Press release
Surging Crime Rates Fuels Growth In The Smart Home Security Camera Market Driver: A Major Catalyst in the Evolution of the Smart Home Security Camera Market in 2025
Smart Home Security Camera Market Size
Recent years have seen robust growth in the size of the smart home security camera market. Its size, which stands at $6.56 billion in 2024, is predicted to increase to $6.98 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.5%. The significant growth observed in the past can be credited to factors like rising urbanization, reduced manufacturing costs, heightened awareness around home security, development of smart home ecosystems, and a societal move towards digitalization._x000D_
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Expectations are high for robust expansion in the smart home security camera market in the coming years, with projections suggesting it will elevate to $9.05 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.7%. This expected growth during the forecast period is due to factors such as the integration of IoT, AI and machine learning, concerns about privacy and regulatory requirements, remote access and control, together with customization and personalization features. Key trends to watch during this forecast period encompass sustainability, health monitoring, edge computing, improved cybersecurity protocols, and integration with self-governing systems._x000D_
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What Are the Key Drivers Behind the Growth of the Smart Home Security Camera Market?_x000D_
The escalation of criminal activities is projected to stimulate the expansion of the smart home security camera market. Crime rates are statistical indicators that determine the frequency and commonness of criminal occurrences within a particular geographic location or jurisdiction over a specific timeframe. Factors such as socio-economic inequality, urbanization, narcotics-related activities, and inadequate law enforcement resources can lead to a surge in crime rates. Smart home security cameras aid in curtailing crime by acting as a noticeable deterrent, offering real-time surveillance, and assisting in the recognition and arrest of criminals through captured footage. For example, in April 2024, Eurostat, the statistical institution of the European Union (EU) based in Luxembourg, reported a 17.9% rise in thefts recorded by police in the EU in 2022 compared to 2021, with an upward trend in 26 out of 27 countries. Correspondingly, the number of robberies recorded by the police saw an upward trend of 9.7% in the EU between 2021 and 2022, with an increase reported in 20 out of 27 countries, while the number of burglaries rose by 7.4%, with an increase reported in 17 out of 24 countries. Thus, escalating crime rates are fuelling the expansion of the smart home security camera market._x000D_
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Who Are the Major Industry Players Fueling Smart Home Security Camera Market Expansion?_x000D_
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_x000D_
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Which Key Developments Are Influencing the Smart Home Security Camera Market?_x000D_
Leading firms in the smart home security camera industry are innovating 360° security cameras with sophisticated functions, including two-way vocal communication capabilities, to gain a competitive edge. Two-way voice calling enhances the security, convenience, and connectivity offered by these cameras, allowing homeowners to continually monitor and communicate with their home surroundings, whether they are present or away. For example, Xiaomi Inc., a Chinese electronics firm, in January 2024 launched its new Mi 360° Home Security Camera 2K. This cutting-edge camera, which features top-notch 2K display quality and advanced AI, provides improved surveillance for houses. It also possesses a 3-megapixel sensor and an F1.4 wide aperture, ensuring detailed images even in poorly lit conditions. This is accompanied by an enhanced 6P lens that minimizes light refraction and provides clearer images. Additional features include optimized infrared night vision, AI-driven human detection, and full 360° panoramic monitoring. Users also benefit from real-time, two-way voice calls and space saving with superior video encoding technology._x000D_
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How Is the Segmentation of the Smart Home Security Camera Market Defined?_x000D_
The smart home security camera market covered in this report is segmented -_x000D_
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1) By Product: Wired, Wireless_x000D_
2) By Resolution: HD, Non-HD_x000D_
3) By Distribution Channel: Online, Offline_x000D_
4) By Applications: Doorbell Camera, Indoor Camera, Outdoor Camera_x000D_
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Subsegments:_x000D_
1) By Wired: Analog Wired Cameras, IP Wired Cameras, PoE (Power Over Ethernet) Cameras_x000D_
2) By Wireless: Wi-Fi Cameras, Bluetooth Cameras, Battery-Operated Cameras, Cloud-Based Cameras_x000D_
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What Is the Leading Region in the Smart Home Security Camera Market?_x000D_
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._x000D_
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What Is Covered In The Smart Home Security Camera Global Market Report?_x000D_
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- Market Size Analysis: Analyze the Smart Home Security Camera Market size by key regions, countries, product types, and applications._x000D_
- Market Segmentation Analysis: Identify various subsegments within the Smart Home Security Camera Market for effective categorization._x000D_
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape._x000D_
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market._x000D_
- Market Contribution: Evaluate contributions of different segments to the overall Smart Home Security Camera Market growth._x000D_
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers._x000D_
- Industry Challenges: Analyze challenges and risks affecting the Smart Home Security Camera Market._x000D_
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market._x000D_
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