Asia Pacific Smart Home Security Camera Market to Hit Around USD 22.27 Billion by 2033
The Asia Pacific smart home security camera market size was exhibited at USD 3.15 billion in 2023 and is projected to hit around USD 22.27 billion by 2033, growing at a CAGR of 21.6% during the forecast period 2024 to 2033.
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Asia Pacific Smart Home Security Camera Market Key Takeaways:
The Asia Pacific smart home security camera market accounted for a share of 30.3% of the global smart home security camera market in 2023.
Significant technological breakthroughs have been pushing the demand for smart home security cameras. Smart cameras are becoming more popular; they alert users to any movements while no one is home. Younger consumers are increasingly purchasing homes, and many homeowners are dissatisfied with conventional gadgets. This situation has accelerated the adoption of new, highly developed smart devices, such as smart locks, lightbulbs, plugs, and home security systems. The growing trend of building "smart homes," which combine convenience and luxury, is driving up demand for smart home security cameras.
Countries in Asia Pacific are heavily surveilled, and China is one of the most covered countries. Globally, there are already 770 million cameras in use, with 54% of these being in China. According to a survey by Comparitech, 16 out of the top 20 most surveilled cities (based on the number of cameras per 1,000 people) are in China. Indore, Hyderabad, and Delhi (all in India) were the only cities outside of China to make the top 20, taking the fourth, twelfth, and sixteenth places, respectively. Delhi, Chennai, Singapore, Seoul, and Mumbai, all feature within the top 20. Delhi and Chennai (India) have more cameras per square mile than any Chinese city. These figures prove that Asia Pacific is a highly lucrative market for smart home security cameras.
China is home to some of the world’s largest makers of video surveillance products, such as Hikvision, Huawei, and Dahua. According to an IHS Markit report, China has 350 million cameras installed, for an estimated one camera for every 4.1 people. The U.S., in comparison, has one for every 4.6 people, with a total of 70 million cameras installed. Taiwan was third in terms of penetration, with one camera for every 5.5 citizens in 2018, followed by the U.K. and Ireland (1:6.5) and Singapore (1:7.1) as of 2019.
Asia Pacific Smart Home Security Camera Market By Technology Insights
Wired smart home security cameras market accounted for a revenue share of 56.0% in 2023. Because wired security systems require less maintenance, they are more affordable in the long run. This is why their popularity is growing. Their adoption is mostly being driven by this economic advantage. Because wired systems do not have to worry about problems with WiFi connectivity or battery life, they are more reliable. These cameras record locally and continue to operate even in the event of a WiFi loss, providing continuous surveillance.
Asia Pacific Smart Home Security Camera Market By Application Insights
The indoor smart home security cameras market accounted for a share of 40.1% in 2023. A rise in theft and break-in cases has increased public awareness of the significance of safeguarding one's home from criminal activities. Because of its many features, such as the ability to send quick messages in the event of theft, trigger alarms, and recognize movement and behavior, indoor smart cameras are widely used in a wide range of applications. These cameras are essential for keeping an eye on houses when occupants are away, whether on vacation or during business hours. They give homeowners peace of mind by letting them monitor the safety of their property and receiving notifications about package deliveries or other unforeseen events.
Country Insights
China Smart Home Security Camera Market Trends
China smart home security camera market accounted for a revenue share of 54.4% in 2023. China has built a vast surveillance state that utilizes cameras powered by facial recognition software, including cameras perched on streets, buildings, and lampposts that can recognize and identify individual faces. Chinese tech companies supply artificial intelligence surveillance technology to 63 countries. Of those, 36 have signed onto China’s massive infrastructure project called the Belt and Road Initiative, according to a September report by the Carnegie Endowment for International Peace, a Washington D.C.-based think tank.
Both its production base and the quantity of surveillance cameras in the world are largest in China. Hikvision's ANVPIZ is the greatest home security camera available in China. It is a 5 megapixel PoE Bullet camera with better than 1080p image quality. It has an IP66 rating and can be controlled and accessed remotely from both indoor and outdoor locations. It captures 98 feet of crisp night vision images using infrared technology. The SD card features a built-in microphone for great audio recording and 128GB of storage. In addition, it has ONVIF protocol attached, which allows it to be connected to a third-party network for video access, and H265 compression technology, which may save almost 50% of storage space.
India Smart Home Security Camera Market Trends
India smart home security camera market is expected to grow at a CAGR of 22.1% over the forecast period. According to Forbes data, Delhi has the highest number of surveillance cameras installed, with 1,826.6 cameras per square miles, followed by Chennai and Mumbai. In the aforementioned category, Delhi has been observed to outshine London, Singapore, Moscow, and New York. This presents the home security cameras market in India with strong growth prospects. The most popular doorbell camera installed in India in 2021, according to TechRadar, is Arlo’s Video Doorbell. It is slim and stylish and displays super-detailed footage. The camera’s 180-degree field of view and 1:1 aspect ratio allows to view the full length of the person at the door, including any packages on the ground by their feet. This comes in both wired and wireless versions and can be integrated with Alexa, Google Assistant, and HomeKit.
Asia Pacific Smart Home Security Camera Market By Recent Developments
Some of the prominent players in the Asia Pacific smart home security camera market include:
Reasons to Purchase this Report
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Asia Pacific smart home security camera market
Technology
Application
Country
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