Ring Held 2021 Security Camera Lead, but Inflection Point Near: SA
Amazon’s Ring held on to the top spot in the global home security camera market last year, reported Strategy Analytics Tuesday. Ring, Arlo, Wyze, Google Nest and Alarm.com combined to ship over 14 million cameras, about 20% of the total…
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72 million cameras shipped to consumers in 2021, it said. Ring’s brand strength in video doorbells continues to have a “halo effect” on the company's indoor and outdoor cameras, setting the brand up for the leading position at least for the next two years, said analyst Jack Narcotta. Brands that compete mostly in the U.S. -- Ring, Next and Wyze -- are “fast approaching an inflection point,” and then their business model will need to adapt to incentivize add-on camera sales or upgrades from older models, he said, saying most new customers are coming from Asia-Pacific countries. The $50-$100 segment is the main competitive arena for security cameras, said analyst Bill Ablondi, and will provide most brands with a balance of profits and revenue. Interactive security providers such as ADT, Alarm.com and Vivint will eventually control most of the premium price band as they develop sales and marketing campaigns to increase the number of cameras included on sales to new subscribers, while enticing existing subscribers with add-on camera purchases, he said.