Security Cameras Market Overview
In 2017, the worldwide Security Cameras Market Size was registered to generate at USD 4.87 billion. Further, the global market is projected to expand the market share at a higher CAGR of 11%during the forecasted period and is further projected to account for approximately USD 9.72 billion during the forecasted period.
As per the Security Cameras Market Trends report, the global market is driving its market growth due to several factors, including the increasing adoption of smart homes, growing awareness about security needs, and ease of installing security cameras across various parts of the world.
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In addition, the increasing applications of the Internet of Things are bringing lucrative opportunities for the global market. However, the global market might face market restraints due to the issues related to privacy and loss of data.
Security Cameras Market Regional Analysis
According to the Security Cameras Market Forecast report, the current market has been classified based on Europe, North America, Latin America, Asia-Pacific, and the Middle East, and Africa. The North American region is accounted to hold the largest Security Cameras Market Sharedue to rising demand for commercial and residential security in the region. Moreover, the European region is holding the second-largest market share in the research period due to countries like the UK, Germany, France, and Italy and the growing demand for surveillance and security applications in the region.
The Asia-Pacific region is considered the fastest-growing region and generating the third-largest market share in the review period due to the growing awareness about using security cameras in different applications like detection, inspection, security, and surveillance and monitoring. In addition, the growing demand for surveillance systems indifferent military applications is driving the regional market growth.
Furthermore, the Middle East and African region and Latin American region are considered to generate the least market share in the forecast period due to the low per capita disposable income and low infrastructure in these two regions.
Security Cameras Market Segmentation
As per the Security Cameras Market Forecast report, the present market has been classified based on type, application, resolution, end-user, and professional service.
Based on the type segment, the current market has been categorized into a box security camera, wireless/IP camera, dome security camera, point tilt & zoom (PTZ) camera, infrared (IR) bullet camera, and others. Depending on the application segment, the worldwide market has been divided into indoor and outdoor security cameras. Based on the resolution segment, the global market has been segregated into full HD, non-HD, and high definition (HD).
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Based on the end-users segment, the global market has been segregated into industrial facilities, manufacturing facilities, commercial spaces, public spaces, residential homes, etc. The professional service segment has classified the current market into support, deployment, maintenance, consulting, and installation services.
In February 2018, the prominent market player NETGEAR announced its Arlo business separation. In April 2018, a Motorola Solutions Company known as Avigilon Corporation launched a new H4 Video Intercom Secured entry system, which is helpful for different applications in hotels, educational facilities, retail stores, and offices.
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