The increasing number of smart cities, parking garages, bus stops, airport, and other transportation spaces are gaining momentum in terms of adoption of IP cameras. Additionally, financial institutions, banks, and multinational companies are driving growth of the market, owing to the ease in installation and configuration, and a continuous decline in the prices of these cameras. A recent business intelligence report from IndustryARC estimates that the global IP camera market value is expected to swell up to $27.1 billion by 2025, with the revenue growth at a CAGR of 15.34% during the forecast period 2019-2025.
Browse IP Camera Market Report Link: https://www.industryarc.com/PressRelease/1206/IP-Camera-Market-Research-Analysis.html
The IndustryARC’s recently complied business intelligence report titled “
IP Camera Market: By Product (Fixed Cameras, PTZ Cameras, Infrared (IR) Cameras); By Mounting (Wall mounts, Ceiling mounts, parapet mounts, Pole mounts); By Technology (DVR Technologies, PC Based DVR, Hardware based DVR); By Application (Residential, Commercial, Public/Government and others)- Forecast (2019-2025)” highlights that the growing government initiatives and projects related to smart and safe cities are offering ample growth opportunities. Moreover, the growing commercial buildings, small and medium enterprises are improving the economic conditions and amplifying the deployment of IP cameras in the market. And, the market is subjugated to grow at substantial growth in the future due to rising applications in the construction sector.
IP Camera Market: Market Trends and Growth Drivers
· Rise in the number of terrorist attacks, theft incidents in the financial institutions, and banks have increased the demand and supply of the IP cameras in the market. 24/7 monitoring and surveillance enables the security professionals to prevent any such criminal activities. This has propelled the demand for IP camera market.
· With digital electronics advancement, the recent cameras are well-equipped with high quality coupled with other benefits. As these cameras provide crisp resolution and detailed images. These key factors have replaced the analog cameras with the digital camera and is also one of the major driving factor for growth of the IP camera market.
· In the region like MENA, the government is particularly stringent about the security. The IP camera market is influenced by the governments’ stringent rules and the regulations. This already has a huge market in Abu Dhabi, Dubai, and Sharjah.
· APAC is an emerging region with the fastest growing construction industry. It is witnessing enormous amount of constructions of commercial and industrial building, hence the region is adopting the IP cameras for security and simultaneously letting the market demand grow.
IP Camera Market: Competitive Landscape
Some of the prominent key companies identified in the report are Avigilon Corporation, Axis communication AB, Bosch Security Systems Inc., Honeywell International Inc., Flir Systems, Hanzhou Hikvision Digital Technology Co., Ltd., Microsemi Corporation, and Panasonic Corporation.
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