Analytical Study of Smart Home Security Camera in Korea for 2024 to 2034
Sales of smart home security camera in Korea are poised to surge at a staggering 17.2% CAGR through 2034. The overall demand for smart home security camera in Korea is set to rise, crossing a valuation of US$ 259.7 million in 2024. By 2034, sales projections for smart home security camera in Korea indicate reaching a valuation of US$ 1,268.7 million.
Attributes
Details
Industry Size in Korea in 2024
US$ 259.7 million
Expected Industry Size of Korea by 2034
US$ 1,268.7 million
Forecasted CAGR between 2024 to 2034
17.2%
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Key Trends to Bolster Revenues through 2034
Smart home camera manufacturers in Korea are exploring the implementation of edge computing and on-device processing. The aim is to reduce reliance on external cloud services in the coming years.
Strategic alliances with prominent voice assistants like Bixby, Alexa, and Google Assistant are being utilized to deliver voice-activated control and access to smart home security camera, thereby increasing consumer convenience and brand competitiveness.
Korean businesses are developing smart camera with AI algorithms that can track the well-being of individuals, particularly in households with elderly family members. These camera are capable of detecting falls, unusual activity patterns, or symptoms of distress and alerting caretakers or family members.
The integration of smart home security camera and emergency response systems is becoming more popular. These camera can automatically inform local authorities or private security agencies in the case of a security breach or an emergency scenario, allowing for a speedier response.
Camera that can recognize certain things, such as a pet, a package delivery, or a car, and initiate associated actions or alarms are in high demand. This function improves the camera's usability and versatility.
Korean enterprises could experiment with AR integration, enabling users to overlay camera feeds with extra information, such as real-time sign translation or better home navigation.
Industry participants are taking advantage of Korea's broad rollout of 5G infrastructure to provide real-time high-definition video streaming and lower-latency responses in smart home security camera products.
Key Insights - Highlights on the Emerging Opportunities in the Smart Home Security Camera Industry
Designing smart camera with environmental sensors that monitor air quality, temperature, and humidity can meet the rising need in Korean households for health and wellness monitoring.
Development of user-friendly mobile applications that allow consumers to manage and monitor their smart home security camera from their smartphones. Also, integrating extra features such as geofencing and automation for a better user experience.
Collaboration with local governments and security organizations to incorporate smart camera into community safety initiatives and improve emergency response.
Promoting energy-efficient camera models and environmentally friendly design elements in accordance with Korea's emphasis on environmental sustainability.
Providing powerful data privacy and security capabilities to tackle customer concerns and comply with growing privacy legislation.
Creating sophisticated access control capabilities, such as speech and biometric verification, that go beyond facial recognition to improve the security of residential locations such as residential buildings and gated communities.
Find your sweet spots for generating winning opportunities in this market.
Comparative View of Adjacent Smart Home Security Camera in Key Markets
The table presents a comparative overview of smart home security camera and their adoption rates in Korea, Japan, and globally. According to the analysis, the escalating security and safety concerns at home and in public places are driving the need for monitoring and security in Korea. Smart home security camera integrated with renowned voice assistants like Bixby, Alexa, or Google Assistant are witnessing increasing demand in Korea, enabling consumers to manage and access their camera using voice requests.
Japan is experiencing a rising trend in adopting face recognition technology for access control in residential settings such as apartment complexes and gated communities. Smart camera with facial recognition capabilities may permit or refuse access based on the faces of authorized inhabitants, improving security and convenience.
On a global scale, businesses are employing multi-layered authentication systems to access camera feeds and settings, including face recognition, biometrics, and user-specific PINs or passwords. Smart home security camera providers are differentiating their products with advanced authentication methods.
Industry Analysis of Smart Home Security Camera in Korea:
Attributes
Industry Analysis of Smart Home Security Camera in Korea
Korea CAGR between 2024 and 2034
17.2%
Industry Size of Korea in 2024
US$ 259.7 million
Key Trends in Korea
Rising integration with voice assistants
Key Challenge
Increasing privacy concerns due to potential misuse of information
Demand for Smart Home Security Camera in Japan:
Attributes
Demand for Smart Home Security Camera in Japan
CAGR (2024 to 2034)
15.4%
Valuation (2024)
US$ 554.5 million
Key Trend
Increasing usage of facial recognition capabilities
Key Challenge
Balancing affordability and advanced features is challenging
Opportunity Assessment in Global Smart Home Security Camera Market:
Attributes
Opportunity Assessment in Global Smart Home Security Camera Market
CAGR (2024 to 2034)
12.9%
Valuation (2024)
US$ 8,658.00 million
Key Trend
Growing integration of multi-layered authentication
Key Challenge
Rising network congestion due to increasing smart devices
Category-wise insights
Rapid Infrastructural Growth Drives Demand for Wired Smart Camera
Leading Connectivity for Smart Home Security Camera in Korea
Wired Smart Camera
Total Value Share (2024)
71.10%
Wired connections are typically considered more secure than wireless connections because they are less susceptible to hacking or signal interference. The perceived security advantage of wired connections can be a key selling feature in an industry where data security and privacy are crucial. Korea is well-known for its sophisticated internet infrastructure, which includes high-speed broadband and ubiquitous fiber optic access. This deployment of wired smart camera is supported by this robust infrastructure, allowing for high-definition video streaming and continuous surveillance without the risk of signal losses or latency difficulties. The rapid growth of infrastructure is expected to boost demand for connected smart home security camera in the future years.
Physical Stores Thrive in Korea amid Cultural Ties and Consumer Choices
Leading Sales Channel for Smart Home Security Camera in Korea
Physical Stores
Total Value Share (2024)
69.10%
For the younger generation in Korea, the future of brick-and-mortar shops appears secure, at least in the short term. In 2021, more than 65% of Koreans favored offline shopping, citing the ability to personally inspect products, and buying a smart home security camera is no exception. Traditional and independent markets coexist with chain businesses, such as department stores and hypermarkets, in the Korean retail scene. Physical stores are preferred in Korea due to social and cultural reasons. In addition to the value of human relationships, the tactile sensation of physically examining items is important. Koreans place a high emphasis on in-person conversations with vendors, asking for tailored advice, and developing a relationship of trust. The comfort and familiarity of conventional retail locations, together with a need for instant satisfaction, continue to fuel the appeal of physical stores, even while eCommerce is rising.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
Competitive Landscape
The smart home security camera industry in Korea features an evolving competitive landscape with a mix of domestic and foreign competitors striving for a competitive edge. Growing security concerns and the emergence of smart home ecosystems drive healthy industry growth. Domestic firms like Samsung and LG are fierce competitors, utilizing their established presence and brand image to offer complete security solutions integrated into their larger product ranges. These firms concentrate on developing synergies within their product ecosystems to deliver end-to-end smart home solutions, thereby increasing their competitive position.
International firms, such as Google's Nest and Amazon's Ring, are also making strides in the Korean industry. These firms bring their worldwide expertise and technical advancements to the forefront to seize a portion of the rising demand for smart home security camera. Their focus on cloud-based solutions and AI-powered features has piqued the interest of tech-savvy Korean customers.
Strategies for Key Players to Tap into Potential Growth Opportunities
Allow users to adjust camera settings, alerts, and features to meet their specific security needs, increasing customer happiness and loyalty.
Provide data analytics services enabling homeowners to make data-driven decisions regarding their protection and safety, improving the products' value proposition.
Prioritize sustainability by decreasing manufacturing's environmental imprint and stressing energy-efficient designs, which contribute to both environmental responsibility and cost savings.
Increase popularity and income streams by expanding the product line to meet varied customer demands, such as interior and outdoor camera, environmental sensors, and elderly care solutions.
Recent Development Observed in Smart Home Security Camera in Korea
In October 2023, Seoul implemented an intelligent disaster prevention and safety system based on the population density data collected by security camera.
Amazon just released the Blink Outdoor 4, a brand-new Blink camera, in August 2023. Together with a new design, it also has upgraded hardware that produces better low-light sensitivity, a larger 143-degree field of view, and high-quality photos.
In June 2023, the award-winning smart home security system manufacturer SimpliSafe launched the Smart Alarm Wireless Indoor Security Camera with 24/7 live guard protection. With the aid of the new Smart Alarm Indoor Camera, the industry's first professional monitoring function could potentially prevent crime in real time by enabling monitoring agents to view and communicate with intruders directly.
Some of the Key Players in Smart Home Security Camera in Korea
Samsung
LG Electronics
Hanwha Techwin
ADT Caps
KT Corporation
SK Telecom
Cubie
Goscam
DLink Korea
Withus Technology
Scope of the Report
Attribute
Details
Estimated Industry Size in 2024
US$ 259.7 million
Projected Industry Size in 2034
US$ 1,268.7 million
Anticipated CAGR between 2024 to 2034
17.2% CAGR
Historical Analysis of Demand for Smart Home Security Camera in Korea
2019 to 2023
Demand Forecast for Smart Home Security Camera in Korea
2024 to 2034
Report Coverage
Industry Size, Industry Trends, Analysis of key factors influencing Smart Home Security Camera Adoption in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korean Manufacturers
Key Cities Analyzed While Studying Opportunities in Smart Home Security Camera in Korea
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Key Companies Profiled
Samsung
LG Electronics
Hanwha Techwin
ADT Caps
KT Corporation
SK Telecom
Cubie
Goscam
DLink Korea
Withus Technology
Key Segments
By Product Type:
Wired Smart Camera
Wireless Smart Camera
By Application:
Smart Doorbell Camera
Smart Indoor Camera
Smart Outdoor Camera
Key Cities/Provinces:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
How Rapidly is the Demand for Smart Home Security Camera in Korea Growing?
The expected CAGR until 2034 stands at a remarkable 17.2%.
What is the Demand Outlook for Smart Home Security Camera in Korea?
The demand for smart home security camera in Korea is projected to reach US$ 1,268.7 million by 2034.
Which Trends Influence the Demand for Smart Home Security Camera in Korea?
Sustainability and energy efficiency trends influence the demand for smart home security camera in Korea.
What Strategies are used by Smart Home Security Camera Manufacturers in Korea?
Smart home security camera manufacturers emphasize product innovation to cater to dynamic consumer preferences.
What is the Preferred Product Type for Smart Home Security Camera in Korea?
Wired smart camera is highly preferred in Korea's smart home security camera industry.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Camera Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Camera Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Camera Type, 2023 to 2033
5.3.1. Smart Video Doorbell Camera
5.3.2. Smart Indoor Camera
5.3.3. Smart Outdoor Camera
5.4. Y-o-Y Growth Trend Analysis By Camera Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Camera Type, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Connectivity
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Connectivity, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Connectivity, 2023 to 2033
6.3.1. Wired Smart Camera
6.3.2. Wireless Smart Camera
6.4. Y-o-Y Growth Trend Analysis By Connectivity, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Connectivity, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Sales Channel, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Sales Channel, 2023 to 2033
7.3.1. ecommerce/Online
7.3.2. Physical Stores/Offline
7.4. Y-o-Y Growth Trend Analysis By Sales Channel, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Sales Channel, 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
8.3.1. South Gyeongsang
8.3.2. North Jeolla
8.3.3. South Jeolla
8.3.4. Jeju
8.3.5. Rest of Korea
8.4. Market Attractiveness Analysis By Region
9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Camera Type
9.2.2. By Connectivity
9.2.3. By Sales Channel
9.3. Market Attractiveness Analysis
9.3.1. By Camera Type
9.3.2. By Connectivity
9.3.3. By Sales Channel
9.4. Key Takeaways
10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Camera Type
10.2.2. By Connectivity
10.2.3. By Sales Channel
10.3. Market Attractiveness Analysis
10.3.1. By Camera Type
10.3.2. By Connectivity
10.3.3. By Sales Channel
10.4. Key Takeaways
11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Camera Type
11.2.2. By Connectivity
11.2.3. By Sales Channel
11.3. Market Attractiveness Analysis
11.3.1. By Camera Type
11.3.2. By Connectivity
11.3.3. By Sales Channel
11.4. Key Takeaways
12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Camera Type
12.2.2. By Connectivity
12.2.3. By Sales Channel
12.3. Market Attractiveness Analysis
12.3.1. By Camera Type
12.3.2. By Connectivity
12.3.3. By Sales Channel
12.4. Key Takeaways
13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Camera Type
13.2.2. By Connectivity
13.2.3. By Sales Channel
13.3. Market Attractiveness Analysis
13.3.1. By Camera Type
13.3.2. By Connectivity
13.3.3. By Sales Channel
13.4. Key Takeaways
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Camera Type
14.3.3. By Connectivity
14.3.4. By Sales Channel
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Vivint Smart Home Inc.
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. ADT LLC
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.2.5.2. Product Strategy
15.1.2.5.3. Channel Strategy
15.1.3. Simplisafe Inc.
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.3.5.2. Product Strategy
15.1.3.5.3. Channel Strategy
15.1.4. Brinks Home Security
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.4.5.2. Product Strategy
15.1.4.5.3. Channel Strategy
15.1.5. Skylinkhome
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.5.5.2. Product Strategy
15.1.5.5.3. Channel Strategy
15.1.6. Samsung Electronics Co. Ltd.
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.6.5.2. Product Strategy
15.1.6.5.3. Channel Strategy
15.1.7. Frontpoint Security Solutions LLC
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.7.5.2. Product Strategy
15.1.7.5.3. Channel Strategy
15.1.8. Arlo Technologies Inc.
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.8.5.2. Product Strategy
15.1.8.5.3. Channel Strategy
15.1.9. Wyze Labs Inc.
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.9.5.2. Product Strategy
15.1.9.5.3. Channel Strategy
15.1.10. Blink
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.10.5.2. Product Strategy
15.1.10.5.3. Channel Strategy
15.1.11. Ring LLC
15.1.11.1. Overview
15.1.11.2. Product Portfolio
15.1.11.3. Profitability by Market Segments
15.1.11.4. Sales Footprint
15.1.11.5. Strategy Overview
15.1.11.5.1. Marketing Strategy
15.1.11.5.2. Product Strategy
15.1.11.5.3. Channel Strategy
16. Assumptions & Acronyms Used17. Research Methodology
