The increasing number of smart cities, parking garages, bus stops, airport, and other transportation spaces are gaining momentum in terms of adoption of IP cameras. Additionally, financial institutions, banks, and multinational companies are driving growth of the market, owing to the ease in installation and configuration, and a continuous decline in the prices of these cameras. A recent business intelligence report from IndustryARC estimates that the global IP camera market value is expected to swell up to $27.1 billion by 2025, with the revenue growth at a CAGR of 15.34% during the forecast period 2019-2025.
The IndustryARC’s recently complied business intelligence report titled “IP Camera Market: By Product (Fixed Cameras, PTZ Cameras, Infrared (IR) Cameras); By Mounting (Wall mounts, Ceiling mounts, parapet mounts, Pole mounts); By Technology (DVR Technologies, PC Based DVR, Hardware based DVR); By Application (Residential, Commercial, Public/Government and others)- Forecast (2019-2025)” highlights that the growing government initiatives and projects related to smart and safe cities are offering ample growth opportunities. Moreover, the growing commercial buildings, small and medium enterprises are improving the economic conditions and amplifying the deployment of IP cameras in the market. And, the market is subjugated to grow at substantial growth in the future due to rising applications in the construction sector.
IP Camera Market: Leading Segments
Geographically, North America is observing constant development in the industrial, and commercial sector growing at a CAGR of 17.79% during the aforementioned forecast period. The region is highly efficient in technology adoption and the presence of large number of players in the market who employ IP cameras for various applications such as security and surveillance. The U.S IP camera market is the major contributor in the North American region due to increased demand from small installation and need for advanced workplace surveillance which simultaneously drives the IP camera market revenue. Furthermore, North America has observed a reduced crime rates due to increasing adoption of IP cameras for security purposes.
On the other hand, the key application pinpointed in the report is in retail stores and malls. Due to a huge rise in the construction sector the retail stores and malls are increasing in the developed countries and the IP camera’s application for security and surveillance is the most emerging segment in the IP camera market.. However, this application segment in the IP camera market is anticipated to grow at a CAGR of 15.71% during the aforesaid forecast period.
IP Camera Market: Market Trends and Growth Drivers
· Rise in the number of terrorist attacks, theft incidents in the financial institutions, and banks have increased the demand and supply of the IP cameras in the market. 24/7 monitoring and surveillance enables the security professionals to prevent any such criminal activities. This has propelled the demand for IP camera market.
· With digital electronics advancement, the recent cameras are well-equipped with high quality coupled with other benefits. As these cameras provide crisp resolution and detailed images. These key factors have replaced the analog cameras with the digital camera and is also one of the major driving factor for growth of the IP camera market.
· In the region like MENA, the government is particularly stringent about the security. The IP camera market is influenced by the governments’ stringent rules and the regulations. This already has a huge market in Abu Dhabi, Dubai, and Sharjah.
· APAC is an emerging region with the fastest growing construction industry. It is witnessing enormous amount of constructions of commercial and industrial building, hence the region is adopting the IP cameras for security and simultaneously letting the market demand grow.
IP Camera Market: Competitive Landscape
Some of the prominent key companies identified in the report are Avigilon Corporation, Axis communication AB, Bosch Security Systems Inc., Honeywell International Inc., Flir Systems, Hanzhou Hikvision Digital Technology Co., Ltd., Microsemi Corporation, and Panasonic Corporation.
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What can you expect from the report?
The IP camera market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Applications 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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