Centralized connectivity in the IP camera market offer basic analytics, video encoding and event triggering functions
Sellbyville, DE -- (SBWIRE) -- 05/17/2019 -- 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.
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Internet of things has brought a revolution of sorts in the security & surveillance landscape globally. IP camera market, in this context, stands as a major beneficiary of this change. As per reliable estimates, in the year 2016, the global shipments for IP cameras surpassed 15 million units. Add to it, reliable sources affirm that in the year 2014, IP camera shipments in smart home exceeded 1.3 million units – data strongly attesting the role of IOT and connected infrastructure in the lucrative growth chart of IP camera market.
Reportedly, the smart home segment is anticipated to depict synonymous demand for networked cameras in the ensuing years with an estimated shipment of more than 20 million units by 2019. Having said this, the growth prospects of IP camera market from residential applications is quite vividly huge. In fact, as per a report compiled by Global Market Insights, Inc. IP camera industry from residential applications is estimated to register a CAGR of 25% over 2017-2024, driven by applications including the likes of home surveillance systems, access control, remote monitoring, intelligent building control, and HVAC management.
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The IP camera market has been segmented by product into Fixed, PTZ and Infrared systems. Compact design, electronic PTZ functions, built in IR sensors, and environmentally resistant structures are trends driving adoption of IP cameras over their analog counterparts. Deployment of a particular type of camera system depends upon the application need, lens type, lighting, cabling systems, power requirements and required resolution.
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 IP camera market.
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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. Vendors are investing in R&D to develop new technologies that make the solution versatile for diverse applications and environmental conditions.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.