IP camera market expected to grow by 300 percent, according to report
International Data Corporation (IDC) has released a new market research study entitled "Monitoring the Network Surveillance Market Chain." The study claims that the revenue stream from IP network cameras will increase from $9.3 million in 2007 to $26.5 million in 2013. That's almost a 300 percent growth rate.
There are a number of reasons for the estimated growth. For one, technology continues to improve, and as it does, prices tend to fall as there's more and more competition among manufacturers. That means the end user gets higher quality equipment at a lower price. A wide range of users are taking advantage of this new technology to improve their security systems, from the education sector to retail, transportation, gaming, and public safety, not to mention home surveillance.
IP-based video surveillance solutions are becoming increasingly easy to install. Users can connect IP cameras to their existing network and view footage remotely from anywhere, at any time. Remote monitoring, limitless digital storage, and flexible cost-effective storage are all key benefits that are inspiring many to switch from analog to IP surveillance solutions.
While IP cameras fuel the surge, storage is another key component in the growth of the IP video market. Users need a way to capture and store their surveillance content, which means the market for NVR servers and video management software is also expected to grow in the coming years. According to the IDC study, captured network surveillance content will grow by almost 52 percent, and archived network surveillance content could increase by over 50 percent in the next few years. The study predicts IP camera sales will overtake analog cameras altogether by 2012.