The Weatherproof Camera Market is expected to grow at USD 9 Billion by 2023, at 7% of CAGR between 2017 and 2023.
Weatherproof Camera Market Overview
It is expected that the Weatherproof Camera Market will gain USD 9 billion by the end of 2023 and will also grow at a CAGR of 7%. The cameras are used to capture monitors and generate alarms to perform monitoring effectively. In unsuitable weather, the camera provides surveillance to offices and residents. The camera functions to detect and capture high-quality footage similar to the transparent image captured by other surveillance cameras. The camera that one can use in any environmental situation is weatherproof. It can also be referred to as a sealed weather camera. This enables a photographer or consumer to go out with dirt and debris or can be helpful in areas around in a snowstorm, a downpour, or a windy day. Using a weatherproof camera to detect motion and produce alerts, thereby achieving more efficient monitoring. The increasing level of investment for city infrastructure development and rapid urbanization is rising in the market. The growing number of government initiatives regarding the safety of citizens from foreign attacks and robust border security implementation with the water-resistant camera will also raise market growth. The increasing adoption of weatherproof cameras by photographers, government enterprises, security agencies, and others is a vital growth factor. The high cost of production and lack of skilled users will hinder the market in future.
The adverse consequences of the COVID19 pandemic have devastated the entire economy and pushed the economic growth rate to lower levels. Due to the pandemic, businesses and working sectors are unable to perform their routine activities, which created heavy financial losses. The imposition of lockdown restrictions has forced industrial operations and manufacturing units to remain closed for an unknown time period. The closure of operational activities disrupted the overall supply chain and widened the demand-to-supply gap. However, the market maintained a steady growth even in these harsher situations.
As people mostly stayed at home during the pandemic, the demand for weatherproof cameras escalated to safeguard and monitor activities near home, which in turn boosted the global market demand. The increased adoption and implementation of weatherproof cameras in organizations for safeguarding employees outside and within working premises have soared up the weatherproof camera industry growth. The rising demand for the weatherproof camera market will upsurge the potential of the global industry in the coming times.
The weatherproof camera market is skyrocketing at a rapid pace all around the world due to the growing infrastructure development in the cities. The surging of businesses all around the world is another factor that drives the industry growth. The weatherproof cameras provide high-quality footage similar to the clear footage provided by indoor environment cameras. High-quality footage clarity and long-lasting camera life raise the demand of the global industry.
Organizations are adopting these cameras to ensure the safety of their workers inside as well outside of the working premises. According to the weatherproof camera industry analysis, the increased implementation of these cameras in organizations has resulted in the expansion of the weatherproof camera industry size.
The weatherproof camera industry forecast reflects that the government initiatives taken to safeguard all citizens from foreign attacks have resulted in the elevation of the weatherproof camera market share. With the adoption and implementation of weatherproof cameras, border security can be strengthened, which will, in turn, raise the global market demand. Recent developments in the weatherproof camera market trend are helping to escalate the potential of the market in the next many years.
The durability of the weatherproof cameras and the capability to sustain all the weather conditions has surged the market demand. The adoption of these cameras has increased mostly by the security agencies, government organizations, photographers, enterprises which is fuelling the growth of the industry.
The coronavirus outbreak has impacted the weatherproof camera market and created a major restraint in the growth path of the market. During the lockdown, industrial operations were shut down, which incurred heavy financial losses and disturbed the entire supply chain. However, the increased adoption of weatherproof cameras for home surveillance contributed to maintaining a steady growth rate of the global market.
The global market is emerging rapidly all across the globe due to the advantageous qualities of the camera and a wide range of applications. However, the weatherproof camera market possesses certain limitations which can hinder the growth of the market. The cost of the weatherproof cameras may seem expensive to many that can hamper the expansion of market size during the forecast period. Implementing these cameras helps in monitoring the activities in challenging times, but the consequent actions need to be done by the users only. Such limitations can constrain the market growth in the forecast years.
Value Chain Analysis
According to the weatherproof camera industry forecast, the revenue generated from the global market over the past years shows that the market growth is progressing at a faster rate. In few more years, the global market value will reach optimum levels and will surpass the previous historical growth rate. By the end of 2023, the weatherproof camera market demand will soar up to greater heights and attain its momentum.
The global market is fragmented into different segments on the basis of application, product, and range. The weatherproof camera market segmentation on the basis of application involves residential, commercial, industrial, and others. On the basis of the product, the weatherproof camera industry size segmentation includes dome, IR bullet, high-speed cameras, and many more.
Out of all of these, the high-speed camera market is expected to rise to a greater extent as it contains biomechanics that captures fast-moving objects. High-speed cameras are widely used in sports science for movement analysis and are seen in television for measuring height and speed. Such camera usage can also be seen in television for slowing down faster objects to make them visible to the naked eye. The weatherproof camera industry segmentation on the basis of the range comprises of different variety of ranges such as range below 50 feet, range up to 100 feet, and range more than 100 feet.Recent Development
The new 64MP Pi Hawk-eye Camera from ArduCam brings phone-style resolution to Raspberry Pi cameras for the first time.
Chrome Industries has released the Niko Camera Backpack 3.0. which is designed for street photographers and videographers; it's bigger and designed to be more customizable and therefore more comfortable.
Amazon, Adorama and B&H Photo have discounted a handful of Google intelligent home gadgets, including the Nest Cam Indoor, which is $20 off and down to $80.
The weatherproof camera market analysis is studied in several geographies like North America, Asia-Pacific, Europe, and the remaining parts of the world. In North America, a large number of camera manufacturers are available in the market, which raises the demand for a global market. The availability of a large number of competitors contributes to the global market share increase in North America. The Asia-Pacific region is the fastest-growing weatherproof camera industry owing to the subsequent rise in camera manufacturers and infrastructure development. This will help in the growth of the weatherproof camera industry share during the forecast years.
Competitive Landscape of the market
The weatherproof camera market major market players are:
The product offers efficient motion detection, which is supposed to drive market growth.
Increasing investments in safety and surveillance is expected to expand the market.
The CAGR expected to be registered by the market is 7%.
This analysis suggests that the market size is expected to be USD 9 Bn by 2023.
A. The segments based on product are - IR bullet, high speed cameras, dome, array, and others