IP Camera Global Market Report 2024

The ip camera market size has grown rapidly in recent years. It will grow from $12.43 billion in 2023 to $14.29 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth observed in the historical period can be attributed to security concerns, cost reductions, integration with IoT, the demand for remote monitoring, and regulatory compliance efforts.

The ip camera market size is expected to see rapid growth in the next few years. It will grow to $25.47 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The anticipated growth in the forecast period can be attributed to the expansion of high-speed internet infrastructure, the implementation of smart city initiatives, the adoption of cloud-based solutions, the rise of edge computing in video analytics, and an increased demand for 4K and beyond resolution. Major trends expected in the forecast period include a growing demand for AI-powered analytics, the rapid adoption of 4K and Ultra HD cameras, integration with IoT and smart home systems, an increased emphasis on cybersecurity, and a shift towards cloud-based solutions.

The anticipated growth of the IP camera market is attributed to the increasing initiatives by governments in smart city projects. Smart cities leverage information and communication technology (ICT) to enhance operational efficiency and provide improved infrastructure to residents. In smart city implementations, IP cameras play a crucial role in enhancing traffic management and urban mobility, thereby increasing safety and usability of streets. For example, as of January 2023, Digital Dubai, an online platform in the UAE focused on enhancing governmental work, highlighted Dubai's Smart Dubai 2021 initiative. This initiative aims to fully integrate ICT with essential resources and infrastructure to enhance resilience, availability, and efficiency in the city. The global surge in government initiatives for smart city projects underscores the driving force behind the growth of the IP camera market.

The growth of criminal activities is identified as another significant driver for the IP camera market. Criminal activities involve actions that violate criminal law, comprising both physical behavior and mental elements to execute unlawful acts. IP cameras are instrumental in providing real-time surveillance in areas prone to criminal activities, aiding in crime prevention and solving criminal cases. For instance, data from the New York Police Department in November 2022 revealed a 16.5% increase in major felony crimes compared to October 2021, leading to 4,367 arrests for complaints. The use of IP cameras for surveillance is crucial in monitoring and responding to such criminal activities, indicating a substantial driver for the growth of the IP camera market.

Technological advancements represent a prominent trend in the IP camera market, with major companies focusing on innovating new technologies to maintain their market position. In July 2022, Hangzhou Hikvision Digital Technology Co., Ltd., a China-based manufacturer of video surveillance equipment, introduced its DeepinView bullet network cameras with TandemVu technology. These cameras provide simultaneous monitoring of broad vistas and minute details, enhancing spatial awareness and security. The integration of advanced technologies, such as TandemVu, demonstrates the industry trend towards continuous innovation and technological progress in IP cameras.

Major companies in the IP camera market are also concentrating on the development of advanced products, such as systems on chipsets (SoC), to gain a competitive advantage. Systems on chip (SoC) integrate all components of a computer or electronic system into a single chip. For example, in March 2023, Deeplet Technology Corp, a Taiwan-based provider of surveillance innovation, launched the Brivista series of IP cameras based on Novatek's chipset. These cameras feature vandal-proof, waterproof, and long-range IR capabilities, designed to comply with Onvif Profile S/T for real-time video freeze and snapshots. The incorporation of SoC technology, such as Novatek's chipset, showcases the commitment of major companies to deliver technologically advanced products in the IP camera market.

In May 2022, Motorola Solutions, a US-based provider of telecommunications equipment, acquired Videotec, an Italy-based manufacturer of video security camera solutions, including IP cameras. This acquisition aims to expand the manufacturing and design capabilities of Motorola Solutions' Pelco brand of video-security cameras, highlighting the strategic importance of partnerships and acquisitions in the IP camera market.

Major companies operating in the ip camera market report are Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Panasonic Holdings Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Avigilon Corporation, Belkin International Inc., D-Link Corporation, Bosch Sicherheitssysteme GmbH, Johnson Controls, Mobotix, AV Costar, GeoVision Inc., IDIS. Ltd., Pelco, 3DEYE Inc., Arecont Vision Costar LLC., Longse Technology Co. Ltd., NEXCOM International Co. Ltd., Visionhitech Co. Ltd., Zhuhai Telehof Electrics Co. Ltd., Shenzhen Neo Electronics Co. LTD, Shenzhen Saint Optoelectronic Co. Ltd., Shenzhen SFCAM Technology Co. Ltd., Adiance, Ezviz, Axis, Hanwha Techwin, Hikvision, Digital Watchdog.

Asia-Pacific was the largest region in the IP camera market in 2023. The regions covered in the ip camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ip camera market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main product categories of IP cameras include non-mechanical pan-tilt-zoom (PTZ) cameras, pan-tilt-zoom (PTZ) dome cameras, fixed cameras, fixed dome cameras, and infrared cameras. A non-mechanical PTZ camera is equipped with mechanical components that enable it to move horizontally, tilt vertically, and zoom in and out of a scene. The components involved in IP cameras include hardware and services, and the connection methods can encompass both centralization and decentralization. IP cameras find applications in various sectors such as banking and finance, government, commercial trade, and education.

The IP camera market research report is one of a series of new reports that provides IP camera market statistics, including IP camera industry global market size, regional shares, competitors with an IP camera market share, detailed IP camera market segments, market trends and opportunities, and any further data you may need to thrive in the IP camera industry. This IP camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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