The global security cameras (IR illuminator) market is expected to reach a value of approximately US$ 3.1 billion by the year 2023. This growth is primarily driven by the rising incidence of theft on a global scale. To combat this issue and enhance public safety, there has been a widespread deployment of security cameras featuring IR illumination technology.
As a result of this trend, it is anticipated that the market’s revenue could exceed US$ 6.5 billion by the year 2033. This projection suggests a consistent annual growth rate of 7.5%.
The increasing need for enhanced security and surveillance measures is primarily driving the global market. IR illuminator technology plays a vital role in enabling clear visibility during low-light conditions, thus boosting the demand for these cameras.
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The increasing rate of criminal activities and the need for public safety are driving the demand for security cameras with IR illuminators. Even in difficult lighting situations, these cameras provide high-quality video recordings. Therefore, they aid in crime prevention and investigation.
The increasing awareness about the benefits of video surveillance for business intelligence and operations management is driving the adoption of security cameras with IR illuminators. These cameras help organizations monitor their premises, improve productivity, and ensure safety.
The increasing incidents of vandalism and property damage drive the demand for security cameras with IR illuminators in residential areas. These cameras act as a deterrent and provide valuable evidence in case of any criminal activities. The increasing demand for video surveillance in the healthcare sector also drives market expansion.
Integration of advanced video analytics capabilities is a prominent trend in the market. IR illuminator cameras with built-in video analytics offer feature like motion detection, facial recognition, and object tracking. These features enhance overall security effectiveness.
The rapid urbanization in emerging economies is anticipated to present lucrative opportunities for the global market. Growing infrastructure development and the need for urban surveillance systems contribute to the demand for IR illuminator cameras.
The expansion of the e-commerce sector and the need for warehouse security is likely to open up growth prospects for the market. IR illuminator cameras can effectively monitor large warehouse spaces, prevent theft, and enhance inventory management. Moreover, the need for enhanced border security and surveillance is expected to offer significant opportunities.
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Key Takeaways from this Security Cameras (IR Illuminator) Market Report:
- The security cameras industry in the United States is predicted to reach US$ 1.0 billion by 2033.
- The security cameras industry in the United Kingdom is estimated to expand at a CAGR of 5.9% between 2023 and 2033.
- During the forecast period, the security cameras industry in China is expected to reach a market valuation of US$ 1.7 billion.
- The security cameras industry in Japan is predicted to boom at a 7.7% CAGR through 2033.
- South Korea’s security cameras industry is predicted to achieve a market revenue of US$ 401.5 million by 2033.
- With a CAGR of 7.4% from 2023 to 2033, the fixed segment is expected to dominate the security cameras industry.
- With a CAGR of 7.3%, the city infrastructure segment is expected to dominate the security cameras industry until 2033.
Competitive Landscape of this Market:
Key players are fully engaged in extensive research and development to improve the capabilities of their products. They are also broadening their product offerings to provide a diverse selection that meets the varied requirements of customers. Market leaders are also investing in strategic partnerships and acquisitions to strengthen their market position and expand their global reach.
Key Players in the Security Cameras (IR Illuminator) Market:
- Arecont Vision LLC
- Avigilon Corporation
- Axis Communication
- Bosch Security Systems
- Canon Inc
- Cisco System Inc
- Dahua Technology
- Hikvision Digital Technology Co.Ltd
- Honeywell International
- Mitsubishi Electric
- Panasonic Corporation
- Samsung Techwin
Recent Developments in this Market:
- Dahua Technology introduced the Full-color Smart Dual Illuminators Camera Series during its online launch event in June 2022. It integrates two illuminators and three supplementary light modes. This combination allows the cameras to capture clear and vivid full-color images while reducing the requirement for continuous use of warm light.
- Panasonic Corporation broadcasted in October 2021 that it has successfully created new PTZ cameras and introduced a brand new line-up of products. The education industry and businesses are swiftly adjusting to the fast-paced digital transformation prompted by the new normal. This highlights the vital importance of effective communication during online conferences.
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Security Cameras (IR Illuminator) Market Segmentation:
By System:
- Analog Based
- IP Based
By Application:
- Border Security
- City Infrastructure
- Commercial
- Institutional
- Industrial
- Residential
By Feature:
- PTZ
- Fixed
- Others
By Camera Resolution:
- Non HD Resolution
- HD Resolution
- Full HD Resolution
- UHD Resolution
By Type:
- Indoor
- Outdoor
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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