Surveillance Camera Market Estimated To Expand At A Robust CAGR Over 2021-2027

The surveillance camera market was valued at US$ 21.82 billion in 2018 and is projected to reach US$ 45.93 billion by 2027; it is expected to grow at a CAGR of 8.7% during 2019-2027.

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. Several developing economies across the globe are witnessing high growth in their commercial construction and infrastructural sector. This has resulted in construction of more airports, railway stations, educational institutions, hospitals as well as public projects. This in turn has led to increase adoption of security cameras to monitor and record the behavior and activities of people and thereby protect public places and critical infrastructure.

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Type Insights
The surveillance camera market by type is segmented by analog cameras and IP cameras. The Internet Protocol cameras (IP cameras) are the type of digital video cameras which receive control data and send image data through the Internet. These cameras are widely utilized for surveillance, but unlike analog CCTV cameras, they don't require local recording devices; they only require local area networks. Most of the IP cameras are webcams, but the term IP camera or netcam generally relates only to those that have the capability to get accessed through a network connection directly. Some IP cameras need the support of a central NVR for handling the recording, alarm, and video management, while others are capable of working in a decentralized manner with no NVR required, as the cameras are able to record directly to any remote or local storage media.

An Overview of the Impact of COVID-19 on this Market:
Due to the pandemic, we have included a special section on the Impact of COVID 19 on the Surveillance Camera Market which would mention How the Covid-19 is Affecting the Surveillance Camera Industry, Market Trends and Potential Opportunities in the COVID-19 Landscape, Covid-19 Impact on Key Regions and Proposal for Surveillance Camera Players to fight Covid-19 Impact.

The Emerging Players in the Surveillance Camera Market includes 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, etc.

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The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2020-2027? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Surveillance Camera market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Surveillance Camera market?
4. What are the prominent market trends influencing the development of the Surveillance Camera market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Surveillance Camera market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Surveillance Camera market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Surveillance Camera market segments and regions.

Surveillance Camera Market: Regional analysis includes:
• Asia-Pacific Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
• North America (The United States, Mexico, and Canada.)
• South America (Brazil etc.)
• The Middle East and Africa (GCC Countries and Egypt.)

This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Surveillance Camera market.

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