Hexa Research’s report, “Internet Protocol (IP) Security Camera Market Size and Forecast, by Connection (Centralized, Decentralized), by Product Type (Fixed, PTZ, Infrared), by Application and Trend Analysis, 2015 – 2025”, anticipates the global internet protocol security camera market reaching $33.06 billion by 2025. Factors attributed to this upswing include, the increasing requirement of safety with the advancements in infrastructure and smart cities, residential and industrial complexes, and the drive by government and law enforcement agencies for increased security and surveillance. Also, the rising spending towards national security because of global collaborative support by countries including, the U.S., France, and Australia to counter terrorism is expected to promote the usage of video surveillance devices including internet protocol security cameras.
- Working professionals prefer IP security camera as a key tool for monitoring senior citizens and infants using smartphones and personal computers.
- Advancements like edge-based video analytics and H.265 high-efficiency video encoding with 4K resolution are expected to be the favorable enhancements making these cameras more appealing and useful.
- The prevailing penetration rate of video surveillance devices in countries such as Germany, UK, and France are expected to be a favorable factor for the market.
- The introduction of internet protocol security camera as a control system in home automation,
- Demand for PTZ type of camera is expected to grow at a CAGR of more than 24.0% from 2017 to 2025. PTZ cameras are preferred for their advanced capabilities such as face recognition and high-efficiency video coding.
- IP security cameras are expected to foresee volume growth at a CAGR of over 22.0% from 2017 to 2025.
- Growing demand for remote sensing along with the inclusion of cloud computing and internet of things (IOT) will also have a positive impact on the market soon.
- The governments of various countries including the U.S., Israel, Russia, and the UK have increased their spending towards the inclusion of video surveillance devices in commercial and residential applications.
- There is a major shift among consumers from the legacy analog systems to network intelligent DSS (Digital Security Surveillance) which supports multiple streams of high definition IP video.
- Manufacturers operating in the market include Bosch Security, Honeywell, Samsung Techwin, CP-Plus, Dahua Technology, and Axis Communications.
Statistical curiosity piqued? Then checkout a sample of the “Internet Protocol (IP) Security Camera Market Size and Forecast” report.