Wi-Fi Camera Market is Anticipated to Grow at a CAGR of 15.3% During the Forecast Period 2018-2025, Says Esticast Research and Consulting
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As per the report “WiFi Camera Market By Type ( Security & surveillance camera, Digital camera with WiFi, Car camera, Sports camera ), By Application ( Home security, Consumer electronics, Sports enthusiasts, Car security ), Industry Trends, Estimation & Forecast, 2017 – 2025″
In 2017, the Security & Surveillance Wi-Fi Camera segment generated the highest revenue share in the global Wi-Fi camera market. Among major regions, United States was the highest revenue generating market, holding nearly 20% of the market share, in 2017.
“Wi-Fi camera market has gained a plethora of customers who desire to stay connected or are addicted to social platforms. These cameras have gained importance in various areas such as sports, transportation, surveillance, and networking among others. Owing to the lucrative industry growth the market is attracting more number of players. However, the new entrants are facing pressure in matching up the quality and product variations offered by the existing players.”
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Wi-Fi security cameras are emerging out as the most adopted security and surveillance appliance in the modern world. IP security cameras are a part of a security system in many homes, businesses and work places. Their ability to access and stream live footages on a cell phone or on a laptop, renders them a high market share and lucrative opportunities.
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Millennial’s desire to stay connected propels market players to enhance their product portfolio
The desire of millennial to stay connected with their social circle encourages market players to modify their products as per the changing needs of the customers. Moreover, the improving economic base of emerging nations, has increased the penetration of IoT, which is supposed to offer futuristic opportunities to the market players. In addition to this, the camera and picture recording technology has also been modified frequently as per the usage requirement of these cameras in various applications such as home security, sports, media and many others.
United States emerged as a market leader and is expected to grow with an impressive growth rate during the forecast period
United States held nearly 20% market share in terms of revenue, of the global market. It is anticipated to maintain its dominance in the long run and exhibit an impressive growth during the forecast period. The increasing demand for smart homes in the region is fuelling the growth of Wi-Fi camera market. However, with increasing competition and declining profit margins, players have focused towards technological innovation and acquiring/partnering with other players in order to complement their skill-sets and strengthen their foothold.
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KEY FINDINGS OF GLOBAL WI-FI CAMERA MARKET, 2017-2025
• United States led the global Wi-Fi camera market in 2017, in terms of revenue, by holding nearly 20% of the total share.
• Germany is witnessing a surging trend in the availability of built-in Wi-Fi cameras in its retail sector.
• Market players are focusing on joint ventures, mergers and acquisitions, technology innovations in order to gain competitive advantage.
• The price of Wi-Fi cameras have declined in past few years and the trend is expected to continue in coming future.
Some key market players are Canon, Sony, Samsung, Panasonic, Nikon, Gopro, Kodak, Fujifilm, Olympus, Ricoh, Garmin, TP-Link, HIKVISION, Netgear, D-Link, JADO, Philips, LG, Uniden, Motorola, Summer Infant, Dahua, iON Cameras, and TASER International.