According to the new research report published by The Insight Partners, titled “Video surveillance Market - Global Analysis and Forecast to 2025”, The global video surveillance market is expected to grow at a CAGR of 11.8% during the forecast period 2018 – 2025, to account to US$43.8 Bn by 2025.
Video Surveillance is an advanced technology used for monitoring various activities for safety, managing, and providing exact information to the customers when needed. Video surveillance is more than just observing, recording and storing data. This surveillance can be done by using advanced electronic equipment’s such as closed circuit television (CCTV), which are installed in places such as traffic signals, hotels, schools, offices, and many more. With growing crimes across the globe, the need for enhanced protection and surveillance systems is highly important for commercial, residential, industrial, and infrastructure & institutional. Furthermore, the established companies in the industry are researching on development of robust technologies in order to enhance the operation of video surveillance system installed on various places to meet the surging demand for security and surveillance.
The market for video surveillance market is impacted by several factors such as rise in crime rates, terrorism and civil conflict activities is forcing the governments to install video surveillance systems in many places across the countries. The boosting demand of artificial intelligence in video surveillance systems for various applications namely facial recognition, motion detection, and so on. These factors are currently impacting positively on the growth of market for video surveillance and is expected to drive the market for video surveillance during the forecast period from 2018 to 2025. Nevertheless, the evolution of market is being hindered by increasing data losses in modern video surveillance cameras or IP cameras operate over Wi-Fi. Furthermore, intensive research and developments being carried out by different video surveillance system and solution manufactures are poised to help the market for video surveillance to escalate over the years in future.
Key findings of the study:
Growth in the recent five years is primarily driven by two major factors, such as increasing security concerns owing to increased terrorist activities, civil unrest actions, across the globe and rising demand for internet protocol (IP) cameras among various industries.
The top 10 industry players operating in the field of video surveillance across the globe includes Panasonic Corporation (Japan), Samsung Electronics Co., Ltd. (Korea), Sony Corporation (Japan), Pelco Corporation (Schneider Electric) (US), Robert Bosch GmbH (Germany), IndigoVision Group Plc. (UK), Honeywell International Inc. (US), Dahua Technology Co., Ltd. (China), FLIR Systems, Inc. (US), Axis Communications AB (Sweden) among others.
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