Video Surveillance System Market 2020 New Technology Research- Honeywell Security Group, Bosch Security Systems Incorporated, Samsung Group

Video Surveillance System Market - Growth, Trends, and Forecast (2020 - 2025)

The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Video Surveillance System Market on the basis of stating current situation of the industry in 2020.

Market Overview

The global video surveillance system market was valued at USD 52.31billion in 2019, and is expected to reach a value of USD 94.97billion by 2025, recording a CAGR of 10.35% over the forecast period (2020-2025).

The use of video surveillance in business is growing significantly, owing to the increasing need for physical security, coupled with the use of cloud-based services for centralized data.

- Video surveillance is majorly adopted in manufacturing, banking & financial services, and transportation and retail industries. This incorporation is higher in countries, such as the United States, the United Kingdom, China, and Brazil, owing to the large size of the concerned industries and higher awareness among consumers.

- Globally, the drive to enhance the safety and security across different industries is adding to the market growth, significantly. With rapid developments in cloud computing and video surveillance software, the surveillance market has transformed, in comparison to the previous decade.

- VSaaS has been increasing over the recent years, owing to the market penetration of IP camera sales. Significant factors, such as IT cost containment by major IT organizations, the emergence of data centers, and improving functionalities associated with centralized data, are aiding the VSaaS segment.

- The growth of the video surveillance market is expected to be fueled by the introduction of new IP-based digital technologies, to detect and prevent undesirable behaviors, such as shoplifting, thefts, vandalism, and terror attacks.

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Competitive Landscape

The competitive rivalry in the video surveillance market is high due to the presence of many key players constantly upgrading themselves in order to gain a competitive advantage over other players. The video surveillance market is currently dominated by major players like Honeywell Security Group, Bosch Security Systems Incorporated, Samsung Group, Schneider Electric SE, Panasonic Corporation, among others.

- July 2019 - Bosch partnered with DroneShield Ltd, a provider of security and safety solutions. Through this partnership, DroneShield is likely to be offering an integrated system for drone detection and mitigation, with DroneShields products integrated with Boschs video surveillance products.

- January 2019 - Axis launched new vulnerability Notification Email Services, that can be subscribed by customers to identify critical vulnerabilities in Axis surveillance products.

Latest News and Developments:

December 22, 2016: Honeywell announced on Dec. 20, 2016, that it is helping Odisha Police with a city-wide surveillance system that helps boost security, prevent crimes, maintain law and order, and control traffic in the state’s capital city. The quality of the city’s security is exemplified by Bhubaneshwar’s recent win at the World Smart City Awards. The recognition from the Smart City Expo World Congress is a testimony of Bhubaneshwar’s transformation by adopting cutting-edge technology for resolving urban challenges.

04/10/2019: Honeywell has announced a first-of-its-kind technology integration with Intel that will enable new artificial intelligence (AI) capabilities in its MAXPRO connected security platform. The new security platform, which will support MAXPRO Network Video Recorders (NVR) and Video Management Systems (VMS), will incorporate Intel Vision products that enable advanced analytics, deep learning and facial recognition capabilities. These greatly enhanced security solutions will drive cost and time savings by significantly reducing false alarms and will meet compliance requirements such as General Data Protection Regulation (GDPR) through identity anonymization.

Scope of the Report

Video surveillance systems is a group of one or more video cameras on a network that sends the information of the captured video or audio over to a certain place. This information or the captured images are live monitored or sent a central location for storage and recording. This report segments the market based on type, end-user industry, and geography.

Key Market Trends:

Commercial sector is Expected to Hold the Largest Market Share in the Forecast Period

- In recent years, the demand for video surveillance in the commercial segment has increased substantially. The various end-users in this segment include - banking & financial, retail or wholesale, and media & entertainment industries.

- In banks and financial institutions, the increasing number of thefts and fraudulent transactions, in addition to stringent regulatory environment are expected to bolster the deployment of video surveillance systems.

- For instance, BS/2, a Lithuanian banking technology company and VisionLabs announced a strategic partnership for contactless identification that would help the companies to greatly increase security and would ward off the risks associated with the fraudulent or unlawful activities while operating self-service terminals thereby making ATMeye.iQ full-scale self-service video surveillance and fraud prevention system and LUNA face recognition platform the foundation for the introduced services.

- In the retail sector, video surveillance is deployed to prevent shoplifting. They are also used to keep a tab on the shop-floor activities, such as the movements of employees, customers, goods, etc.

- The video surveillance systems can also be used to track consumer behavior at a store regarding a particular segment in a retail store. For instance, in a branch of KFC in Beijing, a computer through camera scans their faces decides on what people will eat by placing orders according to age, gender, and mood.

- Moreover, in the United States increased spending on military and defense on new innovation to manage safety and security, increasing adoption of facial surveillance, increasing government initiatives regarding compulsory installation of video cameras in public places such as liquor shop, supermarket, are the factors that are driving the growth of video surveillance systems across the region.

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The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the report’s an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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