Video Surveillance Market Global Trends, Size, Segments and Growth till 2027

 Market Overview

The mobile video surveillance market value is anticipated to reach up to USD 80 billion over the forecast period (2020-2023), with a CAGR of about 18.73%.

Primary Drivers and Key Barriers

A video surveillance system helps capture images and videos in almost any environment. Security and surveillance are considered to be an important aspect of all organizations all over the world. Enterprises, governments, healthcare organizations and financial institutions alike are all in need of a certain degree of security and monitoring measures, which calls for the installation of video surveillance systems. As a consequence, the demand for security applications like video surveillance to monitor ports, borders, corporate houses, transportation infrastructure, public places, educational institutes, buildings, and others has risen remarkably over the years.

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Given the surge in the adoption rate of advanced surveillance in the government sector, manufacturers are gradually realizing the need for effective IP surveillance systems. An IP camera CCTV system offers a host of benefits, especially compared to an analog format. IP security cameras facilitate the transfer of a greater amount of information compared to the analog signal that is sent to a DVR, which is touted to be a major market trend. Network cameras are generally used in big food chains, departmental stores, factories, malls, workshop and various other public places to track all the ongoing activities, thereby inducing growth of the video surveillance market across the globe.

Segmentation

The worldwide Video Surveillance Technology Market has been segmented with regard to component and applications.

The component has been sub-divided into software, hardware, and services. The hardware-wise segments mentioned in the report are monitors, storage systems, and cameras. Hardware leads the market, having touched a valuation of USD 15 billion in 2016. The segment can attain a growth rate of 17% during the forecast period, while software is expected to be the fastest-growing segment at the rate of 21% from 2017 to 2023.

Considering the applications segment, the global video surveillance market includes commercial, infrastructure, defense, residential and institutional. The market is led by infrastructure application, whereas the residential sector is anticipated to obtain a CAGR of 21% during the conjectured timeframe.

Regional Analysis

Europe, North America, the Middle East, and Africa (MEA) and Asia Pacific (APAC) are the main markets for video surveillance.

The report highlights North America as the leading market for video surveillance, given the region’s frequent technological advancements and highly developed network architecture. Surging adoption rate of surveillance equipment in the region has led the region to the top position in the global market. High spending on military and defense leads to a rising number of research and development (R&D) activities, giving rise to new innovations.

Europe has landed the second spot in the global video surveillance market. Improving network infrastructure coupled with mounting adoption of cloud-based services across industries is inducing market growth in the region. The rising number of crime rates, terrorist attacks, and antisocial behavior is prompting the government to come up with the latest technologies as well as strategies to ensure safety and security of the public.

Key Players

Some of the key players in the market are Zhejiang Dahua Technology Co., Ltd. (China), Axis Communications AB (Sweden), Bosch Security Systems Inc. (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), FLIR Systems Inc. (U.S.), Honeywell Security Group (U.S.), Avigilon Corporation (Canada), Pelco (U.S.), Panasonic System Networks Co., Ltd. (Japan), Hanwha Techwin Co., Ltd. (South Korea) and NICE System Ltd. (Israel).

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Intended Audience

  • Technology Investors
  • Research/Consultancy Firms
  • Cloud Service Providers
  • Security Service Providers
  • Managed Service Providers
  • Cloud Storage Providers
  • Infrastructure Providers

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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