New York, USA, June 27, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Waterproof Security Cameras Market” Research Report: By Product, Range, application, and Region - Forecast Till 2032, the market is anticipated to acquire a valuation of approximately USD 1.2 Billion by the end of 2032. The reports further predict the market to flourish at a robust CAGR of over 5% during the assessment timeframe.
Waterproof Security Cameras Market Key Players
Eminent industry players profiled in the global waterproof security cameras market report include.
- Fujifilm
- Nikon
- Go-Pro
- Kodak
- Canon
- Sony
- Honeywell International
- Robert Bosch GmbH
- Continental AG
- Magna Corporation
- Intel Corporation
- Panasonic
- FLIR Systems
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Report Scope:
| Report Metric | Details |
| Revenue Forecast in 2030 | USD 1.2 Billion |
| Growth Rate | CAGR of 5% from 2023 to 2032 |
| Base Year | 2022 |
| Study Period | 2023-2032 |
| Key Market Opportunities | Consumers interest increases |
| Key Market Drivers | Greater concerns over security Shift from traditional security cameras |
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Drivers
Increased Security Concerns to Boost Market Growth
Effective monitoring systems are becoming more and more necessary due to increased crime rates & security risks. In outdoor settings, waterproof security cameras offer improved defense against vandalism, theft, and other criminal activity. They are perfect for guarding buildings, construction sites, parking lots, and other sensitive places because of their capacity to function dependably in adverse weather.
Opportunities
Advances in Technology to offer Robust Opportunities
The development of high-resolution image sensors, night vision capabilities, & sophisticated video analytics features are all results of improvements in camera technology. Even in low light, waterproof security cameras now provide sharper photos and recordings in addition to cutting-edge features like facial recognition, motion detection, & license plate recognition. The desire for increasingly advanced waterproof camera systems is fueled by these technical breakthroughs.
Restraints and Challenges
Higher Cost to act as Market Restraint
The higher cost of such cameras, limited demand, technological limitations, installation complexity, and maintenance & upkeep may act as market restraints in the forecast period.
Waterproof Security Cameras Market Segmentation
The global waterproof security cameras market is bifurcated based on product, range, and application.
By product, dome will lead the market over the forecast period as this allows more secure and faster land surveillance across the globe.
By range, the 10-30m will domineer the market over the forecast period. These waterproof cameras are ideal for underwater photography and filming since they may be used at depths of up to 15–30 meters. This is because they can take crisp pictures and videos at virtually unreachable depths. Additionally, a range of 30-60m waterproof cameras are available, from basic point-and-shoot versions to more sophisticated DSLR cameras. These cameras are perfect for underwater photography & filmmaking as well as other water sports like snorkeling, surfing, and kayaking.
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By application, commercial will spearhead the Waterproof Security Cameras Market over the forecast period. There have been over the years several significant trends in the commercial software sector. Due to the rising emphasis on employee safety, the need for monitoring & surveillance has expanded across a number of industries.
COVID-19 Analysis
Prior to the COVID-19 outbreak, the market for waterproof security cameras was expanding steadily as a result of rising security and surveillance concerns. The epidemic disrupted global supply chains, which had an effect on the availability and manufacture of different electrical components and materials needed to make waterproof security cameras. As a result, there were market delays and shortages. Due to lockdown procedures and economic uncertainty during the early phases of the epidemic, numerous building projects & installations were postponed. The need for the waterproof security cameras temporarily decreased as a result of this.
The need for remote monitoring systems has grown due to social segregation policies and movement limitations. This covers the requirement for exterior monitoring to maintain safety & security in a variety of settings, including deserted workplaces, shuttered stores, and limited public locations. The epidemic hastened the uptake of contactless solutions and technology. Thus, there has been a surge in need for sophisticated functions in waterproof security cameras, including facial recognition, motion detection, and remote access options. Given the need of cleanliness and infection control during the pandemic, there may be a rise in need for waterproof security cameras in settings such as healthcare institutions, labs, and other places.
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Waterproof Security Cameras Market Regional Analysis
North America to Head Waterproof Security Cameras Market
The North America market, which had a value of $3.49 billion in 2021, is anticipated to expand at a CAGR of 43.20% during the course of the research period. This is because theft and burglary have increased, installations are simpler, and the product is widely available in the area. Numerous causes, including the need for increased security in the residential, commercial, & industrial facilities, have fueled the need for waterproof security cameras in North America. In order to safeguard their assets and homes, homeowners, companies, and organizations are progressively investing in security systems. In North America, the market is quite competitive, with a large selection of producers and suppliers providing different goods and features.
APAC to Have Admirable Growth in Waterproof Security Cameras Market
From 2023 to 2032, the Asia-Pacific Market is anticipated to see the quickest CAGR growth. This is brought on via a rise in public awareness, asset protection, and lower installation costs. Additionally, the market for waterproof security cameras in China had the biggest market share, while the market for these cameras in India had the quickest rate of expansion in the Asia-Pacific region.
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