Market Analysis
Global Body Worn Camera Market is projected to reach USD 368.95 billion, growing at 72.3% CAGR over the forecast period (2020-2030)
Use of Connected Wearables
The growing popularity of connected devices is expected to fuel the worldwide body-worn camera market. Wearables are gaining popularity due to their small size and portability. Demand for BWCs may be boosted by applications in firefighting, private security, journalism, and military activities. The future of visual communication, as well as the possibility of voice computing, can auger well for worldwide industry growth. Contracts between law enforcement agencies and security solution providers might increase the demand for crime-reduction solutions. The incorporation of AI into these systems can improve their characteristics, such as suspect identification, and influence market volume numbers.
COVID-19 Impact on the Global Market
The COVID-19 pandemic has impacted corporate operations around the world, with several industrial businesses closing down units and infrastructure. Governments are making efforts to revitalize the semiconductor and consumer electronics industries. Due to the high procurement rate by law enforcement agencies, the market for body-worn cameras is expected to expand. Motorola Solutions, for example, has introduced WatchGuard continuous-operation BWC, which operates beyond a 12-hour shift. Officers can patrol with confidence due to swappable battery packs and increased storage capacity. The release of emergency funding to alleviate the consequences of the pandemic can help the market thrive.
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Market Segmentation
The global Body Worn Camera System Market has been segmented into mode of operation, resolution, and end-user.
By mode of operation, the global body worn camera market has been segmented into Recording and Live Streaming and Recording.
By resolution, the global body worn camera market has been segmented into Full HD, HD, 4K, and others.
By end-user, the global body worn camera market has been segmented into Law Enforcement, Military, Transportation, Sports & Leisure, and others.
Regional Analysis
North America to Gain Lion’s Share in Market
Due to different state funding programs supporting its usage in law enforcement agencies, North America is likely to capture the lion's share of the worldwide body worn camera market. The region is predicted to grow at an 18.3% CAGR during the forecast period as a result of several states in the country initiating pilot programs to improve the effectiveness of law enforcement officials. The growing number of federal agencies implementing these programs may highlight the market's untapped potential. The United States is expected to dominate in the technological front of body worn cameras, and the availability of smart devices can bode well for the market.
Key Players
Reveal Media Limited (U.S.), WatchGuard Technologies, Inc. (U.S.), Axon Enterprises, Inc. (U.S.), Pinnacle Response Ltd. (Ireland), GoPro, Inc. (U.S.), Panasonic Corporation (Japan), Coban Technologies, Inc. (U.S.), Transcend Information, Inc. (Taiwan), Digital Ally, Inc. (U.S.), and Motorola Solutions (U.S.) are major players of the global body worn camera market.
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