motorola Home (U.S.)
- Shenzhen Leshi Video Tech. Co., Ltd (China)
- Netgear, Inc. (U.S.)
- ADT Security Services (U.S.)
- FrontPoint Security Solutions, LLC (U.S.)
- Vivint, Inc. (U.S.)
- SimpliSafe (U.S.)
- Panasonic Corporation (Japan)
- Godrej Security Solutions (India)
- Nest Cam (U.S.)
- The global home security camera market is expected to reach USD 1,306.3 Million by 2023.
- By product, the market was dominated by dome security camera in 2017 and is also expected to show the highest growth rate.
- By type, the market was dominated by outdoor security cameras in 2017 is also expected to show the highest CAGR.
- By resolution, the market was dominated by HD in 2017 and is also expected to show the highest CAGR.
- By services, the market was dominated by professional services in 2017 and is expected to show the highest CAGR.
- Geographically, North America was dominating in 2017. Asia Pacific will show the highest growth rate
- The global home security camera market is classified into the product, type, resolution, and services.
- On the basis of product, the market is further classified into dome security camera, bullet security camera, IP security camera, thermal security camera, PTZ security camera, and others.
- On the basis of the type the market is further classified into the indoor security camera, and outdoor security camera.
- On the basis of resolution, the market is further classified into non-HD, and HD.
- On the basis of services, the market is further segmented into professional services and managed services.
- The global home security camera market is studied for North America, Europe, Asia Pacific and Rest of the world
North America dominates the global home security camera market with a market value of USD 261.3 Million in 2017 and is expected to continue dominance through the forecast period. The presence of major technology giants and start-ups, wide adoption of home security camera are promoting the market growth. However, Asia Pacific shows the major growth rate of CAGR 10.4% through the forecast period. The region is experiencing growing advancement in infrastructure, support from government bodies, and various emergence new companies providing services, and the rise of technology are the major reasons for this steep growth in the region.
The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality home security camera services, to survive and succeed in an intensely competitive market environment.
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