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Government Initiatives In Smart City Projects Fueling The Growth Of The IP Camera Market: Strengthening the Growth Trajectory of the IP Camera Market
IP Camera Market
What Is the Expected CAGR for the IP Camera Market Through 2025?
The expansion of the IP camera market has been swift in recent years. The market value is projected to inflate from $14.06 billion in 2024 to $16.04 billion in 2025, with a compound annual growth rate (CAGR) of 14.1%. Factors contributing to the growth over the historical period encompass security issues, cost-cutting measures, integration with IoT, the need for remote monitoring, and regulatory compliance.
What's the Projected Size of the Global IP Camera Market by 2029?
The size of the ip camera market is forecasted to experience a rapid expansion in the upcoming years, reaching an estimated value of $28.98 billion in 2029 with a compound annual growth rate (CAGR) of 15.9%. This predicted growth during the forecast period can be linked to the broadening of high-speed internet facilities, initiatives for smart cities, application of cloud-based solutions, the prevalence of edge computing in video analysis, and a surge in demand for 4k resolution and beyond. The forecast period is also expected to witness certain trends such as a rising demand for AI-powered analytics, swift adoption of 4k and ultra HD cameras, the integration of IoT and smart home systems, a focus on cybersecurity, and a shift towards cloud-based solutions.
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Top Growth Drivers in the IP Camera Industry: What's Accelerating the Market?
Government-led initiatives for smart city projects are anticipated to fuel the expansion of the IP camera market in the future. Smart cities denote a governmental region that harnesses information and communications technology (ICT) to enhance operational efficiency and offer superior infrastructure services to its inhabitants. IP cameras are utilized in smart cities for bolstering traffic control and urban mobility. This leads to safer and more accessible streets and has upped demand for IP cameras. For example, in August 2024, Bosch, a technology firm based in Germany, unveiled its Flexidome cameras, made in India and equipped with AI-powered video analytics. These cameras are designed specifically for smart city surveillance and public safety, offering top-tier image quality, scalability, and real-time data analysis for monitoring urban infrastructure. This aligns with Bosch's endeavor to contribute to India's evolving smart city projects, meeting local security needs while maintaining international standards. Hence, the global rise in government initiatives focused on smart city projects is propelling the growth of the IP camera market.
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What Trends Will Shape the IP Camera Market Through 2029 and Beyond?
Advancements in technology are an emerging trend that is gaining traction in the IP camera industry. The leading businesses within this market are focusing on innovative technologies as a means to maintain their market standing. For example, Hangzhou Hikvision Digital Technology Co., Ltd., a Chinese company that manufactures video surveillance equipment for both civilian and military use, released their new DeepinView bullet network cameras featuring TandemVu technology in July 2022. These cameras enable simultaneous monitoring of large scenes and tiny details, offering two perspectives for improved spatial awareness and security. The TandemVu-equipped DeepinView bullet cameras have two closely arranged bullet lenses. Each of the lenses has unique characteristics; for instance, the lower motorized lens has focal lengths of 10-50 mm (8A86) or 8-32 mm (8A46), these lengths are designed to thoroughly scrutinize specific security issues, while the fixed upper lens constantly presents an overall view.
What Are the Main Segments in the IP Camera Market?
The IP camera market covered in this report is segmented -
1) By Component: Hardware, Services
2) By Product: Non-Mechanical Pan-Tilt-Zoom (PTZ) Camera, Pan-Tilt-Zoom (PTZ) Dome Camera, Fixed Cameras, Fixed Dome Cameras, Infrared Camera
3) By Connection: Centralized, Decentralized
4) By Application: Banking And Finance, Government, Commercial, Education
Subsegments:
1) By Hardware: Cameras, Lenses, Connectors, Storage Devices, Power Supplies
2) By Services: Installation Services, Maintenance And Support, Monitoring Services, Cloud Storage Services, Software Solutions
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Which Top Companies are Driving Growth in the IP Camera Market?
Major companies operating in the IP camera market include Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Panasonic Holdings Corporation, Sony Corporation, Avigilon Corporation, 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, Digital Watchdog
Which Regions Will Dominate the IP Camera Market Through 2029?
Asia-Pacific was the largest region in the IP camera market in 2024. The regions covered in the IP camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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