Current State of IP Camera Market | Opportunities & Challenges | Avigilon, Axis Communications, Belkin International, Bosch Security and Safety Systems, Dahua Technology, Hikvision, March Networks, MOBOTIX AG, NETGEAR, Toshiba, Tyco

IP camera market is expected to gain traction over the next seven years owing to the increasing use of these devices in applications such as senior citizen monitoring, baby monitoring, and pet monitoring. Customers prefer a cost-effective option of IP cameras over the costlier baby or nanny cams. These devices enable the parents to view their child’s activity through web-enabled smartphone, laptops, or iPads. Furthermore, these devices are being widely used by small businesses such as a small retail stores or small warehouses as these require low-cost investment and easy installation.

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These devices are being increasingly used in solving crimes and providing growth prospects in both public and private spaces. The videos captured by these devices are considered as the legal proof to investigate crimes in several countries including the UK, the U.S., India, and China. The effectiveness of these systems to deter crime has increased the adoption of these devices drastically. In June 2017, a lawyer based in the U.S. used these devices to call the emergency helpline when his security system notified him of two suspects entering his house. Such instances are providing ample growth opportunities for the IP camera market.

Elaborating further on the application portfolio of IP camera market, the domains spanning healthcare, retail, industrial, and real estate, transport, BFSI, and education have contributed immensely to the IP camera market proliferation. Backed by the falling price of these HD network cameras coupled the growing adoption of open standards, these high-resolution HD network cameras have phenomenally penetrated the commercial and governmental sectors.

The Major Key Players in the Market are as follows:

1. Arecont Vision
2. Avigilon
3. Axis Communications
4. Belkin International
5. Bosch Security and Safety Systems
6. Dahua Technology Co. LTD
7. D-Link
8. GeoVision
9. Hikvision
10. March Networks
11. MOBOTIX AG
12. NETGEAR
13. Panasonic
14. Pelco by Schneider Electric
15. Toshiba
16. Tyco

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In response to these opportunistic waves, the competitive landscape of IP camera market is thriving with product innovations and developments, having pricing and technology upgradations as the center focus parameters. Not to mention, M&As and collaborative deals between security and technology players is emerging as a top-notch growth strategy, to sustain in this ferociously dynamic landscape.

With the increasing deployment of big data and IoT and the consequent large pool of data, the quest for deriving actionable insights is expected to proliferate massively. Undoubtedly with ‘smart’ trends penetrating both the government and private sectors, the advancements and security risks go hand in hand, in terms of growth.

Amidst this scenario, analysts quote the IP camera market trends to be substantially profitable in the coming years, with a pool of demand from a varied range of sectors. Backed by this drive toward real-time IP/network solutions, the global IP camera market is slated to register a CAGR of 20% over 2017-2024. For the records, the market stood at an appreciable revenue of USD 5 billion in 2016.

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