|02-12-2019 09:51 AM CET - IT, New Media & Software||
Home Security Camera Market 2019 – 2023 Global Key Leaders by: Hangzhou Hikvision Digital Technology Co. Ltd, Motorola Home, Shenzhen Leshi Video Tech. Co., Ltd, ADT Security Services
Press release from: Market Research Future
Home Security Camera Market Snapshot:
Market Research Future (MRFR) postulates in its latest report that the home security camera market is on its way to record a value of USD 1,306.3 Million by 2023. The market will register an impressive growth at a whopping CAGR during the forecast period (2017-2023).
With the launch of new products with innovative features such as Blink XT Home Security Camera System and Blink Indoor Home Security Camera System, the market is ripe with ambitious players striving to gain an edge over their competitors. For instance, in April 2018, YI launched a cloud home security camera instilled with motion detection, cloud storage, two-way audio, and night vision with 1080p full HD support.
The primary aspect helping home security camera manufacturers to generate massive sales revenues is the elevated demand for security cameras among individuals wanting to feel secure. Security cameras in residential places (homes) help detect any kind of suspicious behavior of intruder, thereby keeping a close check on pets or kids, particularly when away from home.
A statistical analysis shows that Home Security Camera Market in New Jersey single-handedly brought down the crime rate by 50% between 2003 and 2006. As households need to avoid the risk of loss and damage to their homes, security cameras are fast growing as a compromise between vigilance in security, safety, peace-of-mind, and cost. A variety of security cameras is doing the round in the market, including internet protocol (IP) camera, wireless camera, pan–tilt–zoom (PTZ) camera and dome camera, enabling the users to monitor as well as control the camera with the help of smartphones. The burning issue of security in developing economies has been the major driving force behind the strong growth of the home security camera market. The growing urbanization and infrastructural developments in various regions of the world are additional factors promoting the growth of the market as well.
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The well-known vendors in the home security camera market are Motorola Home (U.S.), Godrej Security Solutions (India), Netgear, Inc. (U.S.), FrontPoint Security Solutions, LLC (U.S.), ADT Security Services (U.S.), Hangzhou Hikvision Digital Technology Co. Ltd (China), Vivint, Inc. (U.S.), Shenzhen Leshi Video Tech. Co., Ltd (China), Panasonic Corporation (Japan), SimpliSafe (U.S.), Nest Cam (U.S.) among others.
The forecast period will see the rise in adoption of app-based security cameras for homes with gated communities. This is because residents want complete control over visitor authentication as well as validation, even from a remote location. This is where an app-based security system comes into play, as the biggest advantage of this type of systems is that they are free of capital investment. In addition, they are continuously evolving to tackle the rapid changes that happen around the house.
The market for home security camera is segmented on the basis of product, type, resolution, and services.
• The product segment is fragmented into dome security camera, bullet security camera, IP security camera, thermal security camera, PTZ security camera, and others. The market was led by dome security camera in 2017, predicted to show the highest growth rate.
• The type-based segments in the market include indoor and outdoor cameras, with outdoor security cameras accounting for the larger market share in 2017. The segment will be growing at the highest CAGR during the conjectured period.
• Resolution-wise, the market is segmented into non-high definition (HD), and HD. In 2017, the market was dominated by HD, which is anticipated to show the highest CAGR.
• Depending on services, the market caters to professional services and managed services, wherein professional services dominated the market in 2017, and is slated to show the highest CAGR.
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The global home security camera market is divided into the key regions of Europe, Asia Pacific, North America, and the Middle East and Africa (MEA).
North America managed to grab the lion’s share of the global home security camera market, valued at USD 261.3 Million in 2017. The regional market is projected to continue its dominance throughout the forecast period, with the presence of major technology giants and start-ups along with wider adoption of home security camera favoring the market growth. Also, continuous advancements in video analytics for security and safety in homes have been additional factors helping the market to gear up in the region.
Europe has been observed to be the second-largest market in 2017, as a result of the supporting government initiatives and progressing technological developments in the field.
However, it is Asia Pacific that is set to witness major growth rate of CAGR 10.4% during the review period. The region is heading for a more lucrative market for home security camera with the growing advancement in infrastructure, and growing support from government bodies. Numerous emerging companies that provide services, plus the rise of technology are leading to the steep growth of the regional market. The market also flourishes due to constant efforts by players such as Hikvision, Net Gear, Leshi Video Type Co. Ltd, and Nest Cam, in the form of massive investments.
November 2018 – Arlo is planning to launch a 4K security camera in 2019, which will help the company steal the lead on its competitors, kicking off a fresh series of competition in the home security camera market. Compared to high definition (HD), a 4K image resolution is four times sharper, which means extra clarity and extra detail when users zoom in on images.
• Software Developers
• Optical Lens manufacturers
• Installation Service Providers
• Hospitals and Commercial Sector
• Technology Integrators
• Technology Investors
• Research Organizations
• Analysts and Strategic Business Planners
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Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
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