North America Smart Home Security Cameras Market Forecast To Grow USD 7.88 Billion By 2028Posted by rahul nikade on November 10th, 2022 North America Smart Home Security Cameras Industry Overview The North America smart home security cameras market size was valued at USD 2.19 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.4% from 2021 to 2028. The rapid adoption of IoT in smart homes is 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. Furthermore, increasing home remodeling activities, coupled with the growing need for smart home devices, are presenting lucrative growth opportunities for the market. In addition, the rising prominence of technologically advanced smart home security cameras boosts the demand for these products. The increasing prominence of energy conservation measures is also contributing to the greater penetration of innovative and smart home security cameras in the region. Gather more insights about the market drivers, restrains and growth of the North America Smart Home Security Cameras Market Technological advancements have been significantly driving the market. Smart cameras that notify users of any movements when no one is at home are gaining traction. An increasing number of younger consumers are buying homes and this set of homeowners is no longer content with traditional devices. This scenario has driven the penetration of new technologically-advanced smart devices, such as smart plugs, smart locks, smart light bulbs, and smart home security. The rising construction of smart homes - a combination of luxury and convenience - is also boosting the demand for smart home security cameras. Rising consumer awareness regarding personal protection is offering positive growth opportunities to the market. For instance, according to a survey conducted by CheckVideo in December 2019, out of 5000 American consumers assessed, around 63.3% purchased video doorbell cameras to make their homes secure in all ways. Additionally, according to the same survey, features such as motion sensors, door sensors, burglar alarms, spotlight cameras, and glass break sensors are important to consumers. Smart home security camera players offering technologically-advanced features are likely to witness higher demand in the foreseeable future. Ring’s Video Doorbell 3 Plus has a pre-roll function, which captures video to show what happened prior to the motion, and also includes features such as video recording and motion detection. Furthermore, the COVID-19 outbreak has made consumers more conscious of their health and wellness. Consumers have been conscious about the safety measures to be followed and also ensured that any person entering their house follows the same. As a result, during this period, there has been a surge in demand for smart home security cameras, especially smart video doorbells, as, through the doorbell cameras, consumers could ensure that the person entering their home followed safety protocols. Moreover, essential workers such as doctors, nurses, and bank employees had to continue working. This resulted in an increase in the installation of smart home security cameras among households with kids, as almost every school, college, and daycare center was closed. According to UNESCO, the education of nearly 1.6 billion pupils in 190 counties has so far been affected, i.e., 90% of the world’s school-age children. In many countries such as the U.S., there are still no definite plans for reopening schools. This presents the market with new growth opportunities. Browse through Grand View Research's Electronic & Electrical Industry Research Reports
North America Smart Home Security Cameras Market Segmentation Grand View Research has segmented the North America smart home security camera market on the basis of product, application, and country: North America Smart Home Security Camera Product Outlook (Revenue, USD Million, 2016 - 2028)
North America Smart Home Security Camera Application Outlook (Revenue, USD Million, 2016 - 2028)
North America Smart Home Security Camera Country Outlook (Revenue, USD Million, 2016 - 2028)
Market Share Insights
Key Companies profiled: Some prominent players in the North America smart home security cameras market include:
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