Published Date: 30-Nov-2022
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According to a new report, published by KBV research, The Global IP Camera Market size is expected to reach $23.4 billion by 2028, rising at a market growth of 13.7% CAGR during the forecast period.
The Infrared segment acquired maximum revenue share in the Global IP Camera Market by Product Type 2021 thereby, achieving a market value of $10.4 billion by 2028. The increased security and safety of public, private, and commercial facilities in low light and visibility conditions due to the employment of this form of video traffic & surveillance devices used to monitor precisely at night has increased the adoption rate of this camera type.
The Commercial segment is showcasing a CAGR of 13.2 % during (2022 - 2028). The rising demand for advanced security solutions in the banking and financial sectors, is propelling the commercial sector and registering the highest revenue share of commercial applications in the IP camera market. Implementing cutting-edge video solutions that can alert and inform security workers about unauthorised entry and admission into the premises is encouraged by the rise in retail theft.
The Hardware segment is leading the Global IP Camera Market by Component 2021 thereby, achieving a market value of $17.3 billion by 2028. As a result of the ease that the market's development in recent years has brought, hardware components held the major market share in 2021. Few government agencies deploy facial recognition and body detection technologies, which are being used by manufacturers to develop new goods with technological advancement and greater features provided by AI and IoT.
The Distributed segment has shown the growth rate of 15% during (2022 - 2028). Due to the increasing number of video surveillance systems being installed in facilities, distributed systems are predicted to increase at a high CAGR during the projected period. The cost of purchasing additional video recorders is reduced by distributed solutions' built-in storage capabilities, which enable data to be recorded in a digital media storage device like SD cards, network-attached storage (NAS), hard disc or drives flash drives.
The Asia Pacific market dominated the Global IP Camera Market by Region 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8.6 billion by 2028. The Europe market is exhibiting a CAGR of 13.2% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 13% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/ip-camera-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Avigilon Corporation (Motorola Solutions), Belkin International, Inc. (Hon Hai Precision Industry Co., Ltd.), Bosch Security Systems GmbH (Robert Bosch GmbH), D-Link Corporation, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International, Inc., Johnson Controls International PLC, Panasonic Corporation, Samsung Electronics Co., Ltd. (Samsung Group), and Sony Corporation.
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