Video Surveillance Market Will Soar to US$ 43.8 Bn by 2025, for 11.8% year-on-year growth | Top Key Players – Honeywell, Panasonic, Sony Corporation, Robert Bosch GmbH, Axis Communications, Samsung Electronics, FLIR Systems
In our study, we have segmented the video surveillance market by platform, industries, and services. The platform segment includes hardware and software. The various industries considered in the research study include commercial, industrial, infrastructure, residential and institutional sectors. There are various types of services offered to the end-users by the manufacturers as well as outsourced companies such as hosted video surveillance services, managed video surveillance services and hybrid video surveillance services.
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The growth of the video surveillance market is attributed to the rising adoption of internet protocol (IP) cameras among the end-users in the developed countries as well as developing nations. The major advantage of IP cameras over conventional cameras is the benefit of transferring captured data or imageries directly over the internet, within a fraction of second. The TCP/IP cameras are either centralized, which requires Network Video Recorder (NVR) to monitor recordings, or decentralized in which the camera recording can be stored in any local or remote storing devices. The use of Wi-Fi is also available with the IP cameras for transferring data instantly. In addition, the option for installing various video analytics software in the IP cameras for automatic analysis of the imageries by the cameras is also increasing the interest among the end-users. The other advantages of IP cameras over traditional analog cameras are the high-resolution picture quality, facilitating in understanding and analyzing the situations in a better way, and larger regions can be monitored using a single camera.
In 2017, North America led the market for video surveillance, capturing almost 35.9% of the entire video surveillance market. The major factor boosting the market for video surveillance in North America is the significant investments from the Governments, defense authorities and private organizations from the United States, Canada, and Mexico. Majorly, the investments form US are fueling the market for video surveillance in North America. Moreover, the stringent rules and regulations set by the Governments of the US, Canada, and Mexico in the installation of advanced technology video security cameras are helping the North America region to dominate over the period from 2018 to 2025. The presence of huge numbers of well-established companies and tier 2 companies in the field of video surveillance systems is increasing the adoption rate of video surveillance cameras. In addition, software companies are also developing robust software for the enhancement of surveillance cameras capabilities. The fastest-growing region in the global video surveillance market is anticipated to be the Asia Pacific, owing to rising security concerns due to the increase in crime rates, civil unrest activities and terrorist misconducts. These factors have urged the Governments and private organizations in the Asia Pacific region to procure large numbers of video surveillance cameras and solutions to enhance security issues in the region.
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The market for video surveillance consists of well-recognized organizations as well as emerging companies namely;
1. Honeywell International Inc.
2. Panasonic Corporation
3. Sony Corporation
4. Pelco (Schneider Electric)
5. Samsung Electronics Co., Ltd.
6. Robert Bosch GmbH
7. IndigoVision Group Plc
8. FLIR Systems Inc.
9. Axis Communications AB
10. Dahua Technologies Co., Ltd.
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