Video Surveillance Market Share, Size, Trend, Demand, Analysis by Top Leading Player and Forecast Till 2028
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List of Key Players Covered video surveillance market Report
• Avigilon Corporation
• Bosch GmbH
• Dahua Technology Co., Ltd.
• Axis Communications AB
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Honeywell International, Inc.
• Huawei Technologies Co., Ltd.
• Panasonic Corporation
• FLIR Systems, Inc.
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Key Advantages of video surveillance market Report:
• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the video surveillance market industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter's Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Video Surveillance Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
This Report Answers the Following Questions:
What are the video surveillance market trends, growth drivers, and hindrances?
How will the market be impacted in the future?
What are the opportunities and challenges that the market may come across in the coming years?
Which region is likely to lead the market by generating maximum revenue?
Which strategies are being adopted by key players to augment sales?
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Increasing Smart City Initiatives to Skyrocket Demand
The rising adoption of artificial intelligence (AI) worldwide is one of the major video surveillance market growth drivers. The Carnegie Endowment for the International Peace Organization published a paper in 2019 which states that out of the total 176 countries, 75 of them are using AI for surveillance purposes, such as smart citing, facial recognition systems, and more. It proves that the rising development of facial recognition applications and smart city initiatives by several regions would contribute to the market growth.
Industry Segment to Grow Significantly Owing to Security Issues in Manufacturing Sector
Based on end user, the market is segregated into government, residential, industrial, and commercial. Out of these, the industrial segment held 21.4% video surveillance market share in 2018. This sector consists of the automobile industry, manufacturing & construction industry, and others. The manufacturing industry is mainly susceptible to a broad range of security issues, namely, theft of raw materials, such as steel, copper wires, and optical fibres, as well as expensive machines. Vandalism is also a major threat. Hence, video surveillance systems are required to conduct organized surveillance throughout the plant.
Asia Pacific to Remain at the Forefront Stoked by High Government Initiatives in China
Geographically, the market is divided into Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. Amongst these, Asia Pacific held USD 10.58 billion in terms of video surveillance market revenue in 2018. The region is anticipated to lead in the forthcoming period. This growth is attributable to the participation of China. The Chinese government is taking various initiatives to promote the utilization of such surveillance equipment. For instance, in 2017, it announced the completion of the 'Skynet' video surveillance program. It further helped in creating one of the largest surveillance networks worldwide. North America is set to grow significantly backed by the increasing adoption of these systems in many countries.
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Key Players Focus on Launching State-of-the-art Equipment to Intensify Competition Prominent companies operating in the market are mainly engaging in the strategy of innovative product launches to fulfil the demand of their growing consumer bases. They are also persistently striving to gain new orders from industry giants, as well as tourist spots to deliver their in-house systems. Below are a couple of key industry developments:
July 2019: Honeywell unveiled its latest 30 Series IP cameras. It is a new range of video cameras that are capable of strengthening safety and security of buildings through secure channel encryption and advanced analytics.
May 2018: Division USA Inc. delivered its high-resolution, innovative IP security system to modernize the security of a national historic landmark in Wilmington called the Battleship North Carolina.
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