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North American IP Camera Market size to cross $8 Bn by 2026
Published Date: 2021-03-05
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North American IP Camera Market size is estimated to surpass USD 8 billion by 2026, according to a latest forecast report by Graphical Research. The increasing adoption of innovative video surveillance systems to enhance safety and security of healthcare facilities.
Increasing instances of security breaches and property thefts are encouraging consumers to adopt advanced security systems. According to a 2020 State of Safety survey, break-ins are the number one property crime concerns in the U.S. Every day over 3,300 burglaries occur, resulting in a loss of around USD 3,000. Growing security challenges faced by homeowners for intrusion detection are driving the adoption of IP cameras. These systems offer significant benefits, such as fast connectivity to the Internet and real-time access to video footage, in residential security applications.
Technological advancements such as the development of remote access monitoring and limitless storage capabilities have revolutionized the IP camera market. These systems allow the monitoring of surveillance cameras and sensors remotely with the aid of a mobile app or a web portal. Market players are focusing on R&D activities to offer innovative systems and attract a large customer base. For instance, in January 2020, Hangzhou Hikvision Digital Technology Co., Ltd. launched an IP video Intercom solution equipped with thermal cameras for low-light detection. The system enables users to gain enhanced control over building access coupled with audio-visual communication.
Infrared cameras are expected to witness increased adoption in the commercial, residential, industrial, and defense sectors. Growing security challenges faced by the military for intrusion detection at border areas are driving the adoption of infrared cameras. Governments are allocating budgets to procure infrared cameras. According to Trading Economics, military expenditure in Canada is projected to reach around USD 21,700 million by 2021. The surge in military spending to secure the borders is expected to drive the market demand.
Browse detailed statistical insights from the report, “North America IP Camera Market Size By Connection (Centralized, Decentralized), By Product (Fixed, PTZ, Infrared), By Application (Residential [Home Security, Smart Home], Commercial [Retail, Industrial, Healthcare, Real Estate], Public/Government [Transportation, BFSI, Education, Government Facilities]), Research Report, Country Outlook (U.S., Canada), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026” along with the table of contents (ToC) @
The Centralized IP cameras enable users to manage large number of devices located at multiple locations. The centralized IP-based video surveillance system integrates all the functions of video surveillance such as access control, video analytics, intrusion, and fire alarm functionalities. This facilitates enterprises to gain greater control over their systems, ensuring better safety, security, visibility, and control.
The healthcare sector is majorly adopting comprehensive security systems due to stringent government policies to monitor and secure operations in facilities. For instance, the Health Insurance Portability and Accountability Act (HIPPA) directs hospitals to ensure data privacy through advanced security and video surveillance systems. Prominent players are providing high-quality surveillance systems to help healthcare authorities in protecting their products, data, facilities, and employees.
Key players operating in the North American IP camera market include Bosch Security Systems, Dahua Technology, Pelco by Schneider Electric, Panasonic Corporation, Tyco International, and Canon Inc. Players are focusing on new product launches to strengthen their industry position and expand their product portfolio. For instance, in July 2019, Honeywell International, Inc. launched 30 Series IP cameras to improve video & data protection and help customers to comply with the U.S. government procurement standards.
The North America IP camera market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2015 to 2026 for the following segments:
North America Market, By Product
North America Market, By Connection
North America Market, By Application
- Home security
- Smart home
- Real estate
- Banking & finance
- Government facilities
The above information has been provided for the following countries: