PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1126495
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1126495
According to Stratistics MRC, the Global Half-Inch CIS Based Surveillance Camera Market is accounted for $ 19.11billion in 2022 and is expected to reach $28.52 billion by 2028 growing at a CAGR of 6.9% during the forecast period. A surveillance camera or security camera is used to protect any property or public space by ensuring that the area is thoroughly monitored and scrutinised for any unusual or irregular behaviour. The emphasis placed by governments across the world on installing security cameras in all public spaces is promoting market expansion in various geographies. Additionally, the integration of IoT-enabled devices, cloud-based services, and the installation of PTZ IP cameras into the current surveillance system is attracting customers' interest and driving a significant increase in the purchase of surveillance cameras.
According to our latest study, due to COVID-19 pandemic, the global Half-Inch CIS Based Surveillance Camera market size is estimated to be worth US$ million in 2021 and is forecast to a readjusted size of USD million by 2028 with a CAGR of % during forecast period 2022-2028. Residential accounting for % of the Half-Inch CIS Based Surveillance Camera global market in 2021 is projected to value USD million by 2028, growing at a % CAGR in next six years. While Analog Camera segment is altered to a % CAGR between 2022 and 2028.
Increase in Need for Safety and Security at Commercial Spaces
Businesses including offices, banks, and retail centres work to provide a secure, orderly atmosphere for its tenants. In these business settings, customised video surveillance solutions are used because they operate in real-time to record events as they happen. the number of security cameras with intelligent software that can be combined with traffic signals to count and better comprehend the flow of pedestrians, bicycles, and automobiles across an intersection is growing thanks to the top largest video surveillance firms. Real-time traffic information are utilised to manage and optimise intersection traffic controllers for the most efficient and secure traffic signal cycles.
Higher cost for installation
As mentioned in a previous piece, running cables is often required for the installation of security cameras, which also involves a lot of effort and a variety of supplies. Smaller systems and wireless cameras may not necessary fall under this category, but initial installation is often more expensive. However, a hardwired system often outlasts wireless alternatives by many years, thus such an installation also yields an exceptional result. In addition, the wires that connect the cameras to the recorder are durable and continue to function even after numerous camera replacements.
Rising/growing demand for CMOS image sensors
Due to their high sensitivity, improved HDR photography capabilities, and capacity to take pictures in a variety of settings, CMOS image sensors (CIS) are in more demand. The need for image recognition is being driven by the demand for 24-hour imaging and AI integration. For instance, e-Tenders were invited for the installation of a CCTV monitoring system through the e-procurement platform in April 2021 on behalf of the President of India (CPPP).
Requirement for high-capacity storage systems and higher bandwidth
By utilising cutting-edge compression techniques and professional-grade image processors, these IP cameras have made it feasible to record images with greater resolution than ever before. The demand for more storage has grown as a result of these high resolution cameras and the necessity for longer video retention times. Therefore, there is a need for storage systems that are specifically created to meet the requirements of contemporary video surveillance requirements. This includes the capacity to control the retention of high-resolution video, to offer high throughput capacities, and to expand quickly to meet present and future retention requirements.
Globally, COVID-19 is having an impact on a lot of enterprises. At addition to other places, surveillance cameras are necessary in banks, shops, and workplaces. In recent years, there has been a noticeable downturn in the electronics market. The market for surveillance cameras has many drawbacks. Additionally, a lot of businesses favour remote employment. The proportion of workers who work in offices is declining. The decline in staff is causing a drop in camera demand. However, the healthcare industry has a significant demand for these cameras. Customers are pouring into the hospital during this time. As a result, the market for surveillance cameras is expanding.
The bullet cameras is expected to be the largest during the forecast period
The basic bullet cameras, dome cameras, c-mount cameras, PTZ cameras, box cameras, and wireless surveillance cameras categories make up the ASEAN half-inch CIS based surveillance camera market. During the anticipated period, the segment selling bullet cameras had the biggest market share. Due to their ability to operate in any climate or situation, bullet cameras are becoming more and more popular. Since these cameras are easily seen from a distance, they serve as a deterrent. Additionally, they have the capacity to take pictures of distant views. Additionally, the camera is shielded by the robust case.
The IP camera segment is expected to have the highest CAGR during the forecast period
The half-inch CIS-based security camera market has been divided into IP camera and analogue camera categories based on technology. It is expected to keep things as they are and forecast the highest CAGR growth over the projected period. IP cameras are becoming more and more common as a result of their advantages. For instance, the recording is accessible from anywhere in the world. Additionally, the video can be archived. Users choose these cameras since they are simple to install and don't require a computer station or coaxial connection. Furthermore, there is not much upkeep needed for these cameras.
Region with highest share:
The greatest market share is anticipated to belong to North America. The United States' established IT infrastructure and sizable installed base are the primary drivers of the market's growth in North America. In the global market, the United States is the leader in terms of the installation of security cameras per capita. Additionally, the region attracts significant investments due to the notable presence of international manufacturers there.
Region with highest CAGR:
The market for half-inch CIS-based surveillance cameras experienced the highest CAGR in Singapore. Due to the significant need for surveillance cameras in Singapore's and Indonesia's residential, commercial, and industrial sectors, the nation presents attractive potential for manufacturers of security camera systems. High-speed imagery has been utilised for a long time by military forces and government organisations to better understand and operate ballistic weapons. As a result, demand for CMOS half-Inch security cameras is increasing. As a result, both established and emerging market participants are making large investments.
Key players in the market
Some of the key players profiled in the Half-Inch CIS Based Surveillance Camera Market include Bosch Security Systems, D-Link, Honeywell, Vintron, Sony Corporation, Ananth Technologies, Panasonic Corporation, HIKVISION, Dahua Technology Co., Ltd., MOBOTIX AG, Axis Communications, FLIR Systems, CP PLUS.
In February 2022, Hangzhou Hikvision Digital Technology Co., Ltd launched a new TandemVu PTZ camera range that integrates bullet and PTZ camera capabilities into a single camera. The TandemVu PTZ camera can monitor large areas and zoom in on specific security incidents while maintaining focus on both viewpoints simultaneously.
In October 2021, Honeywell Automation, a subsidiary of Honeywell India, announced that it would install 7,000 surveillance cameras at 3,000 locations across Bangalore city to accomplish a Safe City project, which falls under the Central Government's Nirbhaya Fund
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.