Significant Rise in Adoption of Internet Protocol (IP) Cameras are Leading the Market for Video Surveillance to Soar over the Forecast Period
Published Date : 13/03/2018
According to a new market research study titled 'Video Surveillance Market to 2025 - Global Analysis and Forecasts by Platform, Industries, and Service?, the global video surveillance market was valued at US$ 18.3 Bn in 2017 and is estimated to reach US$ 43.8 Bn by 2025. The report highlights the trends prevalent in the global video surveillance market and the factors driving the market along with those that act as deterrents to its growth.
The global video surveillance market is experiencing a steady growth in the current scenario and is anticipated to rise in the coming years. The necessity of video surveillance systems is constantly increasing and the market is experiencing a steady growth, which is anticipated to continue in the coming years. The market for video surveillance consists of well-established players as well as emerging players, which invests substantial amounts in research and developments in order to innovate and design advanced technology for their customers. The demand for video surveillance systems is majorly among the commercial sectors and infrastructural sectors in both developed economies and emerging economies. Followed by commercial and infrastructural sectors, industrial sectors such as manufacturing units, oil & gas industries, energy and power production units among others are also procuring video surveillance systems in huge numbers in order to secure their workstations.
The growth of market for video surveillance is highly influenced by the remarkable growth in adoption of technologically enhanced video surveillance systems. The major advantages of video surveillance are deterring crime rates, gathering sufficient information, remote monitoring capability, maintain records, and facilitating in decision making, among others. The world is experiencing outgrowth of crime rates, terrorist activities and civil unrest actions, leading industries, residential complexes, individual houses, commercial areas, infrastructural sectors, and various institutional sectors to implement video surveillance systems in order to enhance the security capabilities. The advent of internet protocol (IP) cameras has led the end users to adopt the latest technology heavily as these cameras are capable of enhancing imaging skills than traditional or analog camera. The IP cameras are highly beneficial to the end users as these cameras transfer captured imageries over internet within a fraction of second which facilitate the monitor operator to make decision promptly about the situation. In addition, various IP cameras are Wi-Fi Active, facilitating in transfer of data or information seamlessly.
The video surveillance market is matured in North America, owing to rapid deployment of surveillance cameras. The North America region contributed the maximum market share in the video surveillance market, attributing to the increasing demand for surveillance cameras due to rising crime rates, civil unrest in and around the countries. Moreover, the governments in North America region is also undertaking various initiatives to deploy increased number of surveillance cameras in traffic signals, and highways or expressway in order to control the traffic and foot traffic. Followed by North America, the market is dominated by Asia Pacific region. The countries in Asia Pacific such as China, India, South Korea, Vietnam, and Singapore among others 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.
The research study on video surveillance market also covers different companies worldwide operating in the market for video surveillance. The key players covered in the research study includes Honeywell International Inc., Panasonic Corporation, Robert Bosch GmbH, Sony Corporation, Samsung Electronics Co., Ltd., Pelco Corporation (Schneider Electric), Axis Communications AB, FLIR Systems Inc. Dahua Technology Co., Ltd., and IndigoVision Group Plc.
Global Video Surveillance Market Breakdown, by Regions, 2017 (%)
Source: The Insight Partners Analysis
The report segments the global video surveillance market as follows:
Global Video Surveillance Market - By Platform
Global Video Surveillance Market - By Industries
Global Video Surveillance Market - By Service
Global Video Surveillance Market - By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)