Construction cameras
In terms of revenue, the global construction camera (time lapse camera) market is estimated to expand at a growth rate of 8% during the forecast timeline.
The global construction camera (time lapse camera) market will be largely driven by factors such as a rise in construction or infrastructure development activities and increasing use of advanced intelligent security solutions.
Based on product type, the market includes fixed camera, PTZ (Pan-Tilt-Zoom) camera, indoor camera, and mobile camera trailers. Fixed cameras are anticipated to dominate the market.
In terms of power, AC and DC power driven cameras accounted for around 76% of the market share in 2019. In remote locations and job sites, where the supply of electricity is inconsistent, installation of solar-operated time-lapse cameras are considered the preferred option.
Based on application, site progress monitoring dominated the market in the year 2019.
In terms of distribution channel, the offline mode of distribution held over 67.5% of the market share in terms of value in the year 2019. However, the online mode of distribution is projected to expand rapidly during the forecast period.
The major driving factor for the market is the evolution of the construction industry and the rapid increase in the number of infrastructure development projects in emerging economies. Advances in terms of technology and the launch of construction cameras with innovative features is anticipated to create new business opportunities for manufacturers and distributors. Live site monitoring, customised time lapse, and 24/7 intelligent security with motion alerts has improved performance for project managers, owners, and other stakeholders.
Lack of awareness about the use of cameras for progress monitoring, especially in developing countries is a restraining factor impacting the overall growth of the market. Individuals still have a perception about construction cameras being used for security and safety of building materials and construction equipment only.
Currently, the Asia Pacific dominates the market followed by Europe. Asia Pacific is projected to be an emerging market and is anticipated to expand at a significant rate during the forecast period. Use of construction cameras are projected to rise in China, India, Japan, and other Southeast Asian countries, due to increasing number of construction projects and a rise in the use of smart devices and cloud-based services.
In the Middle East and Africa, the demand for construction cameras is projected to expand at a substantial growth rate, especially in GCC countries, which are seeing a rapid increase in construction activities such as construction of commercial complexes and high-rise buildings in UAE, etc., and thus are projected to generate opportunities for manufacturers and distributors of construction or time lapse cameras in the near future.
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