Increasing Security Concerns Leading to Surge in Adoption of IP Cameras to Provide Growth Opportunities for Video Surveillance Market During 2018–2025
According to our latest market study on "Video Surveillance Market Forecast to 2025 – Global Analysis – by Platforms, Industries, Service, and Geography," the market size was valued at US$ 18.3 billion in 2017 and is expected to grow at a CAGR of 11.8% during the forecast period of 2018–2025, to account for US$ 43.8 billion by 2025.
Video surveillance systems employ video cameras to keep an eye on people, facilities, or locations from afar. Video surveillance is a very effective and cost-effective way to protect people, buildings, and possessions. System, offering, vertical, and region have been used to segment the video surveillance market. Currently, video surveillance is more than just observing, recording, and storing data. The increase in crime rates, terrorism, and civil unrest activities is pushing the governments to install video surveillance systems in various parts of countries. Moreover, the governments of developed nations and developing economies are increasingly undertaking initiatives for smart city, which is also a major driver for the video surveillance market.
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Global Video Surveillance Market Size and Share – by Platforms (Hardware and Software), Industries (Commercial, Residential, Infrastructure, Industrial, and Institutional), Service (Hosted, Managed, and Hybrid), and Regional Forecast (2017–2025)
Video Surveillance Market Size, Share, Analysis & Forecast 2025
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The IP cameras or internet protocol cameras are being adopted at a higher rate than the traditional surveillance cameras at present. The major advantage of IP cameras over conventional cameras is the benefit of transferring captured data or images directly over the internet within a fraction of a second. The TCP/IP cameras are either centralized, which requires Network Video Recorder (NVR) to monitor recordings, or decentralized, in which the camera recording can be stored in any local or remote storing devices. The usage of Wi-Fi is also available with IP cameras for transferring data instantly. In addition, the option for installing various video analytics software in the IP cameras for automatic analysis of the images by the cameras are also increasing the interest among the end users.
The video surveillance market is segmented into platforms, industries, service, and geography. On the basis of platforms, the market is segmented into hardware and software. The hardware segment led the market in 2017. On the basis of industries, the market is segmented into commercial, residential, infrastructure, industrial, and institutional. The commercial segment led the market in 2017. On the basis of service, the market is segmented into hosted, managed, and hybrid. The managed segment led the market in 2017. Geographically, the video surveillance market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2017, North America accounted for a significant share in the global video surveillance market.
Honeywell International Inc.; Panasonic Corporation; Sony CorporationPelco (Schneider Electric); Samsung Electronics Co., Ltd.; Robert Bosch GmbH; IndigoVision Group Plc; FLIR Systems Inc.; Axis Communications AB; and Dahua Technologies Co., Ltd. are among the major companies operating in the video surveillance market.
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