Smart Home Security Camera Market Analysis, Size, Growth, Share & Forecast to 2027 | Grand View Research Inc.
The global smart home security cameras market size is anticipated to reach USD 11.89 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 15.7% over the forecast period. Rising prominence of security devices in smart homes for complete control and access of households through remote is generating higher demand for these security cameras. In addition, rising penetration of smart households across regions is paving way for these devices. Rapid growth in the smart home penetration across developed nations of America and Europe is positively impacting the demand for the devices. According to the European Commission in 2017, Europe Smart Home revenue is expected to reach USD 19 billion by 2021, through its massive markets in U.K. and Germany. Additionally, rising insecurity among homeowners is making them indulge in home security systems. According to a study by Fixr, in 2019, smart security systems are the smart home devices, of which 68% of people are familiar with and 53% are most likely to own in U.S. Increasing cases of burglary are also resulting in increased prominence of these technically driven home cameras for greater control of households. Rising number of crimes, including theft and burglary, has increased the prominence of security devices for smart households. According to the 2017 crime statistics released by the