A report recently published by market research firm Parks Associates found that 68% of consumers installed their own network security cameras in Q4 2018, a significant jump when compared to Q4 2016 when 49% reported taking a DIY approach to camera installation.
"Sales of networked cameras will reach seven million units in 2019," said Dina Abdelrazik, Senior Analyst, Parks Associates. "Retailers like Best Buy have helped boost the profile of this product category through experience centers and device displays that can demonstrate key security and convenience use cases. Wireless connectivity also makes it easier for consumer to self-install. The next stage in competition will hinge on which camera can deliver the best user experience and value-driven use cases; however, for today, basic features such as image quality are top of mind."
In addition, among U.S. broadband households planning to buy a networked camera, image quality was cited as the most important factor guiding their purchase decision. The demand for high-quality video is also expected to drive post-purchase revenue opportunities to deliver video storage services. Also, one-third of networked camera owners say they have received a request from friends or family to view or share video from the device.
Among households that do not own and do not plan to buy a networked camera, 40% felt that it provided no benefit to their lifestyle.
"The consumers who report that these devices do not benefit their lifestyle may not be aware of how these devices can improve the safety and security of their homes," Abdelrazik said. "Manufacturers must continue to provide clear value propositions and innovate to make it easy to set up these devices. Those who have experienced technical issues are less likely to recommend these devices to a friend or family member."
Other key findings from the reported included:
- Adoption of networked cameras has stayed within the 9%-10% range in the last five years.
- Among networked camera owners, 20% control it with their voice assistant on their smartphone, while 19% control it through their smart speaker.
- Professionally monitored households lead in adoption at 29% over all broadband households at 10%.
For more information about the report, “Smart Market Product Assessment: Networked Cameras,” click here.
