Wireless Security Cameras Systems Market Outlook – 2030
The global wireless security cameras systems market size was valued at $5.91 billion in 2020, and is projected to reach $18.30 billion by 2030, registering a CAGR of 12.4% from 2021 to 2030. Wireless security cameras system gives consumer the sense of safety and security with high-quality audio, video, and alarm systems that are remotely accessible from any smartphone or tablet. It also provides features like night vision, wide angle lens, motion detection recording, 2-way audio, among others.
The growth of the global wireless security cameras systems market is anticipated to be driven by factors such as increase in demand for video analytics, and growing penetration of smart homes. In addition, emergence of video surveillance-as-a-service (VSAAS), boosts the overall market growth. However, privacy and security related concern act as a major restraint of the global wireless security cameras systems industry. On the contrary, increase in cloud based analytic services and rise in favorable government regulations to encourage security services is expected to create lucrative opportunities for the wireless security cameras systems industry.
Segment Overview
The wireless security cameras systems market is segmented into offering, camera type, deployment, application, end user, and region. By offering, the market is classified into hardware, software, and services. Depending on camera type, the market is categorized into PTZ, fixed, and others. By deployment, the market is segmented into On Cloud, and on premise. The application covered in the study include indoor, and outdoor. On the basis of end user, the market is classified into city infrastructure, commercial, educational institutes, residential, hospitals, industrial, and others.
Region wise, the wireless security cameras systems market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America is dominated the wireless security cameras systems market in 2020, and is projected to register the significant growth rate during the forecast period, owing to growth of the city infrastructure sector. However, Asia-Pacific is likely to witnesses significant growth rate by the end of the forecast period, followed by LAMEA.
Leading wireless security cameras systems market manufacturers such as Bosch Security Systems, Cisco Systems, Inc., and Honeywell Security are focusing on their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications.
By Offering
Software segment is expected to secure leading position during forecast period.
Top Impacting Factors
The prominent factors that impact the wireless security cameras systems market growth are high demand from developing countries, and rise in need of safety in high-risk areas. In addition, integration of IoT in wireless security cameras drives the wireless security cameras systems market. However, limited range and network interference related concern restricts the market growth. On the contrary, high demand from smart cities projects is expected to create lucrative opportunities for the market.
Competitive Analysis
Competitive analysis and profiles of the major wireless security cameras systems market players such as Axis Communications AB, Bosch Security Systems Gmbh, Cisco Systems, Inc., Dahua Technology Co., Ltd., D-Link Corporation, Flir Systems, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell Security, Panasonic Corporation, and Swann have been covered in the report. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration, to enhance their market penetration.
By Application
Outdoor segment is projected as one of the most lucrative segments.
COVID-19 Impact Analysis
The outbreak of COVID-19 has significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are expected to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers.
The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market and is resulting in falling business confidence, massive slowing of supply chain, and increasing panic among the customer segments.
Asian and European countries under lockdowns have suffered major loss of business and revenue, due to the shutdown of manufacturing units. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted the growth of the wireless security cameras systems market.
In addition, the COVID-19 pandemic has impacted the electronics sector, as the production facilities have stalled, which, in turn, boost the demand for electronics and semiconductor products in the industries. Its major impact includes a large manufacturing interruption across Europe and interruption in Chinese parts exports, which is anticipated to hinder the growth of the wireless security cameras systems market.
By Region
Asia-Pacific would exhibit the highest CAGR of 14.5% during 2021-2030
Key Benefits for Stakeholders
- This study comprises analytical depiction of the global wireless security cameras systems market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall wireless security cameras systems market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current wireless security cameras systems market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the wireless security cameras systems market share of key vendors.
- The report includes the market trends and the market share of key vendors.
Wireless Security Cameras Systems Market Report Highlights
| Aspects | Details |
 By OFFERING |
|
 By Camera Type |
|
 By Deployment |
|
 By Application |
|
 By End User |
|
 By Region |
|
 Key Market Players | Axis Communications AB, Panasonic Corporation, Bosch Security Systems Gmbh, Flir Systems, Inc., Honeywell Security, Cisco Systems, Inc., Dahua Technology Co., Ltd., Hangzhou Hikvision Digital Technology Co., Ltd., Swann, D-Link Corporation |
Analyst Review
The global wireless security cameras systems market is experiencing rapid growth. However, limited range and network interference related concerns is still a concern for new entrants. Market players are generously investing in R&D activities to develop improved components so as to tackle these issues of wireless security cameras systems products. Also, according to industry experts, it is essential to optimize affordable prices for wireless security cameras systems products for long-term growth.
The growth of the global wireless security cameras systems market is anticipated to be driven by factors such as increase in demand for video analytics, and surge in penetration of smart homes. In addition, emergence of video surveillance-as-a-service (VSAAS), boosts the overall market growth. However, privacy and security related concern act as a major restraint of the global wireless security cameras systems industry. On the contrary, increase in cloud based analytic services and rise in favorable government regulations to encourage security services is expected to create lucrative opportunities for the wireless security cameras systems industry.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch, partnership, and collaboration are expected to be the prominent strategies adopted by the market players. North America accounted for a major share of the market in 2020, owing to the presence of major players in the region; However, Asia-Pacific is expected to grow at the highest CAGR, owing to rise in adoption of wireless security cameras systems in a variety of fields.
The wireless security cameras systems market is estimated to grow at a CAGR of 12.4% from 2021 to 2030.
The wireless security cameras systems market is projected to reach $18.30 billion by 2030.
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Increase in demand for video analytics, and growing penetration of smart homes.
The key players profiled in the report include Axis Communications AB, Bosch Security Systems Gmbh, Cisco Systems, Inc., Dahua Technology Co., and many more.
On the basis of top growing big corporations, we select top 10 players.
The wireless security cameras systems market is segmented on the basis of offering, camera type, deployment, application, end user, and region.
The key growth strategies of wireless security cameras systems market players include product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration.
Indoor segment would grow at a highest CAGR of 13.6% during the forecast period.
Asia-Pacific region will dominate the market by the end of 2030.
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