IP Camera Market - By Product (Fixed, Pan-Tilt-Zoom (PTZ), Infrared), By Connection (Centralized, Decentralized), By Application (Residential, Commercial, Public/Government) & Forecast, 2023 – 2032

Market size for IP camera was valued at over USD 9.5 billion in 2022 and is anticipated to grow at a CAGR of over 14.7% between 2023 and 2032, owing to the rising security concerns, both in residential & commercial sectors.

Hangzhou Hikvision Digital Technology Co., Ltd., Dahua Technology Co., Ltd., Axis Communications, Bosch Security Systems, Panasonic Corporation, Honeywell International, Inc., and Sony Corporation.

Asia Pacific market for IP camera is expected to grow at a lucrative pace over 2023-2032 as many cities in the region are investing in smart city initiatives to improve urban living and enhance public safety, boosting the product demand.

The centralized segment held a market share of around 50% in 2022 and is expected to grow at a lucrative pace through 2032, as the centralized connection allows businesses to manage and control multiple IP cameras from a single central location or server, simplifying monitoring, configuration, and maintenance processes.