01-09-2019 09:28 AM CET - Business, Economy, Finances, Banking & Insurance
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IP Camera Market Technology Evolution to 2024 Top Key Players are Avigilon, Axis Communications, Belkin International, Bosch Security and Safety Systems, Dahua Technology Co. LTD, Hikvision, March Networks, MOBOTIX AG, NETGEAR, Panasonic, Pelco, Toshiba a

Press release from: Electronics and Media Industry
IP Camera Market
IP Camera Market
IP Camera Market size is set to exceed USD 20 billion by 2024. The shipments are poised to grow at over 25% CAGR from 2017 to 2024. Technological proliferation, ubiquity of internet connectivity and the demand for remote monitoring are expected to drive IP camera market growth over the forecast period. Advancement in technology such as 4K resolution, edge-based video analytics and penetration of H.265 high-efficiency video encoding is also poised to stimulate demand. The growing number of players in the network camera market and availability of low-cost manufacturing has been fueling the growth across the globe.

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Key players in the IP camera market include Arecont Vision, Avigilon, Axis Communications, Belkin International, Bosch Security and Safety Systems, Dahua Technology Co. LTD, D-Link, GeoVision, Hikvision, March Networks, MOBOTIX AG, NETGEAR, Panasonic, Pelco by Schneider Electric, Sony Professional, Toshiba and Tyco. Vendors are investing in R&D to develop new technologies that make the solution versatile for diverse applications and environmental conditions. Chinese vendors have started to extend their reach outside of China by offering low prices. For instance, Hikvision and Dahua Technology lowered prices of their products to outcast competitors.

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 network camera market. Moreover, other factors such as improved sensor availability, new video analytics capabilities, wider adoption of thermal imaging, mobile access, intelligent building control, 360-degree vision and de-warping are contributing immensely towards penetration of the network camera market.

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Centralized connectivity in the IP camera market offer basic analytics, video encoding and event triggering functions. Processing functions are carried by the central computer that runs on licensed software. Such solutions are primarily useful for the institutional setting and places where there is a dedicated central monitoring system. However, decentralized connectivity solutions do not require dedicated software and can run individually with built in storage, with the segment expected to grow at a CAGR of over 20%. Decentralized IP cameras are more expensive than centralized solutions, however, offer higher flexibility in terms of operation and storage.

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 U.S. IP camera market dominated the global industry in 2016 owing to the fast pace of technology adoption and presence of large number of players in the region. Increasing demand for advanced workplace surveillance solutions and demand from small installations are expected to drive revenue growth in the regions.

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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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