The video surveillance market is estimated to grow from USD 36.89 Billion in 2018 to USD 68.34 Billion by 2023, growing at a CAGR of 13.1% between 2018 and 2023. The growth of this market can be attributed to the increasing concerns for public safety and security, rising adoption of IP cameras, and growing demand for DIY and spy cameras.
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The video surveillance market for IP video surveillance systems is expected to grow at a higher CAGR during the forecast period. The market for IP video surveillance systems is expected to grow at a rapid pace in the near future owing to technological advancements in IP cameras as well as in the storage device industry.
In addition, declining prices of IP cameras and IP surveillance systems have contributed to the increasing applicability of these systems in the commercial vertical that include enterprises and data centers, retail stores and malls, and banks and financial buildings.
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Key Target Audience
- Raw material vendors
- Component and hardware providers
- Software providers
- Video surveillance system manufacturers
- Service providers
- System integrators
- Original equipment manufacturers
- Research organizations and consulting companies
- Technology investors
- Associations, alliances, and organizations related to video surveillance
- Analysts and strategic business planners
Video Surveillance-as-a-Service, refers to hosted cloud-based video surveillance. The service typically includes video recording, storage, remote viewing, management alerts, and cyber security.
It is a combination of recording and watching images on monitors or mobile phones through data centers. VSaaS reduces the maintenance and hardware cost, offers remote access to the data at any time, and provides flexibility in adding and managing cameras, which makes it as a prevalent choice among users.
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Asia Pacific is the fastest-growing region in the video surveillance market owing to heavy investments in building new and improve existing infrastructure. The market for video surveillance systems and services in Asia Pacific is likely to continue to grow significantly at a high rate in the near future.
The increase in the terrorist activities is one of the important factors influencing governments to adopt IP surveillance systems for high security and government buildings.
2 Ranking Analysis
3 Product Launches
4 Mergers & Acquisitions
Major players in the video surveillance market are Hikvision (China), Dahua (China), Axis Communications (Sweden), Bosch Security Systems(Germany), FLIR (US), Avigilon (Canada), Hanwha Techwin (South Korea), Honeywell Security Group (US), Infinova (US), Pelco (US), BCD Video (US), CP Plus (India), Nice Systems (Israel), Panasonic (Japan), Tiandy (China), Uniview (China), Vivotek (Taiwan), and Zicom (India).
The report defines, describes, and forecasts the video surveillance market on the basis of system, offering, vertical, and regions. It provides detailed information regarding major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the video surveillance market.
Reasons to Access the Report
- Illustrative segmentation, analysis, and forecast pertaining to the video surveillance market based on system, offering, vertical, and regions have been conducted to provide an overall view of the market.
- Major drivers, restraints, opportunities, and challenges pertaining to the video surveillance market have been detailed in this report.
- A detailed competitive landscape of the key player s(along with their revenues) in the market has been included in this report.
It also analyzes competitive developments such as product launches, collaborations, agreements, contracts, partnerships, acquisitions, and expansions carried out by the key players to achieve growth in the market.
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