Smart home cameras market to grow at a CAGR of 14.78% from 2021 to 2026, Distribution channel expansion strategy to be a key trend - Technavio
NEW YORK, March 28, 2023 /PRNewswire/ -- The global smart home cameras market size is estimated to grow by USD 4.98 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 14.78% during the forecast period. Moreover, the growth momentum will accelerate. The distribution channel expansion strategy of vendors is a key trend in the market. Home security product manufacturers are adopting an omnichannel strategy. Moreover, vendors are focusing on distributing smart home cameras through physical retailers and third-party online retailers. For instance, companies such as Netgear, Inc., SAMSUNG, Panasonic Corporation, Alphabet In., and Robert Bosch GmbH offer smart home cameras on online shopping portals. Therefore, the global smart home cameras market is expected to grow significantly in terms of total revenue during the forecast period. For more insights about market - Request a sample report
Home cameras market - Segmentation assessment
Segment overview
Technavio has segmented the market based on connectivity (wire-free smart home cameras and wired smart home cameras) and distribution channel (offline and online).
The wire-free smart home cameras segment will account for a significant share of the market growth during the forecast period. Wire-free or battery-operated smart home cameras have batteries with a life of five to seven months. In addition, several vendors offer smart home cameras with rechargeable batteries. Such cameras are portable and easy to use. In addition, vendors are focusing on developing innovative cameras. They are incorporating technologies such as near-field communication (NFC), ZigBee, and Z-wave into their products. Therefore, the advantages of wire-free smart home cameras will boost the growth of the segment during the forecast period.
Geography overview
Based on geography, the global smart home cameras market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global smart home cameras market.
North America will account for 38% of the market's growth during the forecast period. The US is a key contributor to the smart home cameras market growth in North America. However, market growth in this region will be slower than the growth of the market in APAC. Factors such premiumization of products and the rising awareness about smart home cameras will drive the smart home cameras market growth in North America during the forecast period.
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Home cameras market – Market dynamics
Key factor driving market growth
Premiumization of products is driving the smart home cameras market growth.
The prices of smart home cameras with innovative features and functionalities are high than the prices of regular home security cameras.
Vendors are expanding their product portfolio to enable product premiumization in the market.
They are focusing on differentiating themselves from their competitors by incorporating add-on features and innovative designs into their smart home cameras.
The use of advanced technologies can help vendors expand their product lines and develop premium products.
Therefore, the premiumization of products will fuel the market's growth during the forecast period.
Major challenges hindering market growth
The presence of counterfeit and low-quality products is challenging the smart home cameras market growth.
In developing countries such as China, unorganized players offer low-priced counterfeit products.
Therefore, many customers do not prefer to purchase branded smart home cameras in such countries.
Manufacturers of counterfeit players have a significant market share in developing economies.
They incur low investment and operating costs to operate in the market, which enables them to keep the prices of products low.
Therefore, stiff competition from counterfeit players will impede the growth of well-established manufacturers in the market during the forecast period.
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What are the key data covered in this smart home cameras market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the smart home cameras market between 2022 and 2026
Precise estimation of the size of the smart home cameras market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the smart home cameras market across North America, APAC, Europe, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of smart home cameras market vendors
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Smart Home Cameras Market Scope | |
Report Coverage | Details |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 14.78% |
Market growth 2022-2026 | USD 4.98 billion |
Market structure | Fragmented |
YoY growth 2021-2022 (%) | 14.07 |
Regional analysis | North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution | North America at 38% |
Key countries | US, China, Japan, India, and UK |
Competitive landscape | Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled | ADT INC., Alarm.com, Arlo Technologies Inc, Comcast Corp., D Link Corp, Deep Sentinel Corp, Frontpoint Security Solutions LLC, Google LLC, Hangzhou Hikvision Digital Technology Co. Ltd., Immedia Semiconductor LLC, Monitronics International Inc., Resideo Technologies Inc., Ring LLC, Robert Bosch GmbH, Samsung Electronics Co. Ltd., SimpliSafe Inc., Skylink Group, Vivint Smart Home Inc, Wyze Labs Inc, and Zmodo Technology Corp. Ltd. |
Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
4 Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by Connectivity
5.1 Market segments
5.2 Comparison by Connectivity
5.3 Wire-free smart home cameras - Market size and forecast 2021-2026
5.4 Wired smart home cameras - Market size and forecast 2021-2026
5.5 Market opportunity by Connectivity
6 Market Segmentation by Distribution Channel
6.1 Market segments
6.2 Comparison by Distribution Channel
6.3 Offline - Market size and forecast 2021-2026
6.4 Online - Market size and forecast 2021-2026
6.5 Market opportunity by Distribution Channel
7 Customer Landscape
7.1 Customer landscape overview
8 Geographic Landscape
8.1 Geographic segmentation
8.2 Geographic comparison
8.3 North America - Market size and forecast 2021-2026
8.4 APAC - Market size and forecast 2021-2026
8.5 Europe - Market size and forecast 2021-2026
8.6 South America - Market size and forecast 2021-2026
8.7 Middle East and Africa - Market size and forecast 2021-2026
8.8 US - Market size and forecast 2021-2026
8.9 China - Market size and forecast 2021-2026
8.10 Japan - Market size and forecast 2021-2026
8.11 UK - Market size and forecast 2021-2026
8.12 India - Market size and forecast 2021-2026
8.13 Market opportunity by geography
9 Drivers, Challenges, and Trends
9.1 Market drivers
9.2 Market challenges
9.3 Impact of drivers and challenges
9.4 Market trends
10 Vendor Landscape
10.1 Overview
10.2 Vendor landscape
10.3 Landscape disruption
10.4 Industry risks
11 Vendor Analysis
11.1 Vendors covered
11.2 Market positioning of vendors
11.3 ADT INC.
11.4 Arlo Technologies Inc
11.5 Deep Sentinel Corp
11.6 Frontpoint Security Solutions LLC
11.7 Google LLC
11.8 Monitronics International Inc.
11.9 Samsung Electronics Co. Ltd.
11.10 SimpliSafe Inc.
11.11 Skylink Group
11.12 Vivint Smart Home Inc
12 Appendix
12.1 Scope of the report
12.2 Inclusions and exclusions checklist
12.3 Currency conversion rates for US$
12.4 Research methodology
12.5 List of abbreviations
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