IP camera Market Is Thriving Worldwide
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The IP camera market is forecast to exceed $20 billion by 2024. The rise in demand for modern security technologies in industrial facilities to ensure the safety & security of workers will drive the market demand.
The emergence of thermal cameras and the penetration of IoT in video surveillance have led to a steep rise in the demand for Internet Protocol (IP)-based camera systems. The increased adoption of these cameras in commercial buildings and the need for security in residential applications coupled with the rising trend of smart homes are expected to drive the IP camera market over the coming years. Residential security is a major concern among homeowners owing to the escalating rate of home burglary and squatting. The growing number of smartphone users and the availability of attractive installment policies for security solutions are driving the residential market. The key benefits of these cameras are remote video surveillance, intruder alarms, access control, and perimeter surveillance. With the growth in fast pace living within cities and the aging world population, surveillance at home has become ubiquitous in ensuring comfort and safety.