Wireless Security Cameras Market Forecasts to 2028 – Global Analysis By Offering (Monitor, Software, Services and Hardware), Camera Type (Fixed, Pan-tilt-zoom (PTZ) and Other Camera Types), Application, End User and By Geography
According tStratistics MRC, the Global Wireless Security Cameras Market is accounted for $7.7 billion in 2022 and is expected treach $17.3 billion by 2028 growing at a CAGR of 14.4% during the forecast period. Wireless security camera can be defined as closed-circuit television camera which transmits a videand audisignal ta wireless receiver through a radiband. Various wireless security cameras require at least one cable or wire for power. Wireless security cameras can be powered using a wireless transmitter or batteries. Wireless security cameras consist of various components including hardware, software, and videsurveillance as a service. Some of the commonly available wireless security cameras include Box Camera, Dome Camera, PTZ Camera, Bullet Camera, IP Camera, and Day/Night Camera among others.
According ta study by the University of North Carolina at Charlotte, security cameras are the most effective deterrents against break-ins, with 50% of respondents saying they would give up their attempts if they noticed a camera.
Market Dynamics:
Driver:
Growing awareness of security and safety
The rise in crime rates has caused consumers tpay more attention tsafety and security solutions, especially in residential areas. Homeowners are choosing smart home products like smart alarms, smart cameras, and smart lockers for more safety and security. Also, the integration of technology innovations with security cameras will offer more versatility, which further fuels market expansion.
Restraint:
Disruption of signals
Wireless IP cameras use a single frequency tfunction. If there are other networks present, like as the internet or microwaves, there is a high probability that the signals may be disrupted. The possibility of hacking may exist if the camera is not adequately secured. Due tdisruptions, the videmight not be of the highest quality. Hence, these are the factors restraining the growth of the market.
Opportunity:
Wireless Cameras are more Flexible
The lack of wires in the technology makes it the most apparent benefit provided by wireless cameras. Wireless camera installation is relatively simple, takes significantly less time, and allows for camera positioning in any direction. These cameras have more versatility because they can be installed anywhere you want because there are nwires involved. Thus, these are the factors driving the growth of the market.
Threat:
Prone tInterference
Environmental factors, such as dust storms or fog, significantly raise the possibility of interruption and jamming in wireless networks. When there are tomany users in one region, the air band that the signals are transmitted across can become overloaded. Also, compared twired networks, the wireless network's speed is slower. File sharing and transfer are substantially slower on a wireless network are the factors hampering the market growth.
Covid-19 Impact
The COVID-19 outbreak had a substantial influence on global manufacturing processes, trade, and supply chains for raw commodities. Due tthe market players' need tclose manufacturing facilities or run them at less than optimal production levels in order tprevent the spread of the corona virus, the production of wireless security cameras fell during the pandemic. However, the product demand has increased with the relaxation of trade restrictions because it allows consumers twatch everything at home.
The pan-tilt-zoom (PTZ) segment is expected tbe the largest during the forecast period
The pan-tilt-zoom (PTZ) segment is estimated thave a lucrative growth, due tthe growing awareness of the advantages of employing cameras. These cameras are typically used in conjunction with a fixed camera tclose coverage gaps and are used tmonitor a large region. Ttrack shady activity, these cameras can be manually and remotely adjusted. Moreover, the growing demand for sophisticated features like HD resolution and night vision in these cameras is propelling the expansion of this market.
The outdoor segment is expected thave the highest CAGR during the forecast period
The outdoor segment is anticipated twitness the fastest CAGR growth during the forecast period, due tits benefits. Outdoor cameras are security tools that can spot and document shady neighbourhood activity. These tools could be used for more than simply crime-related recording. The majority of security cameras had infrared night vision, increasing demand for wireless security cameras for outdoor use. Security cameras produced clear images in all lighting circumstances.
Region with Largest share:
Asia Pacific is projected thold the largest market share during the forecast period owing tincreasing infrastructure development. Increasing urbanisation and rising purchasing power are propelling regional market expansion. In addition tthe growing trend of smart homes, the demand for smart devices for home automation and security is expected tdrive market progress in the region.
Region with highest CAGR:
North America is projected thave the highest CAGR over the forecast period, owing tthe rising number of nuclear families. With the deployment of two-factor authentication, which is boosting the market, the security has been boosted in response tseveral automated account robberies. With rising urbanisation and investments in smart homes, the region is alsexperiencing rapid industry growth.
Key players in the market
Some of the key players profiled in the Wireless Security Cameras Market include CiscSystems Inc., Lenovo, Koninklijke Philips N.V., D-Link Systems Inc., Canon, Inc., Axis Communications AB, Honeywell Security, Panasonic Corporation, Flir Systems, Inc., Crystal Vision, Bosch Security Systems Gmbh, Logitech International S.A., Night Owl Security, Dropcam, Inc., CCTV Cameras Pros, Teklink Security and Lorex Technology Inc.
Key Developments:
In May 2022, Leica and Panasonic Signed Strategic Comprehensive Collaboration Agreement, and Develop L2 Technology as Symbol of the Collaboration. Both companies are committing tincrease their collaboration of their core competencies and tdevelop new technologies and solutions resulting from this collaboration under the name of L2 Technology which symbolically uses the twL of LEICA and LUMIX in their marketing activities going forward.
In July 2021, IBM and Canon, Inc. announced that the twcompanies will start a new collaboration tmake high-quality digital videcontent creation more accessible with the use of volumetric videtechnology in entertainment and the arts through a joint go-to-market effort.
Offerings Covered:
• Monitor
• Software
• Services
• Hardware
Camera Types Covered:
• Fixed
• Pan-tilt-zoom (PTZ)
• Other Camera Types
Applications Covered:
• Outdoor
• Indoor
End Users Covered:
• Educational Institutes
• Industrial
• Commercial
• Hospitals
• City Infrastructure
• Residential
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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