IP Camera Market - Forecast(2020 - 2025)
IP Camera Market Overview:
According to Interpol, at the end of December 2017, there were 7.19 million records of reported stolen motor vehicles along across 126 countries[1]. The disconcerting number of thieveries and robberies across the globe has become a major concern to the security and surveillance sector which is creating a tangible need for IP camera devices that have already become an alternative to the watchful human eyes. As the research by IndustryARC’s market analyst, the IP camera market size was valued to be $6.0 billion to $6.3 billion in 2018, and the demand is estimated to grow at a remarkable CAGR of 9.5% to 10.5% during the forecast period of 2019 to 2025.
North America is observing a constant development in the commercial and industrial sector. Additionally, the soaring construction of skyscrapers and shopping mall in the region is a well-known phenomenon. The region is also ahead in terms of security and surveillance, and IP camera is an integral part of the same. Now, these factors are collectively leading to substantial opportunities in the North American IP camera market which many manufacturing companies are leveraging. According to the market expert, the region had a market share of 34% to 36% in 2018.
IP Camera Market Outlook:
IP camera or Internet Protocol camera or netcam is a digital video camera that is used in surveillance. Unlike closed-circuit television camera (CCTV), IP camera works more like webcams and sometimes requires a central network video recorder. IP camera finds applications in security and surveillance, military, industries, and real estate.
“Owing to the rapidly growing commercial sector and its envisioned growth across the globe coupled with the demand for the advanced security gadgets will widen the IP camera market size in the future,” marks the market expert in this IP camera market research report by IndustryARC. Furthermore, the market analyst estimates the application CAGR of IP cameras in the commercial sector to be 24% to 25% through to 2025.
IP Camera Market Growth Drivers:
- The Remarkable Growth in the Real Estate and Industrial Sector –
In its sustainable development goals, the United Nations has mentioned a need for providing affordable goods to people across the globe, thereby initiating a proposal for more industrial development with well-equipped manufacturing units. Now, with so many industries across the globe and prospects of some more production plants to fulfill the future demand, there will be a surge in the demand for IP camera for security and surveillance in projects and operating plants. Furthermore, with a rapidly growing population which is projected to be 8.6 billion in 2030 by the United Nations[2], the real-estate industry is going to observe a disruptive growth, which will further flourish the IP camera market.
- The Growing Demand in Military Operations –
Nowadays, the military operations highly rely on the footage captured by cameras, and due to the growing terrorism across the globe, there is also an upsurge in the use of UAV drones to locate the territories of terrorists. Furthermore, the Police Department of a lot of cities in North America such as Florida and Texas are using drones for surveillance. Now, these UAV drones utilize IP cameras for footage, which is creating a huge IP camera marketplace for the vendors.
- The Technology Advancements: A Major Factor Fueling Growth of IP Cameras –
According to the business intelligence report by IndustryARC, the IP Camera market was valued to be $15 billion to $17 billion in 2018, and the demand for the same will growth with a CAGR of 8% to 9%. Moreover, the IP Camera* market is undergoing constant development with the emergence of 4K resolution, edge-based video analytics, and H.265 high efficiency video encoding. Now, these emerging technologies are incorporated in IP cameras which is largely supportive in maintaining the customer base that demands advanced security and surveillance monitoring gadgets.
IP Camera Market Challenges:
The major challenge in the IP camera market is that there is a huge demand for holistic solution by the surveillance sector which requires vendors to create a flawless and performance-critical product with superlative resolution. Now, this warrants a significant investment in R&D which also comes with subsequent benefits that help the vendors to reap better returns on investment.
IP Camera Market Key Players Perspective:
The market leader in the IP camera market is Bosch Security Systems which observed an encouraging growth in 2017 with an expansion in the installation business in the US.
The major key players in the IP camera market are Bosch Security Systems, Axis Communications, Sony Professional, Samsung Techwin, Dahua Technology, Panasonic Security System, and Hikvision Digital Technology.
IP Camera Market Trends:
- In February 2017, Bosch Security Systems confirmed its marketing partnership with Sony Corporation in the field of security solutions. This partnership attributes to the market leadership of Bosch in the security sectors and Sony’s indubitable finesse in the camera technology.
- The Japanese telecom giant NTT East in association with Earth Eyes Corp. is building an AI security camera, which is going to bring a revolutionary change in the IP camera market.
IP Camera Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the IP Camera market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of IP Camera market, and their specific applications in the residential, commercial, public/government, and other sectors.
IP Camera Market Report: Industry Coverage
The report analyses the product demands on the bases of the type of product that include fixed cameras, PTZ cameras, and infrared (IR) cameras. Furthermore, it analyses the product on the basis of different kinds of mountings that include wall mounts, ceiling mounts, parapet mounts, and pole mounts. The market is further segmented on the basis of technology used - DVR technologies, PC based DVR, and hardware based DVR.
The IP Camera market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
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