IP Camera Market to Cross USD 20 Bn by 2025: Global Market Insights, Inc.
North America IP camera market in 2018 accounted for around 35% of the industry share and is anticipated to dominate throughout the forecast period owing to rising digitization and industrialization.
SELBYVILLE, Del., July 15, 2019 (Newswire.com) - The IP camera market shipments are predicted to witness gains at more than 20% to surpass 100 million units by 2025, according to a 2019 Global Market Insights, Inc. report. The rise in demand for modern security technologies in industrial facilities to ensure the safety & security of workers will drive the market demand.
The increasing adoption of PTZ cameras for 360o visibility & security of large facilities is augmenting the IP camera market growth. These solutions are being widely adopted for outdoor applications such as garages, parking lots, construction sites, airports, railways, and bus stands. They allow operators to monitor the facility by capturing the footage at multiple angles or directions, enhancing the security & safety of the premises. Major advantages such as ease in installation, high-quality & tamper resistant image production, and wide coverage area are propelling the demand for PTZ solutions in the IP camera market. Manufacturers are engaged in providing infrared technology in PTZ cameras for enhancing the image quality in different light conditions.
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With the increasing adoption of centralized security solutions in large enterprises, the IP camera market is expected to witness a high growth over the coming years. These solutions are being widely installed in facilities with multi IP camera platforms. They store recorded data on a separate Digital Video Recorder (DVR) or Network Video Recorder (NVR) devices, making it more expensive in comparison to the decentralized technologies. However, centralized solutions allow businesses to manage and store the recorded data from all the installed cameras in a single platform, increasing accessibility & flexibility in data management and analysis. Additionally, the increased adoption of centralized systems for home surveillance applications is also a major factor augmenting the market growth.
Increasing crime rates, thefts, and burglaries in several countries including Uganda, Sweden, Italy, and Tanzania are encouraging the adoption of home security solutions, propelling the IP camera market demand. The residential sectors are investing highly to integrate advanced security systems in their homes. Countries including the U.S. and China are the major economies with high installation of network cameras.
Browse key industry insights spread across 400 pages with 629 market data tables & 36 figures & charts from the report, “IP Camera Market Size By Product (Fixed, PTZ, Infrared), By Connection (Centralized, Decentralized), By Application (Residential [Home Security, Smart Home], Commercial [Retail, Industrial, Healthcare, Real Estate], Public/Government [Transportation, BFSI, Education, Government Facilities]), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Russia, China, India, Japan, South Korea, Taiwan, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
In 2018, the North America IP camera market accounted for around 35% of the industry share and with the rising digitization and industrialization is witnessing substantial growth. With the ongoing expansion of several SMEs and large enterprises in the U.S., the demand for security solutions is growing rapidly. A large number of retail players, such as Walmart, Costco Corporation, and Kroger Company are expanding their business establishments in the region leading to increased installation of surveillance solutions. Additionally, these retail businesses are continuously engaged in developing automated retail outlets, propelling the adoption of modern network camera solutions.
The major players operating in the IP camera market are Tyco International, VideoIQ Inc., Pelco by Schneider Electric, Panasonic Corporation, March Networks, Guangzhou Juan Intelligent, Dahua Technology, Hangzhou Hikvision Digital Technology Co., Ltd., Bosch Security Systems, Axis Communications AB, Avigilon, and Shenzhen Apexis Electronic Co., Ltd. The manufacturers in the market are introducing innovative solutions to attract a large customer base.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Source: Global Market Insights, Inc.