The Global Smart Home Security Cameras Market size is expected to reach $10.4 billion by 2026, rising at a market growth of 16.5% CAGR during the forecast period. A home security camera is a surveillance device that can be installed either outside or within the house/building to monitor suspicious activities in and around the premises. Various cameras, such as wireless cameras, IP cameras, dome cameras, and PTZ cameras, enable users to access and monitor the camera using smartphones. Security issues in developing countries are a key driver of the growth of the home security camera market.
Growing penetration of smart homes, particularly in developing and developed countries around the globe, is driving demand for smart home security cameras. In addition, the increasing prominence of security devices through the home automation process to access security 24/7 paves the way for different indoor and outdoor security smart home security cameras. Increased expansion of home automation devices, such as lights, locks, and security cameras, with remote technology on smartphones, tablets, or wearables, generates greater consumer demand to ensure maximum safety.
Artificial Intelligence (AI), Virtual Reality (VR) and Augmented Reality (AR) solutions are expected to make a significant contribution while responding to the COVID-19 pandemic and addressing ever-changing challenges. The current situation as a result of the outbreak of the epidemic will encourage pharmaceutical suppliers and healthcare establishments to enhance their R&D investment in AI, acting as a key technology for enabling various initiatives.
The insurance industry is expected to face the pressure associated with cost-efficiency. Using AI will help reduce operating costs and, at the same time, increase customer satisfaction during the renewal process, claims, and other services. VR/AR will assist in e-learning, which would boost competition due to the closure of many schools and universities. Furthermore, VR/AR may also prove to be a valuable solution in delivering remote assistance as it can also avoid needless travel.
Based on Application, the market is segmented into Doorbell Camera, Indoor Camera and Outdoor Camera. Based on Product, the market is segmented into Wired and Wireless. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix, Samsung Electronics Co., Ltd. is the major forerunner in the Smart Home Security Camera Market. Companies such as ADT, Inc., Vivint Smart Home, Inc., Godrej Group, and Arlo Technologies, Inc., SimpliSafe, Inc., and iSmart Alarm, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Godrej Group (Godrej Security Solutions), Samsung Electronics Co., Ltd. (Samsung Group), Arlo Technologies, Inc., Vivint Smart Home, Inc., ADT, Inc. (Apollo Global Management, Inc.), SimpliSafe, Inc., Protect America, Inc., FrontPoint Security Solutions, LLC, Skylinkhome Technologies, Inc., and iSmart Alarm, Inc.
Recent strategies deployed in Smart Home Security Camera Market
Partnerships, Collaborations, and Agreements:
Apr-2020: Arlo Technologies announced partnership with Kartchner Homes, a premier home builder in Utah and Idaho. The partnership was aimed to integrate Arlo’s Video Doorbell into homes built over the next 12 months providing homebuyers a premier solution in smart entry technology.
Feb-2020: ADT came into partnership with HHHunt, a diversified leader in real estate development. The partnership was aimed to install smart home and property automation technology into new and existing HHHunt multifamily and student housing communities.
Jun-2019: ADT signed a partnership agreement with BH Management Services, LLC, a leading multifamily property management company. The partnership was focused on providing smart technology integration and convenience services.
May-2019: Vivint collaborated with Georgia Power, one of the nation’s largest generators of electricity. Together the companies aimed to bring customers the latest in-home security and automation solution. Vivint has been exclusively offering Georgia Power’s customers who sign up for Vivint’s home security and automation system a $0 activation fee, free installation, and a Vivint Element Thermostat. Georgia Power customers also have access to exclusive offers on Vivint’s integrated smart home system with in-home consultation, professional installation, and 24/7 customer support.
Acquisition and Mergers:
Jan-2020: Vivint Smart Home merged with Mosaic Acquisition Corporation. The combined company has been named as Vivint Smart Home. Vivint’s smart home technology empowers the customer to control the entire home from one app, and its offering is delivered with a customer-focused approach to sales, installation, and service.
Oct-2019: ADT acquired I-View Now, a leading video alarm verification service. I-View Now’s verification technology, paired with the core monitoring strengths of ADT, helped to reduce false alarms and optimize priority response from emergency services.
Product Launches and Product Expansions:
Jun-2020: Arlo Technologies introduced the Essential Spotlight Camera. This is the latest addition to Arlo’s smart home security ecosystem, which is easy to install anywhere, indoors, or out. The Essential Spotlight Camera features 1080p HD video, two-way audio, an integrated spotlight with color night vision, and motion detection alerts, all in a beautifully compact, wire-free design.
Mar-2020: Vivint Smart Home launched the Vivint Doorbell Camera Pro, an AI-powered doorbell camera. This camera intelligently detects packages and actively helps protect them from porch pirates and other potential threats. The doorbell camera provides homeowners with peace of mind by helping to prevent crime before it happens.
Jan-2020: ADT released its first do-it-yourself (DIY) home security platform, Blue by ADT. The platform provides an alternative to its professionally installed security systems. Blue by ADT is its newest product line, a series of individual home security components that users can install themselves and configure with options for professional monitoring and storage.
Jan-2020: Arlo launched the Arlo Pro 3 Floodlight Camera, which has a plate of powerful LEDs to better light the area in the camera’s field of view. The Floodlight Camera has various features such as 2K video with HDR, a built-in siren, color night vision, a 160-degree field of view, and two-way audio.
Jul-2019: LifeShield, an ADT Company launched the LifeShield HD Video Doorbell to its lineup of easy-to-install and professionally monitored smart home security products. The new Wi-Fi-connected HD video doorbell complemented the brand’s flexible "Build Your Own Set” package, making it easy to tailor a security system to your smart home needs.
Jun-2019: Samsung Electronics introduced the SmartThings Cam. This camera has been designed for helping the families keep an eye on what matters most at home. SmartThings Cam is a smarter way to monitor home with premium monitoring features at an approachable price.
Scope of the Study
- Doorbell Camera
- Indoor Camera and
- Outdoor Camera
- Wired and
- North America
- ·Rest of North America
- ·Rest of Europe
- Asia Pacific
- ·South Korea
- ·Rest of Asia Pacific
- ·Saudi Arabia
- ·South Africa
- ·Rest of LAMEA
- Godrej Group (Godrej Security Solutions)
- Samsung Electronics Co., Ltd. (Samsung Group)
- Arlo Technologies, Inc.
- Vivint Smart Home, Inc.
- ADT, Inc. (Apollo Global Management, Inc.)
- SimpliSafe, Inc.
- Protect America, Inc.
- FrontPoint Security Solutions, LLC
- Skylinkhome Technologies, Inc.
- iSmart Alarm, Inc.
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