08 Oct Global IP camera market worth over $20bn by 2025
The IP camera market is set to grow from its current market value of more than $8 billion to over $20 billion by 2025; as reported in the latest study by Global Market Insights, Inc.
Rise in the demand for modern security solutions to enhance road security and city surveillance is driving the adoption of network camera technologies with government administrations across the world incorporating surveillance solutions for the safety of streets.
With the increasing adoption of centralised security solutions in large enterprises, the IP camera market is expected to witness a high growth over the coming years. These solutions are being widely installed in facilities with multi IP camera platforms.They store recorded data on a separate Digital Video Recorder (DVR) or Network Video Recorder (NVR) devices, making it more expensive in comparison to the decentralised technologies.
However, centralised solutions allow businesses to manage and store the recorded data from all the installed cameras in a single platform, increasing accessibility and flexibility in data management and analysis. Additionally, the increased adoption of centralised systems for home surveillance applications is also a major factor augmenting the market growth.
The major players operating in the IP camera market are Tyco International, VideoIQ Inc., Pelco by Schneider Electric, Panasonic Corporation, March Networks, Guangzhou Juan Intelligent, Dahua Technology, Hangzhou Hikvision Digital Technology Co., Ltd., Bosch Security Systems, Axis Communications AB, Avigilon, and Shenzhen Apexis Electronic Co., Ltd.
For more info visit: www.gminsights.com/industry-analysis/ip-camera-market