AI Drives Transformation in the Network Camera Market, Expected to Grow by USD 33 Billion from 2024 to 2028 Due to Rising Demand for Video Surveillance

NEW YORK, Sept. 26, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global network camera market  size is estimated to grow by USD 33 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 13.57%  during the forecast period.  Increasing demand for video surveillance systems is driving market growth, with a trend towards rising adoption of 5g technology. However, lack of awareness among end-users about advanced technologies in security solutions  poses a challenge. Key market players include Arecont Vision Costar LLC, Avigilon Corp., Axis Communications AB, Basler AG, Belkin International Inc., Cisco Systems Inc., Dahua Technology Co. Ltd., Eagle Eye Networks Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Corp., Honeywell International Inc., Johnson Controls International Plc., MOBOTIX AG, Netgear Inc., Panasonic Holdings Corp., Pelco Inc., Robert Bosch GmbH, Shenzhen Gospell Smarthome Electronic Co. Ltd., Sony Group Corp., and Teledyne Technologies Inc..

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Key Market Trends Fueling Growth

The global network camera market is witnessing significant growth due to the emergence of 5G-enabled cameras. These innovative cameras transmit audio and video signals via 5G networks, which are gradually being deployed in various countries. A limited number of these 5G network cameras are currently available, but they offer faster and higher quality video transmission. Furthermore, the latest Internet protocol camera technology is gaining popularity, and the integration of 5G cameras with mobile applications is expected to enhance their effectiveness and user-friendliness. These technological advancements will fuel the expansion of the network camera market in the coming years.

The Network Camera Market is experiencing significant growth due to increasing demands for video analytics in various sectors. Key industries like transportation and logistics, government and public, mining, oil and gas, automotive, and manufacturing are adopting network cameras for critical monitoring and surveillance. Wired connection, artificial intelligence technology, and hardware components such as camera lenses and mountings are essential hardware requirements. Security threats, cyber-attacks, and data privacy attacks are driving the need for advanced software customization, operational training, installation, and safety features. Fixed cameras, pan-tilt-zoom cameras (PTZ), infrared cameras, and centralized segmentation are popular choices. The residential and commercial sectors also contribute to the market. Camera lenses manufacturing, Local Area Network, secondary storage, and malicious activities such as thefts, terrorist activities, and felons are other market trends. Higher resolution, wider angles, inspection, and surveillance market growth continue, with centralized and decentralized networking, advanced software, artificial intelligence (AI), robotics, and safety features shaping the future. 

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Market Challenges

• The Network Camera Market faces a significant challenge due to the limited awareness about advanced security technologies, such as wireless video surveillance and network cameras. This lack of understanding can hinder organizations from recognizing potential security risks and threats, making it crucial to promote awareness. In developing regions, the absence of awareness about potential security breaches and the resulting loss of confidential data is particularly prevalent. To address this issue, vendors must engage in promotional activities like trade fairs, seminars, and webinars to educate businesses about these technologies. Neglecting security can have severe consequences for any organization. Failure to spread awareness about network cameras may hinder their widespread adoption and negatively impact market growth during the forecast period.
• The Network Camera Market is experiencing significant growth due to the shift from traditional analog format to digital systems. Key challenges include ensuring compatibility with WI-FI and internet network connections, while maintaining HD quality and dynamic light-weight levels. Camera features such as remote focus, AI, IoT, face detection, and body detection are becoming essential. Hardware components like Pan-Tilt-Zoom (PTZ) and field of view are critical for effective video surveillance solutions. The services segment, including service providers, is a growing area, with infrared solutions popular in industrial sectors like military and defense, government facilities, and smart city projects. Consolidated and distributed segment offerings include master databases, decentralized solutions, and video surveillance solutions. Market trends include IP protocol networks, road traffic monitoring, industrial operation monitoring, and domestic surveillance. Challenges include ensuring cloud storage space and high-definition format capabilities, such as 16 megapixels. Traditional CCTV cameras with physical recording devices are being replaced by internet protocol cameras. The commercial segment targets retail theft prevention, while the residential segment focuses on home security. Overall, the market is evolving to meet the demands of various industries and applications.

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Segment Overview 

This network camera market report extensively covers market segmentation by

1. End-user 
• 1.1 Public
• 1.2 Commercial
• 1.3 Residential
2. Component 
• 2.1 Software
• 2.2 Hardware
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Public-  The demand for network cameras in the public sector is increasing due to the need to ensure safety and security. Video surveillance using network cameras enhances situational awareness, prevents criminal activities, and simplifies response to emergencies. Government offices and organizations, as well as public infrastructures, are major adopters of network cameras. These include highways, streets, bridges, stadiums, parks, prisons, and transportation facilities. The threat of terrorism and criminal activities has encouraged the deployment of network cameras in prisons, correctional facilities, airports, railway stations, and bus depots. Network cameras enable effective access control, analytics, and passenger load management in transportation facilities. They also help prevent unlawful activities such as pickpocketing, vandalism, theft, and disorderly public behavior. The traffic department is a significant user of network cameras, using them for vehicle counting and traffic violation monitoring. These factors are driving the growth of the network camera market in the public sector.

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Research Analysis

The Network Camera Market has witnessed significant growth due to the increasing demand for advanced security solutions in various sectors. Network cameras, also known as IP cameras, offer several advantages over traditional CCTV cameras, including remote access, real-time monitoring, and integration with IoT technologies. These cameras are increasingly being used for residential security, particularly in metropolitan cities, to prevent home burglaries, squatting, and other malicious activities. Network cameras are also essential for industrial operation monitoring, road traffic monitoring, and central networking in large organizations. Mountable Wi-Fi cameras and smart IP cameras offer flexibility and ease of installation, making them popular choices for domestic surveillance. The market is driven by the need for cloud storage space and Local Area Network (LAN) connectivity for video surveillance. The IP protocol network enables seamless communication between cameras and secondary storage, ensuring reliable and secure data transfer. The market is expected to continue growing due to the increasing threat of terrorist activities and felons, making security a top priority for individuals and organizations alike.

Market Research Overview

The Network Camera Market is a growing sector in the security industry, focused on providing advanced video surveillance solutions for residential, commercial, and industrial applications. These cameras leverage networking and IoT technologies to deliver real-time, high-definition video monitoring. Mountable Wi-Fi cameras and smart IP cameras are popular choices for home security, while infrared solutions are preferred for low-light environments. Key features include dynamic light-weight levels, remote focus, and hardware components like camera lenses and mountings. AI technologies such as face and body detection enhance security systems, while services segment offers installation, operational training, and video analytics. The market caters to various industries, including metropolitan cities, commercial buildings, and industrial sectors like healthcare, transportation and logistics, mining, oil and gas, automotive, and military and defense. Network cameras offer consolidated and decentralized solutions, with cloud storage space and high-definition formats like 16 megapixels. However, concerns over cyber-attacks, data privacy attacks, and wired connection vulnerabilities persist. The market includes various hardware components like network connectivity devices and software customization services. Traditional CCTV cameras with physical recording devices are being gradually replaced by digital network cameras, offering more flexibility and advanced capabilities.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Public
• Commercial
• Residential
• Component
• Software
• Hardware
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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