Wireless Home Security Camera Market Size

Wireless Home Security Camera Market Size

Wireless Home Security Camera Market size surpassed USD 5 billion in 2021 and is projected to expand at around 20% CAGR from 2022 to 2030. Global industry shipments are anticipated to exceed 220 million units by 2030.

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Rising urbanization across the globe will fuel the market demand. Several individuals are migrating to metropolitan cities for better education, healthcare facilities, lifestyles, job opportunities, and connectivity. This factor has increased the population living in urban areas. For instance, as of May 2022, the U.S. urban population is around 83.1% and Brazil’s is approximately 87.6% of the total residents living in the country. The surge in urbanization will drive the construction of new multi-story residential complexes and row houses.

The COVID-19 pandemic negatively impacted the wireless home security camera industry growth in 2020. The implementation of stringent lockdowns by government authorities to reduce the spread of the virus led to the temporary closure of manufacturing facilities, thus affecting the market statistics. However, the market witnessed a steady recovery in 2021, which is credited to the growing demand for the wireless home security cameras coupled with the active product promotions by the original equipment manufacturers (OEMs) on both print and digital media. Players have shifted their marketing campaigns on social media platforms to increase their market reach and brand recognition.