APAC IP Camera Market size is predicted to cross USD 6 billion by 2026, according to a latest forecast report by Graphical Research.
High manufacturing & labor costs in Asia Pacific are driving the prices of IP cameras. Suppliers and technology providers have a very low presence in these regions, encouraging manufacturers to purchase electronic components at high prices and forcing them to sell their products at a high price range. Moreover, the competition in Asia Pacific is low compared to other regions, allowing manufacturers to gain high bargaining power over buyers. Customers in the region are spending highly on new technologies to improve the security of their premises.
The coronavirus pandemic has negatively impacted the Asia Pacific IP camera market revenue due to stringent lockdown. Market players operating in the industry are reorganizing their marketing strategies. Marketing teams are focusing on digital channels to increase their customer engagement. The global screen time has increased due to the lockdown and marketing teams are taking this as an opportunity to increase customer engagement. Brand value is an important factor driving the consumption of cameras, thus advertising & marketing teams are focusing on creating a brand value. In the current scenario, brand recognition will become an important factor to boost revenue generation after the reopening of the global market.
Fixed IP camera is expected to show significant growth through 2026. Malls and hypermarkets are installing fixed IP cameras to monitor the movement of people across different sections while also enabling authorities to take prompt action against thieves. The expanding healthcare industry is also driving the demand for high-quality surveillance solutions to ensure staff and patient safety. Fixed IP camera surveillance enables authorized hospital employees to monitor critical areas in real-time from their personal computers. This allows them to monitor patients remotely and take prompt actions in cases of health emergencies.
Browse detailed statistical insights from the report, “Asia Pacific IP Camera Market Size By Application (Residential [Home Security, Smart Home], Commercial [Retail, Industrial, Healthcare, Real Estate], Public/Government [Transportation, BFSI, Education, Government Facilities]), By Product (Fixed, PTZ, Infrared), By Connection (Centralized, Decentralized), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026” along with the table of contents (ToC) @
The industrial sector is estimated to witness a substantial surge during the forecast timeline. Industries install IP cameras to ensure 24-hour monitoring of critical assets. The industrial sectors utilizing these solutions include the chemical industry, mining, oil & gas, and biochemical sectors. The increasing adoption of surveillance systems in the mining sector is expected to drive the IP camera market growth. Infrared cameras enable authorities to detect overheating of mining equipment such as power cable junction points, switchboards, or detecting personnel or objects. They also identify potentially hazardous areas in poor lighting conditions.
Some of the major industry players include Avigilon, Canon Inc., Guangzhou Juan Intelligent, Netgear, Inc., VideoIQ Inc., and Tyco International. Market players are focusing on product launches to increase their market share. For instance, in July 2020, Dahua Technology launched five IP camera kits, a video intercom kit, and an HDCVI camera kit. The new kits simplify the installation process and are compatible with the existing infrastructure.
The APAC IP camera market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million and shipments in units from 2015 to 2026 for the following segments:
Asia Pacific Market, By Product
Asia Pacific Market, By Connection
Asia Pacific Market, By Application
- Real Estate
- Government Facilities
The above information has been provided for the following countries:
- Asia Pacific
- South Korea