Press release
Video Surveillance Systems Market to Hit Sales of US$ 118.16 Billion by 2027, Globally, at a CAGR of 15.20%
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What is the projected market size & growth rate of the video surveillance systems market?
The global video surveillance systems market reached a value of US$ 48.65 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 118.16 Billion by 2027, exhibiting a growth rate (CAGR) of 15.20% during 2022-2027.
Industry Definition and Application:
Video surveillance systems are digitally advanced monitoring systems that capture images and videos, which can be stored, compressed and sent over communication networks. Internet protocol (IP), analog, ANPR/LPR cameras, and hybrid and bullet cameras are commonly used video surveillance systems. They consist of cameras, monitors, transmitters, display units, control systems, and recorders that help monitor operations and prevent theft, vandalism, accidents, and damage to vehicles. They also assist in recording evidence, maintaining records, and improving awareness regarding public safety. Nowadays, surveillance systems are widely installed across various establishments in residential and commercial sectors.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What are the major drivers of the video surveillance systems market?
The market is primarily driven by significant development in the banking, financial services, and insurance (BFSI) industry across the globe. In addition, increasing theft, vandalism, fraudulent transactions, and suspicious withdrawals from automated teller machines (ATMs) represent another major growth-inducing factor. Besides this, various technological advancements, such as the integration of artificial intelligence (AI), deep learning, and the Internet of Things (IoT) that provide advanced analytical functions, such as vehicle, face, and license plate recognition (LPR), are positively influencing the market growth.
Other factors, including the introduction of high-definition (HD) cameras, the rising adoption of video surveillance systems in the defense sector to track and monitor public activities, and the increasing product utilization in retail stores to prevent shoplifting and burglary, are also propelling market growth.
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What segments are covered in the Video Surveillance Systems Market?
IMARC Group provides an analysis of the key trends in each sub-segment of the global video surveillance systems market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on region, system type, component, application, enterprise size and customer type.
Breakup by System Type:
• Analog Surveillance
• IP Surveillance
• Hybrid Surveillance
Breakup by Component:
• Hardware
• Software
• Services
Breakup by Application:
• Commercial
• Military and Defense
• Infrastructure
• Residential
• Others
Breakup by Enterprise Size:
• Small Scale Enterprise
• Medium Scale Enterprise
• Large Scale Enterprise
Breakup by Customer Type:
• B2B
• B2C
Breakup by Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
Who are the key players in video surveillance systems market?
• Axis Communications AB (Canon Inc.)
• Bosch Sicherheitssysteme GmbH (Robert Bosch GmbH)
• Eagle Eye Networks Inc.
• Hangzhou Hikvision Digital Technology Company Limited
• Honeywell International Inc.
• Infinova Corporation
• Panasonic Corporation
• Qognify Inc.
• Samsung Electronics Co. Ltd.
• Schneider Electric SE
• Sony Group Corporation
• Zhejiang Dahua Technology Co. Ltd.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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