by Cloud cameras provide convenience and increased safety for homes and businesses. Cameras can be accessed remotely from anywhere through internet connectivity to monitor premises and stream live video. Features like motion detection, activity zones, and two way audio allow people to stay informed about their property even when not physically present. The rise of AI assistants has enabled cloud cameras with facial recognition and person detection to identify visitors which enhances security. For busy homeowners and small businesses, cloud cameras provide an affordable solution to monitor their property without employing additional staff or installing complex wired systems. Cloud recording allows users to search through stored video history and review past events from any device. Centralized cloud storage means footage is securely backed up online and accessible from multiple authorized accounts.
The global 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 key trends:
Integration of AI and smarter features such as facial recognition, motion detection zones, activity heatmaps and object detection are driving demand for cloud cameras. Advanced computer vision allows users to receive alerts for specific objects, people or zones entering the field of view. This targeted monitoring improves security effectiveness compared to passive recording. The use of AI also enhances convenience through features like person identification which can distinguish family members from strangers to prevent false alarms. Wireless integration of multiple smart home systems through cloud connectivity is another trend gaining popularity. Cloud cameras can now interact with smart locks, thermostats, lights and alarms to trigger automated responses based on camera detections. For example, unlocking doors when familiar faces are identified or turning on lights when motion is detected at night. Combined with centralized cloud storage and mobile access, AI-enabled smart cloud cameras are emerging as the preferred intelligent surveillance solution.
Porter’s Analysis
Threat of new entrants: The threat is moderate as the cloud camera market is growing rapidly with technological advancements but established brands create entry barriers with large R&D investments and brand loyalty.
Bargaining power of buyers: The bargaining power is high as buyers have numerous options to choose from various global and local brands providing cloud camera solutions at competitive prices.
Bargaining power of suppliers: The bargaining power is low as there are numerous component manufacturers and memory suppliers for cloud cameras across the world with low switchg costs.
Threat of new substitutes: The threat is moderate as IoT devices and smart home solutions can be considered as substitutes but cloud cameras have an established user base with security features attracting more consumers.
Competitive rivalry: The competition is high among major global players as well as local startups focusing on innovations, product upgrades, and competitive pricing to gain market share.
Key Takeaways
The global Cloud Camera Market Growth is expected to witness high supported by increasing demand for advanced surveillance solutions across residential and commercial segments.
Regional analysis: North America dominates the market currently due to high cloud camera adoption for residential security systems. Asia Pacific is expected to grow at the fastest pace during the forecast period with rising surveillance needs of consumers in China, India & other developing nations.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
