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IP Camera Market Trends

Report ID: GMI2410
Published Date: Oct 2023
Report Format: PDF

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IP Camera Market Trends

IP cameras with higher resolutions, including 4K and beyond, have become increasingly common. This trend caters to businesses and consumers seeking advanced surveillance capabilities. Higher resolutions enable better identification of individuals and objects, making these cameras crucial for applications where precision matters, such as facial recognition systems and license plate recognition.

IP cameras are increasingly integrated into broader smart home ecosystems, connecting with other devices such as smart locks, sensors, and voice assistants. Integrated systems allow users to create comprehensive automation and security setups. Integration with voice assistants and smart home hubs is a growing trend. Moreover, mobile apps for IP camera systems are becoming sophisticated, offering intuitive interfaces and advanced features. Users can monitor their cameras, receive alerts, and control settings directly from their smartphones and tablets, enhancing the overall user experience.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

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.

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.

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.

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