Market Introduction and Definition
Wireless camera is a one stop solution for the messy wires and huge setup of analog camera. These cameras are controlled by internet protocol which transfers images to NVR (Network Video Recorder) which then processes the images and pushes it to cloud storage or the video could be streamed live via smart device.
Wireless camera is a simplified version of analog cameras where the camera is installed at one location and could be controlled remotely from a remote.
Storage over cloud depends on the subscription of cloud space which enhances the overall business of IP cameras.
Wireless security camera has become an integral part of ensuring one’s personal and assets security. Apart from the utilization of products at the domestic level, the camera is also used by the banking sector, defense and myriad industries. Therefore the product sales could be countered as diversified.
Wireless Camera Market Forecast and CAGR
Historical: Every year camera industry generates millions of dollars in revenue. Over the past half-decade, IP camera business has made a fortune of billions of dollars in revenue. The revenue is mostly generated from commercial as well as domestic sector.
Commercial sector: This sector mostly includes banking, defence, aerospace, chemical industries, nuclear plants and others. Need for the wireless camera and rising renting for the excessive space has forced consumers to move towards IP camera over the analog cameras. This has created a lucrative space for the potential entrants in the business over the same period.
Domestic sector: Growing crime rates across developing and developed economies has strengthened the procurement of IP camera from regional governments across the globe.
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This period has proven to be disastrous for IP camera sales growth. Sales of the product has declined by nearly 4% points over the Q2 and Q3 of FY2020. Focus of regional governments towards healthcare industry has also negatively affected the investment portfolio for IP camera.
Strict lockdowns and unemployment has created uneven social loopholes which has enhanced the larceny and robbery across the developing economies. This has strengthened the IP camera demand from the gated communities, societies and individual apartments.
Forecast: Sales forecast of the wireless camera could be assessed over three major terms. Short-run, medium run and long-run.
Short-run: Higher demand for the past half-decade portrays a clear image of strong growth over this term. Price of the product is anticipated to grow by near 1.2X time over this period.
Medium-run: Regional government procurement of wireless camera is anticipated to provide strong trade winds to the wireless camera market.
Long-run: Change in product price and adoption of IP camera substitute to affect the sales over this period.
What is Driving Demand for Wireless Camera?
- Security to remain as top priority: Security has become an essential service with the rise in illicit activities across the globe. Rising theft cases and need for an eye to watch in owner’s absence to provide a moderate demand boost to the IP camera demand.
- Government procurement in the light of rising crimes: Bureaucratic organizations such as police, municipality and others has major role in driving the sales of IP cameras. Changing policies across the regions as a mandated camera at every street corner to bolster the demand for IP cameras
- Demand from Industries: Application of wireless camera across the industries is diversified. Banking sector uses it guard the public asset and liabilities; production sites use it to keep an eye on employee performance and product quality; Defense sector uses it to ensure national security.
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Asia Pacific Wireless Camera Market Outlook
Asia Pacific wireless camera business has generated multimillion-dollar opportunities over the past half-decade. India among other countries in the region has fared well over the same period. Delhi (Capital of India) Government in 2020 has planned to install 140 hundred thousand CCTV cameras and the tender was won by HIK Vision in 2018. Followed by strong demand growth from India, China is anticipated to provide long-run throttle to the wireless/IP camera market.
Who are the Key Manufacturers and Suppliers of Wireless Camera?
Some of the leading manufacturers of the wireless/IP camera are include 10Moon
- Canon, Inc.
- Cisco Systems Inc.
- D-Link Systems Inc.
- Koninklijke Philips N.V.
- FLIR Lorex
- Night Owl Security
- Teklink Security
- CCTV Cameras Pros
- HIK Vision
- Crystal Vision.
IP camera providers not only provide camera setup but also services. Services such as cloud storage and other technical services over long-run tend to secure the revenue stance
An Adaptive Approach to Modern-day Research Needs
Wireless Camera Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Camera Type
By End-User Industry
- Defense & Aerospace
- Bureaucratic Organization
By Sales Channel
- Third-Party E-Commerce
- Retail outlets
- Indirect (Contractors, security consultancy firms & others)
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- Northern Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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