China's Surveillance Camera Market Surges in November 2023 with Xiaomi, Qiaoan, and EZVIZ Leading the Way

Luotu Technology, a prominent player in the tech industry, unveiled its latest findings in the "China Surveillance Camera Online Retail Market Monthly Tracking Report," revealing a significant surge in domestic surveillance camera sales during November 2023.

According to the report, the sales volume of surveillance cameras in the online market in mainland China reached 2.16 million units, marking a substantial year-on-year increase of 14.4% and a slight month-on-month rise of 0.3%. Despite the sales volume growth, the total sales revenue was 450 million yuan, reflecting a year-on-year decrease of 10.7% and a month-on-month decline of 1.8%.

Leading the pack in November were tech giants Xiaomi, Qiaoan, and EZVIZ, securing the top three spots with sales shares of 12.7%, 11.1%, and 7.9%, respectively.

Luotu Technology highlighted a shifting consumer preference towards surveillance equipment emphasizing superior image quality. Camera products boasting 3 million pixels and above claimed a robust market share of 27.5% during the month, with 5 million pixel camera products capturing a substantial 19.7%. In this segment, Qiaoan, Xiaomi, and Jingweiwei emerged as the top three players.

Notably, the report showcased a surge in the sales of ultra-high-definition pixel surveillance products, particularly in the 8-megapixel category. The market share for online sales of 8-megapixel cameras witnessed a remarkable increase from 0.8% in January to 3.8% in November. Moreover, the sales volume of 8-megapixel cameras in November 2023 recorded a staggering year-on-year growth of over 200%, indicating a promising trajectory for products with 8 million pixels and above.

Luotu Technology predicts that the market for ultra-high-definition surveillance cameras will "continue to heat up" in the future, as consumers increasingly prioritize advanced imaging capabilities in their surveillance equipment.

The November 2023 surge in sales not only highlights the growing demand for surveillance cameras in China but also underscores the competitive landscape where industry leaders like Xiaomi, Qiaoan, and EZVIZ are shaping the market with innovative products and cutting-edge technology.

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