Overview
The body-worn camera market will witness a healthy growth from 2018 to 2024, a research report suggests. Growing at a CAGR of 13.8%, the market is projected to reach US$990 million by 2024. The increasing use of connected devices is expected to support the market growth along with contracts between law agencies and security service providers. As predicted by analysts, legal policies will negatively affect the market’s performance from 2018 to 2024. During the forecast period, the market will be supported by advanced security solutions and a rise in the disposable income. Legal policies concerned with privacy on the other hand will challenge body cameras sector based organizations functioning in the global Body Worn Camera Market Size. Analysts have split the market into mode of operation, end-users, and resolution segments based on products and services.
Body cameras based companies have been profiled. Privacy and data theft related concerns are set to affect the global market during the forecast period 2018 to 2024. The report also provides the market’s performance forecasts till 2024. Analysts have studied the strategy of body cameras segment based organizations to help new entrants and established businesses. The body cameras sector itself is supported by the growth of communication channels as well as the rising industrialization. During the forecast period 2018 to 2024, the body-worn camera market is set to witness a health growth across mode of operation, end-users, and resolution segments as well as regional markets.
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Market Segmentation
The body cameras sector has seen growth across mode of operation, end-users, and resolution segments owing to a rise in disposable income and the changing social behaviour. To study the market, analysts have further segmented mode of operation, end-users, and resolution into recording, live streaming, and recording on the basis of mode of operation. The market is further segmented into resolution sub segment which is split into full HD, HD, 4K, and others. Additionally, the body-worn camera market on the basis of end user is segmented into law enforcement, military, sports & leisure, transportation, and others.
The segmental analysis presented in the report provides body cameras field based organizations insights into key growth factors such as consumers aiming for more convenience as well as challenges such as demand and supply gaps the market will face from 2018 to 2024. Favorable government policies and consumers aiming for more convenience are some of the key factors having an influence on body cameras industry based companies, suggest analysts as per the body-worn camera market report. But the report also identifies the unavailability of professional services and the lack of investments in research and development as major threats companies in body cameras will face till 2024.
Regional Overview
Body cameras market based companies in the body-worn camera market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Technological developments will be a key growth driver for regional markets. However, dynamic policies and regulations will turn out to be a threat. For the forecast period 2018 to 2024 each of these regional markets are studied in the report. Starting from North America, the regional market and body cameras vertical based companies are spread across the United States, Canada, and Mexico. Growing concerns regarding high cost will turn out to be a major challenge from 2018 to 2024. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the presence of effective communication as well as the presence of untapped market opportunities, suggests the report. Similarly, the body cameras sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the body-worn camera market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2024.
Competitive Landscape
The global body-worn camera market research report brings a comprehensive study of mode of operation, end-users, and resolution market segments, regional analysis, and body cameras vertical based company details of key players. As the forecast period 2018 to 2024 will bring new opportunities for the market owing to a rise in disposable income and the changing social behaviour, the market is set to grow at a compound annual growth rate of 13.8% and is predicted to reach a value of US$990 million by 2024. With SWOT analysis of body cameras sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the shifting preference for cheaper alternatives and the high cost of product and maintenance, companies in the body cameras sector can change the way business is done.
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Industry News
When asked about the legislation that will be filed, police said that enacting such a programme nationwide has become a "top priority," and that the murder of George Floyd brought Delaware's law enforcement leaders together to ensure that meaningful improvements were made. The bill provides statewide consistency for the various services that are currently dispersed across the state. Last week, the Wilmington Police Department announced plans to establish a city-mandated programme, and Jennings noticed that the New Castle County Police Department had already implemented body-worn cameras during her tenure there.
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