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Smart Security Cameras - Guatemala

Guatemala
  • Revenue in the Smart Security Cameras market is projected to reach US$9.7m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 16.15%, resulting in a projected market volume of US$20.4m by 2029.
  • In the Smart Security Cameras market, the number of active households is expected to amount to 361.1k users by 2029.
  • Household penetration will be 7.4% in 2024 and is expected to hit 9.8% by 2029.
  • The average revenue per installed Smart Home currently is expected to amount to US$38.05.

Definition:

Smart Security Cameras market encompasses advanced surveillance cameras equipped with features such as motion detection, subject recognition, and remote access via the internet or mobile applications. These devices connect to Wi-Fi networks and can be integrated into broader home automation systems, enabling real-time monitoring, automatic alerts, and cloud storage for recorded footage. Smart Security Cameras are equipped with built-in intelligence and communication capabilities, allowing them to interface seamlessly with automation equipment.
This segment focuses specifically on the cameras themselves and excludes additional components like storage devices or monitoring services (see Control & Connectivity).

Additional Information:

The market comprises revenue, average revenue per smart home, number of smart homes, and household penetration rates. Sales figures are generated through both online and offline channels, emphasizing consumer (B2C) spending. Key players in this market include Arlo, Ring, Nest, Wyze, Blink, Eufy, SimpliSafe, TP-Link, Lorex, and other brands recognized for their innovative technology and reliability. For more information on the data displayed, use the info button next to the relevant boxes.

In-Scope

  • Indoor Smart Cameras (e.g., Arlo Q, Google Nest Cam Indoor)
  • Outdoor Smart Cameras (e.g., Ring Spotlight Cam, Wyze Cam Outdoor)
  • Battery-operated Smart Cameras (e.g., Blink Outdoor, Reolink Go)
  • Smart Doorbell Cameras (e.g., Ring Video Doorbell, Nest Hello)

Out-Of-Scope

  • Traditional CCTV systems without smart features
  • Standalone cameras without connectivity (e.g., analog cameras)
  • Non-digital surveillance equipment (e.g., film cameras, motion detectors without video capabilities)
  • Third-party monitoring services that do not integrate with smart cameras.

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Oct 2024

Source: Statista Market Insights

Most recent update: Oct 2024

Source: Statista Market Insights

Product Types

Most recent update: Oct 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Oct 2024

Source: Statista Market Insights

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

Key Market Indicators

Notes: Based on data from IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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Smart home - statistics & facts

Smart homes use connected devices and appliances to perform actions, tasks, and automated routines to save money, time, and energy. They are the ongoing revolution of the humble home appliance mixed with AI, robotics, and improvement in IoT technologies. AI in particular, speeding up response times and working as an automation bridge between homeowner and home is already having an impact.
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