Global Security Cameras Market to Hit USD 31.07 BN by 2030, with 18.30% CAGR from 2022 to 2030
Research Reports
Nov 10, 2023
Security Cameras Market Insights
The global security cameras market is likely to witness substantial revenue growth. The rising adoption of security cameras across commercial, residential, industrial, and infrastructural landscapes would drive market growth. Market Research Future (MRFR) confirms that the global security cameras market is poised to grow to USD 31.07 BN by 2030 from USD 9.58 BN in 2022, registering 18.30% CAGR throughout the review period (2022-2030).
Besides, the increasing awareness of the security cameras advantages drives the market’s growth. IoT in video surveillance has created a massive demand for IP-based camera systems. The increased adoption of IP surveillance in perimeter security and the rising trend of smart homes boost the market size. Law enforcement agencies are grappling with the inability to detect faces using surveillance devices.
The emergence of AI-powered thermal cameras substantiates the market growth. Also, industry players are developing AI-based solutions enabling enhanced detection & monitor. On the other hand, low awareness of advanced security solutions is a major factor projected to impede market growth.
Additionally, privacy and data breach concerns, alongside the costs associated with purchasing and maintaining security cameras, pose a challenge to the market’s growth. Nevertheless, increasing uptake of the advanced technologies would support market growth throughout the assessment period.
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Major Players
Leading security cameras market players are
- Motorola Solutions, Inc. (US),
- Hangzhou Hikvision Digital Technology Co. Ltd (China),
- Swann Communications Pty. Ltd (US),
- Arlo Technologies Inc (US),
- Shenzhen Leshi Video Tech. Co., Ltd (China),
- Godrej Security Solutions (India),
- ADT Inc. (US),
- Vivint, Inc. (US),
- Logitech International SA (Switzerland),
- FrontPoint Security Solutions, LLC (US),
- SimpliSafe, Inc. (US),
- Sony Corporation (Japan),
- Samsung Communications (South Korea),
- Toshiba America Information Systems, Inc (US), and
- Panasonic Corporation (Japan).
Global Security Cameras Market – Segments
The type segment is sub-segmented into infrared (IR) bullet cameras, dome security cameras, point tilt & zoom (PTZ) cameras, box security cameras, and wireless/IP cameras. The application segment is sub-segmented into indoor security cameras and outdoor security cameras. The resolution segment is sub-segmented into the high definition (HD) & full HD, and non-HD.
The professional service segment is sub-segmented into consulting, installation & deployment service, and maintenance & support service. The end-user segment is sub-segmented into residential/home, commercial/public space, industrial /manufacturing facilities, and others. By regions, the security cameras market is segmented into Europe, the Americas, Asia-Pacific, and the rest of the world.
Global Security Cameras Market – Regional Analysis
North America dominates the global security cameras market. The largest market share is attributed to the rising need for public and personal safety. Besides, the extensive adoption of advanced security cameras in residential, commercial, and industrial /manufacturing facilities drives the market’s growth in the region. Moreover, the spurting growth in end-use industries creates opportunities, allowing the market to grow colossally. The US market accounts for the dominating share in the region.
Global Security Cameras Market – Competitive Analysis
Highly competitive, the security cameras market appears fragmented with the presence of several well-established players. These companies incorporate market strategies, such as mergers & acquisitions, collaborations, expansion, and technology/product launches, expanding their operations and offerings.
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Industry/ Innovation/ Related News
Sep. 25, 2023 – Reolink launched a new range of 4K solar-powered battery cameras, including 4K recording and dual-band Wi-Fi. Moreover, these cameras don’t require a subscription. Reolink security cameras have two options: the Argus Eco Ultra and the Argus 3 Ultra. These cameras are all solar-powered and Wi-Fi-connected. Reolink security cameras are waterproof for outdoor use, with rubber port covers protecting the ports and switches.
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