London, 12 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the global network camera market 2015-2019, which is expected to grow at a CAGR of 20.64% during the period 2014-2019.
Network cameras enable high-resolution imaging, which allows enterprises, residences, and cities to keep a better watch over the areas under surveillance. The images stored through these advanced cameras can be later analyzed to identify unusual behavior or catch criminals.
Moreover, network cameras are scalable and can be easily integrated with other security solutions in a network. They can be adapted to meet the changing needs of an organization without incurring additional costs.
“Currently, developed countries such as the US, the UK, Canada, France, and Italy are the major revenue contributors to the global network camera market,” says Faisal Ghaus, Vice President of Technavio.
“The market is likely to grow in emerging countries such as Brazil, China, and India. Customers are awaiting the entry of new vendors into the market, which will result in price reductions. Several vendors in the market are shifting their focus to emerging countries in order to boost their market presence and revenue.”
Key Market Drivers
- Growing need for security
- Need for high-resolution imaging
- Shift from analog to network cameras
- Increased government investments
Key Market Trends
- Adoption of cloud-based services
- Increased demand from emerging countries
- Reduced prices of network cameras
- Increased need for analytical software
Key Market Vendors
- Arecont Vision LLC
- Axis Communications AB
- Bosch Security Systems
- Cisco Systems Inc.
- Honeywell Security Group
- NICE Systems Ltd.
- Schneider Electric SE
- Tyco International Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
