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The Global IP Camera Market size is expected to reach $23.4 billion by 2028, rising at a market growth of 13.7% CAGR during the forecast period
IP cameras are used in a variety of organisations to protect workers, assets, or information. These are also frequently used in both business and residential buildings. The electronics business is also being significantly impacted by the worldwide spread of COVID-19, which is changing customer preferences over time.
New York, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global IP Camera Market Size, Share & Industry Trends Analysis Report By Product Type, By Application, By Component, By Connection Type, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06374138/?utm_source=GNW
The variation in preferences, disposable income, and spending patterns has increased economic instability worldwide. In the market for internet protocol cameras, this has caused uncertainty on the demand side. The IP camera market is anticipated to grow at a high growth rate during the projected period.
The ongoing advancement of infrared cameras and the acceptance of IoT in video surveillance have increased the demand for IP camera systems. Residential security is one of the key concerns of homeowners due to an increase in squatting and home burglaries. The residential market is expected to increase strongly due to the growing number of smartphone users and the accessibility of installment-based security solution subscriptions.
Concerns about home security coupled with the availability of connected alert security services and cost-effective solutions are some of the key factors fueling the market growth. These cameras’ built-in video intelligence enables users to respond faster to any intrusions inside premises, the abandonment of strange objects, and loitering and trespassing by people and vehicles.
COVID-19 Impact Analysis
The industry is anticipated to rebound when the situation gets better because IP cameras and different video analytics software will be installed for security purposes in public areas. Due to supply chain disruptions, the availability of raw materials has decreased, including the delivery of IP camera hardware systems. The closure of factories has slowed production and research & development. The drop in hardware sales income will result in reduced R&D spending in 2021.
Market Growth Factors
Rise In Need of Safety in High-Risk Areas
Public safety is of top priority in the world. Public safety agencies are investing in numerous new technologies to ensure efficiency. This includes smart applications to securely connect radio networks to users carrying smartphones and other devices, video surveillance devices that can be worn to increase safety and accountability for officers and citizens as well as purpose-built mobile applications to improve the management of daily workflows.
Growth In the Transition from Analog Surveillance to Ip Cameras
Internet Protocol (IP) Surveillance is a digitalized and networked version of the CCTV system and is rapidly becoming the most flexible and future-proof option for security and surveillance systems. The IP Surveillance system is made up of two components, IP-based camera that records video content using a Network Video Recorder (NVR) and video surveillance platform that captures and distributes the video content through the network. IP cameras are preferred for large installation sites that already have a high bandwidth network installed.
Market Restraining Factors
Requisite Of High Bandwidth and Channel Partner Assistance & Association with Poe Switches
As the telecommunication standards change, IP surveillance system should at par; else it would create hurdles in the widespread adoption of this system. Current IP cameras support IEEE 802.3 but the latest wireless standard is IEEE802.11n. IP cameras do not support this new standard of the wireless communication system. This is a major problem faced by IP surveillance system. End users find it difficult to tune the system to new standards on a regular basis.
Components Outlook
Based on the Components, the market is segmented into hardware and services. Because manufacturers and service providers are responding to the market’s desire for better solutions, the service segment is expected to experience the highest CAGR during the forecast period. To meet the increasing demand for IP camera systems on the market, the manufacturers are diversifying their product lines.
Product Type Outlook
Based on the Product Type, the market is segmented into fixed, Pan-Tilt-Zoom (PTZ) and infrared. During the projection period, the Pan-Tilt-Zoom (PTZ) is anticipated to expand at a faster CAGR. PTZ enables the user to adjust the field of view as needed and can move between zero pan/tilt and 360-degree pan/180-degree tilt. To increase monitoring capabilities, PTZ cameras can be combined with stationary cameras.
Connection Type Outlook
Based on the Connection Type, the market is segmented into consolidated and distributed. Due to the fact that it uses a central management server that stores a master database, the consolidated product type is anticipated to garner the highest market share in 2021. For later access and analysis, the master database receives all configuration information for the cameras, NVRs, and DVRs that make up the system. It also receives all content. A distributed architecture also disperses the data throughout the system, typically close to where it is created or needed.
Application Outlook
Based on the Application, the market is segmented into residential, commercial and government. In 2021, residential applications showcased a substantial revenue share in the market. The rise of the industry is also being driven by the growing use of IoT in smart homes. Customers are moving away from traditional CCTV cameras and toward deploying IP cameras with new cutting-edge features to increase the security of their properties. Numerous benefits of these cutting-edge smart home security cameras encourage their installation in many households.
Regional Outlook
Based on region, the IP Camera Market is analysed in North America, Europe, Asia Pacific, and LAMEA. In 2021, the market is expected to be dominated by the Asia Pacific region because of the region’s growing network camera use and awareness. The region’s market growth is also continuing to be boosted by the effects of government laws and investments. The sector that rules the world has a number of important component suppliers.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Samsung Electronics Co., Ltd. is the major forerunner in the IP Camera Market. Companies such as Johnson Controls International PLC, Panasonic Corporation, Sony Corporation are some of the key innovators in IP Camera Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Avigilon Corporation (Motorola Solutions), Belkin International, Inc. (Hon Hai Precision Industry Co., Ltd.), Bosch Security Systems GmbH (Robert Bosch GmbH), D-Link Corporation, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International, Inc., Johnson Controls International PLC, Panasonic Corporation, Samsung Electronics Co., Ltd. (Samsung Group), and Sony Corporation.
Strategies Deployed in IP Camera Market
Oct-2022: Panasonic Connect North America added SMPTE2110 support and IP/networked capabilities to its professional PTZ and studio camera lineup. The enhancements aim to support more dynamic, multi-camera productions and allow studios to expand their connected workflows.
Sep-2022: Sony Electronics announced the ILME-FR7, an E-mount interchangeable lens camera to its Cinema Line. This camera has a full-frame image sensor and built-in pan/tilt/zoom (PTZ) functionality. It provides a cinematic look and operability that allowed Sony digital cameras to push the boundaries of the filmmaking industry. Additionally, it offers efficient multi-camera workflow support and versatile connectivity.
Sep-2022: Hikvision made enhancements to its Pro series PTZ Cameras. These additions include ColorVu technology that offers consistent brightness in images and full-color imaging as the camera zooms in and out. This also ensures vivid color and crystal-clear details for distant objects in all conditions and at all times.
Sep-2022: Avigilon Corporation’s parent company, Motorola Solutions launched Flex Camera. This camera provides ease of use and intelligence to organizations. Additionally, it helps security operations in detecting and analyze incidents in real-time for improved safety, efficiency, and security.
Aug-2022: Johnson Controls is taking over Vindex Systems, a system integrator providing intelligent business protection solutions. The acquisition aims to boost Johnson Controls’ portfolio of interconnected and innovative electronic security solutions created for protecting property, people, and assets.
Jul-2022: Hikvision introduced DeepinView bullet network cameras with TandemVu technology. The launch broadened the reach of this technology from PTZ units to bullet-styled models. These cameras provide various benefits including a 4K DarkFighter for superb image clarity, a Two-in-one design for cost savings, Innovative ’fusion light’ for enhanced security efficiency, a Window heater for reliable outdoor operations, and Switchable algorithms for varied security needs.
Jan-2022: Panasonic India, introduced a portfolio of unique 4K resolution USB Camera solutions for providing in-person video interactions experience and enhanced workplace communications. The portfolio comprises KX-VDW200SX, KX-VDW120SX, KX-VDW300SX, and KX-VDW500SX.
Nov-2021: Johnson Controls announced the launch of six new additions to the Cloudvue camera portfolio. These additions broadened its camera range and formed factors for customers to utilize the convenience and power of cloud video surveillance. These cameras simplified configuration and installation and are suitable for exterior environments where rugged cameras are required to withstand harsh environments and where interior applications demand an appropriate aesthetic.
Sep-2021: Johnson Controls unveiled Tyco Illustra Pro Gen4 2MP, 4MP and 8MP Edge-AI mini-domes. This suite of cameras offers the capability to respond to incidents faster to commercial and light commercial organizations.
Jul-2019: Honeywell launched the 30 Series IP Cameras, a portfolio of video cameras. These cameras reinforce building security and safety through secure channel encryption and advanced analytics.
Scope of the Study
Market Segments covered in the Report:
By Product Type
• Infrared
• Fixed
• Pan-Tilt-Zoom (PTZ)
By Application
• Commercial
• Government
• Residential
By Component
• Hardware
• Services
By Connection Type
• Consolidated
• Distributed
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Avigilon Corporation (Motorola Solutions)
• Belkin International, Inc. (Hon Hai Precision Industry Co., Ltd.)
• Bosch Security Systems GmbH (Robert Bosch GmbH)
• D-Link Corporation
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Honeywell International, Inc.
• Johnson Controls International PLC
• Panasonic Corporation
• Samsung Electronics Co., Ltd. (Samsung Group)
• Sony Corporation
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Read the full report: https://www.reportlinker.com/p06374138/?utm_source=GNW
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