The global IP camera market size is expected to reach USD 32.63 billion by 2030, growing at a CAGR of 14.1% over the forecast period, according to a new study conducted by Grand View Research, Inc. The demand for internet protocol (IP)-based camera systems increases due to the constant development of infrared cameras and the adoption of IoT in video surveillance. With an increasing number of home burglaries and squatting, residential security is one of the top concerns of homeowners. The rising smartphone user base and the availability of installment-based security solution subscriptions promise robust growth in the residential market.
Home security concerns are growing along with the connected ability to alert security services, and the comparatively low cost of home security continues to impact the market's growth positively. These cameras help users respond immediately to any incursions inside buildings, abandonment of suspicious materials, and loitering & trespassing by persons and vehicles, as it also has built-in video intelligence.
IP cameras protect personnel, property, or information as they are employed in various organizations. These are also widely deployed in commercial and residential properties. The spread of COVID-19 globally continues to have a significant impact on the electronics industry as well, resulting in changes in consumer preference over time. The changes in preferences, disposable income, and purchasing habits have added volatility in the global economy. This has led to uncertainty on the demand side in the internet protocol camera market.
Asia Pacific is anticipated to dominate the global market in 2021 due to increasing awareness and adoption rate of network cameras. The impact of government legislation and investments also continues to boost the market growth in the region. There are several significant components provider in the area which dominates globally. For instance, in 2019, the Chinese police started the installation of new surveillance technology that helps the local authority identify potential suspects by their body language, and demeanor. The technology used by the Chinese police identifies individuals based on their body shape and movement from around a 50-meter distance. Government officials use advanced technology such as AI-based security solutions that help them improve their surveillance operations.
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The hardware component has the largest market share in the IP camera industry owing to the technological advancements that make the surveillance camera programmable to features such as zooming in on scam items to identify harmful equipment
The infrared camera type of product is expected to address the highest market revenue by the end of 2030
The distributed connection type is anticipated to attain a higher CAGR during the forecast period due to its several benefits. This system has the data dispersed throughout, usually close to where it is produced or used
North America is the leading region in the IP camera industry as there is a rising demand for complex workplace surveillance systems and modest installation, which simultaneously fuels demand for the IP camera industry
Grand View Research has segmented the global IP camera market based on component, product type, connection type, application, and region:
Internet Protocol Camera Component Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)
Internet Protocol Camera Product Type Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)
Internet Protocol Camera Connection Type Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)
Internet Protocol Camera Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)
Internet Protocol Camera Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)
Middle East and Africa
List of Key Players in the Internet Protocol (IP) Camera Market
Arecont Vision Costar LLC
Belkin International Inc.
Bosch Security Systems GmbH
EOS Digital Services
Hangzhou Hikvision Digital Technology Co. Ltd.
Honeywell International Inc.
Samsung Electronics Co. Ltd.
Schneider Electric SE
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