The global Connected Home Surveillance Devices Market size is projected to reach USD 18.0 billion in 2023. The market is likely to surpass USD 75.3 billion by 2033. Over the next ten years (2023 to 2033), global connected home surveillance device sales are projected to soar at 15.4% CAGR.
Connected home surveillance devices are used for monitoring homes and preventing unauthorized entry of people inside homes. These devices include cameras, video doorbells, smart locks, sensors, etc.
Adoption of connected home surveillance devices allows people to remotely monitor their homes by using smartphones and other devices. Manufacturers can focus on making these solutions more user-friendly. This will help consumers improve home security and safety as well as reduce the risk of burglary.
Connected home surveillance devices enable users to keep a close eye on their houses or apartments via connected devices (smartphones). Suppliers are introducing novel features like home security cameras that use internet to send livestream footage of homes. Similarly, sensors send notifications when they detect movement of people.
Rise in burglary and other household thefts is expected to act as a catalyst triggering growth in the global connected home surveillance industry.
The increasing adoption of smart home technology and rising concerns around home security are key factors driving the market. A wide range of devices such as cameras, motion sensors, doorbells, and other sensors are seeing increased demand due to growing focus on improving home security.
Growing popularity of access control and surveillance in smart homes is likely to create lucrative opportunities for connected home surveillance device manufacturers. Consequently, high adoption of wireless technologies and surging popularity of IoT-based security systems will foster market development.
There are also challenges faced by the connected home surveillance devices industry. Concerns around privacy and data security remain a significant issue, and manufacturers must work to address these concerns by developing more secure devices.
Key connected home surveillance device companies are focusing on expanding their portfolios by launched new solutions. For instance, in May 2023 Roku, Inc. expanded its Smart Home lineup by adding new home monitoring devices.
Key Trends Propelling the Demand for Connected Home Surveillance Devices:
Challenges for Companies/Manufacturers in the Connected Home Surveillance Devices Market:
Opportunities in the Connected Home Surveillance Devices Industry:
Latest Trends in the Connected Home Surveillance Devices Market:
| Attributes | Key Insights |
|---|---|
| Estimated Connected Home Surveillance Devices Market Size (2023) | USD 18.0 billion |
| Projected Connected Home Surveillance Devices Market Value (2033) | USD 75.3 billion |
| Value-based CAGR (2023 to 2033) | 15.4% |
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As per Future Market Insights (FMI), from 2018 to 2022, global sales of connected home surveillance devices grew at a CAGR of 10.2%. Total market size in 2023 is likely to reach USD 18.0 billion.
Connected home surveillance devices industry has been experiencing steady growth in recent years. This is due to increasing demand for smart home devices, the integration of advanced technologies in security systems, and rising concerns about home security and safety.
Looking ahead, the target market is forecast to expand at a CAGR of 15.4% during the forecast period, crossing a valuation of USD 75.3 billion by 2033.
The adoption of smart home devices and the growing trend towards home automation are expected to boost the connected home surveillance devices industry.
Integration of advanced technologies such as AI, machine learning, and IoT in security systems is allowing companies to develop more sophisticated & efficient monitoring and control devices. This will positively impact connected home surveillance device sales.
Rising popularity of connected home surveillance devices in emerging economies and the development of more advanced and efficient security systems are expected to further boost the market.
High Burglary Rates Fueling Connected Home Surveillance Devices Demand in the United States
| Country | United States |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | ~USD 9.8 billion |
| CAGR from 2023 to the End of Forecast (2033) | ~10.9% |
The United States connected home surveillance devices industry is forecast to reach a valuation of USD 9.8 billion by 2033. Overall demand for connected home surveillance devices in the country is likely to surge at 10.9% CAGR.
The United States market is expected to continue its growth trajectory as consumers prioritize home security and embrace smart home technologies.
One of the main factors spurring growth in the United States market is the increasing concerns about home security due to alarming burglary statistics.
According to a report by the National Council for Home Safety and Security, a burglary occurs every 18 seconds in the United States. This has led homeowners to invest in home security systems, including connected home surveillance devices, to protect their homes and families. Driven by this, sales of connected home surveillance devices in the country will surge at a robust pace.
Adoption of Smart Technologies Driving Home Surveillance Devices Sales in the United Kingdom
| Country | The United Kingdom |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | ~USD 2.16 billion |
| CAGR from 2023 to the End of Forecast (2033) | ~16.5% |
The United Kingdom connected home surveillance devices industry is expected to reach USD 2.16 billion by 2033. It is poised to exhibit a CAGR of 16.5% during the forecast period. This is due to rising adoption of advanced home security technologies triggered by rising security concerns.
Growth in the market will also be driven by increasing crime rates, heightened awareness of home security, and advancements in technology.
Availability of advanced technologies that can be conveniently controlled and monitored through smartphone applications will further boost the market. These include smart cameras, video doorbells, and other security systems.
Focus on Developing Eco-friendly Home Security and Monitoring Tools Driving China Market
| Country | China |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | ~USD 5.91 billion |
| CAGR from 2023 to the End of Forecast (2033) | ~16.8% |
As per Future Market Insights (FMI), China market is anticipated to reach a valuation of USD 5.91 billion by 2033. Over the next decade (2023 to 2033), connected home surveillance device sales in the country are set to surge at 16.8% CAGR.
Rising need for improving home security and focus on developing energy-efficient and eco-friendly systems are expected to boost China market.
China has been making significant efforts to promote eco-friendly systems in home security and monitoring. This is in line with the country's broader goals of reducing carbon emissions and promoting sustainable development.
Various home security and monitoring companies in China are focusing on energy-efficient designs and materials. For example, some companies are using low-power consumption components and designing products to be more energy-efficient, which can help to reduce energy consumption and carbon emissions.
Companies are developing security systems such as security cameras powered by solar panels. Introduction of these novel solutions will support market expansion in China.
Favorable Government Initiatives Regarding Home Security & Monitoring to Fuel Growth in Japan Market
| Country | Japan |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | ~USD 2.98 billion |
| CAGR from 2023 to the End of Forecast (2033) | ~11.2% |
The market for connected home surveillance devices in Japan is estimated to reach a valuation of USD 2.98 billion by 2033, thriving at a CAGR of 11.2%. Growth in the market is driven by rising government initiatives regarding home security and monitoring.
In Japan, the government has implemented a range of policies to promote the adoption of energy-efficient and safe homes. This includes the "Cool Biz" initiative, which encourages the use of energy-efficient appliances. These initiatives will elevate demand for connected home surveillance devices with energy-efficient features.
Rising Adoption of Home Automation Technologies to Bolster Connected Home Surveillance Device Sales in Korea
| Country | South Korea |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | ~USD 2.25 billion |
| CAGR from 2023 to the End of Forecast (2033) | ~9% |
The connected home surveillance devices industry in South Korea is expected to cross a valuation of USD 2.25 billion by 2033. From 2023 to 2033, sales of connected home surveillance devices in Korea are projected to soar at 9% CAGR.
Increasing adoption of home automation technologies is a key factor that will boost sales in Korea market during the assessment period.
South Korea has been rapidly adopting home automation technologies, with a focus on convenience, energy efficiency, and safety. This is due to increasing popularity of smart homes and rising government initiatives.
The South Korean government has launched several initiatives to encourage the adoption of smart home technologies, including tax incentives for homeowners who install energy-efficient devices and appliances. This in turn is creating a favorable environment for market expansion.
Principal Consultant
Demand to Remain High for Connected Home Surveillance Cameras Through 2033
Based on devices, cameras segment is expected to dominate the global connected home surveillance devices industry. As per Future Market Insights (FMI), demand for connected home surveillance cameras is likely to increase at 8.5% CAGR through 2033.
Cameras play a significant role and hold a prominent share of the connected home surveillance device industry. They are an essential component of home surveillance systems, providing visual monitoring and recording capabilities.
Cameras allow homeowners to monitor homes remotely through live video feeds or recorded footage. They provide a sense of security and the ability to keep an eye on property both inside and outside.
The presence of cameras can act as a deterrent to potential intruders or criminals and provide valuable evidence in the event of a break-in or suspicious activity. With advancements in camera technology, including HD and 4K cameras, as well as the integration of AI and machine learning, detection capabilities have improved.
Growing adoption of home surveillance cameras to improve home security will continue to boost the target segment during the assessment period.
Independent Homes to Create Lucrative Opportunities for Manufacturers
Over the forecast period, the independent homes sub-segment is predicted to hold a significant market share. It will create profitable opportunities for connected home surveillance devices.
According to a research report released by Harvard University's Joint Center for Housing Studies, existing home sales surged by 5.6% in 2020, while new single-family home sales increased by 20.4%, resulting in record-breaking total home sales.
This growth, coupled with the increasing adoption of security systems in primary residences, including new and restored homes as well as vacation homes in developed and developing regions, will boost growth of the target segment.
The connected home surveillance devices industry is highly competitive, with several players focusing on increasing their market share.
In such a scenario, key connected home surveillance device manufacturers must stay competitive by implementing various strategies, including product innovation, branding and marketing, strategic partnerships and collaborations, pricing and promotion, and excellent customer service and support.
Key Strategies Adopted by the Players:
Product Innovation
Connected home surveillance device companies that invest in research and development to improve the features and functionalities of their products can stay ahead of the competition. For instance, various companies are incorporating artificial intelligence and machine learning into their devices to improve accuracy and effectiveness.
Strategic Partnerships and Collaborations
Collaborating with other companies in the industry or forming partnerships with distributors and retailers can help companies to expand their reach and increase sales.
Pricing and Promotion
Offering competitive prices or discounts can attract price-sensitive customers and increase sales. Promotional activities such as advertising, sales promotions, and product bundling can also increase sales and build brand awareness.
Branding and Marketing
Developing a strong brand and marketing will effectively help companies to differentiate from their competitors. Effective marketing can also increase awareness and demand for a company's products.
Key Players in the Connected Home Surveillance Devices Industry:
Key Developments in the Connected Home Surveillance Devices Industry:
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| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 18.0 billion |
| Projected Market Size (2033) | USD 75.3 billion |
| Anticipated Growth Rate (2023 to 2033) | 15.4% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; and Middle East and Africa |
| Key Countries Covered | United States, Canada, Brazil, Germany, United Kingdom, China, Japan, India, Australia, GCC Countries, and the Rest of the World |
| Key Segments Covered | Devices, Home Type, Installation, Distribution Channel, and Region |
| Key Companies Profiled | ASSA ABLOY; Johnson Controls, Inc. (Tyco Security Products); Honeywell International Inc.; ADT Inc.; SimpleSafe Inc.; Arlo Technologies Inc.; Vivint; Swann Communications; Bosch Security Systems; Netatmo; Nest Labs; Samsung Electronics; Others (As per request) |
The market expanded at a CAGR of 10.2% from 2018 to 2022.
Focus on developing eco-friendly home security and monitoring tools drives the market.
Rising cross-border trade is likely to boost demand for India’s steel drums & IBCs.
The United States dominates the industry with its lucrative opportunities.
The market is likely to surpass USD 75.3 billion in 2033.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Market Background 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Device 7.1. Cameras 7.2. Video Doorbells 7.3. Door and Window Sensors 7.4. Smart Locks 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Home Type 8.1. Independent Homes 8.2. Condominium/Apartment 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Installation 9.1. Professionally Installed 9.2. Do-It-Yourself (DIY) 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Distribution Channel 10.1. Online Platform 10.2. Offline Stores 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Country 11.1. United States 11.2. Canada 11.3. Brazil 11.4. Germany 11.5. United Kingdom 11.6. China 11.7. Japan 11.8. India 11.9. Australia 11.10. GCC 11.11. Rest of the World 12. United States Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Canada Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Brazil Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Germany Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. United Kingdom Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. China Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Japan Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. India Market Analysis 2018 to 2022 and Forecast 2023 to 2033 20. Australia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 21. Rest of the World Market Analysis 2018 to 2022 and Forecast 2023 to 2033 22. Market Structure Analysis 23. Competition Analysis 23.1. ASSA ABLOY 23.2. Johnson Controls, Inc. (Tyco Security Products) 23.3. Honeywell International Inc. 23.4. ADT Inc. 23.5. SimpleSafe Inc. 23.6. Arlo Technologies Inc. 23.7. Vivint 23.8. Swann Communications 23.9. Bosch Security Devices 23.10. Netatmo 23.11. Nest Labs 23.12. Samsung Electronics 23.13. Other Key Players (As per Request) 24. Assumptions and Acronyms Used 25. Research Methodology
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Connected Home Surveillance Devices Market
