Global Smart Home AI Camera Market Statistics

The adoption of smart home devices has increased in recent years. An important factor driving the overall market growth is the large-scale adoption of smart home cameras, which are enhancing better security and surveillance systems.

North America is known to be one of the primary users of these cameras. The market for smart cameras is growing rapidly due to advanced technological innovations; hence, the demand for smart home cameras is increasing with time. Read the statistical analysis discussed in the article carefully to understand the AI camera market more clearly.

current AI camera market

• According to Future Market Insights, the smart home AI camera market is expected to be valued at $8.6 billion by the end of 2024 and reach $29.76 billion by 2034.
  Smart home security cameras will grow at a CAGR of 13.2% between 2024 and 2034.
• The smart indoor camera type accounted for 39.3% of the market share.
• Due to high crime rates in some urban regions, most smart home security cameras have been implemented in the U.S. at a CAGR of 10.6% from 2024 to 2034.
• The global smart AI camera market size will reach approximately $10.7 billion by 2025, growing at a CAGR of 19.6% from 2019 to 2025.
• An additional 81.84 million households are expected to have smart home security cameras installed globally, accounting for 82.79% of the total.
• Smart Home Cameras further states that by 2023, about 51% of Americans will already be using smart cameras in their homes.
• The global surveillance technology market size has reached USD 148.29 billion by 2023.
• The IP surveillance AI camera market dominates the market with a market share of over 40%.

What is a smart home camera?

These cameras are IP-based video surveillance solutions that enable real-time video streaming and recording capabilities when the device is connected via a smartphone app or other device. These cameras also offer remote viewing of facilities and intelligent features such as smart home ecosystem integration, motion sound detection, two-way audio communication and time-lapse recording options.

Facts about smart home cameras

• The main features of the smart camera are artificial intelligence facial recognition, motion detection, wireless connectivity, cloud storage, object detection, two-way audio and night vision.
• The demand for smart home cameras is increasing due to continuous innovations in camera technology with wider viewing angles, better low-light performance, and higher resolution.
• The expansion of IoT devices helps maintain perfect integration with smart home cameras, thereby facilitating effective remote monitoring and control systems.
• In June 2023, Xiaomi launched the Xiaomi Outdoor Camera AW300, a smart camera with night vision and intercom capabilities.
• Meanwhile, smart home security brand EufySecurity is launching a range of dual-camera devices in September 2023 and the world’s first locally AI-powered home surveillance network.
• The smart home AI camera market is categorized into two essential types: indoor and outdoor.
• In the U.S., 96% of people feel safe after having a smart home security camera installed in their neighbourhood.
• Smart cameras, also known as IP cameras and connected cameras, can be connected to different apps, smartphones, computers or laptops.

Smart Home Camera Overall Statistics

• Smart security devices positively impact the lives of 60 percent of U.S. households, and 63 percent of homeowners are inclined to invest in smart security systems, such as burglar alarms, home monitoring and camera surveillance systems, environmental sensors, and sensors for floods, leaks, and smoke.
• The video surveillance AI camera market is expected to reach approximately $54 billion by the end of 2026.
• By 2027, the market size for video surveillance cameras will grow by $62 billion.
• Dome Camera is the most popular CCTV Camera with 33.8% share in 2023.
• According to smart home statistics, in 2023, about 51 million homes in the U.S. will have video surveillance systems.

Smart Home Camera Statistics by Region

• The market size of smart home security cameras in North America was $3.48 billion in 2023.
• Due to high crime rates in certain urban areas, most smart home security cameras have been implemented in the U.S. at a CAGR of 10.6% from 2024 to 2034.
• The smart camera statistics also include the CAGRs predicted for other countries. They are closely followed by Germany (11.7%), Japan (15.7%), China (13%), and Australia and New Zealand (14.7%).

Smart Home Camera Category Statistics

• Smart Home Camera statistics show that the smart indoor camera type will have a market share of 39.3% by 2024.
• Wired smart cameras dominated the market with a 70% connection share.
• By the end of 2024, brick-and-mortar stores will hold around 71% of the market share by sales channel.

Smart Home AI Camera Market Statistics Analyzed by Household

(Source: statista.com)

• According to smart home AI camera market statistics, about 98.86 million homes worldwide had smart security cameras installed in 2023.
• By the next four years, the number of smart security cameras in several homes will reach 122.13 million in 2024, 146.88 million in 2025, and 163.73 million in 2026.
• By the end of 2027, the number of homes implementing smart security cameras is expected to reach 180.7 million.

Smart Home Camera Statistics by Population

• In 2023, about 51% of Americans will use smart cameras in their homes.
• Smart Home Cameras further states that approximately 72% of millennial homeowners (ages 27 to 42) use smart home cameras.
• However, 69% of Gen Z and 47% of Gen X users are between 18 and 26 and 43 and 58, respectively.
• On the other hand, 30 percent of Baby Boomer homeowners are between the ages of 59 and 77.

Surveillance Technology AI Camera Market Statistics

(Source: statista.com)

• A report published by Statista states that the global AI camera market size for surveillance technology has generated $148.29 billion in revenue.
• By the end of 2027, the AI camera market size is expected to reach USD 235 billion.

See smart home AI camera market stats by viewing recordings

(Source: statista.com)

• According to a survey conducted by Leading Tree Survey in February 2023, 50% of Americans without children view surveillance footage from smart home cameras every day.
• At the same time, 47% of parents of adult children and 46% of children under 18 view the daily video.
• On the other hand, only 24% check the video captured by the camera every week.
• The only others are when notified by the system (20%), monthly (5%), and when they hear of potential criminal activity in the neighbourhood or surrounding area (4%).

Reasons to Install Smart Home Cameras

• 50% of homeowners and renters install smart home security cameras for general security.
• 14% of users claim this surveillance technology was installed before moving into their new home.
• 11% of households installed the device after suspicious activity in their neighbourhood.
• In addition, other reasons for household staging include monitoring family members (6%), package theft (6%), after a burglary or attempted burglary (4%), monitoring pets (2%), and others (7%).

Reasons for not installing smart home devices

(Source: statista.com)

• According to Smart Home Stats, the main reason why smart camera surveillance technology was not installed in U.S. homes in the first quarter of 2023 was because of the high cost of installation.
• Nearly 44 percent of Gen Z respondents do not use smart home cameras, followed by Gen Z (36 percent) and Baby Boomers (32 percent).
• In the U.S., 21% claim their landlord does not allow them to install smart home cameras and another 21% claim they have other means of personal protection.
• Other reasons include 9% don’t have confidence in smart technology; 7% believe smart home cameras invade personal privacy; 6% don’t understand how they work; 4% have used but deleted them, and others (15%).

Smart Home Security Product Statistics

(Source: statista.com)

• The most used smart home security device in the home is the smart security camera, with global penetration approaching 4.3% by 2023
• Meanwhile, smart locks and motion detectors had 3.2% and 1.0% household penetration rates, respectively.
• The penetration of smart security cameras is expected to reach 7.1% by 2026, followed by smart locks (5.4%) and motion detectors (1.7%).

Smart Security Camera Penetration Statistics

(Source: statista.com)

• Smart home AI camera market statistics further point to a 4.3% penetration of smart security cameras by 2023.
• In addition, the penetration rate is expected to increase in the coming years, e.g., 2024 (5.2%), 2025 (6.2%), and 2026 (7.1%).

Smart Home Device Statistics

(Source: statista.com)

• In 2023, the adoption of smart devices will remain the highest in the United States.
• Nearly 20 percent of Americans use smart security cameras in their homes.
• The share of Americans using other smart home devices are smart TVs (64 percent), smart speakers (27 percent), streaming devices (24 percent), Bluetooth speakers without voice assistants (20 percent), smart light bulbs (19 percent), smart plugs (15 percent), large smart appliances (15 percent), connected thermostats (14 percent) and smart locks (13 percent).

summarize

Smart home AI camera market is undergoing a huge transformation and are approaching home security systems. These smart cameras contain many innovative features; hence, the demand for cameras is growing, and they will gain more market share in the coming years.