Globally, the size of the IP video surveillance market is expected to boost at a CAGR of 12.7%, with a value of USD 80.94 million during the estimated projected quarters of 2022-2030 driven by the increasing number of terrorism attacks, security concerns, and crime rates in the organizations are the major growth stimulating factors for the IP video surveillance market.
The manufacturers have realized the need for optimum IP surveillance systems because of the government sectors' increased adoption of advanced surveillance. There are several benefits that an IP camera CCTV system offers over an analog format. The IP security camera sends a signal over a network, allowing a more outstanding information transfer than an analog signal sent to a DVR, which is a significant driver for IP video surveillance. The network cameras can be wireless and work through the network. They are used in big departmental stores, food chains, malls, factories, workshops, and several other places to check the ongoing activities that help in the growth of the IP video surveillance market across the world.
The use of video surveillance in business is growing significantly due to the increasing need for physical security coupled with cloud-based services for centralized data. Video surveillance is adopted in manufacturing, banking and financial services, and the transportation and retail industries.
The COVID – 19 pandemic has disrupted the manufacturing processes and logistics. However, the demand for the IP video surveillance market is expected to grow in the forecast period. The demand for contactless solutions in the industry has been increasing right after the beginning of the COVID 19 pandemic. The video surveillance systems that include the face recognition systems, thermal cameras that check the body temperature of the individual that gets across the cameras, cameras integrated with the advanced algorithms that detect the masks are some of the growth-stimulating features of the IP video surveillance market.
On the other hand, the key areas such as government organizations, police stations, warehouses are increasingly generating demand for the IP video surveillance systems due to reduced transportation.
An increasing number of terrorism attacks, security concerns, and crime rates in the organizations are the major growth stimulating factors for the IP video surveillance market.
The increasing number of the organized retail industry and commercial units accompanied with the rapid economic growth in the developing countries are the major factors that propel the overall growth of the IP video surveillance market. Additionally, the innovations in the industry which include, tracking the traffic routes, choosing and finding the parking areas have significantly increased the IP video surveillance market demand in recent times.
The manufacturers of the video surveillance cameras are integrating advancing technologies into the video surveillance systems such as modern lenses, dome-shaped video cameras that can capture wider spaces, the 4K technologies to capture images and videos at better resolution, wireless, cloud-based systems to transmit the data easier for the bigger organizations. Such advancing technologies are expected to boost the overall growth of the IP Video surveillance market.
The increasing number of security breaches in the organization is considered as the primary growth-stimulating factor for the IP video surveillance market. A recent study shows that there are about 46% of organizations across the globe without any form of security-related training. Such factors present lucrative opportunities for the overall growth of the IP video surveillance industry.
The increasing number of unauthenticated attackers that misuse the organizations’ information recorded in the surveillance systems and the increasing number of such incidences across the globe is considered as the major restraint for the IP video surveillance market. The attackers are increasingly bringing novel strategies and are performing counterfeit activities such as deleting the video footage, reconfiguring alarming systems, disabling cameras, or shutting down the entire system.
The increasing number of remote and cloud-based surveillance systems in the industry has propelled governmental organizations to introduce stringent laws and regulations regarding the captured content from the video surveillance systems. Countries like Europe and USA have introduced privacy-related regulations such as General Data Protection Regulation (GDPR). The General Data Protection Regulation is considered the toughest privacy law which is capable of imposing obligations on any part of the world when the video or image content is related to the citizens of Europe.
The prevalence of duplicate and cheap products in the industry is considered the primary challenge for the established market players. A recent study shows that there are over 50% duplicate video surveillance systems available at cheaper rates in the market.
Another primary challenge is that the bandwidth issues, the data generated at the larger organizations or firms require higher bandwidth, which demands increased installation costs. The demand for the growing number of cameras for the larger firms and increasing bandwidth requirements are hindering the overall growth of the IP video surveillance market.
Cumulative Growth Analysis:
The analog cameras were effectively replaced with the 4K resolution IP cameras which are capable of producing sharper resolutions by 27times comparatively. The 4K cameras can produce 9 times better videos than the HD cameras in terms of resolution; such factors have propelled the end-user industries to deploy the 4K cameras for surveillance. Therefore the market value of the IP video surveillance market size to reach USD 25.46 Billion with a 12.42% CAGR from 2021 to 2027 (forecast period).
The market experts estimate that the market value will have a steady growth owing to the contribution of the manufacturers by integrating the modern zoom lenses in the surveillance cameras, additionally; they are also implementing several hardware innovations to increase the performance of the surveillance systems, deploying higher quality microphones to transmit the audio along with the video content, internal heating elements to combat the cold environmental conditions. Therefore these factors are considered as the primary growth stimulating factors of the IP video surveillance industry.
Value Chain Analysis:
Developed countries are increasingly adopting IP video surveillance cameras owing to the increasing number of small businesses residential units, hospitals, and other business sectors. The growing population, and developing infrastructure have also increased the demand for IP video surveillance cameras. The airports, schools, colleges, religious places were increasingly developing in Asia-pacific regions, which has recently fueled the IP Video Surveillance market value. Other factors which include, emerging camera manufacturers, availability of surveillance systems at affordable rates are presenting opportunities for the overall growth of the IP video surveillance market. The security breaches in the manufacturing facilities, other organizations are rapidly increasing, which increase the demand for intelligent video surveillance equipment to detect counterfeit activities immediately. Also, the 4K technologies combined with the digital systems are capable of producing higher-quality videos and images; additionally, they are capable of capturing fast-moving objects or vehicles. Such factors have increased the IP video surveillance market value in recent times.
Based on Specification:
Based on End User:
The video surveillance systems in the Asia Pacific regions were emerging in recent years, including the countries like India. Since India possess some of the world’s leading market players, and the demand for intelligent video surveillance systems has been increasing in the region owing to the terrorist attacks, the IP video surveillance market value is expected to witness huge growth during the forecast period. Moreover, one of the leading market players, Canon in India has launched a new range of IP cameras that features intelligent video analytics and other attractive features. Such factors are fuelling the overall growth of the IP video surveillance industry in India.
On the other hand, North America is expected to witness tremendous growth in the IP video surveillance industry, owing to the increasing number of industrial sectors in the region. Additionally, the market players in North America are exploring the advanced features and incorporating the advancements in video surveillance cameras. The emerging digital cameras are also increasingly impacting the overall growth in North America.
Axis Communications has launched a new addition to its AXIS M30 Network Camera Series. AXIS M3068-P is a 12 MP mini-dome that provides 15 fps with the Forensic WDR. In contrast, the AXIS M3067-P is a 6 MP camera that provides up to 30 fps with the Forensic WDR and has Lightfinder technology which offers 360-degree panoramic views with no blind spots.
ScanSource signed an agreement to distribute the commercial security products of Honeywell. This agreement will allow ScanSource to broaden its base of video surveillance, access control, and intrusion prevention products and solutions while enabling the partners to purchase Honeywell's commercial security solutions directly.
This report has covered:
|Market Size||USD 80.94 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hangzhou Hikvision Digital Technology Co. Ltd (China), Microsemi Corporation (US), Bosch Security Systems Inc. (Germany), Netgear Inc. (the US), Cisco Systems Inc. (the US), Avigilon Corporation (Columbia), Panasonic System Networks Co. Ltd. (Japan), Genetec Inc. (Taiwan), Axis Communications AB (Sweden), D-Link Corporation Incorporated (Taiwan), The Infinova Group (US), Geovision Inc. (Taiwan)|
|Key Market Opportunities||The government has adopted new technologies and strategies to ensure public safety and security.|
|Key Market Drivers||
The market is supposed to earn USD 25.46 Bn by 2023 increasing from USD 80.94 Bn in 2030.
Hangzhou Hikvision Digital Technology Co. Ltd (China), Microsemi Corporation (US), Bosch Security Systems Inc. (Germany), Netgear Inc. (the US), Cisco Systems Inc. (the US), Avigilon Corporation (Columbia), Panasonic System Networks Co. Ltd. (Japan), Genetec Inc. (Taiwan), Axis Communications AB (Sweden), D-Link Corporation Incorporated (Taiwan), The Infinova Group (US), Geovision Inc. (Taiwan)
This eport suggests that the market is supposed to expand at 12.7% CAGR.
The sofware segment is assessed to mark 15% CAGR over the forecast period.
Increasin crime rate, adoption of better network technologies, rising government projects, etc. are supposed to emerge as the driving factors of the market.
Norh America accounted for the highest market share in 2016 and was valued at USD 4,331.15 Mn. It is estimated to strike 12.7% CAGR by 2030.
Some of he end-user industries are - BFSI, Manufacturing, Healthcare, Government, and Retail, among others.