As per the market outlook foreseen by the IndustryARC’s business intelligence report titled “IP Camera Market : By Product (Fixed Cameras, PTZ Cameras, Infrared (IR) Cameras); By Mounting (Wall mounts, Ceiling mounts, parapet mounts, Pole mounts); By Technology (DVR Technologies, PC Based DVR, Hardware based DVR); By Application (Residential, Commercial, Public/Government and others)- Forecast(2018-2023),” the market is forecast to expand its size universally owing to government regulations determining the installation of monitoring devices in public, private, and governmental spaces.
IP Cameras are basically network-based cameras employed for surveillance. It has established an immense scope of applications owing to the increasing number of threats on life and entities in recent years. It is majorly applied in residential, commercial spaces, and public and government institutions as well as schools and colleges. The affluence of surveillance gadgets market can be indicated with the fact that Google has acquired Nest Labs for a remarkable amount of $3.2 billion to extend its smart home market product portfolio.
Browse 151 slides and an in-depth TOC on “IP Camera Market (2018 - 2023)”
Global IP Camera Market-Disruptive Trends:
Smart home category endures relishing enviable growth. As per an online article by Forbes, smart-home related products exceeded $48.5 billion in 2018, surpassing the preceding year with an astonishing growth rate of 38.3%. Owing to the fact that a good amount of such enormous revenue is being generated due to the installation of home and business security cameras, the IP camera market is all set to divert a considerable amount of profits to its own domain.
School security scenario in the United States is reasonably paced up after the incidents of violence in recent years. 94 gun violence in K-12 were recorded in 2018 and according to the National Center for Education Statistics, there are 130,000 K-12 schools in the United States. Owing to such incidents, certain government regulations have enforced the installation of security cameras in schools and other educational institutions, pushing the school security camera market to $1.56 billion. Tracing such developments, the IP camera market is poised to expand its demand by exploiting such trends as potential opportunities.
By 2021, China is estimated to install a total of 570 million public surveillance smart cameras. This is an objective move to scan civic places and identify fugitives and also to track behavior to maintain a social credit system. Other prominent areas of application to disable any security breach are industrial sites, retail outlets, transportation hubs, and almost all the infrastructures and sites of significance.
Better image quality, infinite storage capacity, remote control access, and non-static physicality are some of the traits aiding the diversion of consumer traffic from CCTV camera towards IP Camera market. Governments, universally, have been deepening the penetration towards surveillance to disable any sort of security breach, counter-violence and detect threats at its earliest stage to evade it. Digital data in a figure of images and videos are the main objectives of effective surveillance and the means to meet them efficiently are IP Cameras.
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