According to the research report titled ‘Asia Pacific IP Camera Market Size By Application, By Product, By Connection, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026’, available with Market Study Report, Asia Pacific IP camera market is anticipated to record an appreciable growth rate over 2020-2026 to surpass a valuation of USD 6 billion by the forecast period end.
 

Rapid urbanization & expansion of the metropolitan and subsequent surge in the demand for smart CCTV monitoring systems for ensuring better safety & security is augmenting Asia Pacific IP camera market growth. Moreover, increasing technological advancements in this field, and growing use of security cameras across various industrial sectors like retail, banking, healthcare, corporate, and transportation are enhancing the industry outlook.   
 

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Moreover, rising number of thefts and crimes in the region is resulting in increased spending on novel technologies for reinforcing security, thus drafting a favorable scenario for market expansion. Furthermore, industry players have been restructuring their business strategies after the Covid-19 pandemic and optimizing the digital channels to boost their revenues.
 

Based on product type, Asia Pacific IP camera industry is segmented into PTZ, fixed and infrared. On the basis of connection, the marketplace is divided into centralized and decentralized. Speaking of the application range, the business space is categorized into residential, commercial and public/government.
 

As stated in the report, PTZ cameras segment held considerable market share in 2019 and is expected to show lucrative growth trends over the forecast duration owing to high adoption rate of these cameras for outdoor applications. Also, development of long-range PTZ cameras that offer high precision are creating new opportunities for the segment expansion.PTZ cameras are widely used in manufacturing and industrial sectors for visual inspection, error control, and error checks. They are also used in banking & finance services and insurance (BFSI) sector for cash management, employee safety, and monitoring purposes.
 

Additionally, the rising number of smart city projects across India and China along with increased need for IoT, digitalization, and higher integration of SaaS-enabled solutions is enhancing the market outlook. Meanwhile, fixed IP cameras segment is exhibiting strong growth due to its extended use in healthcare and retail industries as they allow operator to monitor the crucial areas from their desktops in real-time.
 

Elaborating on the competitive landscape, top players influencing Asia Pacific IP camera industry dynamics are Vivotek Inc., Tyco International Management Company LLC, Sony Group Corporation, Shenzhen Wanscam Technology Co. Ltd., Shenzhen Apexis Electronic Co. Ltd., Honeywell International Inc., GeoVision Inc., D-Link Corporation, Zhejiang Dahua Technology Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., and Bosch Security and Safety Systems.