Global market value for video surveillance is estimated at US$20.5 billion in 2016, up 13.9% year-on-year, and will continue at double-digit rates in 2017 and 2018, according to MIC (Market Intelligence & Consulting Institute), a Taipei-based IT research institute. China's video surveillance systems are mostly used in the government, finance, public safety, transportation, and electricity sectors.
China Video Surveillance Application Share by Sector
Source: Shanghai DunZhi Consulting, compiled by MIC, July 2016
Smart IP camera has a full range of features but high levels of product homogeneity. In addition, they can only be categorized based on application usages, for instance smart IP cameras for baby care will specialize in voice detection and for elderly care will focus more on video surveillance and real-time interactions.
Smart IP camera is a composition of smart living and therefore it is a must to establish a platform on which various smart living products are consolidated. This will put IoT companies into an advantage compared to traditional security ones; since the smart security market is only at a nascent stage, it is too early to tell who will dominate in the future.
To see more about this report, please visit: The Chinese Smart Home Market: IP Camera
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Market Intelligence & Consulting Institute (MIC), based in Taipei, Taiwan, was founded in 1987. MIC is Taiwan's premier IT industry research and consulting firm providing intelligence, in-depth analysis, and strategic consulting services on global IT product and technology trends, focusing on markets and industries in Asia-Pacific. MIC is part of the Institute for Information Industry. https://mic.iii.org.tw/english