Market Introduction and Definition
Wireless camera is a one stop solution for the messy wires and huge setup of analog camera. These cameras are controlled by internet protocol which transfers images to NVR (Network Video Recorder) which then processes the images and pushes it to cloud storage or the video could be streamed live via smart device.
Wireless camera is a simplified version of analog cameras where the camera is installed at one location and could be controlled remotely from a remote.
Storage over cloud depends on the subscription of cloud space which enhances the overall business of IP cameras.
Wireless security camera has become an integral part of ensuring one’s personal and assets security. Apart from the utilization of products at the domestic level, the camera is also used by the banking sector, defense and myriad industries. Therefore the product sales could be countered as diversified
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Wireless Camera Market Forecast and CAGR
Historical: Every year camera industry generates millions of dollars in revenue. Over the past half-decade, IP camera business has made a fortune of billions of dollars in revenue. The revenue is mostly generated from commercial as well as domestic sector.
Commercial sector: This sector mostly includes banking, defence, aerospace, chemical industries, nuclear plants and others. Need for the wireless camera and rising renting for the excessive space has forced consumers to move towards IP camera over the analog cameras. This has created a lucrative space for the potential entrants in the business over the same period.
Domestic sector: Growing crime rates across developing and developed economies has strengthened the procurement of IP camera from regional governments across the globe.
FY2020-FY2021 Timeline:
This period has proven to be disastrous for IP camera sales growth. Sales of the product has declined by nearly 4% points over the Q2 and Q3 of FY2020. Focus of regional governments towards healthcare industry has also negatively affected the investment portfolio for IP camera.
Strict lockdowns and unemployment has created uneven social loopholes which has enhanced the larceny and robbery across the developing economies. This has strengthened the IP camera demand from the gated communities, societies and individual apartments.
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Asia Pacific Wireless Camera Market Outlook
Asia Pacific wireless camera business has generated multimillion-dollar opportunities over the past half-decade. India among other countries in the region has fared well over the same period. Delhi (Capital of India) Government in 2020 has planned to install 140 hundred thousand CCTV cameras and the tender was won by HIK Vision in 2018. Followed by strong demand growth from India, China is anticipated to provide long-run throttle to the wireless/IP camera market.
Who are the Key Manufacturers and Suppliers of Wireless Camera?
Some of the leading manufacturers of the wireless/IP camera are include 10Moon
- Canon, Inc.
- Cisco Systems Inc.
- D-Link Systems Inc.
- Koninklijke Philips N.V.
- Lenovo
- Logitech
- FLIR Lorex
- Night Owl Security
- Teklink Security
- AMCREST
- AtomsLabs
- CCTV Cameras Pros
- HIK Vision
- Q-SEE
- DEFENDER
- Crystal Vision.
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