Wireless Security Cameras Global Market Report 2024

The wireless security cameras market has grown rapidly in recent years. It will grow from $7.31 billion in 2023 to $8.26 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%.The increase observed in the historical period can be ascribed to the rise in crime rates, the process of urbanization and the development of smart cities, the trend towards home automation, the growing security requirements in retail and commercial sectors, and the cost-effective installation methods.

The wireless security cameras market is expected to see rapid growth in the next few years. It will grow to $13.57 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. In the projected period, the expansion is linked to heightened security awareness, the incorporation of AI and analytics, the emergence of smart infrastructure, demands for remote work and monitoring, and governmental efforts towards public safety. Key trends anticipated during this timeframe involve the prevalence of battery-powered and low-power devices, emphasis on remote monitoring and mobile accessibility, advancements in resolution and imaging technologies, integration with access control systems, and a focus on environmental resistance and durability.

The anticipated growth of the wireless security cameras market is set to be propelled by the escalating crime rates. Crime is characterized as the deliberate commission of an act recognized as socially damaging or hazardous, explicitly outlined, prohibited, and subject to legal penalties. Wireless security cameras play a crucial role in curbing crime by enhancing monitoring capabilities, deterring illicit activities, and aiding in the investigation and prosecution of criminal offenses. For instance, data from the UK's Office for National Statistics reveals an increase in Knife or sharp instrument offenses reported by the Metropolitan area, rising from 10,605 to 11,232 in the fiscal year ending June 2022, resulting in a rate of 125 per 100,000 people. In the West Midlands, offenses increased from 3,299 to 4,958 (169 per 100,000 population), and in Greater Manchester, offenses rose from 3,297 to 3,563 (125 per 100,000 population). Consequently, the surge in crime rates is driving the wireless security camera market.

The growth of smart cities is anticipated to propel the wireless security camera market. Smart cities are urban areas that leverage technology, data, and connectivity to enhance efficiency, sustainability, and residents' quality of life. Wireless security cameras are integral to smart cities, providing real-time monitoring and advanced surveillance capabilities for public safety and resource management. For instance, the IMD Smart City Index Report for 2023, conducted by a Switzerland-based business school, indicates a nearly 20% increase in smart city coverage, bringing the total number of smart cities to 141. Hence, the ascent of smart cities is a key driver for the growth of the wireless security camera market.

The prevailing trend gaining traction in the wireless security cameras market is technological advancements. Leading companies in this market segment are concentrating on the development of innovative products to maintain their competitive edge. For instance, in September 2022, Lorex Technologies, a Canadian firm specializing in home security solutions, unveiled the Lorex 4K Spotlight Indoor or Outdoor Wi-Fi Security Camera equipped with smart security lighting. This Wi-Fi security camera by Lorex boasts 4K resolution and Wi-Fi 6 technology, facilitating faster transmission and shorter downloading times. This results in exceptional resolution quality without disrupting other internet activities. The camera features color night vision and infrared night vision, ensuring clear nighttime footage in any lighting condition. Moreover, it incorporates advanced motion detection modes for relevant notifications, enhancing user awareness of activities on their property. The 2-Way Talk function allows users to communicate directly with visitors using the camera's built-in microphone and speaker.

Key players in the wireless security cameras market are dedicated to pioneering camera security solutions, expanding their product portfolios to address unmet medical needs and enhance patient outcomes. A notable example is SimpliSafe, a US-based wireless security camera manufacturer, which, in June 2023, launched the innovative smart alarm wireless indoor security camera with 24/7 live guard protection. This represents a significant milestone in the industry, enabling unparalleled professional monitoring and swift intervention in criminal activities. The camera incorporates advanced AI-driven analytics for enhanced surveillance and threat detection. Through real-time visual engagement and direct communication with intruders, monitoring agents can actively intervene. Utilizing video verification and continuous live guard protection, these agents swiftly gather evidence and verify potential threats. With advanced AI-powered motion detection, the camera effectively distinguishes between pets and intruders, improving accuracy and dependability.

In May 2022, Motorola Solutions, Inc., a US-based provider of video equipment, telecommunications equipment, software, systems, and services, completed the acquisition of Videotec Srl for an undisclosed amount. This strategic move aims to bolster Motorola Solutions Inc.'s Pelco brand by enhancing production and design capabilities for video-security cameras. Videotec Srl, an Italy-based company specializing in indoor and outdoor professional video surveillance, including analog, IP, and PTZ cameras, contributes to the expansion of Motorola Solutions Inc.'s market presence.

Major companies operating in the wireless security cameras market report are Cisco Systems Inc.,Zhejiang Dahua Technology Co. Ltd.,Logitech International S.A,Amcrest Technologies,Axis Communications AB,Bosch Security Systems GmbH,Teledyne FLIR LLC,Hangzhou Hikvision Digital Technology Co. Ltd.,Honeywell Security,Panasonic Holdings Corporation,Swann Security, Canon Inc.,D-Link Systems Inc.,Koninklijke Philips N.V,Night Owl SP LLC,Atoms Labs LLC,Teklink Security Inc.,Revo Uninstaller,CCTV Cameras Pros,DEFENDER,Q-SEE,Corps Security And Utility Services Private Limited,Crystal Vision Ltd.,Vivinit Smart Home Inc.,ADT Inc.,SimpliSafe Inc.,Brinks Home Security,Johnson Controls International PLC,Genetec Inc.,Qognify Inc.,Verint Systems Inc.,Vidsys Inc.,Guardian Protection Services Inc.,Vector Security Inc.

North America was the largest region in the wireless security cameras market in 2023. The regions covered in the wireless security cameras market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wireless security cameras market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of wireless security cameras include box cameras, dome cameras, PTZ cameras, bullet cameras, IP cameras, day or night cameras, thermal (FLIR) cameras, wireless IP cameras, and others. A box camera is a straightforward device consisting of two metal components fused to create a sealed rectangular box, featuring a single-element meniscus fixed focus lens on the front and a loading knob on one side. The key components include hardware, software, and video surveillance as a service (VSaaS), utilizing technologies such as analog or direct, digital, and IP or network. It finds applications in various areas such as car dash cameras, security, home surveillance, baby and adult monitoring, and others. It is employed across different verticals, including banking, financial services, and insurance (BFSI), manufacturing, education, hospital and healthcare, household, and more.

The wireless security cameras market research report provides wireless security cameras market statistics, including wireless security cameras industry global market size, regional shares, competitors with a wireless security cameras market share, detailed wireless security cameras market segments, market trends and opportunities, and any further data you may need to thrive in the wireless security cameras industry. This wireless security cameras market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The wireless security cameras market consists of revenues earned by entities by providing various services such as security or monitoring, business surveillance, event streaming, smart home integrations, and remote access. The market value includes the value of related goods sold by the service provider or included within the service offering. The wireless security camera market also includes sales of 3G/ 4G cameras, WIFI cameras, Bluetooth cameras, cellular cameras, battery-powered cameras, solar-powered cameras, HD cameras, c-mount cameras, and wireless cameras. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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