Either to have it under power 24/7 or to switch it on/off daily ?
Just for some context, in our setup the camera is connected to a USB hub which provides the power. Currently this hub is running 24/7, but its power could be connected to a relay switch, and hence all connected USB devices could be switched off.
Usually, both of them are fine.
In general, the following factors may have a greater impact on camera life:
1, Oxidation. Oxygen reacts with the metal inside the camera, causing a change in performance. Then the camera is broken.
2, Abnormal power supply. Sometimes, unusual electrical impulses, such as static electricity, can destroy the camera's internal components.
3, Vibration. Vibration may cause some solder joint contact problems.
4, Corrosion. Where humidity is high, corrosion can lead to short circuits.
Compare with thses factors, switch off or run continuously do not matter.