February, 22nd - 5 years ago
The report "GLOBAL VIDEO SURVEILLANCE MARKET”: Segmentation - By Type (Hardware, Software, Services); By Application (Remote & Mobile Monitoring, Facility Protection, Parking Lots And Others); By System (Analog, Ip, Biometrics); By End-User (Commercial, Institutional, Defence And Others) & By Geography (Asia Pacific, North America, Europe, Middle East & Africa, South America), By Company Profile, Forecast (USD Billion) And Estimation 2018-2024. The Global video surveillance market size is expected to reach $75.66 Billion by 2024 at a CAGR of 15.4%. Video surveillance refers to the process of image acquisition storage and scrutinizing the related data into by advanced algorithms and to extract useful information. Hardware segment is estimated to dominate the video surveillance market over 2018-2024 Based on the type the video surveillance market is segmented into hardware, software, and services. Based on the video surveillance market forecast, hardware segment has the largest share as it includes cameras, monitors, and storage solutions and some others. Video surveillance market trends include utilization of vizsafe platform services, advanced 360-degree camera technology, and enhanced camera capabilities.Hardware products for video surveillance are affordable and moreover, increasing crime rates, growing safety and security concerns and increasing terror attacks are the key drivers boosting the video surveillance market growth in Hardware segment. Download a free sample report at https://www.envisioninteligence.com/industry-report/video-surveillance-market/ IP segment lead the video surveillance market share during the forecast period Based on the system, video surveillance market is segmented into IP, biometrics, and analog. As per the video surveillance market research, IP segment is estimated to grow at a CAGR of around 25% owing to the increasing demand for surveillance cameras. The total cost of operation of IP cameras is much lower than along cameras and are scalable, flexible, can be easily installed when compared to analog. Additionally, IP cameras have encoders that help in image encryption and provide multi-level user access control which an avoid third-party manipulation. Commercial segment is projected to propel the video surveillance market size & growth The end-user segment includes industrial, infrastructure, commercial, defense, residential and others. Commercial in an end-user segment led the video surveillance market size 2016 and projected to grow during the forecasting period. The need for the security and safety of franchise stores, retailers and malls have resulted in usage of video surveillance to monitor inventory and property and reduce criminal activities. Augmenting demand for security systems from the large and small retail business to reduce inventory and robbery loss. By region, global video surveillance market has been segmented into North America, Asia-Pacific, the Middle East and Africa, and Europe. APAC accounted the largest share due to the adoption of advanced technologies and Increasing economic development, urbanization. Presence of big video surveillance market leaders and reduced cost of IP cameras are projected to drive the video surveillance market growth in this region. North America takes second largest market growth.The presence of highly developed network infrastructure that ensures seamless connectivity between video surveillance components is the key growth driver for the market in this region The dominant video surveillance market leaders include Bosch Security Systems Inc. (U.S.), Axis Communications AB (Sweden), Zhejiang Dahua Technology Co., Ltd. (China), FLIR Systems Inc. (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Honeywell Security Group (U.S.), Panasonic System Networks Co., Ltd. (Japan), Avigilon Corporation (Canada), Pelco by Schneider Electric (U.S.) and some others.