Yesterday, Canary debuted an outdoor version of its popular indoor security camera along with a series of customer service offerings. The launch marked a deeper push into the home security market, one analysts expect to be worth $1.5 billion by 2020.
New data suggests Canary may be well-poised to capture a larger slice of the automated home security market. The NPD Group, a retail tracking service, says in the U.S. three companies dominate internet-based home surveillance. Long-time webcam purveyor Netgear leads with 40% of the market; Alphabet’s Nest Cam pulls up in second place with 21% of the market. But newcomer Canary occupies about 9%. Though Canary lags significantly behind Nest in the U.S., it occupies more markets internationally than Nest does. Canary is in 15 countries, while Nest is only available in the U.S., the U.K., Canada, Belgium, France, Ireland, and the Netherlands.
More interesting is that Canary only began shipping product in early 2015; Nest Cam (previously known as Dropcam) has been on the market for roughly seven years.RR