Night Vision (IR) Surveillance Cameras Market Expected to Generate Highest Demand from Europe Region

According to a new market report published by TMR entitled “Night Vision (IR) Surveillance cameras Market (By Shape – Box Cameras, Dome Cameras, and Bullet Cameras; By Type – Fixed Cameras and PTZ Cameras; By End-use – Public Sector and Defense, Retail, Transportation, Industrial, Stadiums, Business Organizations and others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024,” the global night vision (IR) surveillance cameras market was valued at US$22.8 Mn in 2015 and is expected to expand at a CAGR of 26.5% from 2016 to 2024, reaching US$175.8 Mn by end of the forecast period.

North America was the largest market for night vision (IR) surveillance cameras in the year 2016, with a market share of around 47.4%. The high adoption of night vision camera capabilities has helped the region successfully resist and fight terrorism and has helped in identifying crucial information and links for terrorist activities in the region. Europe is expected to be the fastest-growing market for night vision (IR) surveillance cameras at a projected CAGR of 29.1% during the forecast period (2016–2024).

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The majority share of the night vision (IR) surveillance cameras market’s revenue in Europe originates from countries such as France, Germany, Denmark, Belgium, and the U.K. This is the result of rising incidents of terror attacks in recent years. The region is experiencing continued growth in overall night vision camera spending due to high disposable incomes. Rising government funding from the U.S. and other nations for the fight against terror groups operating in the region further boosts the demand for night vision cameras in the region.

Asia Pacific is expected to emerge as the fastest-growing region of the global night vision (IR) surveillance cameras in terms of shipment volumes. As a result of leading night vision surveillance camera vendors having their existing headquarters in Asia Pacific (mostly in Japan and China), consumers in the region have better access to advanced night vision camera technology. The rising need to monitor a growing population and rising disposable incomes have contributed to the growth of the overall market. In 2015, Japan, China, and India were the major contributors to the market for night vision surveillance cameras in Asia Pacific.

In 2015, the GCC countries and South Africa were the major contributors to the night vision (IR) surveillance cameras market in MEA. In the coming years, the demand to protect critical infrastructure such as ports of entry, offshore/onshore oil & gas facilities, and critical national boundaries, would rise. Existing government mandates to maintain surveillance standards in the region have resulted in the growth of the overall market for night vision surveillance systems in the region. Upcoming international events being slated to be hosted in this region creates further opportunity for the night vision (IR) cameras market therein.

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In Latin America, Brazil and Mexico collectively contributed a significant portion of the regional market for night vision (IR) surveillance cameras. The growth of the Latin American market is driven by factors such as upcoming infrastructural development plans in the past few years. Moreover, due to the hosting of global events in the region and existing military funding from the U.S., there has been a significant rise in the adoption of these cameras in various end-use sectors in the region.

The global night vision surveillance camera market has been segmented as below:

Global Night Vision (IR) Surveillance Cameras Market, by Shape

Box Cameras
Dome Cameras
Bullet Cameras
Global Night Vision (IR) Surveillance Cameras Market, by Type

Fixed Cameras
PTZ Cameras
Global Night Vision (IR) Surveillance Cameras Market, By End-use

Public Sector and Defence
Retail
Transportation
Industrial
Stadiums
Business Organizations
Others (Hospitality, Education and Residential)
Global Night Vision (IR) Surveillance Cameras Market, By End-use

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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This release was published on openPR.