IP Camera Market Size, Share & Trends Analysis Report By Component (Hardware, Services), By Product Type, By Connection Type, By End-use, By Region, And Segment Forecasts, 2023 - 2030

IP Camera Market Size & Trends

The global IP camera market was valued at USD 11.36 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 13.9% from 2023 to 2030. The rising demand for security surveillance has recently gained popularity due to the increasing number of home burglaries and squatting; residential security has become the top priority of homeowners. This factor is anticipated to drive the growth of the Internet protocol (IP) camera industry over the forecast period. Home surveillance has become popular due to the rising population in metropolitan cities. Interactive product releases, new product launches, ongoing research and development, and innovation activities in the technologies of cameras and networking are a few of the essential strategic steps for manufacturers.

Homeowners are adopting IoT technologies that also support the market's growth. Effectively, consumers are shifting their preference from traditional mountable Wi-Fi cameras to deploying smart IP cameras to increase the security of their premises. It promises robust growth for players in the internet protocol (IP) camera market. The introduction of infrared cameras and the widespread use of IoT in video monitoring has significantly increased the demand for IP cameras. The growing trend of smart homes, the increased usage of these cameras in commercial buildings, and the requirement for security in residential applications are projected to drive the market throughout the forecast period. The residential market is driven by the rising number of smartphone users and the availability of attractive installment policies for security systems.

A digital system built around an existing WI-FI or internet network can be integrated with other systems running on the same network. An IP security camera CCTV system has various advantages over an analog format. IP security cameras are compatible with a wide range of options and technologies, allowing users to record video in HD, accommodate dynamic light-weight levels during the day, and even remotely focus the user's camera. HD analog technology, image sensor, PTZ technology, HD resolution, frame rates, Video compression, remote focus lens, and camera Iris are advanced camera features.

Component Insights

Hardware components accounted for a market share of 76.7% in 2022, as the advancement of hardware systems in the market over the past years has provided convenience. Manufacturers to launch new products with technological advancement and better features enabled by AI and IoT, such as face detection and body detection technologies, are being used by a few government organizations to recognize people.

The services segment is expected to grow at the fastest CAGR of 15.0% during the forecast period due to the innovation and development of IP camera system manufacturers, and service providers are catering to the market demand for better solutions. The manufacturers are expanding their portfolio to cater to the market demand for IP camera systems.

Product Type Insights

Infrared cameras account for 43.5% of the worldwide market share in 2022, driven by increased demand for infrared solutions in industrial sectors such as military & defense, government facilities, and BFSI. The adoption rate of this type of camera has grown owing to the enhanced security and safety of commercial, residential, or public facilities in low light and visibility circumstances by utilizing this type of video traffic & surveillance units used to monitor precisely at night.

The Pan-Tilt-Zoom (PTZ) product type is expected to grow at the fastest CAGR of 15.7% during the forecast period. PTZ controls the needed field of view and can move anywhere between zero pan/tilt and complete 360-degree pan/180-degree tilt. PTZ cameras can be used with stationary cameras to improve monitoring capabilities. It also contains optical and digital zoom functions that are particularly beneficial for seeing objects from a long distance and focusing on details vital for surveillance.

Connection Type Insights

The consolidated segment held the largest revenue share of 74.7% in 2022. The consolidated product type is expected to achieve a considerable market share in 2021 as it employs a central control server that houses a master database. The master database receives all configuration data for the cameras, NVRs, and DVRs that comprise the system and all content for later access and analysis. Furthermore, in a distributed architecture, the system has the data dispersed throughout, usually close to where it is produced or used. Only if the solution is based on a distributed architecture will the true benefit of IP-based surveillance be achieved.

The distributed segment is expected to grow at the fastest CAGR of 15.7% over the forecast period, owing to the rising number of video surveillance solutions deployed in facilities. Distributed solutions have built-in storage capabilities that allow data to be saved in a digital media storage device, such as network-attached storage (NAS), flash drives, SD cards, or hard disc drives, lowering the expense of acquiring other video recorders. Enterprises rely on decentralized solutions for enhanced flexibility and dependability while operating in multi-server setups with only two or three cameras.

End-use Insights

The commercial segment held the largest revenue share of 66.4% in 2022, owing to increased demand for advanced security technologies in the banking and financial sectors, accelerating the commercial industry and thus impacting the growth of the market. The surge in retail theft encourages implementing contemporary video solutions that notify and inform security staff about unlawful access and entrance into the premises. Several manufacturers are working on providing security solutions that are especially suited for business use.

The residential segment is expected to grow at the fastest CAGR of 17.7% over the forecast period. Residential applications are going to have a significant impact on the market in the coming years. The increasing usage of IoT in smart homes is also driving market expansion. To strengthen the protection of their premises, consumers are migrating away from typical CCTV cameras and toward implementing IP cameras with new innovative capabilities. These innovative smart home security cameras have various advantages, encouraging their installation in many families.

Regional Insights

Asia Pacific dominated the market and accounted for the largest revenue share of 48.5% in 2022. Besides, the internet protocol (IP) camera market is expected to show a significant share in 2030 owing to the rising adoption of current security technologies for various applications such as traffic monitoring, home security, and city surveillance. Furthermore, increased government, private sector, and academic investments in innovation and R&D on developing technologies linked to administration will likely enhance the market in the area.

Latin America is expected to grow at the fastest CAGR of 17.0% during the forecast period because governments are increasing their spending on public safety and security, and the rise of smart city projects thud driving growth for the IP camera market.

Key Companies & Market Share Insights

Key players in the internet protocol (IP) camera market focus on introducing new technology and innovative products and services, which will help them gain more customer momentum and boost their sales and revenue.

In May 2021, Hangzhou Hikvision Digital Technology Co. Ltd released the AX PRO wireless alarm system. Motion detectors in the AX PRO line are divided into single-element and dual-tech detectors. Single-element sensors detect moving encroachers and activate alarms in real time using microwave or passive infrared (PIR) technologies. Dual tech systems combine several PIR, microwave, or camera technologies to validate intrusion risks and reduce false positives. The plans also include the AX PRO hub, linking up to 210 detectors to satisfy clients' security needs.

Sony Electronics Inc. launched ILME-FR7, a full-frame picture sensor, a built-in pan/tilt/zoom (PTZ) feature, and an interchangeable E-mount lens. Its cinematic characteristics and configurable remote control make new creative possibilities in live production, studio, and movie settings possible.

Recent Developments

• In July 2023, D-Link launched an indigenous array of surveillance products manufactured in India. The series intends to cater to Indian consumers' security concerns, and it includes a wide range of IP-based surveillance cameras and network video recorders (NVRs).

• In April 2023, 3dEYE Inc. added new features of cloud-based ALPR analytics to its existing IP cameras. The new features include scaling the analytics to existing IP cameras. It can detect authorized and unauthorized vehicle repeat offenders and enhance visitor management and access control without additional hardware investment or development.

• In March 2022, Hikvision introduced the 2nd Gen value IP camera series with enhanced motion detection and acusense technology. The new series of IP cameras from Hikvision offers several improvements over previous generations, such as enhanced motion detection and reduced false alarms. AcuSense technology can identify and classify people and vehicles, making search for specific events in recorded footage easier.

IP Camera Market Report Scope

Global IP Camera Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global IP camera market report based on component, product type, connection type, end-use, and region:

• Component Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Hardware

  • Services

• Product Type Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Fixed

  • Pan-Tilt-Zoom (PTZ)

  • Infrared

• Connection Type Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Consolidated

  • Distributed

• End-use Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Residential

  • Commercial

    • BFSI

    • Education

    • Healthcare

    • Industrial

    • Real estate

    • Retail

    • Transportation & logistics

  • Industrial

• Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030) 

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa

    • Saudi Arabia

    • South Africa

    • UAE