Press release
Home Security Market Size, Historical Analysis, Emerging Technologies, Global Trends and Industry Set For Rapid Growth with 11% of CAGR by Forecast 2023
Home security cameras have become an inherent part of residential home security systems. Market Research Future, a firm which specializes in market reports related to the information and communication technology sector among others, recently published a report on this market. The home security camera segment will achieve growth worth USD 8 Billion by 2023 with a complementing CAGR of 11%.
The home security cameras market has expanded at an astonishing pace due to the increased number of residential properties that have been constructed recently and the accelerated pace of urbanization. The benefit of being able to self-monitor the safety of one’s home remotely and have digital footage for the same has made the option of home security quite lucrative. The entry of established and new contenders has further diversified the market.
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Major Key Players:
The key players in home security camera market are Hikvision (China), Motorola (U.S.), Leshi Video Type Co. Ltd (LSVT) (China), Netgear (U.S.), Zmodo (China), Nest Cam (U.S.) among others.
Industry Segments
The home security camera market is segmented on the basis of product, type, resolution, deployment, service and region.
On The Basis Of Product: Dome security camera, bullet security camera, IP security camera, thermal security camera, PTZ security camera and others
On The Basis Of Type Indoor security camera, outdoor security camera
On The Basis Of Resolution: Non HD, HD, FULL HD and UHD
On The Basis Of Deployment: On-premise, cloud
On The Basis Of Service: Professional, self-installed & monitored
On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa
IP cameras are well known as simple organization alternatives for security solutions. IP cameras are available in wired wireless versions. Wireless IP security cameras offers ease of installation and removes the cost of network cabling when adding them to the home security system. They are Wi-Fi enabled and hence immensely popular. The PTZ (Pan/Tilt/Zoom) cameras have positive growth prospects in future.
Detailed Regional Analysis:
It has been witnessed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The regional analysis of home security camera market includes regions such as Asia Pacific, North America, Europe and Rest of the World. The major growth in home security camera market in North America is attributed to the increasing investments in the smart grid projects and changing preferences of consumers in that region.
Global Competitive Analysis:
With the entry of new industry players in the home security camera segment, a trend of volume-driven growth has been observed to prevail in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
Somfy Systems, Inc. has recently made its U.S. entry into smart home security with the Somfy Outdoor Camera, which will be showcased at an expo this month. The Somfy Outdoor Camera takes on a preventive approach. With a customized voice alert that plays when an unexpected person enters into the specified zone. If the intruder does not leave within a preset time, the built-in 110-decibel siren will sound. With SomfyVision technology, the camera can distinguish human movement from other types of movement, such as that of a pet or car. This minimizes the potential for a false alarm.
Latest Industry News:
Aug 2018 The Company, Ring, has evolved to the home security market and has announced a pair of new indoor/outdoor video cameras to better compete with its rivals, as well as a series of outdoor security lights.
Jan 2018 SimplySmart Home's new Cube wireless home security camera aims to make DIY security quick and fuss-free. The Cube is a wire-free indoor/outdoor HD security camera you can attach to your wall with a 3M command strip or with screws. The camera uses Bluetooth and Wi-Fi when it senses motion or voice. An included doorbell module alerts the camera to record when someone rings the doorbell.
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Jan 2018 Yves Behar's design studio Fuseproject has created a cube-shaped indoor security camera that detaches from its base. Fuseproject has once again teamed up with Hive, a sister brand of UK energy supplier British Gas, for which the studio designed an internet-connected thermostat in 2015. According to Hive, the camera can be set to detect people only, so that pets won't trigger the capture. The cube-shaped camera has a 130-degree field of view, and can be dismounted from its slender aluminium base to be placed anywhere in the home. The Hive View device begins recording once it detects motion or sound, and sends a notification to the user's smartphone to alert them. As well as now launching the thermostat in the US, Behar's team has produced a security camera for the company.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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