Technavio’s latest market research report on the global network camera market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global network camera market from 2017-2021. (Graphic: Business Wire)
Amrita Choudhury, a lead analyst from Technavio, specializing in research on enterprise application sector, says, “The global network camera market is expected to grow at an impressive CAGR of more than 43% during the forecast period, with the introduction of advanced technologies such as thermal cameras, vandal-proof security cameras, and wireless security cameras. The demand for network cameras is gradually gaining momentum due to the constant need for public safety.”
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The top four emerging market trends driving the globalnetwork camera market according to Technavio ICT research analysts are:
- Emergence of wireless IP surveillance
- Increased adoption in commercial buildings
- Emergence of thermal cameras
- Emergence of IoT in video surveillance
Emergence of wireless IP surveillance
Wireless IP surveillance is a highly affordable and easily deployable technology that combines wireless data transmission and IP video surveillance technologies to overcome challenges such as the lack of network infrastructure and connectivity in remote locations. Wireless IP surveillance is a robust and flexible solution that allows surveillance cameras to connect to wireless point-to-multipoint connectivity for easy data transmission to remote locations. Thus, outdoor locations that require surveillance do not need expensive cabling for network.
Increased adoption in commercial buildings
Commercial buildings that include retail stores, office buildings, and warehouses, are witnessing a drastic rise in the number of criminal activities. This has resulted in massive retail shrinkage and loss of credibility of the organizations. Retail shrinkage, which is a critical issue faced by the retailers, refers to the loss of a store's inventory. The rise in retail shrinkage affects the profitability of the retailers.
“The adoption of network cameras in the retail sector helps in controlling the inflow and outflow of products. This is expected to reduce retail shrinkage,” says Amrita.
Emergence of thermal cameras
Thermal cameras use infrared radiation to capture images. These cameras are heat and water-resistant and are ideal for monitoring large-scale or unique outdoor environments, such as heavily forested areas that have obstructions that make viewing difficult. Thermal security cameras are more sensitive to movements irrespective of the lighting conditions as their technology does not need an external source of light. Since criminal activities are usually attempted in the cover of darkness, thermal security cameras make an excellent adjunct to complete the outdoor wireless security surveillance systems.
Emergence of IoT in video surveillance
IoT is the means through which multiple devices communicate within a network. It enables data transmission between smart devices, such as thermostats and sensors, which themselves are connected to the mobile device of an end-user. IoT includes the use of wireless video surveillance to capture videos through cameras and transmit them over a wireless network to other devices for immediate response. They also allow remote monitoring with the added advantages of easy storage and the flexibility to install more video surveillance components, such as storage devices, cameras, and video recorders, as per the company's changing requirements.
The increased demand for improved efficiency in areas, such as energy plant management, waste management, water management, and traffic control, is contributing to the rising installation of IoT worldwide. The fear of theft in residences is also prompting the installation of IoT in homes.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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