Market Research Future (MRFR), in its report on the global security cameras market reveals multiple factors that can impact the market in the assessment period (2019–2024). A complete analysis on the long term consequences and real time impact of COVID 19 pandemic on the security camera market is provided along the report. As per MRFR analysis, the security camera market is likely to rise at 11% CAGR across the review period. The increase in the security camera market from USD 4.87 billion to USD 9.72 million from 2019 to 2024, can be attributed to rise in the availability of security cameras of a wide range of specifications, resolution, and sizes.
Drivers and Restraints
Major driving factors for the security camera market are the ease of installation of security cameras and growing awareness concerning the security needs. Security cameras are used to regulate and monitor activities happening in and around a building premise. The market growth is primarily driven by the rising adoption of smart homes, growing awareness concerning security and safety, and ease of installation. On the other hand, issues regarding privacy and loss of data and the increasing cost of cameras and its maintenance pose a challenge to the growth of the security camera market.
Motorola Solutions, Inc. (Motorola Home), ADT Inc. (US), Swann Communications Pty. Ltd (US), Arlo Technologies Inc (US), SimpliSafe, Inc. (US), FrontPoint Security Solutions, LLC (US), Hangzhou Hikvision Digital Technology Co. Ltd (China), Shenzhen Leshi Video Tech. Co., Ltd (China), Samsung Communications (South Korea), B & H Foto & Electronics Corp (US), Wyze Labs, Inc (US), Amcrest (US), Immedia Semiconductor, Inc. (US), CPI Security Systems, Inc. (US), Panasonic Corporation (Japan), Vivint, Inc. (US), Reolink Digital Technology Co., Ltd (China), Ring LLC (US), Nest Labs.
Market Segmentation Study
The segment study of the global security cameras market is based on resolution, type, application, end-user, and professional service.
· The type based segments of the security cameras market are dome security camera, infrared (IR) bullet camera, wireless/IP camera, box security camera, point tilt & zoom (PTZ) camera, and other cameras.
· The application based segments of the security cameras market are outdoor security cameras and indoor security cameras.
· The resolution based segments of the security cameras market are full HD, non HD, and high definition (HD).
· The professional service based segments of the security cameras market are installation and deployment service, consulting service, and maintenance and support service.
· The end-user based segments of the security cameras market are industrial/manufacturing facilities, commercial/public space, residential/home, and others.
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Detailed Regional Analysis
In North America, the increase in cases of COVID 19 cases are creating the need for maintaining social distancing, thereby increase the installation of security cameras. This is expected to boost the expansion of the security camera market across the assessment period. Security cameras aid in monitoring activities in residential and commercial spaces. In recent times, security cameras are gaining high popularity. Increase in adoption of wireless security cameras can boost the expansion of the regional market. Similar factors are noted for the security camera market in EU.
The increase in the need for effective solutions to monitor a successful social distancing to stop COVID from spreading is likely to promote the regional security camera market. Moreover, increase in other violent events across North America and EU demand high security measures, which is also expected to boost the expansion of the security camera market in the years ahead. In APAC, the increase in the installation of security cameras and rise in awareness about security needs can spur the expansion of the security camera market in the years to come.
Major Highlights of TOC Covers:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. Security cameras Market Segmentation
8. Security cameras Market Landscape
9. Vendor Matrix
10. Company Profiles
11. Business Overview
12. Financial Data
13. Product Landscape
14. Strategic Outlook
15. SWOT Analysis
16. Regional Security cameras Market Share
17. Country Security cameras Market Share
18. Revenue and Sales Forecast
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