The Asia Pacific IP Camera Market would witness market growth of 14.1% CAGR during the forecast period (2022-2028).
Rise in need of safety in high-risk areas, growth in the transition from analog surveillance to IP cameras and integration of internet-of-things has fueled the growth of the video surveillance market size. However, factors such as high investment cost in data storage technologies and lack of professional expertise in handling IP cameras have hampered the market growth.
Furthermore, an increase in trends toward the development of smart cities is expected to offer lucrative opportunities for market expansion. The increasing demand for Video Content Analytics (VCA) and Video Surveillance as a Service (VSaaS), incorporation of artificial intelligence in video surveillance systems, increasing demand of intelligent transportation systems, as well as the integration of surveillance with technologies like drones and body-worn cameras are being identified as the key opportunities which can boost the market growth in the coming years.
However, lack of standardization, high initial costs, and a threat to data integrity continue to remain the pain points of the market. Furthermore, reduced costs of cloud storage solution have emerged as a key opportunity for service players in the video surveillance market.
In addition, the market for internet protocol (IP) cameras is anticipated to grow significantly by 2030 as a result of the increasing use of modern security technologies for a variety of purposes, including home security, traffic monitoring, and public surveillance. The market in the Asian region is also projected to grow as a result of increased private sector, government, and academic investments in R&D and innovation on new technologies related to administration.
The China market dominated the Asia Pacific IP Camera Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,415.9 million by 2028. The Japan market experiencing a CAGR of 13.4% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 14.8% during (2022 - 2028).
Based on Product Type, the market is segmented into Infrared, Fixed, and Pan-Tilt-Zoom (PTZ). Based on Application, the market is segmented into Commercial, Government, and Residential. Based on Component, the market is segmented into Hardware and Services. Based on Connection Type, the market is segmented into Consolidated and Distributed. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide IP Camera Market is Projected to reach USD 23.4 Billion by 2028, at a CAGR of 13.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Avigilon Corporation (Motorola Solutions), Belkin International, Inc. (Hon Hai Precision Industry Co., Ltd.), Bosch Security Systems GmbH (Robert Bosch GmbH), D-Link Corporation, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International, Inc., Johnson Controls International PLC, Panasonic Corporation, Samsung Electronics Co., Ltd. (Samsung Group), and Sony Corporation.
By Product Type
By Application
By Component
By Connection Type
By Country
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