Security Cameras Market size exceeded USD 31.2 Billion and is projected to expand at over 18.30% CAGR from 2022 to 2030.
Globally, the size of Security Cameras Market is expected to reach USD 31.2 Billion at a CAGR of 18.30% during the forecast period of 2030 driven by Increasing awareness regarding the security needs.A system that gives a consumer a sense of security and safety with high-quality audio, video, and alarm systems that are remotely reachable from any smartphone or tablet is known as a security camera system. It also offers a wide-angle lens, motion detection recording, night vision, 2-way audio, etc.
The main factors that affect the security camera systems market growth are the rise in demand from developing countries and increasing safety needs in high-risk areas. Moreover, the integration of IoT in wireless security cameras operates the development of the wireless security camera systems market. However, the limited range and network Interference-related concerns limit the market's growth. In contrast, an increase in demand for smart city projects is predicted to create profitable opportunities for the market.
The covid-19 pandemic has impacted a majority of the population. Many people have lost their livelihood because of this deadliest pandemic. It has badly affected the market dynamics and growth of several industries. Everyone was careful about their immunity and followed social distancing. During this lockdown situation, operational activities of various end-user industries were paused, which resulted in the declination of the security cameras market, which led to a reduction in sales revenue. The supply chain networks were also interrupted, which led to a decrease in profit margin. The security cameras market is increasing at a great rate across the globe due to various advantages connected with it. It helps in avoiding internal and external thefts. It offers evidence of theft, robbery, or even several crime scenes. It makes sure customer satisfaction. It can be used inside and outside any building to sense suspicious activities.
The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. Everyone is concerned about their immunity and follows social distancing. During the lockdown situation, operational activities of various end-user industries were halted which resulted in a demand shrink for the security cameras market which further leads to decreased sales revenue. The supply chain networks were also disrupted which lead to a decline in profit margin.
However, the security cameras market is expected to recover from this global pandemic by the end of the third quarter of the coming year by properly strategizing according to the needs of the market.
Numerous factors drive the security cameras market demand for security cameras in the global market. Increasing awareness regarding the need for security cameras drives the market demand in the global market during the forecasted period. Moreover, the ease of installation of this surveillance system generates more market demand all across the globe. Additionally increasing initiatives taken by the government as well as individuals for the adoption of smart homes and smart cities also boost the market growth in the global market.
The rise in the security camera demands in the global market. The rise in the adoption of various applications of the internet of things (IoT) due to the global pandemic of COVID 19 provides various growth opportunities in the global market during the forecasted period. Moreover, ongoing extensive research in the security cameras market and other surveillance systems creates several growth opportunities during the review period all across the globe.
Though the security cameras market is increasing tremendously in the global market, some factors restrict its growth. The issues related to loss of data and privacy hampers the market demand in the global market. Moreover, the high cost involved in the installation of the system along with the high cost of cameras restricts the market growth to a large extent. Additionally, the high cost of maintenance required for smooth and efficient working of cameras is a major restraining factor and decline the market growth all across the globe.
Value Chain Analysis
The security cameras market is growing at an incredible rate globally due to various benefits associated with it. It helps in avoiding external and internal theft. It provides evidence in case of theft or burglary or even in various crime scenes. It ensures customer satisfaction. It can be used both inside and outside any building to detect any suspicious activities.
The security cameras market has been segregated all across the globe based on the type, resolution, application, professional service, and end-user.
Based on the Type
The market has been divided all across the globe based on the type into wireless/IP camera, box security camera, point tilt & zoom (PTZ) camera, dome security camera, infrared (IR) bullet camera, and many others.
Based on the Resolution
The security cameras market has been divided all across the globe based on the resolution into non HD, full HD, and high definition (HD).
Based on the Application
The market has been divided all across the globe based on the application into outdoor security cameras and indoor security cameras.
Based on the Professional Service
The market has been divided all across the globe based on professional services into support service, maintenance service, deployment service, installation service, and consulting services.
Based on the End-Users
The market has been divided all across the globe based on the end-users into manufacturing facilities, industrial facilities, public space, commercial space, residential/home, and many others.
The security cameras market has been divided all across the globe based on the region into North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region. The largest market share in the security cameras market all across the globe is held by the North American region owing to increasing demand for residential and commercial security drives the market growth in this region.
The second-largest market share in the security camera market all across the globe is held by the European region owing to increasing demand for security and surveillance applications, along with the presence of countries like Germany, the UK, France, and Italy boost the market demand during the forecasted period.
Being the fastest-growing region, the third-largest market share in the security cameras market all across the globe is held by the Asia-Pacific region owing to the increasing demand for surveillance systems in several military applications. Moreover, increasing awareness regarding the use of security cameras in various applications like inspection, monitoring, detection, and security and surveillance applications drives the market demand.
The least market share is held by the Latin American region and the Middle East and African region owing to the presence of low infrastructure in both these regions. Low per capita disposable income is another contributing factor that restricts the market growth in these regions.
The most prominent major key players in the security cameras market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the security cameras market in the global market by going for mergers, and acquisitions, by collaborating, establishing a partnership, developing a new production process, setting up a new joint venture, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the security cameras all across the globe.
The Year 2022
After militant attacks, J&K asked businesses to install surveillance cameras of specific configurations and warned of punitive action in case of non-compliance with the orders.
This global security cameras market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the security cameras market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth in the security cameras global market during the forecasted period are mentioned. The impact of COVID 19 on the security cameras market all across the globe is mentioned. The future growth rate in the Security cameras global market during the forecasted period is estimated and mentioned.
Technology standards organizations, research institutes and organizations, consulting firms, consultancy, and advisory firms, resellers and distributors, material providers, electronic component manufacturers, optical component providers, camera manufacturers, OEMs, ODMs, system integrators, and others.
|Market Size||USD 31.2 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application, Professional Service, End-User, Resolution|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Opportunities||The rise in the adoption of various applications of the internet of things (IoT)|
|Key Market Drivers||
From 2022 to 2030, the security cameras market can surge at 18.30% CAGR and value USD 31.2 Billion
The top players in the security cameras market are Panasonic Corporation (Japan), SimpliSafe, Inc. (US), Vivint, Inc. (US), FrontPoint Security Solutions, LLC (US)ADT Inc. (US), Arlo Technologies Inc. (US), Leshi Video Tech, Co., Ltd. (China), Swann Communications Pty. Ltd. (US), Motorola Solutions, Inc. (Motorola Home), Hangzhou Hikvision Digital Technology Co. Ltd. (China), Toshiba America Information Systems, Inc. (US), Samsung Communication (South Korea)
Major factors driving the security camera market are ease of installation of security cameras and rising awareness regarding the security needs.
North America region is leading with occupying the highest market share in the market.
North America, Europe, Asia-Pacific, and the rest of the world are the key regions where the market’s evaluation have been studied across the world.