Press release
Surveillance Camera Market Forecast to See 8.7% CAGR from 2019 to 2027
Surveillance Camera Market
The video surveillance industry is growing at an impressive pace owing to the evolving security landscape, growing demand for innovative security solutions, and rising integration of advanced technologies such as artificial intelligence in surveillance cameras. The global surveillance camera market is driven by factors such as increase in security concerns and rising infrastructural developments and significant rise in adoption of IP cameras, but Concerns related to data security is anticipated to restrain the market growth during the forecast period. Despite of this, integration of artificial intelligence in surveillance camera is anticipated to boost the surveillance camera market in the forecast period. Asia-Pacific held the largest share of the surveillance camera market in 2018. North America and Europe held the second and third position in the global surveillance camera market in 2018. Other developing regions such as the Middle East, Africa, and South America are also anticipated to offer ample growth opportunities for the surveillance camera market players during the forecast period
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The List of Companies Surveillance Camera Market
Canon Inc.
Dahua Technology Co., Ltd
FLIR Systems, Inc.
Hangzhou Hikvision Digital Technology Co., Ltd.
Hanwha Techwin Co., Ltd.
Honeywell International Inc.
Panasonic Corporation
Pelco Corporate
Robert Bosch GmbH
The Infinova Group
Market Insights
Increase in security concerns and rising infrastructural developments
The adoption of number of surveillance cameras is increasing rapidly in the developed as well as developing economies across the globe owing to the rising need of public safety. With the rise in crime rates, terrorist attacks, antisocial behavior, the government and public safety agencies are significantly investing on new technologies and strategies to ensure public safety and security. It has become essential to improve the system and responses for catastrophic attacks and to identify cost-effective, safe, and feasible solutions. For instance, in July 2019, the Indian government unveiled its plan to install around 3 lakh CCTV cameras around residential and commercial complexes across Delhi for public safety. Further, to improve security for the Chicago public transportation system, the second-largest city in the United States, the government relied on Sentry360 for establishing a unified surveillance system in the city. Further, the increasing infrastructural spending in the emerging economies is expected to create new growth avenues in the surveillance camera market.
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Type Insights
The surveillance camera market by type is segmented by analog cameras and IP cameras. Video surveillance offers effective, powerful, and affordable security protection for both commercial and residential areas. Technological innovations have made video surveillance options customizable and scalable tailored specifically for user purpose. Three main requirements have driven changes in CCTV technology. The first is the need to reduce the cost of recording and to store video for long periods. The second is the need to reduce the amount of space required by these systems. And the third is the need for improved accessibility. The IP cameras segment led the surveillance camera market with the highest market share in 2018, as IP cameras offer overall higher video quality than analog cameras. They provide more video site ranges, such as a narrow or wide field of view, better zoom-in abilities, and because they transmit truly digital signals, they deliver far greater video detail that makes them much better for detecting license plate numbers or facial recognition.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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