Publication Month: Mar 2018 | Report Code: TIPTE100000143 | No. of Pages: 176 | Category: Technology, Media and Telecommunications | Status: Published
The increasing security concerns leading to IP cameras adoption and the rising incorporation of artificial intelligence (AI) in video surveillance systems are the potential parameters assisting the global video surveillance market growth. Contrary to this, threats to data security and lack of standardization in third-world countries hinder the market expansion.
Video surveillance and monitoring constitute feeding the real-time videos and imageries captured. Security concerns owing to unusual events lead to the burgeoning demand for advanced surveillance systems worldwide. The systems not only capture and store the images and videos but also serves for further evaluation and investigation. The major advantages of video surveillance comprise gathering sufficient information, remote monitoring, maintaining records, and facilitating decision-making. Several market players are integrating IP cameras with video analytics software to analyze captured imageries automatically.
Regionally, North America held the largest share of the global video surveillance market in 2016 and is likely to retain its dominance over the forecast period. Asia Pacific is expected to surge with the highest CAGR during the forecast period.
The most widely used video surveillance service among the end users accounted for hosted service. Currently, the video surveillance market is witnessing a technology shift from analog cameras to IP ones among large enterprises. Various video surveillance system manufacturers and software companies have been developing hybrid video surveillance services, combining the capabilities of analog and IP cameras. Large-scale adoption of hybrid technologies reduces the front-line costs for end users. Enabling the users to connect the cameras with cloud-based services such as google drive, onedrive, and dropbox stands as another major advantage of hybrid services. Thus, the advent of hybrid technology has minimized the problem of data storage. It is anticipated to furnish the future of global video surveillance market.
These days, video surveillance is more than just observing, recording, and storing data. Various fraudulent activities compelled governments to opt for video surveillance systems. Besides, the increasing initiatives for smart city across several developed and developing economies also serves as driving factors for the global video surveillance market. IP cameras are preferred over traditional surveillance cameras, as they transfer captured data or imageries directly over the internet within a fraction of a second. The option of installing video analytics software in IP cameras for automatic analysis of imageries also increases the end-user’s interest. Since civil unrest activities have been growing over the years, IP cameras are being installed in industries, residential complexes, shopping malls, and other vulnerable locations, eventually driving the global video surveillance market growth.
The need for video analytics, big data, and internet of things (IoT) in video surveillance systems is attributed to reduce the analysis timing and improve decision-making capabilities. The AI facilitates monitoring, feeding the captured imageries, and alerting the guards in case of suspicious activities in or around workstations. Video surveillance integrated with artificial intelligence offers a wide range of applications such as facial recognition, motion detection, license plate reading, and counting the number of people in retail stores or shopping malls. The processing power of modern video surveillance cameras has increased fourfold with the incorporation of AI, which in turn enhanced the hosting power of analytics tools. Analytics software reviews the situation with higher efficiency providing accurate results in less time.
Though the adoption of video surveillance systems has been increasing, they are susceptible to hacking and pose a major threat to data security in multiple ways. The analog video surveillance systems integrated with various software require timely upgrades for better performance. However, if the software is back-dated and lacks updates, the video surveillance becomes prone to hacking, as it becomes easier to breach. This causes loss of crucial information being streamed, making the workstation vulnerable to cyber-attacks. Moreover, modern video surveillance cameras or IP cameras operate over wi-fi, increasing the risk of data losses. The open network of wi-fi connections enables hackers to connect the end-user’s surveillance cameras without being physically on the network. Several customers are therefore limiting the procurement of video surveillance cameras, jeopardizing the global video surveillance market expansion.
|Market Size Value in||US$ 18.3 billion in 2017|
|Market Size Value by||US$ 43.8 billion by 2025.|
|Growth rate||CAGR of 11.8% from 2018-2025|
|No. of Pages||176|
|No. of Tables||37|
|No. of Charts & Figures||70|
|Historical data available||Yes|
|Segments covered||Platforms, Industries, and Service|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The global video surveillance market, by platform, is split into hardware and software. The former led the market in 2017 with the highest revenue share and is expected to continue dominating till 2025. The hardware platform consists of cameras, monitors, and storage devices. It constitutes the most integral component of video surveillance systems as it gathers the imageries and feeds the monitors for human check. Besides, the storage devices hold the data for future analysis and investigation. Hardware systems differ as per the vendors and are sometimes customized according to specific requirements.
The software platform plays a crucial role in video surveillance, facilitating the human inspection to scrutinize all the situations. Software allows live streaming of videos over multiple cameras simultaneously. Alarm management systems equipped with software alert the security in case of a suspicious event or if the camera is being tampered. The video management software comes configured as per exclusive requirements offering various features such as audio and video playbacks, video compression saving bandwidth, and search functions to review the recordings. EyeLine Video Surveillance Software, iSpyConnect, ContaCam, and Xeoma are some of the leading video management software available.
Based on industries, the global video surveillance market is segmented into commercial, residential, industrial, infrastructure, and institutions. The commercial segment occupied the largest market share in 2017 and is likely to continue leading over the forecast period. Video surveillance systems are heavily deployed across commercial sectors in both developed and developing countries. Banks, financial institutions, ATMs, hospitals, shopping malls, retail stores, warehouses, and data centers mandate video surveillance systems. Moreover, the industries incorporate a considerable number of security cameras and keep upgrading the same with latest technologies at timely intervals.
The infrastructure segment follows the commercial in occupying the global video surveillance market. Airports, bus and railway stations, subways, fuel stations, traffic signals, stadiums, parks, and recreational centers require a thorough surveillance. The video surveillance systems provide the authorities with crucial video insights to maintain a high-level security. The government initiative of increased procurement of video surveillance systems to protect civilians and public places from unusual instances is driving the segmental growth.
Geographically, the global video surveillance market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA).
North America encompassed the largest market share in 2017 and is projected to retain its dominance till 2025, growing at a considerable CAGR. The demand for monitoring and video surveillance systems from government entities, defense authorities, and private organizations in North America is increasing. Government standardized the usage of high-tech video surveillance solutions. Also, the continuous innovation of hardware and software in video security solutions increases the interest among the end-users. The trend of technology shift from analog to network-based video surveillance cameras is also prevailing in the region, leading to the large-scale adoption of IP cameras.
Asia Pacific is the most promising and influential market for video surveillance due to huge investments in the development of robust surveillance technology. Governments of China, India, Australia, and Japan are spending huge on the development and procurement of robust video surveillance solutions. Rising industrialization and commercialization across the region, traffic surge due to public and private transport, rising infrastructure, and the presence of various tier 2 and tier 3 companies operating in the video surveillance solutions are the potential elements fueling the market growth.
The global video surveillance market research report provides detailed insights into the market in terms of size, share, trends, and forecasts. It delivers crisp and precise know-how of drivers, restraints, opportunities, segments, and industrial landscape. A list of key market players with their respective developments in recent years has been reserved as a special mention.
The List of Companies
1. Honeywell International Inc.
2. Panasonic Corporation
3. Sony Corporation
4. Pelco (Schneider Electric)
5. Samsung Electronics Co., Ltd.
6. Robert Bosch GmbH
7. IndigoVision Group Plc
8. FLIR Systems Inc.
9. Axis Communications AB
10. Dahua Technologies Co., Ltd.