India Smart Home Security Camera Shipments Grew 76% YoY in 2022; CP Plus on Top

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Press releases
/Mar 16, 2023
/ Varun Gupta

The market’s shipments grew 49% YoY in Q4 2022 (October-December).
Shipments in the INR 2,500-INR 3,000 price band remained the highest in 2022, capturing 47% share.
CP Plus captured the top spot in 2022 with a 27% share as its shipments quadrupled YoY.
Xiaomi grew by 15% YoY to end 2022 in second position with a 19% share.
EZVIZ took the third spot with a 17% share and grew by 13% YoY.

New Delhi, Boston, Toronto, London, Hong Kong, Beijing, Taipei, Seoul – March 16, 2023

India’s智能家居 security cameramarket shipments grew76% YoYin 2022 and49% YoYin Q4 2022 (October-December), according to the latest research from Counterpoint’sSmart Home IoT Service. Throughout 2022, the market saw a boom in demand due to increased consumer awareness and aggressive pricing strategies of companies. Due to the holiday season and the introduction of several new models in the 2MP, 3MP and 4MP categories, the market increased by more than66% YoYin H2 2022.

Research Analyst Varun Guptasaid, “In a price-sensitive market such as India, the entry-level price point of smart cameras (INR 1,500 or ~$18) also creates a big demand pull. Shipments in theINR 2,500-INR 3,000price band remained the highest in 2022, capturing47% share. The discount offers around Diwali further pushed the sales in 2022. As safety remains a prime concern among consumers, the market is expected to perform well in 2023 as well. Smart cameras are gaining more popularity among small and medium retailers as they are less expensive and easy to install.”

Note: Figures may not add up to 100% due to rounding

Commenting from the brand perspective, Gupta said, “We expect the market to remain consolidated in 2023, even though the top three brands currently capture a combined share of63%. We saw new brands entering the market in 2022, which increased the competition and brought down the average selling price (ASP). In terms of features, the 2MP camera remains popular among users, but we expect the 3MP camera to gain more traction as it is becoming more affordable. Though the market remains online driven (more than60%), the offline market has started to gain traction in the past year through efforts from major brands, especially CP Plus which has a significant offline distribution channel.”

Looking at the market segmentation,Senior Research Analyst Anshika Jainsaid, “The indoor smart security camera accounted for more than75%of the total shipments, mainly driven by increased awareness and importance of indoor home security. Even residential developers are increasingly installing smart camera devices due to the hybrid work model.

India Smart Home Security Camera market summary

CP Plusby Aditya Infotech led the market with a27% share, with its shipments quadrupling YoY. The brand expanded its portfolio in H2 2022 with multiple launches in 2MP, 3MP and 4MP camera sizes for indoor and outdoor applications. CP Plus leads in terms of domestic manufacturing of smart cameras. The brand has focused on its strong offline distribution channel to offer cameras across India, coupled with aggressive pricing and bundled offers.
Xiaomigrew15% YoYin 2022 to capture the second spot with a19% share. It launched a new 3MP 2K camera in Q3 to offer a more premium experience to its customers.
EZVIZby Hikvision fell to the third position with a17% market shareand13% YoYgrowth. The brand experienced strong demand for its indoor and outdoor cameras. It offers a diverse portfolio and banks on its expertise and dominance in the surveillance market.
Tapoby TP-Link continued on its growth trajectory with an impressive97%annual growth and a10%market share. The brand dominated online marketplaces such as Amazon and Flipkart. Tapo’s growth can also be attributed to its diversified range of products, along with aggressive pricing. The C200 remained the brand’s bestseller smart camera in 2022.
Imouby Dahua Technologies was the second fastest-growing brand in 2022 with an8%market share. Its Ranger series of cameras has been performing well on online platforms.
Quboby Hero Electronix saw a24% YoYrise in shipments in 2022 with a7%market share. It was the second Indian brand among the top five players and has a focus on local manufacturing. Qubo performed well on online channels during the festive season. The Home Cam 360 Indoor camera was one of its bestsellers.

Other emerging brands

Kentgrew by19% YoYto end up in the top-10 list for 2022. The brand offers only two camera SKUs as of now, but it has performed well on online channels and is also present in offline retail stores. All the SKUs are being made in India. We expect the brand to expand its portfolio this year.
realmetook a spot in the top-10 list for 2022 with a38% YoYgrowth. It offers only one model as of now, but given its rising popularity as a brand, it is expected to offer more SKUs in the future to cater to different audiences.
Airtelentered the market in late Q3 2022 with a focus on providing its large broadband customer base with smart home products. It is the only brand to offer the devices through its channels only.
Zebronicsexperienced a decline of32% YoY在2022年。周围消费者意识的缺乏offerings and its products not being updated with the latest features were the key reasons for this decline.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media, and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts

Varun Gupta

Anshika Jain

Counterpoint Research

press(at)www.arena-ruc.com

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Varun Gupta

Varun is a Research Analyst with Counterpoint Technology Market Research dedicated to Consumer IoT, Emerging Devices and IP Licensing. Before joining Counterpoint, he has worked in the Consumer Electronics Industry with Dyson for 2 years. He is an inquisitive person, who likes to track emerging technologies, robotics, automobiles and smartphones. He is based out of Faridabad and has a Bachelor of Technology in Mechanical Engineering from Delhi College of Engineering.

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