Global Market for Smart Home Security Cameras to Near $12B by 2027

The smart home security camera market will reach $11.89 billion globally by 2027, expanding at a 15.7% compound annual growth rate through the forecast period, reported Grand View Research. The rising prevalence of security devices in smart homes for complete control and access remotely “is generating higher demand for these security cameras,” it said. North America dominates the smart home market with a 40% global revenue share. It’s estimated that U.S. smart home revenue will exceed $32 billion by the end of 2021.