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IP Camera Market Size By Product (Fixed, PTZ, Infrared), By Connection (Centralized, Decentralized), By Application (Residential [Home Security, Smart Home], Commercial [Retail, Industrial, Healthcare, Real Estate], Public/Government [Transportation, BFSI, Education, Government Facilities]), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

  • Report ID: GMI2410
  • Published Date: Jul 2019
  • Report Format: PDF

Industry Trends

IP Camera Market size valued at over USD 8 billion in 2018 and will grow at a CAGR of 14% from 2019 to 2025. The global industry shipments are expected to exceed 100 million units by 2025.

IP Camera Market

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The emergence of thermal cameras and the penetration of IoT in video surveillance have led to a steep rise in the demand for Internet Protocol (IP)-based camera systems. The increased adoption of these cameras in commercial buildings and the need for security in residential applications coupled with the rising trend of smart homes are expected to drive the IP camera market over the coming years. Residential security is a major concern among homeowners owing to the escalating rate of home burglary and squatting. The growing number of smartphone users and the availability of attractive instalment policies for security solutions are driving the residential market. The key benefits of these cameras are remote video surveillance, intruder alarms, access control, and perimeter surveillance. With the growth in fast pace living within cities and the aging world population, surveillance at home has become ubiquitous in ensuring comfort and safety.

Interactive product releases and new product launches coupled with ongoing research & development (R&D) and innovation activities in the camera and networking technology are some of the key strategic initiatives adopted by market players. Remote monitoring, easy installation, cost-effective, and limitless storage capabilities have boosted the adoption of cameras across various industry verticals. Improvement in storage device capacities, such as server virtualization, decentralized storage solid state devices (SSD), and adoption of H.264 Advanced Video Coding standard, will drive the growth of the market. Users can view videos and images through any computer connected to the Internet (WAN) or within a local network (LAN) from anywhere in the world. These systems allow a higher degree of scalability and flexibility compared to an analog closed-circuit CCTV camera.

IP Camera Market, By Product

In 2018, infrared cameras accounted for around 30% of the global industry share. Rise in demand for infrared solutions in several industrial sectors such as military & defense, government facilities, and BFSI will drive the industry growth. These cameras are being widely adopted for enhancing the security & safety of business, residential or public facilities in low-light, and low visibility conditions. They allow governmental departments, such as traffic & surveillance units, to monitor road security during night-time. For instance, in February 2018, Delhi Traffic Police department announced its plans to introduce infrared sensor cameras for monitoring traffic volume on the roads and enhancing traffic security. Several players in the IP camera market are engaged in developing infrared solutions that are specifically designed for traffic monitoring & surveillance applications. For instance, FLIR Systems, Inc. is offering a wide range of thermal cameras that includes tactical & law enforcement system, traffic detection systems, and traffic monitoring systems.

IP Camera Market, By Connection

India IP camera industry by connection

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Decentralized systems are expected to witness high adoption in the market owing to the increasing number of video surveillance solutions being installed in facilities. Decentralized solutions consist of built-in storage feature that allows the data to be stored in a digital media storage device such as Network Attached Storage (NAS), flash drives, SD card or a Hard Disk Drive (HDD), reducing the cost of purchasing additional video recorder solutions. The enterprises are dependent on decentralized solutions due to increased flexibility and reliability to operate in multi-server environments, where only two or three cameras are involved. These businesses are focusing on implementing cost-effective security solutions that are encouraging them to shift to decentralized technologies, propelling the market demand.

IP Camera Market, By Application

The growing demand for advanced security technologies in the banking and finance sector is accelerating the IP camera market growth. This sector is anticipated to grow at a CAGR of 15% over the forecast timespan. The rise in bank thefts is encouraging financial institutions to implement modern camera solutions that can alert and inform the security personnel about unauthorized access to lockers. These systems provide recorded video footage that helps to identify suspects involved in bank thefts or other crimes witnessed in a banking facility. Several manufacturers in the industry are engaged in developing security solutions specifically designed for banking facilities. For instance, in February 2017, March Networks announced the launch of MegaPX Modular ATM Camera that provides sharp 3MP images with a three-foot vertical view of customers in all lighting conditions.

IP Camera Market, By Region

Asia Pacific IP camera market by region

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The Asia Pacific market will expand at a CAGR of 13% of the coming years owing to the increased adoption of modern security technologies for various applications such as home security, traffic monitoring, and city surveillance. Countries including India, Japan, and China are the major economies investing highly to incorporate surveillance cameras to curb the increasing crime rates. For instance, China Police has started installing new gait recognition surveillance technology that will recognize people by their walking style. The technology will help the police officials to identify individuals based on their body shape and movement from a distance of up to 50 meters. These advanced AI-based security solutions are helping the government officials to improve their surveillance operations.

Competitive Market Share

The key players participating in the IP camera market are ShenZhen Apexis Electronic Co., Ltd, Avigilon, Canon Inc., Bosch Security Systems, Hangzhou Hikvision Digital Technology Co., Ltd., Dahua Technology, Guangzhou Juan Intelligent, March Networks, Panasonic Corporation, Pelco by Schneider Electric, VideoIQ Inc., and Tyco International. The players in the market are engaged in providing diversified offerings to customers based on their business requirements. For instance, Bosc Security Systems is offering a wide range of Internet Protocol (IP) cameras including fixed camera, PTZ, panoramic, infrared, and special cameras in different models and specifications as per the business requirement.

Industry Background

The IP camera industry players are engaged in offering their solutions to a wide range of application segments such as retail, government, residential, and industrial. Industry-specific solutions are being developed to enhance business security and surveillance tasks. For instance, in February 2018, Arlo Technologies, Inc. announced its partnership with Eagle Eye Networks to develop an innovative commercial video surveillance technology that supports wired and wireless IP security devices. These commercial systems will witness a wide range of applications in different sectors such as retail, industrial, and healthcare. Moreover, several players are developing smart solutions that are witnessing high demand in the market. For instance, in May 2018, Xiaomi announced the launch of Xiaofang Smart IP Camera, that offers four real-time scenes at the same time. It also provides functionalities such as Wi-Fi, night vision, VR, and two-way voice support.

Authors: Preeti Wadhwani, Saloni Gankar

Frequently Asked Questions (FAQ) :

The market size of IP camera valued at over USD 8 billion in 2018.

The industry share of IP camera will grow at a CAGR of 14% from 2019 to 2025.

Growing security threats across the U.S., evolving manufacturing practices in Europe, and declining security camera prices across the APAC are expected to drive the market demand.

According to estimations by GMI, the global industry shipments are expected to exceed 100 million units by 2024.

The APAC market will expand at a CAGR of 13% till 2025 owing to increased adoption of modern security technologies for various applications such as home security, traffic monitoring, and city surveillance.

Increasing occurrence of bank thefts is pushing financial institutions towards IP camera solutions which can alert security authorities about any unauthorized access to institution vaults and lockers.

Decentralized systems are considerably cost effective, which has earmarked them to witness significant sales growth as many businesses are focusing on adoption of affordable security solutions.

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Premium Report Details

  • Base Year: 2018
  • Companies covered: 22
  • Tables & Figures: 665
  • Countries covered: 19
  • Pages: 400
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