According to a new report Global Smart Home Security Cameras Market, published by KBV research, 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.
In terms of revenue, wired devices dominated the market for smart home security camera systems. This is attributed to longer durability and increased reliability, making the device a main category in the home security segment. Wired smart home security cameras are commonly used in various households owing to their low installation and maintenance costs compared to wireless versions. The Wireless segment is predicted to grow exponentially over the forecast period. Wireless smart home security cameras can be operated remotely using a controller. Most of these cameras are connected via Wi-Fi or Bluetooth.
In terms of revenue, the indoor camera application segment dominated the market. This is attributable to the rise in the number of burglary cases, which attract the attention of residential households to indoor protection. The doorbell camera application segment is expected to grow at the highest growth rate over the years to come. It is due by design to increased visibility in high-rise buildings equipped with a doorbell security camera. Demand for such devices is usually witnessed by new large, multi-occupancy buildings.
North America dominated the regional segment of the market. This is directly linked to an increasing number of single-person or two-person households in American countries, such as the United States, Canada, and Mexico, urging consumers to invest in household safety devices in the absence of residents. Asia Pacific is projected to grow at the highest CAGR. China is a major player in the global market due to the rising growth of infrastructure as well as rising construction activities to meet the growing population. The Europe market is expected to witness a CAGR of 16.1% during (2020 - 2026).
Structural Insights: https://www.kbvresearch.com/smart-home-security-cameras-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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