Smart Home Security Camera Market Worth $30.10 Billion By 2030

The global smart home security camera market size was valued at USD 6.42 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.7% from 2022 to 2030.

The global Smart Home Security Camera Market is expected to reach USD 30.10 billion by 2030, registering a CAGR of 18.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. Rapid growth in smart home penetration across North America is positively impacting the demand for smart home security cameras.

The rapid adoption of IoT in smart homes is also supporting market growth. Consumers are shifting from traditionally mountable Wi-Fi cameras to the deployment of smart home security cameras to increase the security of their premises. These advanced smart home security cameras offer several benefits, which boost their installation in many households across the region. The ease of installation and easy availability of smart home security cameras drive the product demand.

In September 2021 Blink launched a new USD 50 video doorbell. The Blink Video Doorbell is wired as well as wire-free and works with Amazon's voice assistant Alexa. The new Blink Video Doorbell is a first-of-its-kind device from the security brand. It has 1080p resolution, two-way talk, and, most interestingly, up to two years of battery life.

The wireless product segment is the fastest-growing segment over the forecast period. This is a result of the increase in the availability of wireless products offered by major players in the market. Moreover, wireless smart home security camera offers varied advantages including easier set-up and customizable, among others.

The market is fragmented at the global level with a major share occupied by Vivint Smart Home Inc., ADT LLC, Arlo Technologies, Inc., and others. Key players operating in the market are implementing strategic initiatives such as acquisitions to drive their companies’ growth in the future as well as to solidify their positions in the market. These strategies also help in increasing their geographical reach, cutting down competition, and gaining additional share in the market. For strategic and financial buyers alike, the most attractive M&A targets will have strong leadership including a deep bench of rising, future leaders.

Related Press Release@ Smart Home Security Camera Market Report

Smart Home Security Camera Market Report Highlights

• Smart home security camera is anticipated to grow at the rate of 18.7% from 2022 to 2030, with the higher demand for smart home products with the increasing growth of smart homes globally.
• Wireless segment is anticipated to grow at the fastest rate over the forecast period, owing to greater storage space for surveillance videos because of cloud storage spaces incorporated in the devices.
• The North America market is anticipated to grow with the fastest CAGR during the forecast period. The rising construction of smart homes a combination of luxury and convenience is boosting the demand for smart home security cameras.

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