Increasing physical threats, thieveries, and robberies are a major concern among governments and industries. Installation of internet protocol (IP) camera in public areas as well as inside the industrial campus to monitor any unusual activities stroking the demand for IP cameras which is driving the IP camera market growth. As per the findings of a newly published market research report by IndustryARC,it is estimated that the global
IP camera market size lies in the range of $5 billion to $7 billion in 2018, and projected to grow with a CAGR of 18% to 22% during the forecast period of 2019 to 2025.
IP camera or Internet Protocol camera is usually a digital video camera that is used for surveillance. IP camera obliges provision of a central network video recorder (NVR) to handle and maintain the video recording, and alarm management. IP Camera can detect unusual activities and suspicious individual and can help catch the criminals by gathering clues and evidence. It imparts minute details and provides better resolution as compared to the normal closed-circuit television (CCTV) camera.
Global IP Camera Market Companies: Recent Developments
- Bosch Security Systems: A Smart Industry 4.0 Solutions
Earlier, it was difficult for the security manager to keep check of every item manually or to track video footage to detect the events. Bosch Automotive used the Internet of Things (IoT) to create the solution. The methodology combines Bosch cameras configured with Bosch video management system (BVMS) with built-in function “intelligent video analytics” technology and an interface to a centralized warehouse management systems. The built function processes the image data to detect suspicious events by means of an algorithm. This technology is a revolution in the IP camera market which helped many companies by providing security in real time against theft.
- Axis Communications: F101-A XF P1367 Explosion-Protected Network Camera
The Camera by Axis Communications helps to identify the unauthorized individuals and monitor employee safety in hazardous areas such as factories and refineries. This camera enables to visually monitor manufacturing efficiency and verify information from sensor systems. The main feature of the camera is its low weight and excellent image quality regardless of lighting conditions. This solution is based on sound, analytics, and sight that helps to improve security and optimize business performance.
- Panasonic Security Systems: Multi-Sensor Camera
Panasonic offers multi-sensor camera “New H.265 Series” contains four lenses that enables monitoring with minimized blind spots through tilt angle adjustment mechanism, and cover a wide angle of view with high-resolution images in a single enclosure such as in parking, building, airport, and station. The multi-sensors camera is the latest trends driving adoption of IP cameras over their analog counterparts.
Panasonic also introduced face recognition system known as FacePRO. It can identify faces that are difficult with common security cameras. The specific face can be registered in the system in advance to send an alert when the face is detected. This feature is gaining traction from the government, to detect criminals and terrorists.
Global IP Camera Market: Growth Drivers
Increasing government investments to improve security and rise in demand for smart homes are major factors behind growing IP camera demand. The electronic point of sale and automatic number plate recognition are poised to offer opportunities for IP camera market. These webcams are widely used by small retail shops to monitor and track theft. Several features of advanced closed-circuit television (CCTV) such as two way video audio via the network cable, 360° angle, distributed artificial intelligence to analyze the images and better image resolution are some significant factors poised to grow the IP camera market.
Global IP Camera Market: Leading Segments
Recent research by the market analyst of IndustryARC focused, commercial sector to be the key application to hold the largest IP camera market share with a growing CAGR of around 34% to 36% through to 2025. Furthermore, North America is positioned as the leading marketplace with a global market share ranging between 24% - 25% as of 2018.
Conclusion
IP camera is the network-based camera used for surveillance. Features such as 360° angle and distributed artificial intelligence to analyze the images and better image resolution are some significant factors poised to grow the IP camera market. Usage of IP camera in the commercial sector is the growing the demand of the market. Government investing to build fully secured infrastructure because security officials can’t be present physically all the time is another factor for IP Market growth.
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