Video Surveillance Market Competitive Landscape Analysis, Growth Factors, Regional Developments and Forecasts to 2031

The growing requirement for Video Surveillance Security as well as the widespread use of cloud-based services for centralised data, it is predicted that demand for video surveillance will rise over time. Infrastructure improvements for smart cities as well as the use of intelligent analytics, smart video management systems, and storage solutions will be the main drivers of this expansion.

Persistence Market Research's new study covers comprehensive insights about the market trends, value (US$ Bn) projections, recent developments, and dynamics in the global video surveillance market for the forecast period of 2031.

The report tracks the global value of video surveillance in 20+ high-growth markets, with the regions of North America, Europe, and Asia offering the most opportunities to stakeholders. The report also analyzes the impact COVID-19 has had on the economy in general, and video surveillance in particular.

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How will Artificial Intelligence Impact Demand for Video Surveillance?

Demand is increasing for AI-based video surveillance due to rise in need for public safety and crime management. AI mechanisms are built using a highly intuitive UI and deep learning algorithms to ensure smart and automated surveillance. Nowadays, AI temperature screening and face recognition are major trends in the video surveillance space.

As AI becomes broadly adopted across various industries, it is expected to be widely incorporated in video surveillance over the coming years. Edge-based AI (that filters and processes data locally on a camera) will be more universal, enabling end-to-end AI technology.

Face recognition, object recognition, event recognition, intelligent image processing, analytics, and remote asset management are some of the key technologies that are transforming video surveillance systems.

Will Adoption of IP/Network-based CCTV Cameras Aid Market Growth?

IP/network cameras are connected devices that capture images in a high resolution and also enable video analytics, automatic alerts, and more. IP cameras offer better resolution and advanced features such as automatic alerts and video analytics, making them the most preferred source for video surveillance across the globe.

Furthermore, IP cameras can be used wirelessly via a Wi-Fi router, or with a wired network connected via Ethernet cable to a broadband router or modem. IP cameras capture images similarly as a digital camera, and compress the files to transmit them over a network.

IP cameras are gaining traction as they are cost-efficient and convenient for end users. Also, network-based CCTV systems provide various benefits to users, such as better work productivity, remote monitoring, traffic management, support in gathering evidence in legal cases, and also protection against theft. As a result, IP cameras are projected to majorly contribute to video surveillance sales in the near future.

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How is Video Surveillance Helping Organizations Ensure Public Safety?

Various public safety agencies are investing significantly in a wide variety of emerging technologies in order to provide efficient safety solutions. These include smart applications that securely link radio networks to users carrying smart-phones, video monitoring devices, and other smart wearable devices, that can be used to enhance accountability and security for civilians and officers, as well as in-built mobile applications to improve daily workflows.

Moreover, with rising anti-social behavior, terrorist attacks, and crime rates, governments have been adopting new strategies and technologies to ensure public security and safety. It has become vital to improve systems, respond to devastating attacks, and find cost-effective, safe, and practical solutions. This further adds momentum to market growth and creates productive opportunities for video surveillance providers.

Also, current CCTV cameras combined with latest video analytics software can be used as sophisticated IoT sensors, with both audio and video data, to help with everything from public safety to traffic management. This rising demand across various verticals is expected to create growth opportunity for manufacturers of video surveillance systems.

Competition Landscape

Persistence Market Research has profiled the following prominent video surveillance providers in its report:

Honeywell International Inc.
Hangzhou Hikvision Digital Technology Co., Ltd.
Bosch Security Systems, Inc.
Dahua Technology Co., Ltd.
FLIR Systems, Inc.
Cisco Systems, Inc.
Samsung Electronics Co. Ltd.
NICE Systems Ltd.
Pelco Inc.
Panasonic i-PRO Sensing Solutions Co., Ltd.
Avigilon Corporation
Axis Communications AB
CP Plus
NEC Corporation
Genetec Inc.

These above-mentioned players rely on various expansion strategies to make their presence felt across lucrative markets. These strategies include collaboration with key players, product launches, acquisitions, partnerships, and enhancement of distribution networks at regional and global levels.

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Key Segments Covered

Component
Hardware
Analog CCTV Cameras
IP CCTV Cameras
Network Video Recorders
Security Monitors & Displays
Others
Video Management Software (VMS)
Cloud-based
On-Premise
Services
Managed Security Services
Professional Services
System Integration & Implementation
Security Consulting
Support & Maintenance

Type
Analog Video Surveillance Systems
IP Video Surveillance Systems

Application
Residential
Commercial
Banks & Financial Institutions
Academic Institutions
Transportation (Airports, Railways, Ports, Traffic Systems)
Corporate/Business Parks & Offices
Retail Complexes & Malls
Healthcare Facilities
Others
Industrial
Energy & Power Plants
Manufacturing Facilities
Others
Government & Defense
Government Offices
Military & Defense Bases
Correctional Facilities
Others

Region
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa (MEA)

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This release was published on openPR.