IP Camera Market Size By Product (Fixed, PTZ, Infrared), By Connection (Centralized, Decentralized), By Application (Residential [Home Security, Smart Home], Commercial [Retail, Industrial, Healthcare, Real Estate], Public/Government [Transportation, BFSI, Education, Government Facilities]), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Russia, China, India, Japan, South Korea, Taiwan, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share & Forecast, 2019 - 2025IP Camera Market is expected to exceed USD 20 billion by 2025. Rise in the demand for modern security solutions to enhance road security and city surveillance is driving the adoption of network camera technologies. Several government administrations are incorporating surveillance solutions for the safety of streets. Countries including China and India are continuously engaged in widening their CCTV network coverage to reduce the increasing rate of crimes. For instance, in October 2018, the Government of India declared its plans to widen its CCTV scope by adding 5,000 cameras to the existing network in Mumbai. The state government reported that the integration of security cameras played a major role in curbing the crime rate in the city.
Increasing adoption of infrared cameras to record the footage in low light and night conditions will drive the IP camera market growth. Infrared solutions are being widely used in city surveillance and traffic monitoring at nighttime. Police authorities are adopting these solutions to secure & monitor the streets and reduce the number of accidents or crimes. Additionally, the manufacturers are developing specific solutions that are specifically developed to cater to the government sectors. The Singapore Police Department is using high-tech network cameras for helping them to fight crimes. Moreover, the government is planning to install more secured cameras that will cover multi-stored carparks and 10,000 Housing and Development Board (HDB) blocks across the country.
Rapid increase in thefts & home burglaries is encouraging the adoption of residential security cameras, thereby positively impacting the IP camera market growth. Israel, Australia, and New Zealand are among the top countries with increasing home burglaries. The government is taking several steps to curb the number of thefts in the country. Moreover, the increase in the adoption of smart city development initiative in several countries including China, India, Brazil, and the U.S. is also a major factor propelling the adoption of IP camera technologies in the residential segment. These smart cities are being incorporated with intelligent solutions for improving the security, safety, and convenience of citizens.
The Asia Pacific IP camera market is anticipated to witness high growth over the coming years owing to the increase in investment by government bodies in infrastructure development. Increase in Foreign Direct Investment (FDI) in the construction sector is driving infrastructure development in India. According to the Department of Industrial Policy and Promotion (DIPP), FDI in Construction Development Sector stood at around USD 25 billion during the period 2000–2019. This rapid increase in infrastructure development is encouraging the adoption of intelligent technologies, driving the adoption of modern security surveillance solutions.
The key players operating in the IP camera market are Canon Inc., Shenzhen Apexis Electronic Co., Ltd., Avigilon, Bosch Security Systems, Dahua Technology, March Networks, Pelco by Schneider Electric, Tyco International, VideoIQ Inc., Hangzhou Hikvision Digital Technology Co., Ltd., D-Link Corporation, GeoVision, Inc., Honeywell International, Inc., and MOBOTIX AG. The players are engaged in mergers & acquisitions to strengthen their business presence, product offerings, and global expansion. For instance, in February 2015, Canon Inc. announced the acquisition of Axis Communications AB in a deal worth USD 2.8 billion.
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