IP Camera Market

Global IP Camera Market Size (2024 to 2032)

The global IP camera market was worth USD 15.40 billion in 2023. The global market is projected to hold a market share of USD 17.56 billion in 2024 and USD 50.09 billion by 2032, growing at a CAGR of 14% during the forecast period.

IP camera stands for Internet Protocol Camera. It is a digital video camera mainly used for surveillance in many enterprises such as government facilities, military and defense, corporate workplaces, public sites, and residents. IP cameras provide 24 hours of security, and their ability to work under harsh environmental conditions boosts the market. The increased rate of crime in the world is helping the growth of the market as nowadays many citizens are willing to invest in an IP camera for advanced all day around protection for their homes.

MARKET DRIVERS

The major driver for the IP camera market is the increased demand for smart housing systems. The increased risk of crimes such as burglary and theft in both the corporate and public sectors attracts customers to invest in IP cameras. Both developed and developing countries governments are investing in the market to provide maximum safety and security to their citizens and try to curb crime. IP camera’s advanced features, such as its adaption to dark and light environments, drive the market. The manufacturers' interest in inventing specifically for traffic monitoring and banks is helping drive the market.

MARKET RESTRAINTS

The main restraint on the global IP camera market is its high installation and maintenance costs. IP cameras have a difficult configuration system, which makes them difficult for customers to use. The increased number of low-cost and inferior-quality IP cameras from local players is setting back the market. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global IP Camera Market Analysis By Product Type

The IP camera market by product type is segmented into Non Mechanical Pan Tilt Zoom (PTZ) Cameras, Pan Tilt Zoom (PTZ) Dome Cameras, Fixed Cameras, Fixed Dome Cameras, and Infrared Cameras. The infrared camera is expected to have the largest market share of 30% by product type during the forecast period. This is due to the increased demand of for safety and security of employees, business and other government and public facilities. These cameras are mainly used in the military and defense to alert the army if there has been an unauthorized action or entry. The manufacturers of the IP camera industry are working on prototypes for traffic monitoring and surveillance; this helps the government monitor road safety and security both during the day and at night time. The Indian government has introduced infrared sensor cameras to enhance traffic security and monitor traffic volume on roads in its capital state, New Delhi, with the help of the Delhi Traffic Police Department.  

Global IP Camera Market Analysis By Connection

IP camera market by connection is segmented into centralized and decentralized. Decentralized connection systems are likely to record the most substantial share over the anticipated years due to the rising call for video surveillance in corporate and public places. Decentralized connection systems contain inbuilt storage features such as SD card, Hard Disk Drive (HDD), Flash Drives, and Network Attached Storage (NAS); this not only is size friendly but is also cost-efficient; the consumer does not have to buy an additional video recorder for the purpose. Decentralized IP cameras are flexible and can work in extreme and multi-server environments. Many enterprises are propelling towards shifting to the decentralized IP camera for cost-efficient video surveillance solutions.  

Global IP Camera Market Analysis By Application

IP camera market by application is segmented into residential, commercial, public, and government. The public and government sectors are expected to hold the largest market share by application. The public and government sector is further segmented into transportation, BFSI (banking, financial services, and insurance), education, and government facilities. Among these, the banking, financial services, and insurance sector is foreseen to develop at a CAGR of 15% and record the largest share over the envisioned period. The increased risk of bank robberies is demanding banking officials invest in modern and innovative security service systems that not only provide recorded video footage to help identify the suspect but also alert security if there has been unauthorized access to bank lockers. The manufacturing companies of IP cameras are working on inventing new and advanced IP cameras, especially for banks, to improve security and safety. 

In addition to this, not only in banking services, but the government is taking the initiative to implement IP cameras in other residential and commercial places to ensure the safety and security of citizens and other monumental properties such as museums.

Next in line is the military and defense segment; due to increased global terrorism and attacks, the government is investing in IP cameras attached to drones to protect both the army and citizens.

REGIONAL ANALYSIS

North America had the largest market share of 35%, but due to the increased demand for adopting modern security solutions, Asia Pacific is expected to project and expand at a CAGR of 13% during the forecast period. Countries such as India and Japan are major investors in IP surveillance cameras to reduce crime in the areas. These cameras have the ability to identify an individual with the help of their movement and body shape within 50-meter ranges; this encourages other industries in the region to invest more in the IP camera market, which creates a hike in the Asia Pacific IP camera market in the future.

KEY PLAYERS IN THE GLOBAL IP CAMERA MARKET

Bosch Security Systems, located in the United States, is expected to be the market leader of the IP camera market during the forecast period because the company has observed a drastic growth in its IP camera and expanded accordingly in 2017.

Arecont Vision Costar LLC., Avigilon Corporation, Canon Inc. (Japan), Belkin International Inc. (United States), Bosch Security Systems (United States), Zhejiang Dahua Technology Co. Ltd. (China), D-Link Corporation (Japan), GeoVision Inc. (Japan), Hangzhou Hikvision Digital Technology Co. Ltd. (China), Honeywell International Inc. (United States), Guangzhou Juan Intelligent Joint Stock Co. Ltd (China), March Networks Corporation (Canada), MOBOTIX AG (Germany), Netgear Inc. (United States), Pelco by Schneider Electric (United States), Samsung Electronics Co. Ltd. (South Korea), Shenzhen Apexis Electronic Co. Ltd. (China), Shenzhen Wanscam Technology Co. Ltd (China), Sony Corporation (Japan), Vivotek Inc. (China), Axis Communications (Sweden), Panasonic i-PRO Sensing Solutions Co. Ltd. (United States), Techwin (South Korea), Z3 Technology LLC (United States), VideoIQ Inc. (United States), and Toshiba (Japan).

RECENT HAPPENINGS IN THE GLOBAL IP CAMERA MARKET

• Bosch Security Systems, in February of 2017, has partnered with Sony Corporation to develop advanced security solutions with the help of Sony Corporation’s unquestionable skills in modern camera technology.

• NTT East, a leading Japanese telecom company, partnered with Earth Eyes Corporation to build an AI security system that will bring a new level of revolutionary change to the IP camera market.

DETAILED SEGMENTATION OF THE GLOBAL IP CAMERA MARKET INCLUDED IN THIS REPORT

This research report on the global ip camera market has been segmented and sub-segmented based on the product type, connection, application, and region. 

By Product Type                

• Non-Mechanical Pan Tilt Zoom [PTZ] Camera           
• Pan Tilt Zoom [PTZ] Dome Camera               
• Fixed Cameras       
• Fixed Dome Cameras         
• Infrared Camera   

By Application                    

• Residential              
• Commercial            
• Public And Government    

By Connection                    

• Centralized             
• Decentralized        

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa