How will the home security camera market develop over the next few years? This is a question I’ve been thinking about a lot during the preparations for the launch of our new VPai Home turnkey platforms at the Hong Kong Consumer Electronics and Mobile Electronics shows. Here are some thoughts on this topic.
Right now, we are still in the first stage of the development of the market, with a quite dizzying array of startups, established companies, and giants like Amazon rolling out a slew of bright and shiny monitoring devices and doorbells at reasonably affordable prices. Indeed, Amazon has gone as far as to purchase two of the leading startup players in the market, Ring and Blink, at valuations that show its confidence in the future growth of the market itself and the potential for delivering attached services to the heart of everyone’s home. Clearly, the overall potential is huge!
When you look at the positioning of this first generation of smart home cameras, the number one selling point is peace of mind. The prospect of being able to see for yourself that everyone is safe and sound back home from anywhere the world just using your smart phone is a compelling one for many people. So too is the promise of receiving an automatic alert should a balaclava-clad intruder should ever step on your lawn.
The ability to identify the person who is knocking on your door before having to open it is a key benefit of installing a smart doorbell. Having video evidence of the reprobate who whisked the packages from your doorway before you had time to pick them up is also becoming an increasingly valuable function of such devices.
Given the rising fear of crime, it’s clear that peace of mind will continue to be the primary demand and innovation driver for the home security camera market in the foreseeable future. On the hardware front, this is will lead to continued improvements smaller and higher-performance cameras with more powerful lenses that deliver improved image quality in both daytime and nighttime conditions and can handle wider and deeper viewing ranges.
The camera hardware improvements will be accompanied by complementary innovations in software and AI that will enable faster and more accurate facial and object recognition capabilities and more sophisticated alerts that could potentially, for example, identify intruders by matching their faces with those on cloud-based databases of known criminals.
As home security cameras become smaller, more powerful, easier to use, and cheaper to own, people will inevitably install more of them both inside and outside their homes. Will they continue to act solely as digital sentinels when they become part of the furniture or will new applications and usage scenarios emerge that will mesh them more closely in the weft and warp of our home life?
More on that in future entries on the home security camera market.