Josh Turner

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Josh Turner is a freelance writer with a passion for delivering detailed research-driven content for clients around the world. He has extensive experience producing outstanding B2B and B2C content for Fortune 500 companies, innovative startups, and emerging global players across a diverse range of markets and industries. LinkedIn: https://linkedin.com/in/joshturnerwrites
November 4, 2019

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IP camera market records $20 billion market value by 2025

The global IP camera market is projected to achieve a market value of US$20 billion by 2025, up from US$8 billion in 2018, revealing remarkable potential of this growing segment in the surveillance market.

The global internet protocol (IP)The global internet protocol (IP) camera market is projected to reach a market value of US$20 billion by 2025 according to a recent market report by Global Market Insights.

That represents a substantial growth of 14% compound annual growth rate (CAGR) from US$8 billion in 2018, with industry shipments expected to exceed 100 million units globally by 2025.

IP cameras operate by integrating over computer networks, providing a flexible alternative to local recording or wired analogue cameras, positioning this technology as an increasingly attractive surveillance solution.

Growing diversification of IP camera technology is driving growth through multiple key markets. A rise in demand for security across transport and urban infrastructure is leading to widespread adoption of network cameras, part of the growing internet of things (IoT) transformation which is delivering widespread impact in the security industry.

Countries such as India and China represent major drivers of growth, as civil authorities adopt IP camera solutions to meet their security and surveillance needs. China alone is home to an estimated 200 million surveillance cameras, as this developing superpower increasingly turns to technological solutions to tackle its multifaceted civil challenges. Neighbouring India is also expected to provide a lucrative growth market in coming years, as the nation rolls out controversial plans to develop the world’s largest facial recognition network. Ambitions to enhance surveillance include an estimated 280,000 cameras set to be installed in the Indian megacity Delhi, with 140,000 of that number expected to be installed in the sprawling city by the end of 2019.

Infrared IP cameras are another area predicted to enjoy significant growth potential. These solutions make up an estimated 30% of the overall IP camera market today, and their suitability for low-light and night conditions is expected to provide a further catalyst for growth.

Civil and security authorities represent a major market for these technologies, as governments and police forces look to increasingly innovative tech-driven solutions for reducing accidents, improving urban infrastructure and tackling crime. That includes municipalities such as Singapore, where plans to install surveillance cameras with facial recognition technology on over 110,000 lampposts throughout the city-state are currently under review.

Centralised security solutions in large enterprises represent another facet of this developing market. Sectors such as banking and finance, with a projected CAGR of 15% from 2019-2025, are turning to centralised IP camera solutions in order to leverage the ability to manage and store data recorded on multiple devices in a single platform. While these centralised solutions can be more expensive than decentralised alternatives, they provide a valuable opportunity for large enterprises which often operate multi-IP camera platforms using a substantial number of devices spread across large or multiple sites.

North America remains a dominant market for the IP camera industry in 2018, with a 35% market share, and trends towards digitisation and digital industry offering substantial emerging opportunities. Wider economic growth will see expanding SMEs and larger enterprises in the United States amplifying this demand as a need for security solutions grows. Expansion and automation of retail outlets owned by industry leaders such as Wal-Mart, Costco Corporation and Kroger Company provide opportunities for notable market growth.

IP cameras provide solutions which are becoming increasingly synonymous with our connected modern world. The integration of smart networks as part of the growing push for ‘smart cities’ is another major global trend driving adoption of this technology. IP cameras will play an important role as nations and municipalities look to smart technology to improve efficiency and enhance living standards in cities. That trend will likely accelerate as urbanisation continues, with the United Nations predicting that urban areas will be home to 68% of the global population by 2050, up from 55% today.

Like any element of the security and surveillance industry, increasing crime rates represent another catalyst driving industry growth in IP camera sales. A rise of theft and burglaries in countries such as Sweden, Uganda, Italy and Tanzania is driving adoption in residential markets. Meanwhile, leading global markets such as China and the United States continue their trend of high installation rates for IP cameras, providing reliable and escalating demand.

The popularity of IP cameras continues to grow, framed by a world where connectivity is driving widespread adoption of connected devices. With a market value projected to more than double to exceed US$20 billion over the next six years, manufacturers, retailers and installers of IP cameras can be confident that they are connecting to a lucrative opportunity.

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