The IP camera market is now projected to be worth approximately US$20 billion in 6 years
Internet-protocol (IP) cameras are devices that send the footage they capture back to servers, clouds, digital recorders or video recorders over wireless or cellular data connections. The volume of their shipments is now projected to surpass 100 million by 2025. This will drive the value of the relevant market to as much as US$20 billion at the same juncture.
There are many different types of IP camera, which record in various formats and at various resolutions. However, those that can pan, tilt or zoom (or all three) are now thought to be a particularly strong source of potential growth in this market.
The commercial sector has also been found to be a crucial driver of the IP camera market, and may continue to be so in the future. For example, companies such as Walmart, Kroger Company, and Costco are expanding at present; thus, it is anticipated that their demand for IP-facilitated security will grow to match this rate in the near future.
Nevertheless, the consumer side of IP camera needs are also thought to be capable of contributing to IP shipment numbers over the next 6 years. Research suggests that this is due to increased crime rates in various regions.
Accordingly, companies such as VideoIQ Inc.; Panasonic; Bosch Security Systems; Axis Communications; and Shenzhen Apexis Electronics are predicted to do very well out of these two major market subsections into the next decade.