Security Cameras Market Overview
The security cameras market was marked at USD 4.87 billion in 2017, and it is expected to grow at a higher CAGR of 11% in the global market during the forecasted period to account for a higher market share value of approximately USD 9.72 billion by the end of the forecasted period.
A security camera helps in protecting private places along with industrial and commercial places. It has a wide variety of different resolutions, sizes, and specifications are available in the security cameras. It is a powerful device and helps an individual in tracking any burglary details that happened in past. This is mainly used for investigation purposes. Moreover, an increasing number of terrorist attacks leads to the deployment of innovative surveillance systems and hence uses security cameras
COVID 19 Analysis of Security Cameras Market
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.
Security Cameras Market, USD Billion
Source: MRFR Analysis
Security Cameras Market Regional Analysis
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.
Security Cameras Market Competitive Landscape
The most prominent major key players in the security cameras market all across the globe are mentioned below:
- Panasonic Corporation (Japan)
- SimpliSafe, Inc. (US)
- Vivint, Inc. (US)
- FrontPoint Security Solutions, LLC (US)
- ADT Inc. (US)
- Arlo Technologies Inc. (US)
- Shenzhen 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)
- Sony Corporation (Japan)
- Xiaomi Corporation (China)
- Godrej Security Solutions (India)
- CPI Security Systems, Inc. (US)
- Canary Connect, Inc. (US)
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.
- In October 2017, a partnership was established between JVSG (a CCTV design software supplier) and Hikvision. This partnership will help in manufacturing 6 series and 4 series smart network cameras along with video surveillance system efficiency analysis, design, and planning.
- In April 2018, a new H4 Video Intercom Secured entry system has been launched by a Motorola Solutions Company called Avigilon Corporation. This series is useful in various applications in educational facilities, hotels, offices, and retail stores.
- In February 2018, an announcement of the separation of Arlo business was made from NETGEAR.
- All the major key players are highly investing in mergers and acquisitions, new product launches, and joint ventures.
This global security cameras market research report consists of the following elements mentioned below:
- Market Overview
- COVID 19 Analysis
- Market Dynamics
- Value Chain Analysis
- Market Segmentation
- Regional Analysis
- Competitive Landscape
- Recent Developments
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.