Smart Home Security Camera Market | One the Most Booming Industry in Upcoming Years Due to Global Demand in Industry by 2022-2032

The global smart home security camera market garnered US$ 6.25 Billion in 2021 and is expected to accumulate US$ 7.5 Billion in 2022, as per a recently published report by ESOMAR-certified Future Market Insights. The market is expected to surpass a market valuation of US$ 46.5 Billion by registering a staggering double-digit CAGR of 20.02% during the assessment period 2022-2032. The growth of smart home security cameras can be attributed to the increasing concern for indoor environments.

Moreover, the easy availability and installation of smart cameras are playing a key role in the adoption of the same. Pet parents and couples working from offices are investing in smart cameras to keep track on pets and young children. Smart cameras not only display real-time events but also offer communication through audio. This, in turn, is propelling the growth of smart cameras in indoor environments of homes.

On the contrary, outdoor cameras are facing possible threats of being damaged by weather or stolen by thieves. In addition, hackers are misusing smart cameras to hack into houses and are using personal information for incorrect purposes.

Key Takeaways from the Market Study

·      Global smart home security camera market to flourish 6.2x from 2022 to 2032

·      By product type, wired cameras are expected to possess 55% market share for assessment period 2022-2032.

·      By application, indoor cameras expected to register a staggering double-digit CAGR of 10% in the forecast period 2022-2032.

·      U.S. expected to register a CARG of around 12% in the assessment period 2022-2032.

·      China expected to register a CAGR of more than 15% for the smart home security cameras in the sales indicator period 2022-2032.

·      India expected to register a 7% CAGR in the upcoming forecast period 2022-2032. 

“The global smart home security camera market is expected to observe excellent growth due to the increasing importance of indoor safety and easy availability and installation of the same.”

Competitive Landscape

Key players in the smart home security cameras include Frontpoint Security Solutions, Vivint Smart Home, Inc, Simplisafe, Inc., iSmart Alarm, Inc, ADT LLC, Skylinkhome, Protect America, Inc, Live Watch Security LLC, SAMSUNG ELECTRONICS Co., LTD., LLC, Arlo Technologies, Inc.; Nest Labs; Wyze Labs, Inc, Blink, Brinks Home Security; Ring LLC. Some of the recent key development among the players are:

·      In April 2021, Ring, launched Ring Floodlight Cam Wired Pro. The camera includes 3D motion detection and bird’s eye view along with a 1100db siren and colour night vision. The camera can be easily linked to Wi-Fi present in homes.

·      In August 2021, SimpliSafe launched SimpliSafe wireless outdoor security camera. The camera is designed to detect potential crimes before they take place.  The camera does not require wiring and can be easily installed.

More Valuable Insights Available

FMI, in its new offering, presents an unbiased analysis of the global smart home security camera market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights by type (wired, wireless), application (doorbell camera, indoor camera, outdoor camera) & Region (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).

What Are The Challenges Faced By Smart Home Security Camera Market?

The smart home security cameras is grappling with two major issues namely privacy and price of smart cameras. The outdoor smart home security cameras are expensive and the chances of them getting damaged due to thieves or weather are high. This has led to people not investing in outdoor smart home security cameras.

Furthermore, hackers are able to access the cameras and can use the images captured in the same for incorrect purposes. Moreover, the outdoor camera has the capacity to capture the surroundings around the house, thus threatening the safety of spaces. Incorrect use of face recognition technology too can lead to theft and damages to the property. Manufacturers of smart home security cameras are working on the same.

For More Info - https://www.futuremarketinsights.com/reports/smart-home-security-camera-market

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