This report describes and explains the wireless security cameras market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global wireless security cameras market reached a value of nearly $6.1 billion in 2023, having grown at a compound annual growth rate (CAGR) of 8.6% since 2018. The market is expected to grow from $6.1 billion in 2023 to $11.6 billion in 2028 at a rate of 13.9%. The market is then expected to grow at a CAGR of 15.4% from 2028 and reach $23.7 billion in 2033.
Growth in the historic period resulted from rapid urbanization, increasing disposable income, increased adoption of cloud services and increasing government initiatives for smart city initiatives. Factors that negatively affected stringent regulations.
Going forward, strong economic growth, increasing criminal rates, increasing adoption of smart devices and increasing number of IoT connections will drive the growth. Factor that high cost of raw materials.
The wireless security cameras market is segmented by components into hardware, software and video surveillance as a service (VSaaS). The hardware market was the largest segment of the wireless security cameras market segmented by components, accounting for 63.6% or $7 billion of the total in 2023. Going forward, the software segment is expected to be the fastest growing segment in the wireless security cameras market segmented by components, at a CAGR of 16% during 2023-2028.
The wireless security cameras market is segmented by type into dome camera, bullet camera, PTZ camera (pan-tilt-zoom camera), box camera and other types. The dome camera market was the largest segment of the wireless security cameras market segmented by type, accounting for 40.9% or $2.5 billion of the total in 2023. Going forward, the PTZ camera (pan-tilt-zoom camera) segment is expected to be the fastest growing segment in the wireless security cameras market segmented by type, at a CAGR of 18.2% during 2023-2028.
The wireless security cameras market is segmented by camera technology into digital, IP or network, analog or direct. The digital market was the largest segment of the wireless security cameras market segmented by camera technology, accounting for 60.9% or $ 3.7 billion of the total in 2023. Going forward, the IP or network segment is expected to be the fastest growing segment in the wireless security cameras market segmented by camera technology, at a CAGR of 14.5% during 2023-2028.
The wireless security cameras market is segmented by industry verticals into residential, commercial, education, banking, financial services, and insurance (BFSI), healthcare, manufacturing and other industry verticals. The residential market was the largest segment of the wireless security cameras market segmented by industry verticals, accounting for 31.8% or $1.9 billion of the total in 2023. Going forward, the healthcare segment is expected to be the fastest growing segment in the wireless security cameras market segmented by industry verticals, at a CAGR of 17.4% during 2023-2028.
The wireless security cameras market is segmented by applications into home surveillance, asset monitoring, public safety and surveillance, educational institutions, security and others applications. The home surveillance market was the largest segment of the wireless security cameras market segmented by applications, accounting for 31.6% or $1.9 billion of the total in 2023. Going forward, the asset monitoring segment is expected to be the fastest growing segment in the wireless security cameras market segmented by applications, at a CAGR of 15.9% during 2023-2028.
North America was the largest region in the wireless security cameras market, accounting for 37.1% or $2.2 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the wireless security cameras market will be Asia Pacific and South America where growth will be at CAGRs of 16.1% and 15.1% respectively. These will be followed by Eastern Europe and Western Europe where the markets are expected to grow at CAGRs of 15% and 13.2% respectively.
The global wireless security cameras market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 50.3% of the total market in 2022. Hangzhou Hikvision Digital Technology Co. Ltd. was the largest competitor with a 16.1% share of the market, followed by Vivotek Inc with 10.7%, Zhejiang Dahua Technology Co., Ltd. with 6.8%, Hanwha Vision with 4.3%, Axis Camera with 3.3%, IDIS with 2.5%, Teledyne FLIR LLC with 2.3%, Robert Bosch GmbH with 1.5%, Cisco Systems Inc. with 1.4% and Honeywell International Inc. with 1.4%.
The top opportunities in the wireless security cameras market segmented by components will arise in the hardware segment, which will gain $3.2 billion of global annual sales by 2028. The top opportunities in the wireless security cameras market segmented by type will arise in the dome camera segment, which will gain $1.9 billion of global annual sales by 2028. The top opportunities in the wireless security cameras market segmented by camera technology will arise in the digital segment, which will gain $3.4 billion of global annual sales by 2028. The top opportunities in the wireless security cameras market segmented by applications will arise in the asset monitoring segment, which will gain $2 billion of global annual sales by 2028. The top opportunities in the wireless security cameras market segmented by industry verticals will arise in the residential segment, which will gain $1.7 billion of global annual sales by 2028. The wireless security cameras market size will gain the most in the USA at $1.6 billion.
Market-trend-based strategies for the wireless security cameras market include introduction of innovative surveillance cameras addressing specific market needs, development of 4K Wi-Fi security cameras, introduction of AI-based smart security cameras, focus on compact wireless cameras for a wide range of applications and strategic partnerships among market players to drive use of new technologies.
Player-adopted strategies in the wireless security cameras market include focus on launching innovative solutions to provide solutions and products with the latest upgrades and the highest level of security to their customers, focus on providing after-sales services to retain their customers and attract new customers to their products and focus on innovations by providing new services and products that are different from what their competitors offer to gain a competitive advantage.
To take advantage of the opportunities, the analyst recommends the wireless security cameras companies to focus on innovative surveillance cameras with advanced features, focus on 4k wi-fi security cameras for enhanced surveillance, focus on ai-powered smart security cameras with advanced features, focus on the software segment in the wireless security cameras market, focus on PTZ cameras, focus on IP or network cameras for market growth, focus on video surveillance as a service (VsaaS), expand in emerging markets, focus on diversifying distribution channels, focus on strategic partnerships, provide competitively priced offerings, focus on strategic pricing strategies for market leadership, participate in trade shows and events, continue to use B2B promotions, focus on digital engagement for enhanced market visibility, prioritize technical webinars for thought leadership, focus on asset monitoring segment for market growth and focus on commercial and BFSI segments.
The global wireless security cameras market reached a value of nearly $6.1 billion in 2023, having grown at a compound annual growth rate (CAGR) of 8.6% since 2018. The market is expected to grow from $6.1 billion in 2023 to $11.6 billion in 2028 at a rate of 13.9%. The market is then expected to grow at a CAGR of 15.4% from 2028 and reach $23.7 billion in 2033.
Growth in the historic period resulted from rapid urbanization, increasing disposable income, increased adoption of cloud services and increasing government initiatives for smart city initiatives. Factors that negatively affected stringent regulations.
Going forward, strong economic growth, increasing criminal rates, increasing adoption of smart devices and increasing number of IoT connections will drive the growth. Factor that high cost of raw materials.
The wireless security cameras market is segmented by components into hardware, software and video surveillance as a service (VSaaS). The hardware market was the largest segment of the wireless security cameras market segmented by components, accounting for 63.6% or $7 billion of the total in 2023. Going forward, the software segment is expected to be the fastest growing segment in the wireless security cameras market segmented by components, at a CAGR of 16% during 2023-2028.
The wireless security cameras market is segmented by type into dome camera, bullet camera, PTZ camera (pan-tilt-zoom camera), box camera and other types. The dome camera market was the largest segment of the wireless security cameras market segmented by type, accounting for 40.9% or $2.5 billion of the total in 2023. Going forward, the PTZ camera (pan-tilt-zoom camera) segment is expected to be the fastest growing segment in the wireless security cameras market segmented by type, at a CAGR of 18.2% during 2023-2028.
The wireless security cameras market is segmented by camera technology into digital, IP or network, analog or direct. The digital market was the largest segment of the wireless security cameras market segmented by camera technology, accounting for 60.9% or $ 3.7 billion of the total in 2023. Going forward, the IP or network segment is expected to be the fastest growing segment in the wireless security cameras market segmented by camera technology, at a CAGR of 14.5% during 2023-2028.
The wireless security cameras market is segmented by industry verticals into residential, commercial, education, banking, financial services, and insurance (BFSI), healthcare, manufacturing and other industry verticals. The residential market was the largest segment of the wireless security cameras market segmented by industry verticals, accounting for 31.8% or $1.9 billion of the total in 2023. Going forward, the healthcare segment is expected to be the fastest growing segment in the wireless security cameras market segmented by industry verticals, at a CAGR of 17.4% during 2023-2028.
The wireless security cameras market is segmented by applications into home surveillance, asset monitoring, public safety and surveillance, educational institutions, security and others applications. The home surveillance market was the largest segment of the wireless security cameras market segmented by applications, accounting for 31.6% or $1.9 billion of the total in 2023. Going forward, the asset monitoring segment is expected to be the fastest growing segment in the wireless security cameras market segmented by applications, at a CAGR of 15.9% during 2023-2028.
North America was the largest region in the wireless security cameras market, accounting for 37.1% or $2.2 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the wireless security cameras market will be Asia Pacific and South America where growth will be at CAGRs of 16.1% and 15.1% respectively. These will be followed by Eastern Europe and Western Europe where the markets are expected to grow at CAGRs of 15% and 13.2% respectively.
The global wireless security cameras market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 50.3% of the total market in 2022. Hangzhou Hikvision Digital Technology Co. Ltd. was the largest competitor with a 16.1% share of the market, followed by Vivotek Inc with 10.7%, Zhejiang Dahua Technology Co., Ltd. with 6.8%, Hanwha Vision with 4.3%, Axis Camera with 3.3%, IDIS with 2.5%, Teledyne FLIR LLC with 2.3%, Robert Bosch GmbH with 1.5%, Cisco Systems Inc. with 1.4% and Honeywell International Inc. with 1.4%.
The top opportunities in the wireless security cameras market segmented by components will arise in the hardware segment, which will gain $3.2 billion of global annual sales by 2028. The top opportunities in the wireless security cameras market segmented by type will arise in the dome camera segment, which will gain $1.9 billion of global annual sales by 2028. The top opportunities in the wireless security cameras market segmented by camera technology will arise in the digital segment, which will gain $3.4 billion of global annual sales by 2028. The top opportunities in the wireless security cameras market segmented by applications will arise in the asset monitoring segment, which will gain $2 billion of global annual sales by 2028. The top opportunities in the wireless security cameras market segmented by industry verticals will arise in the residential segment, which will gain $1.7 billion of global annual sales by 2028. The wireless security cameras market size will gain the most in the USA at $1.6 billion.
Market-trend-based strategies for the wireless security cameras market include introduction of innovative surveillance cameras addressing specific market needs, development of 4K Wi-Fi security cameras, introduction of AI-based smart security cameras, focus on compact wireless cameras for a wide range of applications and strategic partnerships among market players to drive use of new technologies.
Player-adopted strategies in the wireless security cameras market include focus on launching innovative solutions to provide solutions and products with the latest upgrades and the highest level of security to their customers, focus on providing after-sales services to retain their customers and attract new customers to their products and focus on innovations by providing new services and products that are different from what their competitors offer to gain a competitive advantage.
To take advantage of the opportunities, the analyst recommends the wireless security cameras companies to focus on innovative surveillance cameras with advanced features, focus on 4k wi-fi security cameras for enhanced surveillance, focus on ai-powered smart security cameras with advanced features, focus on the software segment in the wireless security cameras market, focus on PTZ cameras, focus on IP or network cameras for market growth, focus on video surveillance as a service (VsaaS), expand in emerging markets, focus on diversifying distribution channels, focus on strategic partnerships, provide competitively priced offerings, focus on strategic pricing strategies for market leadership, participate in trade shows and events, continue to use B2B promotions, focus on digital engagement for enhanced market visibility, prioritize technical webinars for thought leadership, focus on asset monitoring segment for market growth and focus on commercial and BFSI segments.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Wireless Security Cameras Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Wireless Security Cameras Market Segmentation
11 Wireless Security Cameras Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
22 Key Mergers and Acquisitions
23 Opportunities and Strategies
24 Wireless Security Cameras Market, Conclusions and Recommendations
25 Appendix
Executive Summary
Wireless Security Cameras Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global wireless security cameras market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for wireless security cameras? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The wireless security cameras market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider wireless security cameras market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by components, by type, by camera technology, by applications and by industry verticals.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the wireless security cameras market.
- Global Market Size and Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by components, by type, by camera technology, by applications and by industry verticals in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for wireless security cameras providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Components: Hardware; Software; Video Surveillance as a Service (VSAAS)2) by Type: Box Camera; Dome Camera; PTZ Camera; Bullet Camera; Other Types
3) by Camera Technology: Analog Or Direct; Digital; IP Or Network
4) by Applications: Home Surveillance; Public Safety and Surveillance; Asset Monitoring; Educational Institutions Security; Others Applications.
5) by Industry Verticals: Banking; Financial Services and Insurance (BFSI); Manufacturing; Education; Healthcare; Residential; Commercial; Other Industry Verticals.
Key Companies Mentioned: Hangzhou Hikvision Digital Technology Co. Ltd.; Vivotek Inc; Zhejiang Dahua Technology Co., Ltd.; Hanwha Vision; Axis Camera
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; wireless security cameras indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Hangzhou Hikvision Digital Technology Co. Ltd.
- Vivotek Inc.
- Zhejiang Dahua Technology Co., Ltd.
- Hanwha Vision
- Axis Camera.
- IDIS
- Teledyne FLIR LLC
- Robert Bosch GmbH
- Cisco Systems Inc.
- Honeywell International Inc
- Xiaomi
- Reolink
- Zmodo
- Vstarcam
- Zhuhai Ansjer Electronics Co., Ltd
- Sony Corporation
- Panasonic Corporation
- Canon Inc
- Nikon Corporation
- Wansview
- BT Group plc
- Vodafone Group plc
- Y-cam Solutions Ltd
- Netatmo
- Lorex Technology UK Ltd.
- Mobotix AG
- ABUS Security-Center GmbH & Co. KG
- Lupus-Electronics GmbH
- Instar Deutschland GmbH
- D-Link Deutschland GmbH
- FIBARO
- Satel
- DSE Sp. z o.o
- Jablotron
- Arlo Technologies, Inc
- Ring LLC
- Google Nest
- Wyze Labs Inc
- Blink Home
- Lorex Technology Inc
- Nextbase
- Swann Communications U.S.A. Inc
- Hikvision
- Axis Communications
- Eufy Security
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 295 |
Published | May 2024 |
Forecast Period | 2023 - 2033 |
Estimated Market Value ( USD | $ 6.1 Billion |
Forecasted Market Value ( USD | $ 23.7 Billion |
Compound Annual Growth Rate | 14.6% |
Regions Covered | Global |
No. of Companies Mentioned | 45 |