January 24, 2023

Global Wireless Security Camera Systems Market to Reach

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Portland, OR, November 15, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the wireless security camera systems market generated $ 5.91 billion in 2020, and is expected to reach $ 18.30 billion by 2030, demonstrating a 12.4% CAGR from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimates, and key players.

Increasing demand from developing countries, integrating advanced technologies such as IoT into wireless security cameras, and increasing need for security in high risk areas are driving the global systems market of wireless security cameras. On the other hand, the limited range and network interference of cameras is hampering the growth of the market. On the contrary, the high demand for smart city projects is expected to create lucrative market opportunities.

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COVID-19 scenario:

  • The spread of the COVID-19 pandemic has had a negative impact on the electronics and semiconductor industry. Business and manufacturing units across the world have been closed, due to an increase in the number of COVID-19 cases.
  • Lockdown restrictions have disrupted the global supply chain, making it difficult for manufacturers to reach customers. This affected the supply-demand ratio in the market.
  • The pandemic has caused a major disruption in manufacturing in Europe and parts of China.

The report segments the global wireless security camera systems market on the basis of supply, camera type, application, end-user, deployment, and region.

Based on the offer, the hardware segment represented the larger market share in 2020, contributing more than two-thirds of the total share, and is expected to remain in the lead throughout the forecast period. On the other hand, the software segment is expected to experience the fastest CAGR of 16.5% from 2021 to 2030.

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On the basis of camera type, the fixed segment contributed the highest market share in 2020, attributing nearly two-fifths of the total market share, and is expected to dominate the market during the forecast period. On the other hand, the PTZ segment is expected to post the fastest CAGR of 14.3% from 2021-2030.

Based on region, North America contributed the highest share in 2020, holding nearly two-fifths of the total share, and is expected to maintain its dominance throughout the forecast period. On the other hand, Asia-Pacific is expected to exhibit the fastest CAGR of 14.5% during the forecast period.

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The major players in the global wireless security camera systems market analyzed in the research include Bosch Security Systems Gmbh, D-Link Corporation, Cisco Systems, Inc., Axis Communications AB, Dahua Technology Co., Ltd., Flir Systems, Inc., Honeywell Security, Hangzhou Hikvision Digital Technology Co., Ltd., Panasonic Corporation and Swann.

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About Us:

Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization towards delivering high quality data and information. We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecasts. Each of the data presented in the reports we publish is taken from primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.


        

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