The IP camera market is forecast to exceed $20 billion by 2024. The rise in demand for modern security technologies in industrial facilities to ensure the safety & security of workers will drive the market demand.
The global IP camera market is marked by trends such as need for high resolution, government investments to improve security infrastructure, reduction in total cost of ownership and rise in demand from non-security applications such as smart home devices.
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The emergence of thermal cameras and the penetration of IoT in video surveillance have led to a steep rise in the demand for Internet Protocol (IP)-based camera systems. The increased adoption of these cameras in commercial buildings and the need for security in residential applications coupled with the rising trend of smart homes are expected to drive the IP camera market over the coming years. Residential security is a major concern among homeowners owing to the escalating rate of home burglary and squatting. The growing number of smartphone users and the availability of attractive installment policies for security solutions are driving the residential market. The key benefits of these cameras are remote video surveillance, intruder alarms, access control, and perimeter surveillance. With the growth in fast pace living within cities and the aging world population, surveillance at home has become ubiquitous in ensuring comfort and safety.
The growth in global IP Cameras market market is also influenced by the presence of major players such as Panasonic, Lorex, CISCO, Aztech, VIVOTEK, IQinVision, GE, Sony, Canon, Hikvision Digital Technology, Arecont Vision, D-Link, SAMSUNG, Brickcom, Axis Communications, Smartwares Safety & Lighting, Honeywell, ACTI, Zh, Daycare Surveillance Systems, Pelco Security Cameras, Bosch
Most important types of IP Cameras market products covered in this report are: Wired, Wireless
Most widely used downstream fields of IP Cameras market market covered in this report are: Industrial Enterprise, Intelligent Community, Intelligent Building, Others
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Geographically, the IP Cameras market market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
The Asia Pacific market will expand at a CAGR of 13% of the coming years owing to the increased adoption of modern security technologies for various applications such as home security, traffic monitoring, and city surveillance. Countries including India, Japan, and China are the major economies investing highly to incorporate surveillance cameras to curb the increasing crime rates. For instance, China Police has started installing new gait recognition surveillance technology that will recognize people by their walking style. The technology will help the police officials to identify individuals based on their body shape and movement from a distance of up to 50 meters. These advanced AI-based security solutions are helping the government officials to improve their surveillance operations.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and grades.
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The IP camera market is forecast to exceed $20 billion by 2024.
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