IP Camera Market

Global IP Camera Market Size & Growth Report (2021 – 2026)

The global IP camera market is projected to hold a market share of US$ 20 Billion with a CAGR of 14% during the forecast period from a market value of US$ 8 Billion in 2018. 

IP camera stands for Internet Protocol Camera. It is a digital video camera which is mainly used for surveillance in many enterprises such as government facilities, military and defence, corporate workplaces, public sites and residents. IP camera helps provide 24 hours of security and its ability to work under harsh environmental conditions helps the market boost. The increased rate of crime in the world is helping the growth of the market as nowadays many citizens are willing to invest in an IP camera for advanced all day around protection for their homes.

Drivers:

The major driver for IP camera market is the increased demand in smart housing systems. The increased risk of crimes such as burglary and theft in both corporate and public sector is attracting customers to invest in IP cameras. Both developed and developing countries’ governments are investing in the market to provide maximum safety and security to its citizens and trying to curb the crime. IP camera’s advanced features such as its adaption to dark and light environments are driving the market. The manufactures interest in inventing specifically for both traffic monitoring and banks is helping drive the market.

Restraints:

The main restraint for the global IP camera market is its high cost for installation and high maintenance. IP cameras have a difficult configuration system which makes it difficult for the customers to use. The increased number of low cost and inferior quality IP cameras form local players is setting back the IP camera market.

 Recent Developments:

• Bosch Security Systems in February of 2017 has partnered with Sony Corporation to develop advanced security solutions with the help of Sony Corporation’s unquestionable skills in the modern camera technology.
• NTT East a leading Japanese telecom company partnered with Earth Eyes Corporation to build an AI security system which will bring in a new level of revolutionary change in the IP camera market.

Impact of COVID 19 on IP Camera Market:

The coronavirus pandemic has affected the price of the IP camera market. But this created an advantage for the market as it is made more affordable to many who were willing to invest in a good quality IP camera. Due to the pandemic, no business is allowed to run and everyone is asked to stay in quarantine, which increased the risk of burglary, hence many of the business owners are willingly investing in IP cameras. 

IP CAMERA MARKET REPORT COVERAGE:

IP Camera Market Segmentation:

IP Camera Market By Product Type:

The IP camera market by product type is segmented into Non Mechanical Pan Tilt Zoom (PTZ) Camera, Pan Tilt Zoom (PTZ) Dome Camera, Fixed Cameras, Fixed Dome Cameras, and Infrared Camera. The infrared camera is expected to have the largest market share of 30% by product type during the forecast period. This is due to the increased demand of for safety and security of employees, business and other government and public facilities. These cameras are mainly used in military and defence as well to alert the army if there has been an unauthorized action or entry. The manufactures of IP camera industry are working on prototypes for traffic monitoring and surveillance; this helps the government to monitor road safety and security both in the day and at night time. The Indian government has introduced infrared sensor cameras to enhance traffic security and monitor traffic volume on road in its capital state New Delhi with the help of Delhi Traffic Police department.  

IP Camera Market By Connection:

IP camera market by connection is segmented into centralized and decentralized. Decentralized connection systems are likely to record the most substantial share over the anticipated years due to the rising call for video surveillance in corporate and public places. Decentralized connection systems contain inbuilt storage features such as SD card, Hard Disk Drive (HDD), Flash Drives and Network Attached Storage (NAS), this not only is size friendly but is also cost efficient, the consumer does not have to buy an additional video recorder for the purpose. Decentralized IP cameras are flexible and can work under extreme and multi server environments. Many enterprises are propelling towards shifting to the decentralized IP camera for cost efficient video surveillance solutions.  

IP Camera Market By Application:

IP camera market by application is segmented into residential, commercial, public and government. The public and government sectors are expected to hold the largest market share by application. Public and government sector is further segmented into transportation, BFSI (banking, financial services and insurance), education and government facilities. Among these, banking, financial services and insurance sector is foreseen to develop at a CAGR of 15% and record the largest share over the envisioned period. The increased risk of bank robberies is demanding banking officials to invest in modern and innovative security service systems that not only provide recorded video footage to help identify the suspect but also alert the security if there has been unauthorized access to bank lockers. The manufacturing companies of IP cameras are working on inventing new and advanced IP cameras, especially for banks to improve security and safety. 

In addition to this, not only in banking services, but the government is taking initiative in implementing IP cameras in other residential and commercial places to ensure safety and security of citizens and other monumental properties such as museums.

Next in line is military and defence segment, due to increased global terrorism and attacks the government is investing in IP cameras attached to drones to protect both the army and citizens.

IP Camera Market By Region:

In 2018 North America had the largest market share of 35% but due to the increased demand for adopting modern security solutions, Asia Pacific is expected to project and expand at a CAGR of 13% during the forecast period. Countries such as India and Japan are major investors in IP surveillance cameras to reduce crime in the areas. These cameras have the ability identify an individual with the help their movement and body shape with 50 meters ranges, this encourages other industries in the region to invest more into the IP camera market, which creates a hike in the Asia Pacific IP camera market in the future.

Market Leader:

Bosch Security Systems located in the United States is expected to be the market leader of the IP camera market during the forecast period because the company has observed a drastic growth in its IP camera and had expanded accordingly in 2017.

Key Players:

Arecont Vision Costar LLC., Avigilon Corporation, Canon Inc. (Japan), Belkin International Inc. (United States), Bosch Security Systems (United States), Zhejiang Dahua Technology Co. Ltd. (China), D-Link Corporation (Japan), GeoVision Inc. (Japan), Hangzhou Hikvision Digital Technology Co. Ltd. (China), Honeywell International Inc. (United States), Guangzhou Juan Intelligent Joint Stock Co. Ltd (China), March Networks Corporation (Canada), MOBOTIX AG (Germany), Netgear Inc. (United States), Pelco by Schneider Electric (United States), Samsung Electronics Co. Ltd. (South Korea), Shenzhen Apexis Electronic Co. Ltd. (China), Shenzhen Wanscam Technology Co. Ltd (China), Sony Corporation (Japan), Vivotek Inc. (China), Axis Communications (Sweden), Panasonic i-PRO Sensing Solutions Co. Ltd. (United States), Techwin (South Korea), Z3 Technology LLC (United States), VideoIQ Inc. (United States), and Toshiba (Japan).