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The network camera market size is estimated to grow at a CAGR of 11.23% between 2022 and 2027. The market size is forecast to increase by USD 23.5 billion. The growth of the market depends on several factors, such as the increasing demand for video surveillance systems, the advancements in technology, and the suitability of video surveillance applications in smart cities.
This network camera 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.
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The advancements in technology are notably driving the market growth, although factors such as a lack of awareness among end-users about advanced technologies in security solutions may impede the market growth. 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.
Advancements in technology are the key factor driving the growth of the global network camera 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 network camera market during the forecast period.
The development of 5G-enabled cameras is a major trend in the global network camera 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 network camera 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, vendors 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.
Global Network Camera Market Customer Landscape
Vendors 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 which 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 vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the public segment will be significant during the forecast period. Public sector organizations deploy network cameras in highways, streets, bridges, stadiums, parks, playgrounds, refineries, and religious institutions. The increasing threat of criminal activity has encouraged governments to deploy network cameras 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 network cameras for video surveillance. Video surveillance is a necessary tool in the public sector to increase public safety and curb terrorism and criminal activity. Using network cameras 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 network cameras 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 network camera 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 cameras for surveillance and monitoring purposes. Distributed network cameras 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 network camera market in the region during the forecast period.
A drastic increase in the number of COVID-19 cases in countries such as China, South Korea, and Malaysia had a positive impact on the growth of the network camera market in the region. However, the implementation of mass COVID-19 vaccination drives and the resumption of supply chain operations for network cameras propelled the growth of the market in focus in 2021. The resumption of operations in end-user industries, such as government offices and manufacturing facilities, among others, increased the demand for network cameras in 2021 and 2022. The regional market in focus is expected to be driven by the digitization in end-user industries, which will augment the growth of the regional network camera market during the forecast period.
The network camera market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global network camera market as a part of the global electronic equipment and instruments market within the overall electronics market. The super parent global electronics market includes manufacturers of communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, electronic components, consumer electronics, and industrial electronics products, as well as electronic manufacturing services. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Network Camera 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 vendors, market positioning of vendors, 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 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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