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Growing implementation of video surveillance systems for safety and security purpose is boosting the demand for high-quality security cameras. According to the ‘value of data public safety powered by AI’ report published by Accenture in April 2020, almost 450 million CCTV cameras have been installed worldwide. This huge CCTV installation base is evidencing an enormous demand for security cameras across the globe. Technology advancements have revolutionized the security camera industry trends by introducing high definition (HD) technology. High definition (HD) security cameras when incorporated with surveillance system helps in improving the picture resolution and clarity. Apart from high resolution, this camera offers a wide dynamic range, sustainability, enhanced vision angle, and technological compatibility which supports the massive adoption of HD cameras across the security industry. Besides, increased pixels feature are also offering superior digital zoom capabilities to enhance long-distance vision. Growing proliferation of wireless IP security cameras to improve distance vision drives HD security camera market growth. Thus, the HD cameras are gaining traction across the security industry owing to their advantageous features.
Government initiatives towards public safety is another key factor that drives the HD security camera market. HD cameras installed at public places are useful for evidence or forensic purposes. The developing smart infrastructure projects such as smart cities, smart buildings, smart agriculture are also likely to drive substantial market growth in the coming years. People are massively deploying HD camera-based video surveillance systems to ensure the safety of their home, land, or other properties. As per a survey conducted by PC Mag, in 2018, almost 34% of customers have admitted that they depending on the smart home security solutions for keeping their home environment safe. Apart from this, growing security concerns across residential and commercial places owing to increasing theft is escalating the market growth.
Key Market Driver -
• Growing number of smart infrastructure projects • Government initiatives towards public security and safety
Key Market Restraint -
• Increasing popularity of network based cameras
Some of the key players summarized in the HD security cameras market includes Swann Communications Pty. Ltd, FLIR Systems, Inc, Arlo Technologies, Inc, Amazon.com Inc., Cisco Systems, Inc., Arecont Vision LLC, Axis Communications, Honeywell International Inc., Avigilon Corporation, Bosch Security Systems, Canon, Inc., Hikvision Digital Technology Co. Ltd., Panasonic Corporation, Sony Electronics, Inc. and others.
Key companies are focusing on expanding their business portfolio by launching featured products. In June 2020, Arlo Technologies, Inc. has announced the launch of its wireless HD home security camera named Essential Spotlight Camera. The camera is featured with 1080 pixel high definition video quality, unified spotlight night vision, and two-way audio. Also, strategic partnerships and collaborations are helping key players to enhance their product portfolio and market position.
North America is anticipated to drive the market growth owing to the significant adoption of video surveillance systems. According to the ‘value of data public safety powered by AI’ report published by Accenture in April 2020, London and Washington, D.C. have installed 4,20,000 and 30,000 number of CCTV cameras respectively. Thus, large deployment of surveillance cameras is likely to drive HD security market growth. Government across the region is supporting the deployment of high-resolution security cameras for tracking criminal activities at public places. Also, the early adoption of smart infrastructure projects such as smart home, smart building, smart agriculture, and smart cities is driving substantial adoption of HD security cameras across North America.
Europe is likely to showcase a noticeable contribution to the market due to the rising adoption of surveillance systems for private, commercial, and public use. Increasing demand for 4K technology supportive devices is anticipated to show potential demand for 4K HD security cameras.
Asia-Pacific is probable to hold a significant share in the global HD security camera market owing to presence of a large number of key companies across the region. China is one of the prominent countries of the region showcasing massive adoption of CCTV based surveillance system. The report published by Accenture in April 2020, ‘value of data public safety powered by AI’, quoted that, Beijing is the world’s leading city in surveillance with about 470,000 CCTV camera instllation base. Growing initiatives towards smart infrastructure project by the government of many nations in Asia-Pacific is expecting to showcase significant growth in the coming years.
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