by The Cloud Camera Market is estimated to be valued at US$ 12.88 Bn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cloud cameras are internet protocol (IP) cameras that stream live video to cloud storage via a wireless network connection. They have built-in sensors, microphones and can be accessed remotely using smartphones and other devices. They are gaining popularity as modern homeowners demand convenience and flexibility in monitoring their homes from anywhere. Cloud cameras allow users to check in on homes, pets and property through cloud video storage and video surveillance on demand.
Market Dynamics:
Rising adoption of smart home technologies: Advancements in IoT and wireless networking technologies have enabled the development of smart home devices such as smart lights, security systems, thermostats and appliances that can be controlled remotely through smartphones and apps. As homeowners equip their homes with smart devices for added convenience and security, the demand for cloud cameras as part of smart home security systems is expected to grow significantly.
Growing demand for remote monitoring: Cloud cameras allow users to access live video feed and recorded footage remotely through internet connection. This enables users to monitor homes, property and pets even when away. The ability to monitor homes from anywhere through smartphones is fueling the demand for cloud cameras for remote surveillance and monitoring applications.
Segment Analysis
The cloud camera market is dominated by the home and small business security sub-segment. This sub-segment accounts for over 60% of the total market share due to the increasing demand for automated systems for home security surveillance and monitoring. Consumers are increasingly adopting cloud cameras to enhance security in residential areas without the need for additional security personnel.
PEST Analysis
Political: Data privacy and security laws are being strengthened across major regions to regulate usage of camera footage and ensure user privacy, positively impacting market growth.
Economic: Rising disposable incomes and growing affordability of security solutions are major drivers for rising adoption of cloud cameras among consumers and small businesses.
Social: Increasing frequency of crime and security threats have raised safety concerns, promoting usage of cloud cameras for remote monitoring.
Technological: Advancements such as AI integration, advanced analytics, and improved wireless capabilities are enhancing functionality of cloud cameras and supporting their adoption.
Key Takeaways
The Global Cloud Camera Market Size is expected to reach a value of US$ 28.51 Bn by 2030, expanding at a robust CAGR of 14% during the forecast period. Rising demand for integrated security solutions, increasing penetration of IoT, and growing need for remote monitoring and surveillance are some of the key factors fueling market growth.
Regionally, North America dominated the global cloud camera market in 2023 with a share of over 30%, supported by high adoption of smart home technologies across the US and Canada. Asia Pacific is expected to witness fastest growth during the forecast period owing to high infrastructure development and urbanization activities across major Asian countries including China and India.
Key players operating in the cloud camera market are Arlo Technologies Inc., Ring (owned by Amazon), Nest (owned by Google, a subsidiary of Alphabet Inc.), Wyze Labs Inc., Logitech International S.A., Blink Home Security (owned by Amazon), D-Link Corporation, TP-Link Technologies Co., Ltd., Ezviz (a subsidiary of Hikvision), Reolink Digital Technology Co., Ltd., Zmodo Technology Corporation, Canary Connect Inc., Netgear Inc., Eufy Security (a division of Anker Innovations), Swann Communications Pty Ltd. These players are focusing on new product launches and partnerships to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
