by The global Cloud Camera Market is estimated to be valued at US$ 12.88 Bn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cloud cameras store images and videos on remote servers instead of locally. This offers advantages like remote monitoring and access from any device with an internet connection. They are popular for home security and baby monitoring due to the convenience of accessing footage from anywhere.
Market key trends:
One of the key trends in the cloud camera market is the development of Artificial Intelligence (AI)- enabled cameras. AI capabilities allow these cameras to detect movement, sounds and facial recognition. This enables more automated detection of events and people. For example, AI cameras can identify family members and alert only for strangers. The integration of AI is improving security surveillance and boosting the cloud camera market.
The global cloud camera market has witnessed significant growth in recent years driven by the increasing adoption of cloud based services integrated with IoT technology. The integration of advanced features like facial recognition, motion detection and cloud recording has made cloud camera system more user-friendly and scalable. Cloud cameras also provide flexibility and portability as users can access the live feed and recorded videos remotely from any device. The increasing focus on security and surveillance across residential and commercial sectors along with the declining prices of cloud cameras are expected to drive the market going forward.
SWOT Analysis
Strength: Cloud cameras provide centralized monitoring and management. The cloud storage enables users to access real-time video feeds and recorded videos from any location.
Weakness: Cloud reliance – Disruption/failure of internet connectivity can hamper cloud camera functionality. Data privacy and security concerns persist with cloud storage of video feeds.
Opportunity: Scope for integration of advanced AI and ML capabilities for more insightful analytics. Growth opportunities in smart cities and infrastructure projects utilizing cloud camera technology.
Threats: Presence of cheaper alternative IP cameras can eat into margins. Stringent regulatory compliance for data privacy across regions pose challenges.
Key Takeaways
The Global Cloud Camera Market Size is expected to witness high growth, exhibiting CAGR of 14% over the forecast period, due to increasing adoption of smart security systems integrated with cloud and AI technologies.
Regional analysis: North America dominates the global cloud camera market currently, owing to high technology adoption and stringent safety regulations. Asia Pacific is expected to witness the highest growth during the forecast period with China, Japan and India emerging as lucrative markets for cloud camera solutions driven by increasing safety concerns and infrastructure developments.
Key players analysis: Key players operating in the cloud camera market are Arlo Technologies Inc., Ring (owned by Amazon), Nest (owned by Google, Â a subsidiary of Alphabet Inc.), Wyze Labs Inc., Logitech International S.A., Blink Home Security (owned by Amazon), D-Link Corporation, TP-Link Technologies Co., Â Ltd., Ezviz (a subsidiary of Hikvision), Reolink Digital Technology Co., Â Ltd., Zmodo Technology Corporation, Canary Connect Inc., Netgear Inc., Eufy Security (a division of Anker Innovations), Swann Communications Pty Ltd. These players are focusing on integrating advanced AI capabilities and expanding their cloud infrastructure to stay ahead of the competition.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
