The wireless security camera system gives the consumer a sense of security with high quality audio, video and alarm systems.
PORTLAND, OREGON, USA, Oct. 12, 2022 /EINPresswire.com/ — Rising demand for video analytics, increasing acceptance of smart homes, and the emergence of video surveillance as a service (VSAAS) are propelling the growth of the global wireless security camera systems market. The COVID-19 pandemic has negatively impacted the wireless security camera system market as many companies, market centers and manufacturing units across the globe have been shut down due to lockdown restrictions.
According to the report published by Allied Market Research, the global wireless security camera system market generated $5.91 billion in 2020 and is expected to reach $18.30 billion by 2030, growing at a CAGR of 12. 4% from 2021 to 2030. The report offers in-depth in-depth analysis of market size, emerging and current trends, future estimates, and key players.
Rising demand from developing countries, integration of advanced technologies such as IoT in wireless security cameras and increasing security needs in high-risk areas are driving the global security systems market. 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 strong demand for smart city projects is expected to create lucrative market opportunities.
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The spread of the COVID-19 pandemic has had a negative impact on the electronics and semiconductor sector. Business and manufacturing units around 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 manufacturing disruption across 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 supply, the hardware segment accounted for the largest market share in 2020, contributing more than two-thirds of the total share, and is expected to maintain its lead throughout the forecast period. On the other hand, the software segment is estimated to experience the fastest CAGR of 16.5% from 2021 to 2030.
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Based on camera type, the fixed segment contributed the highest market share in 2020, attributing almost 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 show the fastest CAGR of 14.3% from 2021 to 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 show the fastest CAGR of 14.5% during the forecast period.
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Key players of 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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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights 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 in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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