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IP Camera Market Size
IP Camera Market was valued at over USD 9.5 billion in 2022 and is anticipated to grow at a CAGR of over 14.7% between 2023 and 2032. Rising security concerns, both in residential & commercial sectors, have driven the demand for surveillance systems. IP cameras provide a reliable & efficient way to monitor properties, deter crimes, and enhance the overall security measures. IP cameras offer the convenience of remote monitoring through smartphones, tablets, and computers. Additionally, cloud-based storage solutions enable users to store and access surveillance footage from anywhere with an internet connection. This flexibility has increased the appeal of IP cameras for both residential and commercial users.
IP cameras, short for Internet Protocol cameras, are digital video cameras that transmit data over a network, enabling remote surveillance and real-time monitoring. They use internet connectivity to send video & audio signals, making them accessible from computers, smartphones, or other devices. IP cameras are widely used for security & surveillance purposes in various settings.
IP cameras, especially high-resolution models with advanced features, can be costly as they encompass camera units, installation, and network infrastructure. Small businesses and individuals might find these expenses prohibitive, impacting their ability to invest in comprehensive IP camera systems. The initial investment can be a barrier for budget-conscious consumers and small businesses.
How big is the global IP camera market?
Market size for IP camera was valued at over USD 9.5 billion in 2022 and is anticipated to grow at a CAGR of over 14.7% between 2023 and 2032, owing to the rising security concerns, both in residential & commercial sectors.
Who are the major players in IP camera industry?
Hangzhou Hikvision Digital Technology Co., Ltd., Dahua Technology Co., Ltd., Axis Communications, Bosch Security Systems, Panasonic Corporation, Honeywell International, Inc., and Sony Corporation.
Why is Asia Pacific emerging as a lucrative avenue in IP camera industry?
Asia Pacific market for IP camera is expected to grow at a lucrative pace over 2023-2032 as many cities in the region are investing in smart city initiatives to improve urban living and enhance public safety, boosting the product demand.
Why is centralized connection gaining traction in IP camera market?
The centralized segment held a market share of around 50% in 2022 and is expected to grow at a lucrative pace through 2032, as the centralized connection allows businesses to manage and control multiple IP cameras from a single central location or server, simplifying monitoring, configuration, and maintenance processes.