Overview:
Rising disposable income and growing demand for safety are expected to make sure that the global market for home security camera gets ample backing. Residential projects across the world are also making it a selling point, which would bolster the growth of the Home Security Camera Market. In addition, as per the report discussed by Market Research Future (MRFR) analysts, the market would gain more from the inclusion of advanced technologies, hike in research funding, growing awareness of such technologies, and others. However, the initial cost may seem a bit high, which can deter buyers from installing such a product.
Segmentation:
The global home security camera market segmentation includes the product, type, resolution, and services.
By product, the home security camera market has been segmented into a bullet security camera, IP security camera, PTZ security camera, dome security camera, thermal security camera, and others. The dome security sector dominated the sector in 2017.
By type, the home security camera market includes a study of an indoor security camera and an outdoor security camera. The outdoor security camera segment has the maximum market coverage.
By resolution, the market includes a study of non-HD and HD. The HD segment had the upper hand in 2017.
By services, the market includes a study of professional services and managed services. The professional services used to dominate the market in 2017.
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Regional Analysis:
People in North America and Europe are in a better state as they are financially more capable and technologically aware of the benefits of such products, which would bolster these regional home security camera market growth.
Competitive Landscape:
The global home security camera market has companies like Motorola Home (U.S.), Netgear, Inc. (U.S.), ADT Security Services (U.S.), Shenzhen Leshi Video Tech. Co., Ltd (China), Vivint, Inc. (U.S.), Hikvision Digital Technology Co. Ltd (China), SimpliSafe (U.S.), FrontPoint Security Solutions, LLC (U.S.), Godrej Security Solutions (India), Panasonic Corporation (Japan), and Nest Cam (U.S.),
Industry News:
In September 2020, Arlo Technologies, Inc. is known for its internet-connected camera brands. The company declared that it has added two wire-free security cameras to its Arlo Essential Series. These are Arlo Essential XL Spotlight and Arlo Essential. The Essential Series has been designed to provide safety of top quality both outside and inside the home. This series has the Essential XL Spotlight Camera with an integrated, extended-life battery that can provide service for a year after just one charge and an integrated spotlight that comes with a color night vision. Both these cameras have two-way audio, 1080p HD video, motion detection alerts, and a built-in siren. All these come in a compact, easy-to-install, and wire-free design.
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In September 2020, YI Technology (YI), a company known for its advanced, intelligent imaging technologies and products across the world, revealed that it has launched the new Kami Mini Indoor Camera. The new camera is tiny in size and perfect for indoor security with a big brain. The other one that the company has introduced is a YI Dome Camera U, that covers all the features of a home security camera and displays some extra privacy features. Both these are supported by YI Technology's proprietary, EDGE-based artificial intelligence (AI) technology. The system is also cost-affordable owing to which the company is expecting an easy percolation.
The COVID-19 crisis inspired several changes in the market and it has disrupted the production and supply chain in notable ways due to which the market may get affected.
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