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The internet protocol (IP) camera market size is projected to increase by USD 24.61 billion at a CAGR of 26.14% between 2023 and 2028. Video analytics software plays a pivotal role in the IP camera market by automating the analysis of surveillance footage. This technology, integrated into IP cameras or Network Video Recorders (NVRs), significantly reduces the workload on security personnel, thereby enhancing the effectiveness of surveillance systems. The global IP cameras market is experiencing robust growth due to advancements in Artificial Intelligence (AI) and Machine Learning (ML) technologies, which enable real-time event detection. These technologies foster improved security and safety in various settings, including homes, roads, and retail outlets. By automating the analysis process, video analytics software contributes to the efficiency and accuracy of IP camera systems, making them an indispensable tool for modern security solutions.
The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 10 market companies, including 360 Vision Technology Ltd., Anviz Global Inc., CAMSTAR USA, Canon Inc., Cisco Systems Inc., Costar Technologies Inc., CP PLUS International, DDC Group, Delta Electronics Inc., D Link Corp., Guangzhou Juan Intelligent Joint Stock Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., i PRO Co. Ltd., Motorola Solutions Inc., Moxa Inc., Robert Bosch GmbH, Shenzhen Apexis Electronic Co. Ltd., Sony Group Corp., Dahua Technology Co. Ltd., and Zhejiang Uniview Technologies Co. Ltd.
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The market is thriving due to increased demand for advanced surveillance solutions driven by Internet of Things (IoT) integration. Sectors such as BFSI, Healthcare, Mining, Oil and Gas, and Automotive are adopting IP cameras for heightened security. Technological innovations like video analytics and artificial intelligence (AI) bolster surveillance capabilities. Projects like the Pegasus Project push the boundaries of IP camera functionalities. Offerings include hardware like infrared cameras and services, with centralized and distributed architectures for data management ensuring system efficiency.
The increasing demand for video surveillance systems is notably driving the market growth, although security concerns 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.
Increasing demand for video surveillance systems is notably driving the market growth. This surge is particularly evident in various industries, driven by the increasing need. Security has become paramount due to rising incidents of theft, vandalism, and terrorism. They offer superior features like high-definition video quality, remote accessibility, and advanced functionalities such as motion detection and facial recognition, making them highly appealing for surveillance applications. In sectors like BFSI, where security is crucial, the adoption of video surveillance systems is imperative to mitigate risks. Hotels and restaurants are also embracing these systems to bolster guest and employee safety and streamline operational processes, thus propelling market growth.
The rise of 5G technology is a key trend influencing the market growth. The development of 5G-enabled cameras is a major trend in the market. These transmit audio and video signals over 5th-generation wireless networks that are being gradually rolled out in several countries. There are only a handful of cameras on the market today. Consumers can expect much faster and higher quality video with a wider range of integrations and applications as video becomes more popular. With the latest Internet Protocol camera technology making it easier to see on the go, 5G cameras and mobile applications will likely become even more effective and intuitive. All these technological factors drive the growth of the market during the forecast period.
Security concerns associated with IP cameras are challenging the Internet Protocol Camera Market growth. They are vulnerable to hacking, which can lead to privacy and security breaches. Therefore, manufacturers must ensure that their products have robust security features to protect against cyber threats. Internet Protocol cameras are being installed in more and more public places. People's daily activities in such places are monitored without their consent, raising privacy concerns. Additionally, it is difficult to maintain a clear line between legitimate surveillance and intrusion. Video surveillance systems are used to prevent and detect crime, but their use can lead to privacy concerns. Public surveillance systems can cover private areas, such as homes and offices, without the owner's consent or knowledge, leading to an invasion of privacy.
Large-scale video surveillance by governments can also violate citizens' fundamental right to privacy. As a result, the line between legitimate surveillance and intrusion blurs. An important constitutionally protected right that is challenged by mass video surveillance is the right to anonymity. Large-scale video surveillance can also affect citizens' right to freedom of expression. Additionally, video surveillance systems installed in stores and streets can be abused for spy photography. Therefore, violating people's moral and constitutional rights is a major challenge to the growth of the Internet Protocol Camera Market.
The Internet Protocol (IP) Camera Market is experiencing significant growth driven by the widespread adoption of Internet protocol networks and the increasing demand for surveillance solutions in various sectors such as healthcare, commercial structures, and residential security. IP surveillance cameras, also known as CCTV cameras, offer advanced features such as video analytics and IoT integration, enabling efficient monitoring of outdoor conditions and enhancing energy efficiency. These leverage wired Ethernet and IEEE 802 standards for connectivity, with emerging technologies like HDBaseT gaining traction in the market. As metropolitan cities face challenges such as home burglaries and squatting, the demand for modern security systems equipped with smart IP cameras continues to rise, driving innovation and growth in the IP camera industry. This report extensively covers market segmentations by connectivity (centralized IP camera arrangement and decentralized IP camera arrangement) and geography (North America, Europe, APAC, South America, and MEA).
The market share growth by the centralized IP camera arrangement segment will be significant during the forecast period. Network cameras require a centralized video server. The cameras are networked so that recording is done locally or remotely on a common platform via Internet Protocol in a centralized Internet Protocol camera array. In a centralized Internet Protocol camera array, media recordings are stored on either network video recorders (NVRs) or digital video recorders. The centralized Internet Protocol camera location is advantageous for applications that require the recording device to be hidden or away from the camera. Suitable for camera platforms with multiple internet protocols.
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The centralized segment was valued at USD 3.80 billion in 2018. A centralized internet protocol camera offers more storage capacity than a distributed internet protocol camera because the centralized internet protocol camera is connected to a central storage system. The storage capacity of the central storage system can also be increased as needed. Therefore, the centralized segment array segment is expected to grow during the forecast period.
By Type
The Internet of Things (IoT) has led to the widespread use and Internet connections for video surveillance. IP surveillance cameras, including CCTV cameras and smart IP cameras, have become essential for security in various sectors. In healthcare, IP cameras enable video analytics for professionals, ensuring patient safety and hygiene. Transportation and logistics, mining, oil and gas, automotive, and smart city projects also utilize these for security and monitoring. Fixed cameras and pan-tilt-zoom cameras, along with infrared solutions, offer advanced security features against home burglaries, squatting, and unauthorized access in residential and metropolitan city applications. The services segment, including AI and IoT, offers advanced functionalities like video analytics. Key industries, such as military & defense and government facilities, also rely on these for security surveillance. The consolidated market for IP cameras includes hardware components like fixed cameras, pan-tilt-zoom cameras, and infrared cameras, as well as the digital system and internet network, making it a significant component of the security industry.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period.
Technavio's analysts have provided an extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
The market in the North American region is expected to grow significantly over the next few years. One of the major drivers of the market in North America is the increasing need for security and surveillance in various sectors such as commercial, industrial, and residential. With crime rates and security threats rising, businesses and individuals are investing in internet protocol cameras to remotely monitor their facilities and prevent incidents. Rising demand for smart homes and connected devices is also boosting the growth of the market in North America. The US government is focused on using surveillance cameras in urban areas to protect people in schools, parks, bridges, and streets. The rise of dome cameras, PTZ cameras, bullet cameras, box cameras, etc., for securing large-scale facilities such as parking lots, construction sites, airports, railroads, and schools has driven the growth of the market.
The market forecasting report includes the adoption lifecycle of the market research and growth, 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 market growth and trends strategies.
Global 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.
CAMSTAR USA: The company manufactures and designs professional video surveillance equipment. It also offers a 4MP fixed vandal dome IP camera, which has a 4-megapixel resolution and motion detection feature.
Market analysis and report of qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is experiencing significant growth, particularly in the Asia Pacific region, fueled by the widespread adoption of Close Circuit Television Cameras (CCTV) and the embrace of Internet of Things (IoT) technologies. Various sectors, including transportation, healthcare, government, mining, oil and gas, automotive, and smart city initiatives, are deploying these cameras for security surveillance. The integration of artificial intelligence and data analytics enhances surveillance capabilities, with countries like South Korea leading innovation, as seen in projects such as the Pegasus project. The market offers a range of hardware and services, including fixed, pan-tilt-zoom (PTZ), and infrared cameras, supported by centralized network servers and digital systems. With advancements in HD resolution, frame rates, and video compression, they serve diverse applications in commercial buildings and residential settings, leveraging features like remote focus lens and IoT-based functionalities such as face and body detection.
The electronic and semiconductor sector plays a crucial role in the development of advanced surveillance technologies, including Pan-tilt-zoom cameras used in the industry. These cameras, along with traditional mountable Wi-Fi cameras, are increasingly integrated with IoT systems for enhanced video monitoring, particularly in residential applications. They rely on robust internet networks and leverage hardware components optimized for AI and IoT functionalities. In addition to serving the commercial segment, such as the banking and financial sectors combating retail theft, they are widely adopted in military & defense and government facilities. With features like Pan-Tilt-Zoom (PTZ) and infrared solutions, they offer comprehensive video surveillance solutions for various segments, including the residential sector addressing concerns such as social distancing and urban population growth. Despite their benefits, challenges like high installation costs persist, prompting innovative solutions such as the AX PRO wireless alarm system and easy installation features. These advancements cater to the needs of homeowners and smartphone users while accommodating flexible installment policies.
Industry Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 26.14% |
Market growth 2024-2028 |
USD 24.61 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
20.36 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 39% |
Key countries |
US, UK, Canada, Japan, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
360 Vision Technology Ltd., Anviz Global Inc., CAMSTAR USA, Canon Inc., Cisco Systems Inc., Costar Technologies Inc., CP PLUS International, DDC Group, Delta Electronics Inc., D Link Corp., Guangzhou Juan Intelligent Joint Stock Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., i PRO Co. Ltd., Motorola Solutions Inc., Moxa Inc., Robert Bosch GmbH, Shenzhen Apexis Electronic Co. Ltd., Sony Group Corp., Dahua Technology Co. Ltd., and Zhejiang Uniview Technologies 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Connectivity
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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