LONDON--(BUSINESS WIRE)--The global pinhole camera market size is expected to grow by USD 398.45 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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With the increasing adoption of closed-circuit television (CCTV)-based surveillance practices, the use of pinhole cameras has increased globally. Pinhole cameras are comparatively small in size and cannot be easily spotted. Owing to their small size, these cameras can be kept hidden under various objects, which provides their covert feature to perform surveillance at home, workplaces, and public places. Pinhole cameras are also ideal for use in spy operations and provide extremely high-quality images. These cameras can also be easily modified to customize the image quality as per requirement. In addition, a significant rise in criminal activities such as robberies, property crimes, and burglaries has boosted the sales of pinhole cameras for use in home monitoring and CCTV systems.
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As per Technavio, the growing advances in pinhole cameras will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Pinhole Camera Market: Growing Advances in Pinhole Cameras
Technological advances in pinhole cameras include improvements in features such as dynamic range, automated image and video analytics, video quality, and shutter designs. For instance, technological improvements in the dynamic range have helped vendors offer products that capture vivid pictures under intense contrast lighting conditions. Vendors are also focusing on the use of smart features such as intelligent video systems. The integration of the intelligent video system allows pinhole cameras to self-detect and analyze moving objects for improved quality image and video output. Vendors are also investing a significant share of their capital on product R&D and are constantly launching new and advanced products with enhanced and innovative features. In November 2018, ONDU Pinhole announced the launch of the new range of ONDU Mark III pinhole cameras with 135, 120, medium, and large format options for capturing images. Such growing advances in pinhole cameras are expected to drive the pinhole camera market growth during the forecast period.
“Factors such as the increasing availability of pinhole cameras on online sales platforms, and the growing demand for smart video surveillance systems in smart cities will have a significant impact on the growth of the pinhole camera market value during the forecast period,” says a senior analyst at Technavio.
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Pinhole Camera Market: Segmentation Analysis
This market research report segments the pinhole camera market by application (commercial surveillance, home surveillance, and other applications) and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the pinhole camera market share in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increasing availability of pinhole cameras on online sales platforms, growing demand for smart video surveillance systems in smart cities, and rising adoption among amateur photographers and educational institutes.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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