Report : Surveillance Camera Market to 2027 - Global Analysis and Forecasts by Type (Analog Cameras and IP Cameras); Product Type (Dome Cameras, Bullet Cameras, Box Style Cameras, PTZ Cameras, Thermal Cameras, and Others); End User (BFSI, Government & Defense, Commercial, Manufacturing & Construction, Healthcare, Logistics & Transportation, Residential, and Others)
Integration of artificial intelligence in surveillance cameras to provide growth opportunities for surveillance camera market players
According to the latest market study on "Surveillance Camera Market to 2027 – Global Analysis and Forecast by Type (Analog Cameras and IP Cameras); Product Type (Dome Cameras, Bullet Cameras, Box Style Cameras, PTZ Cameras, Thermal Cameras, and Others); End User (BFSI, Government & Defense, Commercial, Manufacturing & Construction, Healthcare, Logistics & Transportation, Residential, and Others); and Geography", the surveillance camera market is estimated to reach US$ 45.93 Bn by 2027 from US$ 21.82 Bn in 2018.
In the global video surveillance industry, there are various future trends which are projected to boost the adoption of surveillance cameras across diverse industry verticals. Some of the prominent trends include artificial intelligence based end-to-end security solutions, cybersecurity features, cloud based solutions, privacy management, and vertical specialized solutions. The integration of technologies such as artificial intelligence, cloud, and internet of things into existing and upcoming surveillance equipment and solutions to meet the challenging demands customers is fuelling the future growth of global surveillance camera market. Artificial intelligence (AI) and deep learning (DL) are playing increasingly more important roles in the surveillance camera market and offer significant benefits over conventional video analytics. Advancements in AI is expected to boost surveillance cameras by enabling footage to be constantly monitored and instantly analyzed. The artificial intelligence facilitates in monitoring, feeding the captured imageries and alerting the guards in case of suspicious activities in and around the workstations. Also, AI is used in video surveillance cameras for wide range of applications such as facial recognition, motion detection, license plate reading, and counting people in retail stores or shopping malls among others. With the usage of artificial intelligence, the end users are capable of leveraging specific analytics data that helps in actionable intelligence for various functions. The automated surveillance is booming through the new machine learning techniques offering CCTV cameras the capability to spot troubling behavior without human supervision. The IT companies and the surveillance systems manufacturers are working together to develop advanced AI-based security cameras for wide range of video surveillance applications.
Geographically, APAC region holds the largest share followed by the North America and Europe region in the surveillance camera market for the current year. The countries in the Asia Pacific, such as China, India, South Korea, Vietnam, and Singapore, are prone to terrorist activities and civil unrest misconduct, which is leading the regions to develop, manufacture, procure and implement technologically enriched video surveillance systems. Among the countries in Asia Pacific, China dominated the market due to increased research and development of video surveillance systems, and the presence of established companies and tier 2 and tier 3 companies in the region. The adoption rate of video surveillance cameras among countries in the Asia Pacific led the region to grow at a prime rate during the forecast period.
The market for surveillance camera has been segmented on the basis of type, product type, end user, and geography. Based on type, the market is segmented into analog and IP cameras. Based on product type, the surveillance camera market is segmented into dome cameras, bullet cameras, box style cameras, PTZ cameras, thermal cameras, and others. The market is further segmented on the basis of end users into BFSI, government & defense, commercial, manufacturing & construction, healthcare, logistics & transportation, residential, and others.
The major companies operating in surveillance camera market include Canon Inc., Dahua Technology Co., Ltd, FLIR Systems, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Hanwha Techwin Co., Ltd., Honeywell International Inc., Panasonic Corporation, Pelco Corporate, Robert Bosch GmbH, and The Infinova Group among others. among others. There are various other players operating in this market which were studied and analyzed during the course of this study.
The report segments the global surveillance camera market as follows:
Global Surveillance Camera Market – By Type
Global Surveillance Camera Market – By End-User
Global Surveillance Camera Market - By Geography