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The network camera market size is forecast to increase by USD 23.5 billion, at a CAGR of 11.23% between 2022 and 2027. The market's expansion hinges on various factors, notably the rising need for video surveillance systems, propelled by technological advancements and their seamless integration into smart city applications. As demand surges, innovations in technology continuously enhance the capabilities of video surveillance, making them more efficient and versatile. This trend is particularly evident in smart city initiatives, where video surveillance plays a pivotal role in ensuring public safety, traffic management, and overall urban development. The synergy between increasing demand, technological progress, and the practicality of video surveillance in smart city environments forms a robust foundation for the market's sustained growth and evolution.
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This market report extensively covers market segmentation by end-user (public, commercial, and residential), component (software and hardware), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market is being propelled by the growing demand for security surveillance solutions, driven by concerns such as home burglaries, squatting, and the need for enhanced residential security. Metropolitan cities are particularly adopting these cameras due to their advanced features like IoT technologies, mountable Wi-Fi cameras, and smart IP cameras. Challenges such as physical recording devices and traditional CCTV cameras are being overcome with the adoption of internet protocol (IP) cameras, cloud storage space, and central networking, marking a significant trend towards digital and networked video surveillance systems. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage. A physical recording device connected to a local area network allows for data storage and sharing. Secondary storage devices can include hard drives, solid-state drives, and other storage mediums.
Advancements in technology are the key factor driving the growth of the global market. The development of cloud-based storage and video management systems has made it easy and inexpensive to store and manage large amounts of video data generated by network cameras installed in multiple locations. The development of advanced AI and machine learning algorithms have greatly improved the capabilities of network cameras. These algorithms enable network cameras to detect, and track moving objects, recognize faces, and even analyze human behavior in real time.
Advancements in video compression technologies, such as H.265 and H.264, have enabled network cameras to capture and transmit high-resolution video with smaller file sizes, thus reducing bandwidth requirements and storage costs. The rapid evolution of the Internet and networking technologies and the introduction of advanced Internet protocols, such as IPv6, have allowed faster and more reliable data transmission, which, in turn, has enabled network cameras to capture and transmit high-quality video over the Internet. All these factors will drive the growth of the global market during the forecast period.
The development of 5G-enabled cameras is a major trend in the global market. These network cameras transmit audio and video signals over 5th-generation wireless networks that are being gradually rolled out in many countries around the world. Only a handful of these 5G-capable cameras are currently available on the market. Consumers can expect much faster and higher quality video with an even wider range of integrations and applications as video becomes more popular.
Additionally, the latest Internet protocol camera technology is gaining traction, and it is also highly likely that 5G cameras and mobile applications will become even more effective and intuitive. All these technological factors will drive the growth of the global market during the forecast period.
One of the biggest challenges in the market is the lack of awareness of advanced technologies such as wireless video surveillance and network cameras. Awareness of such technologies helps organizations understand the security risks and threats they face and helps organizations implement adequate security measures in a cost-effective manner. It also highlights responsibilities related to security policies and practices. Compromising security can be detrimental to any business.
Currently, organizations in developing regions are unaware of the security breaches that may lead to the loss of confidential data. So, companiess need to create awareness about the upcoming technologies through trade fairs, seminars and webinars, and other promotional events. Lack of awareness adversely affects the widespread adoption of network cameras and will hinder the growth of the market in the future during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arecont Vision Costar LLC: The company offers AV 02CID 200 network camera inbuilt with microSDXC card that supports up to 1TB of capacity for convenient onboard storage, thus designed with smart IR-led illumination, which automatically adjusts output in response to the distance of an object.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative market research and growth analysis of companiess has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. In market growth analysis, data is qualitatively analyzed to categorize companiess as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companiess as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth driven by the increasing emphasis on security surveillance due to rising incidents of home burglaries and squatting. These cameras, especially Internet Protocol (IP) cameras and smart IP cameras, are gaining traction in metropolitan cities and urban areas due to their integration with IoT technologies. Mountable Wi-Fi cameras are also becoming popular for their flexibility in installation.Video surveillance solutions are evolving rapidly, with network cameras leading the way in providing road traffic monitoring, industrial operation monitoring, and domestic surveillance capabilities. Unlike traditional CCTV cameras, IP cameras offer the advantage of cloud storage space, eliminating the need for physical recording devices.The shift from Analog closed-circuit television (CCTV) systems to IP protocol networks is driven by the demand for central networking and remote access. These play a crucial role in monitoring malicious activities, terrorist activities, and deterring felons.
The market share growth by the public segment will be significant during the forecast period. Public sector organizations deploy it in highways, streets, bridges, stadiums, parks, playgrounds, refineries, and religious institutions. The increasing threat of criminal activity has encouraged governments to deploy it for effective video surveillance.
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The public segment was valued at USD 9.24 billion in 2017 and continued to grow until 2021. The need to ensure the safety and welfare of citizens has increased the demand for video surveillance. Video surveillance is a necessary tool in the public sector to increase public safety and curb terrorism and criminal activity. Using this for video surveillance improves situational awareness, prevents unwanted incidents, and simplifies response to emergencies such as terrorist attacks and natural and man-made disasters. As a result, there is a growing demand for it for public infrastructure, such as government agencies and institutions, subway stations, traffic lights, and federal prisons. Such factors will increase segment growth during the forecast period.
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APAC is estimated to contribute 72% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is expected to grow due to the increasing deployment of smart city projects and the prevalence of IoT devices. With rapid population growth, urbanization, and an increase in dual-income households, the demand for well-developed housing infrastructure is increasing. This has led property developers to implement a large number of smart home projects. Developing countries in APAC are also transitioning to smart homes. Smart homes use network cam for surveillance and monitoring purposes. Distributed network cam are preferred in smart homes because they have separate storage. Hence, the increasing penetration of smart homes and smart cities in APAC will drive the growth of the market in the region during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
The market is witnessing significant growth driven by the increasing emphasis on security surveillance due to rising incidents of home burglaries and squatting. These cameras, especially Internet Protocol (IP) cameras, are gaining traction in metropolitan cities and urban areas due to their integration with IoT technologies. Mountable Wi-Fi cameras and smart IP cameras with features like infrared capabilities are enhancing video monitoring capabilities in commercial buildings and residential security systems.
Moreover, the adoption of digital systems and HD formats, coupled with features like remote focus and camera analytics for face and body detection, is fueling demand across various sectors. Government facilities, military and defense, and industrial sectors are among the key adopters of Pan-Tilt-Zoom (PTZ) cameras for security and monitoring purposes. The market landscape depends on factors such as the Video surveillance mobile display, Higher resolution, Inspection, Surveillance market, Video cameras, Centralized and Decentralized. The market is also witnessing advancements in video analytics, artificial intelligence (AI), and robotics for seamless video analytics services. However, challenges such as security threats, cyber-attacks, and data privacy concerns necessitate software customization and operational training for effective installation and maintenance of network cameras. With high-resolution capabilities, wider angles, and advanced safety features, network cameras are playing a vital role in critical monitoring across medium and small-scale industries in sectors like transportation, manufacturing, IT and Telecom, energy and utilities, and media and entertainment.
Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.23% |
Market growth 2023-2027 |
USD 23.5 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
10.86 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 72% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companiess, market positioning of companiess, competitive strategies, and industry risks |
Key companies profiled |
Arecont Vision Costar LLC, Avigilon Corp., Axis Communications AB, Basler AG, Belkin International Inc., Cisco Systems Inc., Eagle Eye Networks Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Corp., Honeywell International Inc., Johnson Controls International Plc, MOBOTIX AG, Netgear Inc., Panasonic Holdings Corp., Pelco Inc., Robert Bosch GmbH, Shenzhen Gospell Smarthome Electronic Co. Ltd., Sony Group Corp., Teledyne Technologies Inc., and Zhejiang Dahua Technology Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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