The global IP camera market is significantly growing at a CAGR of more than 7% during the forecast period. The emergence of thermal cameras and the penetration of IoT in video surveillance have resulted in a significant increase in the demand for internet protocol-based camera systems. The growing adoption of these cameras in commercial and residential buildings has propelled the market growth. There is a need for security with the growing trend of smart homes that are anticipated to drive the IP camera market during the forecast period. Video surveillance is important due to the increasing concern regarding security.
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The increasing number of smartphone users and the availability of installment policies for the security solutions are projecting to drive the market in the near future. The benefits of these cameras are intruder alarms, perimeter surveillance, access control, and remote video surveillance. The product releases and launches of innovative IP-based products along with ongoing research and development in networking technology are the strategic initiatives adopted by key market players in the market. The factors such as growing demand for modern security technologies in industrial facilities to ensure the safety and security of workers are expected to grow in the IP camera market during the forecast period.
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Easy installation, limitless storage capabilities, cost-effective and remote monitoring have propelled the adoption of cameras across different industry verticals. Enhancement in storage device capacities that include decentralized storage solid-state devices, adoption of advanced coding standards, and server virtualization are boosting the growth of the market during the forecast period. The users can view images and videos by a computer connected to the internet and within a local network from anywhere across the globe. These systems offer a large degree of scalability and flexibility as compared to analog closed-circuit CCTV cameras.
Additionally, an increase in demand for infrared solutions in the various industrial sectors that include government facilities, BFSI, military, and defense is contributing to market growth. The infrared cameras are largely used for improving the security and safety of residential, business and public facilities in low visibility conditions. It allows governmental departments that include traffic & surveillance units to manage road security at nighttime. Various market players in the market are engaged in developing an infrared solution that is designed for the application of traffic monitoring and surveillance. For instance, the FLIR system is providing a large range of thermal cameras with tactical & law enforcement systems, traffic monitoring system and traffic detection systems.
Global IP Camera Market Segmentation
By Product
- Fixed Focus Cameras
- Manual Variable Focus Cameras
- Motorized Cameras
By Connection
By Application
- Residential
- Commercial
- Industrial
- Transportation
- Government
- Public Places
- Other (Critical Infrastructure)
- (This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
