Gaining on the back of reasons like replacement demand, increased security concerns in the cities during night, the North America security camera market is projected to reach at USD 10 billion in the year 2021, with CAGR of 7.9%.
Security camera is the technique to provide security for workplace and home. Along with, it provides video tapes of any occurrence that may happen.
On the back of reason like, increased crime rates, urbanization and long hours out of home, the global security camera market is anticipated to rise to USD 28 billion in the year 2016 and projected to expand with compound annual growth rate CAGR of 9.2% through 2023. During 2016-2023, IP security cameras is expected to showcase a steep rise due to surge in the installation of IP cameras enabled with HD video.
Market Size and Forecast
Following the same trend, Latin America and Mexico are the major regions or markets for the security camera market. Mexico security cameras market is projected to value at USD 460 million in coming three years.
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Asia-Pacific accounted for 66% of installed security camera in the year 2015 and the region is further forecasted to post 69% of installed security cameras by 2023.
On the basis of application the global security cameras market can be defined into:
- Border security
- City Infrastructure
On the basis of type the global security cameras market is segmented into:
- Outdoor with housing
While studying the global security cameras the market is segmented into:
- Video Surveillance as a Service (VSaaS)
By Camera Resolution
Depending upon the resolution, global security camera market is segregated into:
Based on the features, the global security camera market has been studied and segmented into:
- Fixed Cameras
- Moving Cameras
Further based on the type of technology used, the global security market is classified into:
Growth Drivers and challenges
Increasing penetration of security cameras in the various sectors such as education, healthcare and commercial workplace are the main drivers for the global security camera market.
Increase in terror activities in most of the European cities and criminal activities are promoting the demand of security cameras thus encouraging the growth of global security cameras market in the forecasted years.
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Lack of skilled workforce to manage security cameras, lack of standardized security cameras, not much hindrance from government on manufacturing security cameras and related are few of the major factors which are believed to dampen the growth of global security cameras market in the future.
This report also provides the existing competitive scenario of some of the key players of the global video surveillance security cameras market which includes company profiling of Panasonic Corporation, Samsung Techwin, Arecont Vision Llc, Honeywell International Inc., Bosch Security Systems and Canon Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global video surveillance security cameras market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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