ID: MRFR/SEM/6275-HCR | February 2021 | Region: Global | 100 pages
The security cameras market was valued at USD 4.87 billion in 2017 and is expected to reach USD 9.72 million by the end of the forecast period (2019–2024) at a CAGR of 11%.
Security cameras are available in a wide variety of specifications, sizes, and resolution, however, their prime function is to capture and store a video for security purpose. Security cameras help to monitor activities in residential as well as commercial spaces. Wireless security cameras have become very popular owing to hassle-free installation and cost efficiency. Major factors driving the security cameras market are ease of installation of security cameras and increasing awareness regarding the security needs. Security cameras are used to control and monitor activities happening in and around a building premise. The security cameras market growth is mainly driven by the growing adoption of smart homes, increasing awareness regarding security and safety, and ease of installation. However, issues regarding privacy and loss of data, and high cost of cameras and its maintenance pose a challenge to the growth of the security cameras market.
October 2017, Hikvision partnered with CCTV design software supplier, JVSG. Hikvision aims to use JVSG’s IP Video System Design Tool, with any of Hikvision’s 2 Series EasyIP cameras—4 Series and 6 Series smart network cameras. This integration is expected to include video surveillance system planning, design, and efficiency analysis.
April 2018, Avigilon Corporation, a Motorola Solutions company, announced its new H4 Video Intercom secured entry system. The H4 Video Intercom is ideal for applications in retail stores, offices, hotels, and educational facilities.
February 2018, NETGEAR announced the separation of its Arlo business from NETGEAR. This separation is expected to be in effect by an initial public offering (IPO) of newly issued shares of the common stock of Arlo Technologies, Inc. (Arlo) by the second half of 2018.
The security cameras market has been segmented based on type, application, resolution, professional service, end-user, and region.
By type, the security cameras market has been segmented into infrared (IR) bullet camera, dome security camera, point tilt & zoom (PTZ) camera, box security camera, wireless/IP camera, and other cameras.
By application, the security cameras market has been segmented into indoor security cameras and outdoor security cameras.
By resolution, the security cameras market has been segmented into high definition (HD) & full HD, and non HD.
By professional service, the security camera market has been segmented into consulting service, installation and deployment service, maintenance and support service.
By end-user, the security cameras market has been segmented into residential/home, commercial/public space, industrial/manufacturing facilities, and others.
By region, the security cameras market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The security camera market is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of the security cameras market has been studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and South America).
The security camera market is expected to grow at a significant rate during the forecast period, 2019–2024. The market was dominated by North America occupying the highest market share, followed by Europe, and Asia-Pacific. There has been significant growth in commercial and residential security in countries such as India and China. At present, China has the highest number of surveillance cameras in the world which makes the region lucrative for various firms provide security cameras.
Security Cameras Market, USD Billion
Source: MRFR Analysis
The companies operating in security cameras market are adopting inorganic growth strategies such as partnerships and alliances along with organic strategies such as expansion, new product development, and focus on research & development to increase their presence in the global market. However, new entrants in the market pose a major threat to the existing players in the security cameras market. It is crucial for the vendors to provide cost-efficient and high-quality security cameras in order to stay relevant in an intensely competitive market environment.
The key players in the security cameras market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are Hangzhou Hikvision Digital Technology Co. Ltd (China), Motorola Solutions, Inc. (Motorola Home), Swann Communications Pty. Ltd (US), Shenzhen Leshi Video Tech. Co., Ltd (China), Arlo Technologies Inc (US), ADT Inc. (US), FrontPoint Security Solutions, LLC (US), Vivint, Inc. (US), SimpliSafe, Inc. (US), and Panasonic Corporation (Japan). These players contribute significantly to market growth.
Apart from the top key players, other players contributing nearly 40–45% in the security cameras market are Ring LLC (US), Reolink Digital Technology Co., Ltd (China), Godrej Security Solutions (Godrej & Boyce Mfg. Co. Ltd) (India), Nest Labs, Inc (US), B & H Foto & Electronics Corp (US), Immedia Semiconductor, Inc. (US), Wyze Labs, Inc (US), Amcrest (US), Comcast Corporation (Xfinity) (US), CPI Security Systems, Inc. (US), Xiaomi Corporation (China), Canary Connect, Inc (US), Logitech International S.A (Switzerland), Zmodo Technology Corporation Ltd (China), Sony Corporation (Japan), Samsung Communications (South Korea), and Toshiba America Information Systems, Inc (US).
|Market Size||USD 9.72 Million|
|Forecast Units||Value (USD Million)|
|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||Increasing adoption of applications of the Internet of Things.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
2020–2027 is the official growth period of the security camera market.
Major factors driving the security camera market are ease of installation of security cameras and rising awareness regarding the security needs.
Hikvision Avigilon Corporation NETGEAR are the key names and players of the market investing in a significant way.
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.