Technology is getting smarter with each passing day, with smart cameras being one of them. Changing consumer preferences, enhanced functionalities of smart cameras, and rising concerns regarding safety and security are what making them more and more popular. It is increasingly being used in various applications like public spaces, military & defense, transit facilities, commercial facilities, enterprise & government, and residential infrastructure, which in turn, is fueling the growth of the global market for smart camera for security & surveillance.
Drivers for the Market
The growth of the global market for smart camera for security & surveillance is primarily influenced by the following factors:
- Increased usage of smart cameras for security & surveillance purposes
- Rising security concerns worldwide
- Growing demand due to easy installation and advanced features
- Advancements in technology
Moreover, there has been an increase in terrorist activities across the globe, which has led to various countries adopting latest technologies over conventional equipment, thus boosting the demand for smart cameras as well. Furthermore, manufacturers are also developing cameras with advanced features like wide range coverage for large and crowded places. Therefore, growing demand for cameras with better quality for security & surveillance is also said to be triggering the growth of this market.
Market at a Glance
The size of the global smart camera for security & surveillance market which was estimated to be USD 1.93 Billion in 2015 is expected to hit USD 3.06 Billion by 2020, growing at a CAGR of 9.7% during the forecast period. Among regions, Asia-Pacific was the largest market, and is also expected to be the leading player, growing with the highest CAGR over the forecast period, owing to the technological advancements taking place in this region.
On the basis of applications, public spaces, commercial facilities, and residential infrastructure are among the fastest-growing applications in this market, with the public spaces application estimated to grow at the highest CAGR, owing to increasing demand for smart cameras for security and surveillance purposes.
Based on sensor technology, the CMOS segment is expected to lead the market with highest share between 2015 and 2020 because of their smaller size, lower power consumption, faster frame rate, ease of integration, and lower manufacturing costs. Whereas based on scanning technology, the area scan segment is anticipated to grow at the highest CAGR during the projected period.
FLIR Systems, Inc., Canon Inc., Samsung Techwin Co., Ltd., Sony Corporation, Panasonic Corporation, Bosch Security Systems, Inc., Raptor Photonics Ltd., and Watec Co., Ltd., are some of the prominent companies functioning in the global market for smart camera for security & surveillance.
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Research Scope
The global smart camera market for security & surveillance has been analyzed and predicted on the basis of following segmentation:
- Application: Public Spaces, Military & Defense, Transit Facilities, Commercial Facilities, Enterprise & Government Infrastructure, Residential Infrastructure
- Sensor Technology: CMOS, CCD
- Scanning Technology: Area Scan, Line Scan
- Geography: Americas, Europe, Asia-Pacific, RoW
