Drivers and Restraints

The global security cameras market, according to the report by Market Research Future (MRFR), was valued to reach a substantial market valuation of USD 9.72 million by the end of the review period (2019–2024) at a moderate CAGR of 11%.

Major driving factors for the security camera market are the ease of installation of security cameras and growing awareness concerning the security needs. Security cameras are used to regulate and monitor activities happening in and around a building premise. The market growth is primarily driven by the rising adoption of smart homes, growing awareness concerning security and safety, and ease of installation. On the other hand, issues regarding privacy and loss of data and the increasing cost of cameras and its maintenance pose a challenge to the growth of the security camera market. An increase in the adoption of applications of the Internet of Things is boosting the growth of the security camera market.

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Competitive Analysis

Some of the major market players identified by MRFR in the global security cameras market are Motorola Solutions, Inc. (Motorola Home), Hangzhou Hikvision Digital Technology Co. Ltd (China), Swann Communications Pty. Ltd (US), Arlo Technologies Inc (US), Shenzhen Leshi Video Tech. Co., Ltd (China), ADT Inc. (US), Vivint, Inc. (US), FrontPoint Security Solutions, LLC (US), SimpliSafe, Inc. (US), and Panasonic Corporation (Japan). These players contribute significantly to market growth.

Apart from the top key players, the companies operating in the market are Reolink Digital Technology Co., Ltd (China), Ring LLC (US), Godrej Security Solutions (Godrej & Boyce Mfg. Co. Ltd) (India), B & H Foto & Electronics Corp (US), Nest Labs, Inc (US), Immedia Semiconductor, Inc. (US), Amcrest (US), Wyze Labs, Inc (US), Comcast Corporation (Xfinity) (USXiaomi Corporation (China), ), CPI Security Systems, Inc. (US), Canary Connect, Inc (US), Zmodo Technology Corporation Ltd (China), Samsung Communications (South Korea), Logitech International S.A (Switzerland), Sony Corporation (Japan), and Toshiba America Information Systems, Inc (US).

Segmental Analysis

The global market for security cameras has been segmented based on application, type, resolution, end-user, professional service, and region.

By type, the security cameras market has been segmented into wireless/IP camera, infrared (IR) bullet camera, dome security camera, box security camera, point tilt & zoom (PTZ) camera, and other cameras.

Based on the application, the security cameras market has been bifurcated to indoor security cameras and outdoor security cameras.

By resolution, the security cameras market has been bifurcated into the high definition (HD) & full HD and non-HD.

Based on the professional service, the security cameras market has been segmented into maintenance, consulting service, installation and deployment service, and support service.

By the end-user, the security cameras market has been segmented into residential/home, commercial/public space, industrial/manufacturing facilities, and others.

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Regional Analysis

The analysis of the security cameras market has been studied for Europe, North America, Asia-Pacific, and the rest of the world (including Africa, the Middle East, and South America).

The market is led by North America with the highest market share, followed by Europe, and Asia-Pacific. North America dominates the security camera market; this growth can be attributed to the presence of crucial electronic component manufacturers for the production of security surveillance cameras. Another major factor for the growth of the security camera market in the US is the strong distribution network. In security cameras distribution and sale, the channel consists of intermediaries, direct selling, and others. In the Asia Pacific, there has been substantial growth in commercial and residential security in countries such as India and China. At present, China has the highest number of surveillance cameras in the world which makes the region profitable for numerous firms to provide security cameras.

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