Increasing infrastructure development projects and need for security in residential applications is expected to drive IP camera market over the forecast period.
Sellbyville, DE -- (SBWIRE) -- 02/12/2019 -- 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. The growing demand for these systems in non-security applications such as integration with access control systems in smart home automation, e-Point of Sale (POS) terminals, Automatic Number-Plate Recognition (ANPR) are poised to offer additional opportunities for the network camera market.
Moreover, other factors such as improved sensor availability, new video analytics capabilities, wider adoption of thermal imaging, mobile access, intelligent building control, 360-degree vision and de-warping are contributing immensely towards penetration of the network camera market.
These systems have direct connectivity to the internet, therefore, concern among the public regarding data security and privacy could negatively impact IP camera market growth. In addition, these surveillance market solutions are not only expensive, but also pose risk of being vulnerable to destruction and vandalism, thereby hindering growth in developing regions.
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The growing number of players in the network camera market and availability of low-cost manufacturing has been fueling the growth across the globe. Global terrorist attacks in recent years have highlighted the need for governments to pay more attention to public security. In addition, the dropping IP camera market price trend, has helped shorten the gap with analog systems.
Technological proliferation, ubiquity of internet connectivity and the demand for remote monitoring are expected to drive IP camera market growth over the forecast period. Advancement in technology such as 4K resolution, edge-based video analytics and penetration of H.265 high-efficiency video encoding is also poised to stimulate demand.
Centralized connectivity in the IP camera market offer basic analytics, video encoding and event triggering functions. Processing functions are carried by the central computer that runs on licensed software. Such solutions are primarily useful for the institutional setting and places where there is a dedicated central monitoring system.
However, decentralized connectivity solutions do not require dedicated software and can run individually with built in storage, with the segment expected to grow at a CAGR of over 20%. Decentralized IP cameras are more expensive than centralized solutions, however offer higher flexibility in terms of operation and storage.
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China IP camera market is expected to witness sharp growth due to the presence of a large number of market players offering low cost solutions in the region. Favorable government initiatives on city surveillance, smart city development and penetration of IoT devices are also expected to fuel the demand.
Features such as remote monitoring, live video feed on the mobile, single Power over Ethernet (PoE) connectivity, HD resolution and mobile access are driving demand for such solutions in residential applications. Ease of access, remote operation, scalability and flexibility to add more components are some of the key benefits of IP cameras solutions. 4K video surveillance, HD and megapixel cameras are gaining increased penetration across industry verticals.
Key players in the IP camera market include Axis Communications, Bosch Security Systems, Samsung Techwin, Sony Professional, Hikvision Digital Technology, Dahua Technology and Panasonic Security System.