Trends, opportunities and forecast in video surveillance market to 2023 by system (analog, IP, and others), product and services (hardware, software, and service), by end use industry (commercial, residential, transportation, government, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)
According to a new market report published by Lucintel, the future of the global video surveillance market looks promising with opportunities in the commercial, government, transportation, and residential sector. The global video surveillance market is expected to reach an estimated $39.3 billion by 2023 and it is forecast to grow at a CAGR of 9.3% from 2018 to 2023.
The major growth drivers for this market are increasing awareness for safety and security, increasing crime rate, and growing adaptation of internet protocol (IP) cameras.
In this market, analog, IP, and biometric system based video surveillance systems types are used for safety and security in the various end use industries.
Lucintel forecasts that IP surveillance system is expected to remain the largest system type, and is also expected to witness highest growth due to growing development of smart city and smart home applications. Additionally, technological innovations, real-time access, integration of wireless technologies, video analytics, and affordability are the factors driving the growth of the IP camera market.
Browse 88 market data Tables and 103 Figures spread through 195 Pages and in-depth TOC on "Video Surveillance Market" www.lucintel.com/video-surveillanc…t-2018-2023.aspx
Within the video surveillance market, the commercial segment is expected to remain the largest end use market, and witness the highest growth over the forecast period due to increasing demand in hotels, banks, and retail enterprises. Expansion of financial institution coupled with increasing need for building security and monitoring customer and staff activities further spurred the growth for video surveillance.
Asia Pacific is expected to remain the largest market, and is also expected to witness the highest growth over the forecast period due to the increasing number of hotels, banking & financial institutions along with small and medium enterprise growth in China, India and other emerging nations.
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Emerging trends, which have a direct impact on the dynamics of the industry, include advanced 360-degree camera technology, utilization of Vizsafe platform services, and enhanced camera capabilities for Video Management Systems. Hangzhou Hikvision Digital Technology Co., Ltd., Zhejiang Dahua Technology Co., Ltd, Bosch Security Systems, Honeywell International Inc., and Axis Communication among others are the major video surveillance providers.
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The study includes a forecast for the global video surveillance market by product and services, system, end use industry, and region as follows:
By System Type [$M shipment analysis from 2012 to 2023]:
By Product and Services Type [$M shipment analysis from 2012 to 2023]:
- - Camera
- - Storage
- - Encoder
- - Others
By End Use Industry [$M shipment analysis from 2012 to 2023]:
- - Hotel
- - Banking & Finance
- - Retail
- - Others
By Region [$M shipment analysis for 2012 – 2023]:
- North America
- - United States
- - Canada
- - Mexico
- - United Kingdom
- - Germany
- - France
- Asia Pacific
- - Japan
- - China
- - South Korea
- - India
- The Rest of the World
Inquiry report @ www.lucintel.com/pq/video-surveill…t-2018-2023.aspx
This 195-page research report will enable you to make confident business decisions in this globally competitive marketplace.
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