PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226500
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226500
Global Wi-Fi Camera Market is valued approximately USD 17.80 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.60% over the forecast period 2022-2029. Wi-fi offers a wide range of features such as quick access to storage, cloud storage system for storing photos and it eliminates the need for a USB cable which reduces the hassle of connecting the USB Cord. The Wi-Fi Camera market is expanding because of factors such as increasing demand for residential security cameras and growing influence of social media platforms. It's an oligopolistic market dominated by Canon, and Nikon.
Security concerns and surveillance are major reasons behind increasing adoption of Wi-Fi cameras. Its prevalence has progressively increased during the last few years. According to Statista, in 2022, the video surveillance camera market was valued at USD 35 billion, with forecasts predicting that it will grow to USD 54 billion by 2026. Furthermore, the information security market has increased considerably over the past years. In 2022, the revenue of the security technology and services market worldwide is expected to peak at USD 172.5 billion. Another important component driving space growing influence of social media platforms. As per Statista, social media usage is one of the most popular online activities. In 2021, over 4.26 billion people were using social media worldwide, a number projected to increase to almost six billion in 2027. In addition, Market leader Facebook, which has more than 2.89 billion monthly active users, was the first social media platform to cross one billion registered accounts. With over one billion monthly active users between them, Facebook, WhatsApp, Facebook Messenger, and Instagram are the four largest social media services now owned by the business. However, the high cost of Wi-Fi Camera stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Wi-Fi Camera Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of major technology giants and start-ups and wide adoption of home security cameras. According to the Statista, Laptops, desktop PCs, web cameras, and Wi-Fi connectivity are the smart technologies with the highest penetration rate of about 66% in 2021. Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as emergence of new companies providing Wi-Fi services, rising technological advancement and support from government bodies in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable