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Video Surveillance Market 2023: Comprehensive Research Study
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The growing technical advancement in public and private infrastructure has propelled the demand for connected safety and solutions especially in public places. It is gaining demand in wearable technology and body-worn video surveillance applications. For instance, the body-worn camera solution are widely used among the people which offers safety management solution to gather video evidence. It is integrated with existing applications, business workflows and environments and offers rich video experiences. The companies are investing in manufacturing the video surveillance integrated with 4K technology due to its cost effective surveillance solution among various sectors including retail, transportation, financial and commercial industries. The real-time analysis of video streams and recorded footage becomes the vital evidence to any kind of threats. In 2016, Panasonic Corporation unveils its video surveillance solutions including fixed security, mobile and body-worn cameras to optimize public safety.
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With the technological advancement of 3D virtualization, the video surveillance with motion sensors, camcorders, access controls, fire detectors, alarms and others, has become integral part of public safety. It allows the companies to manage and respond towards an incident quickly, and reduces the risk of errors and false alarm. In 2015, Zetron, had announced a new, advanced video surveillance and security solution which is best suited for both private and public-safety applications. It allows the video recording to be digitally watermarked and stored for evidentiary purposes. It is basically offering solution to customers who oversee and protect schools, government buildings, warehouses, parking lots, and other sensitive facilities. Hence, the video surveillance is gaining demand to meet the rising security demand for public safety.
The market for global digital assistant is segmented on the basis of component and applications. The component is sub-categorized into hardware, software and services. On basis of hardware component the market is further classified into cameras, monitors and storage systems. By applications, the global Video Surveillance Market is sub-segmented into infrastructure, commercial, institutional, Defense, and residential.
The Global Video Surveillance market has generated USD 28.52 billion market in 2016 and is projected to grow with 18.73% CAGR during forecast period 2017-2023
- By component, hardware is dominating the market and has generated USD 15 billion revenue in 2016 and is expected to grow with 17% CAGR. Whereas, software is projected to drive the market in coming years growing with highest 21% CAGR
- By application, the market has dominated by Infrastructure whereas, residential sector is estimated to grow with highest 21% CAGR
- By Region, North America is leading the market followed by Europe. Whereas, Asia-Pacific is projected to be the fastest growing region in the coming years.
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).
The market for the global video surveillance market is led by North America due to technical advancements in the region, and increasing awareness regarding safety and security. Asia Pacific is considered to be the fastest growing region due to improvement in network infrastructure and increasing adoption of cloud based services by industries which there by expected to fuel the market growth in the region.
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- Technology Investors
- Research/Consultancy Firms
- Cloud Service Providers
- Security Service Providers
- Managed Service Providers
- Cloud Storage Providers
- Infrastructure Providers
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 MARKET DYNAMICS
2.1 Market Growth Factors 11
2.1.1 Advancement In IP-Based Technology 11
2.1.2 Increasing Demand Of Cloud Based Video Surveillance 12
2.1.3 The Rising Demands Of Public Safety 13
2.1.4 Emerging Smart City Projects 13
2.2 Market Restraints 14
2.2.1 Lack Of Huge Network Bandwidth For Video Streaming 14
2.2.2 Privacy Issues 15
2.2.3 High Cost Of Installation Of Video Surveillance Systems 15
2.3 Video Surveillance Market Value Chain 16
2.4 Porter’s Five Forces Analysis 17
3 GLOBAL VIDEO SURVEILLANCE MARKET, BY COMPONENT
3.1 Introduction 18
3.2 Sub-Segment 19
3.2.1 Hardware 19
18.104.22.168 Cameras 19
22.214.171.124 Monitors 20
126.96.36.199 Storage Systems 20
3.2.2 Software 20
3.2.3 Services 20
4 GLOBAL VIDEO SURVEILLANCE MARKET, BY APPLICATION
4.1 Introduction 21
4.2 Sub-Segment 22
4.2.1 Infrastructure 22
4.2.2 Commercial 22
4.2.3 Institutional 22
4.2.4 Defense 23
4.2.5 Residential 23
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