China’s Surveillance Camera Market Is Shrinking, but Xiaomi Remains the Leader

China’s consumer video surveillance camera market has declined for the first time. Saturation of urban homes with these devices, along with longer equipment lifespans, has led to a drop in overall performance in this segment. This was reported by the Runto Technology analytical agency. Ixbt.com reports this in a report.

According to expert analysis, a total of 25.54 million video surveillance cameras were sold in China during the first half of this year. That is 8.9% fewer than in the same period last year. At the same time, manufacturers’ total revenue fell by 4.8% to 5.4 billion yuan.

Reasons for the Market Slowdown and New Demand

Market saturation in major cities is cited as one of the main factors behind the industry’s decline. In particular, the penetration rate of video surveillance devices in apartments in major metropolitan areas has approached 50%. The decline in the number of newly renovated homes also had an impact.

At present, new demand in the market is being generated mainly by smaller cities. In addition, consumers have begun replacing outdated devices with new ones. Since this type of technology has an average service life of three to five years, the replacement cycle takes time.

Leading Brands and the Competitive Landscape

According to online market results, Xiaomi managed to retain its leading position. Its share of unit sales was 13.4%, while its revenue share stood at 12.6%. Ezviz and Hikvision rounded out the top three with shares of 10.6% and 10.4%, respectively.

Qiaoan took fourth place. According to the data, the four major companies together accounted for 41.4% of the market, down 4.7 percentage points in one year. This indicates that competition is intensifying and other smaller players are also gaining market share.

Despite the challenging conditions, Xiaomi is actively expanding its product lineup. In particular, in March this year, the company introduced its first outdoor surveillance camera supporting 4G technology, designed for use in locations without wired internet or a permanent power supply.