Research: Smart Home Security Technology Sales Will Continue to Grow in 2022-2024

Research: Smart Home Security Technology Sales Will Continue to Grow in 2022-2024

  • Nov 03, 2021

Sales of networked cameras, video doorbells, and smart speakers/smart displays will exceed 250 million units in 2022-2024. That's according to Parks Associates.

The firm's data estimates that between 2022 and 2024, more than 250 million networked cameras, video doorbells, and smart speakers/smart displays will be sold in the US. The industry report "Context is King: Video & Audio Analytics" examines how video and audio analytics are evolving and impacting the smart home user experience, including driving adoption of new devices and attached services.

“Consumers want the often difficult combination of peace of mind, privacy, and convenience with monitoring and independent living solutions,” said Chris White, Sr. Analyst, Parks Associates. “With video and audio analytics, standard devices such as video doorbells and networked cameras have expanded capabilities, providing more value and context to consumers.”

Video and audio gathered near access points are the most prominent and traditional monitoring activity, but increasingly consumers desire more monitoring beyond the entrance/exits of homes. Parks Associates’ latest consumer data also reveals 68% of network camera owners have cameras installed outside the home.

“Consumers are increasingly turning to networked cameras and video doorbells to provide the sense of security and peace of mind traditionally provided by full-fledged security systems,” White said. “Approximately a third of network camera owners report relying on their devices more heavily due to the COVID-19 crisis.”

Parks Associates notes the recent announcement that ASSA ABLOY, a leader in access controls, will purchase Spectrum Brands’ hardware and home improvement business for $4.3 billion underscores the drive to add new use cases and user experiences within a product portfolio. Video and audio analytics reach the consumer through a complex set of verticals that includes chipset makers, AI software companies, and pro-monitoring or storage companies, with opportunities for revenue growth across the value chain, especially in monitoring, maintenance, and upgrades.

Featured

  • New Report Reveals Top Trends Transforming Access Controller Technology

    Mercury Security, a provider in access control hardware and open platform solutions, has published its Trends in Access Controllers Report, based on a survey of over 450 security professionals across North America and Europe. The findings highlight the controller’s vital role in a physical access control system (PACS), where the device not only enforces access policies but also connects with readers to verify user credentials—ranging from ID badges to biometrics and mobile identities. With 72% of respondents identifying the controller as a critical or important factor in PACS design, the report underscores how the choice of controller platform has become a strategic decision for today’s security leaders. Read Now

  • Overwhelming Majority of CISOs Anticipate Surge in Cyber Attacks Over the Next Three Years

    An overwhelming 98% of chief information security officers (CISOs) expect a surge in cyber attacks over the next three years as organizations face an increasingly complex and artificial intelligence (AI)-driven digital threat landscape. This is according to new research conducted among 300 CISOs, chief information officers (CIOs), and senior IT professionals by CSC1, the leading provider of enterprise-class domain and domain name system (DNS) security. Read Now

  • ASIS International Introduces New ANSI-Approved Investigations Standard

    • Guard Services

  • Cloud Security Alliance Brings AI-Assisted Auditing to Cloud Computing

    The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment, today introduced an innovative addition to its suite of Security, Trust, Assurance and Risk (STAR) Registry assessments with the launch of Valid-AI-ted, an AI-powered, automated validation system. The new tool provides an automated quality check of assurance information of STAR Level 1 self-assessments using state-of-the-art LLM technology. Read Now

  • Report: Nearly 1 in 5 Healthcare Leaders Say Cyberattacks Have Impacted Patient Care

    Omega Systems, a provider of managed IT and security services, today released new research that reveals the growing impact of cybersecurity challenges on leading healthcare organizations and patient safety. According to the 2025 Healthcare IT Landscape Report, 19% of healthcare leaders say a cyberattack has already disrupted patient care, and more than half (52%) believe a fatal cyber-related incident is inevitable within the next five years. Read Now

Most   Popular

New Products

  • A8V MIND

    A8V MIND

    Hexagon’s Geosystems presents a portable version of its Accur8vision detection system. A rugged all-in-one solution, the A8V MIND (Mobile Intrusion Detection) is designed to provide flexible protection of critical outdoor infrastructure and objects. Hexagon’s Accur8vision is a volumetric detection system that employs LiDAR technology to safeguard entire areas. Whenever it detects movement in a specified zone, it automatically differentiates a threat from a nonthreat, and immediately notifies security staff if necessary. Person detection is carried out within a radius of 80 meters from this device. Connected remotely via a portable computer device, it enables remote surveillance and does not depend on security staff patrolling the area.

  • Camden CV-7600 High Security Card Readers

    Camden CV-7600 High Security Card Readers

    Camden Door Controls has relaunched its CV-7600 card readers in response to growing market demand for a more secure alternative to standard proximity credentials that can be easily cloned. CV-7600 readers support MIFARE DESFire EV1 & EV2 encryption technology credentials, making them virtually clone-proof and highly secure.

  • Luma x20

    Luma x20

    Snap One has announced its popular Luma x20 family of surveillance products now offers even greater security and privacy for home and business owners across the globe by giving them full control over integrators’ system access to view live and recorded video. According to Snap One Product Manager Derek Webb, the new “customer handoff” feature provides enhanced user control after initial installation, allowing the owners to have total privacy while also making it easy to reinstate integrator access when maintenance or assistance is required. This new feature is now available to all Luma x20 users globally. “The Luma x20 family of surveillance solutions provides excellent image and audio capture, and with the new customer handoff feature, it now offers absolute privacy for camera feeds and recordings,” Webb said. “With notifications and integrator access controlled through the powerful OvrC remote system management platform, it’s easy for integrators to give their clients full control of their footage and then to get temporary access from the client for any troubleshooting needs.”