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According to the data from RUNTO, in the first half of 2024, the sales volume of China’s consumer-grade surveillance camera market-low power camera reached 27.91 million units, a year-on-year increase of 9.2%; the sales revenue reached 5.6 billion yuan, a year-on-year increase of 1.1%.
Since the beginning of this year, in the consumer electronics track, surveillance cameras-especial solar powered camera is one of the few categories that have achieved double growth in volume and value. Its fundamental driving force comes from the improvement of consumers’ concepts and demand for security, monitoring, and caring.
On the other hand, the continuous influx of new players in the surveillance camera market, the diversification of product forms, and the continuous segmentation of application scenarios are also one of the factors for the long-term upward development of the market.
1. Channel changes: online growth, offline slowdown
According to RUNTO data, in the first half of 2024, the online market share of surveillance cameras increased by 4.5 percentage points to 50.8%.
At the same time, traditional e-commerce accounts for 43.4% of all channel sales. According to online monitoring data from RUNTO Technology, in the first half of 2024, the sales volume of traditional e-commerce surveillance cameras in China was 12.11 million units, a year-on-year increase of 21.6%; sales amounted to 2.6 billion yuan, a year-on-year increase of 5.8%.
2. Product direction: PTZ and bullet linkage, multi-lens viewing, high pixel like 8.0MP, 4K,12MP solution.
The product form of the overall market has undergone a significant change. From the initial fixed form to the rotatable form ptz, to the current ptz and bullet linkage, all-round monitoring has been achieved.
According to the online monitoring data of RUNTO Technology, in the first half of 2024, the proportion of gun-ball linkage cameras increased significantly, and its sales share exceeded the ball camera for the first time, an increase of 14.7 percentage points to 19.5%.
Dual lenses or multi-lens have become one of the standard features of product iteration. According to the online monitoring data, in the first half of 2024, the combined sales share of binocular and multi-lens products reached 31.9%, an increase of 20.2 percentage points year-on-year. Most of the binocular and multi-lens products promoted on the market adopt the “fixed + mobile viewing angle” method, which greatly expands the monitoring range in the horizontal direction.
Image quality is also a core indicator for the upgrade of surveillance cameras. In the monocular market, 4.0mp and 5.0mp are the mainstream of the market. In the first half of 2024, the combined sales share of the two reached 54%, a decrease of 9.4 percentage points; with the breakthrough of the dual lens and multi-lens, it has driven the 5 million and 8 million pixel markets, and the sales share increased by 8.6 and 5.2 percentage points respectively.
3. Scene application: the monitoring and “protection” attributes of cameras
In recent years, more and more cameras purchased by consumers on e-commerce platforms have been used in outdoor scenes. So solar powered system will play an important role on that. According to online monitoring data from RUNTO, in the first half of 2024, the sales share of indoor surveillance cameras reached 56.1%, still occupying a dominant position. However, as consumers’ willingness to travel increases, the demand for indoor and outdoor surveillance of the home, especially solar powered cameras has rapidly increased, and the proportion of outdoor surveillance cameras has increased from 37.2% in 2022 to 43.9% in the first half of 2024.
In addition to monitoring, cameras are widely used in the consumer market: low-power cameras to provide care for different consumer groups, such as the elderly, infants, and pets, the sales share of cameras with crying monitoring reached 22%, with a year-on-year sales growth of 6.5%; the penetration rate of pet recognition cameras is still low, with a sales share of less than 5%, but a year-on-year increase of more than 30%.
4. Forecast: China’s surveillance camera sales will reach 56 million units in 2024
In terms of price segment layout, the trend of two-end is becoming more and more obvious. In 2024, niche brands will mainly compete in the price segment below 150 yuan, while mainstream brands will accelerate penetration in the price segment above 300 yuan.
In terms of the supply chain, the upstream chip supply of cameras is concentrated on leading companies. Consumer IPC SoC is more concentrated in manufacturers such as Ingenic, Ankai, Fudan Micro, SigmaStar, and Goke Micro. With HiSilicon re-entering the security market, competition among upstream companies will further increase.
In terms of products, the pursuit of image quality is endless, and high pixels will be a product hotspot in 2024. Low-power cameras greatly alleviate the problem of energy consumption, black light cameras further solve the problem of night monitoring, and splicing cameras improve the monitoring field of view and realize panoramic monitoring.
Overall, cameras in the consumer market are evolving from being visible, to being clear, and then to being understandable. With the implementation of AI technology, cameras have gradually transformed from functional products to smart products, and have been further integrated into smart homes. Users can freely load computing algorithms and use one device to match various scenarios, such as crying monitoring, pet detection, face recognition, fireworks perception, gesture recognition, etc. The launch of algorithm stores in the consumer market will enhance the intelligence level of surveillance cameras and accelerate the application of fragmented scenarios.
In terms of scale, RUNTO predicts that in 2024, the overall sales volume of China’s consumer surveillance camera market will reach 56 million units, a year-on-year increase of 4.8%
