Market Trends of Surveillance Camera Industry
IP Camera Segment to Hold a Significant Market Share
- IP camera is a type of camera that is connected to a network through a high-speed Ethernet connection. It transmits its data to the primary server or computer via an Internet or network connection. IP cameras are commonly used in Internet Protocol (IP) surveillance, closed-circuit Television (CCTV), and digital videography.
- The emergence of surveillance tools, including video analytics, IP Cameras, and other video management solutions, is anticipated to grow in demand as individuals and organizations globally continue to invest more in advanced technologies for enhancing public safety in urban areas. For instance, in recent years, public safety organizations and governments across the globe have made decisions to invest in surveillance cameras and software to improve the general security of their citizens by monitoring transit hubs and other prominent public places.
- IP-based surveillance cameras are paramount in cybersecurity, and stringent regulations are in place to ensure that these systems are not compromised. For instance, in April 2024, Ajax Systems introduced a new range of wired security IP cameras, focusing on high-definition surveillance and robust privacy protections. The product lineup includes the TurretCam, BulletCam, and DomeCam Mini, each offering distinct specifications. These cameras are designed for versatility, featuring an IP65 rating suitable for indoor and outdoor applications. They incorporate a password-less authentication system, ensuring a seamless and secure setup. Additionally, these cameras are equipped to address various video surveillance requirements.
- Surveillance cameras are vital components of any security system. Surveillance cameras can deter potential criminals, giving them a moment of doubt that is often sufficient to prevent them from committing crimes. Hence, the growing crime rate at residential and commercial premises is also anticipated to drive the demand for IP cameras. For example, in Japan, the police recorded 44.23 thousand grand theft offences in 2023, of which about 17.5 thousand were related to burglaries on non-residential properties.
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Asia Pacific Expected to Hold Significant Market Share
- The smart city infrastructure in the Asia-Pacific region is increasing, as countries like India, South Korea, and China, among others, are significantly increasing their investments in innovative city initiatives. Countries in the Asia-Pacific region are also increasing investments in intelligent security technologies to reduce criminal activity.
- For instance, China is among the leading countries in terms of surveillance camera infrastructure, with an estimated 700 million cameras, which equates to one camera for every two people in the country. The prevalence of surveillance cameras in China has dramatically increased since the pandemic's onset, as the demand for cameras designed to detect when individuals are wearing face masks or crossing the road before the green light for pedestrians has increased significantly.
- Similarly, in December 2023, as part of the Delhi government's CCTV project, over 2.46 lakh cameras were installed across the 70 Assembly constituencies in the national capital. The Public Works Department, responsible for this initiative, has set a target to install 2.80 lakh CCTV cameras citywide. Of the approved 2,68,462 cameras, 88%—totalling 2,46,424 units—have been successfully installed in the project's first two phases.
- As surveillance cameras are now available with remote access features, new use cases are increasingly being identified, supporting the studied market's growth. For instance, the Ministry of Manpower (MoM) in Singapore announced that from June 2024, it would be mandatory for construction companies to install video surveillance systems at construction sites for projects valued at USD 5 million or more. According to the ministry, the decision has been taken to improve worker safety.
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