Networked Surveillance: The Future of IP Cameras (2023-2029)

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Networked Surveillance: The Future of IP Cameras (2023-2029)

Aishwarya Bhasme

27 Dec 2023 • 213 Views

IP Camera Market size was valued at USD 11.87 Bn in 2022 and is expected to reach USD 27.41 Bn by 2029, at a CAGR of 12.7%.

IP Camera Market Overview:

The IP Camera market is currently experiencing a notable shift as consumers increasingly prioritize sustainability and ethical practices in their purchasing decisions. With a growing awareness of the environmental impact of fast fashion, there is a rising demand for accessories crafted from eco-friendly materials and produced through ethical manufacturing processes. This trend is reshaping the industry, prompting brands to adopt transparent supply chains and incorporate sustainable practices into their business models. Furthermore, technology is playing a pivotal role in enhancing the customer experience, with augmented reality (AR) applications and virtual try-on features gaining popularity, allowing shoppers to visualize accessories before making a purchase. The market is also witnessing a surge in the popularity of unique, artisanal pieces that showcase craftsmanship and individuality. As consumer values and preferences evolve, the IP Camera market is adapting to align with a more conscious and tech-savvy consumer base.

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IP Camera Market Scope:

The IP Camera market is experiencing a broadening scope, driven by a combination of factors that reflect the diverse needs and preferences of today's consumers. The integration of technology, such as smart accessories and wearable tech, is expanding the market beyond traditional boundaries. Smartwatches, fitness trackers, and other technologically advanced accessories are gaining popularity, providing both style and functionality. Additionally, the market is witnessing a surge in customization and personalization trends, with consumers seeking unique and bespoke accessories that align with their individual tastes. E-commerce continues to play a pivotal role, offering consumers a convenient platform to explore and purchase a wide range of accessories from the comfort of their homes. Collaborations between fashion brands and celebrities or influencers are also contributing to the market's expansion, creating exclusive and aspirational collections that resonate with consumers. The global nature of the industry allows for the incorporation of diverse cultural influences, further enriching the market with a variety of styles and designs. As the IP Camera market continues to evolve, its scope reflects the intersection of technology, individualization, and global connectivity.

IP Camera Market Segmentation:

In terms of revenue share for IP cameras, the hardware segment accounted for 76% of the market in 2022. The increasing use of different kinds of cameras, lenses, camera mounting, and network connectivity devices in the installation of IP surveillance cameras is what is driving this segment's growth. Its durability and one-time use design are anticipated to fuel the expansion of the hardware IP camera market. Additionally, increasing demand for dependable and high-quality surveillance systems will support the segment's growth.

In terms of product type, the infrared camera segment held the largest market share for IP cameras in 2022 and is anticipated to expand at a substantial compound annual growth rate (CAGR) during the forecast period. Clear images can be taken with infrared cameras even in dimly lit environments. This camera is heavily utilized for applications like border control, critical infrastructure protection, and perimeter security. They are perfect for surveillance in a variety of settings because they offer features like temperature measurement, motion detection, and night vision. The demand for infrared cameras in the global market is anticipated to be driven by developments in infrared technology, such as thermal imaging and infrared fusion.

According to the application, the IP Camera Market Share in 2022 was dominated by the banking and finance sector. Both the rise in bank robberies and the expansion of financial institution activity have an impact on the segment's growth. Modern camera systems that alert security personnel to unauthorized locker access should be installed. With the help of recorded video footage from these devices, suspects in bank robberies and other crimes occurring in banking facilities can be identified. During the projected period, these factors are anticipated to propel market growth.

IP Camera Market Size and Forecast, by Component (2022-2029)
1. Hardware
2. Service
IP Camera Market Size and Forecast, by Product Type (2022-2029)
1. Fixed Camera
2. Pan-tilt-Zoom (PTZ)Camera
3. Non-Mechanical Pan Tilt Zoom Camera
4. Infrared Camera
IP Camera Market Size and Forecast, by Connection Type (2022-2029)
1. Consolidated
2. Distributed
IP Camera Market Size and Forecast, by Application (2022-2029)
1. Banking Finance
2. Commercial
3. Government
4. Education
5. other
IP Camera Market Size and Forecast, by Region (2022-2029)
5. North America
5. Europe
5. Asia Pacific
5. Middle East and Africa
5. South America

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IP Camera Market Key Players: The key players are

1. 3DEYE Inc.
2. Arecont Vision Costar LLC.
3. Avigilon Corporation
4. Belkin International Inc.
5. Bosch Security Systems GmbH
6. Cameraftp
7. Hikvision Digital Technology Co., Ltd.
8. Camcloud
9. D-Link Corporation
10. EOS Digital Services
11. GEOVISION Inc.
12. Hangzhou Hikvision Digital Technology Co. Ltd.
13. Honeywell International Inc.
14. Johnson Controls
15. Kintronics Inc.
16. Axis Communications AB
17. Matrix Comsec
18. Panasonic Corporation
19. PRO-VIGIL
20. Samsung Electronics Co. Ltd.
21. Schneider Electric SE
22. Sony Corporation
23. Stealth Monitoring
24. TYCO

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IP Camera Market Regional Analysis:

The IP Camera market prediction research is created after a thorough examination of many geographical areas, including Asia-Pacific, Europe, North America, and the rest of the globe. North America has the greatest power over the IP Camera market share and will continue to be a major shareholder in the global IP Camera market.

COVID-19 Impact Analysis on IP Camera Market: The COVID-19 impact on the IP Camera market is also included in the report

Key Questions Answered in the IP Camera Market Report are:

What will be the CAGR of the IP Camera market during the forecast period?
Which segment emerged as the leading segment in the IP Camera market?
Which are the prominent players in the IP Camera market?

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Aishwarya Bhasme

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