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Security Cameras Market Forecast to 2023 Insights Shared in Detailed Report

Security Cameras Market Highlights
The global security cameras market valuation is predicted by Market Research Future (MRFR) to stand at USD 9.72 million by 2024. The previous valuation of the market stood at USD 4.87 billion in 2017. The market is expected to grow during the forecast period of 2019 to 2024 at an impressive annual rate of 11%.
Some of the key drivers of the security cameras market are the easy installation it brings to the table and the increasing level of awareness concerning the need for security among consumers. The growth of the security camera market is also majorly driven by the increasing adoption of smart homes. However, amidst these positives, the market poses issues concerning privacy and loss of data, maintenance, and the high cost of cameras. These can impact the global market negatively during the mentioned forecast period.
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Market Segmentation
The global security cameras market segmentation is based in terms of application, professional service, type, resolution, and end-user.
By resolution, the market breaks down into full high definition, high definition, and non high definition.
By type, the market narrows down into dome security camera, infrared (IR) bullet camera, box security camera, point tilt & zoom (PTZ) camera, wireless/IP camera, and other cameras.
By application, the market segments into outdoor security cameras and indoor security cameras.
By professional service, the market includes maintenance and support device, consulting services, and installation and deployment service.
By end-user, the market comprises commercial or public space, residential or home, industrial or manufacturing facilities, and others.
Competitive Landscape
The global security cameras market comprises a host of key players that were identified by MRFR in its recently published report. The companies were selected from across the globe in terms of their reach, recent developments, country of origin, diversification of product, and expertise in the industry. Some of the leading names identified are ADT Inc. (US), Motorola Solutions, Inc. (Motorola Home), Panasonic Corporation (Japan), Hangzhou Hikvision Digital Technology Co. Ltd (China), Shenzhen Leshi Video Tech. Co., Ltd (China), SimpliSafe, Inc. (US), Arlo Technologies Inc (US), Vivint, Inc. (US), Swann Communications Pty. Ltd (US), FrontPoint Security Solutions, LLC (US), and others.
Aside from this, a number of other players were identified in the report as well. These players contribute close to 40-45% of the global security cameras market. The names are Nest Labs, Inc (US), Reolink Digital Technology Co., Ltd (China), Wyze Labs, Inc (US), Boyce Mfg. Co. Ltd (India), Ring LLC (US), B & H Foto & Electronics Corp (US), Zmodo Technology Corporation Ltd (China), Comcast Corporation (Xfinity) (US), Immedia Semiconductor, Inc. (US), Sony Corporation (Japan), Samsung Communications (South Korea), Godrej Security Solutions (Godrej) Amcrest (US), Xiaomi Corporation (China), CPI Security Systems, Inc. (US), ), Toshiba America Information Systems, Inc (US), Canary Connect, Inc (US), Logitech International S.A (Switzerland), and others.
Industry Updates
May 2019, Ulo, a security camera created by MU Design, came into the market with a rather whimsical touch. The owl-shaped camera used for surveillance purposes boasts two big interactive LCD eyes and two lenses, comprising a HD camera and a motion sensor camera, under its beak that captures high resolution images.
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Regional Analysis
The global security camera market is regionally distributed across the following regions: North America, Asia Pacific, Europe, and the Rest of the World (RoW).
The global market for security cameras is expected to grow during the forecast period at a consistent pace. This growth can be attributed to North America, which boasts the highest regional market share percentage. In North America, the presence of various key electronic component manufacturers for the production of these cameras is pushing the growth of the region. The components include SDRAM, AC/DC controllers, the processor (SoC), sensors, media ports, and actuators. The US contributes massively to the overall welfare of the region due to the strong distribution network available therein.
The Asia Pacific market is another key region in the global security cameras market landscape. The region is majorly pushed by the presence of China. Aside from China, some of the other leading countries across the globe that are involved with the production of security cameras are India, Japan, the US, South Korea, and Germany.
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