Indian smart home security camera market grows 116% By CIOTechOutlook Team

Indian smart home security camera market grows 116%

CIOTechOutlook Team | Monday, 08 August 2022, 03:39 IST

  •  No Image

According to a recent survey, India's market for smart home security cameras increased by 116% (year over year) as a result of consumers' increased concern for personal safety on their property.

In Q2 2022 (April to June), the number of smart home security cameras increased by 7% quarter over quarter, according to the most recent Counterpoint Research study.

Increased customer interest, heightened security concerns, a move away from conventional security cameras, and brand marketing efforts through discounts and promotions all contributed to the growth.

"The growing consumer interest in smart home security cameras is a result of various factors, including ease of use, availability of smart features, and affordability," said research analyst Varun Gupta.

The pricing of these devices has been a key to the success of the smart camera market as most brands are offering devices below Rs 2,500, which is less than the conventional camera systems, he added.

The top three brands captured 74 per cent share in Q2.

There was a push towards offline retail channels by leading brands such as Xiaomi, EZVIZ, Imou, Qubo and CpPlus.

Xiaomi's shipments doubled in Q2 due to an increase in demand for home security cameras and better brand outreach through promotional events.

realme registered a 74 per cent growth due to good performance by its Home Cam 360o. The brand is expanding its offline presence and is expected to refresh its portfolio soon amid strong demand.

The smart home security camera market is expected to grow over 50 per cent this year, due to the continuous efforts by brands to make these devices available offline, special discount schemes and launch of value-for-money devices.

"In addition to this, we also expect the entry of new brands to build their position in this untapped market," said senior research Analyst Anshika Jain.

In terms of applications, the indoor security camera market will witness a jump due to demand coming from working professionals resuming work at offices after the work-from-home routine during the pandemic, she added.

The major hurdle to mass adoption of these cameras is the lack of consumer awareness.

"Brands need to focus on setting up experience zones and providing some sort of bundled offers with other smart home products to market these products in a better way," Jain noted.

CIO Viewpoint

Cloud Is for Everyone

By Sandeep Jamdagni, Head IT, Ashiana Housing Ltd

How Google Map Api and Android Based Mobile...

By Aryan Panchal, Group Head IT, Ashok Piramal Group

CXO Insights

Minimizing the Effects of Bad Data in Big Data...

By Govind Seshadari, Vice President - Technology, Epsilon

Internet of Things--Managing Projects

By Vikrant Sankhe, General Manager Key Account Management, Siemens

Grey Chatter: Leading Into a World of...

By Randhir Dhawan, Technology Solution Professional, Microsoft India

Facebook