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Mobile Video Surveillance Market Report 2024 - Mobile Video Surveillance Market Insights, Trends And Demand
Mobile Video Surveillance Market
According to The Business Research Company's, The mobile video surveillance market size has grown strongly in recent years. It will grow from $2.29 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to integration with analytics and ai, security concerns and public safety, urbanization and infrastructure development, law enforcement and military applications, event security and crowd management.
The mobile video surveillance market size is expected to see strong growth in the next few years. It will grow to $3.34 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to demand for cloud-based solutions, cost reduction and scalability, transportation and logistics management, rise in remote working and monitoring, security concerns and threats.. Major trends in the forecast period include integration with iot and edge computing, 5g connectivity and high bandwidth, cloud-based solutions and remote accessibility, mobile app integration and accessibility, hybrid surveillance solutions.
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Market Drivers and Trends:
Rising criminal activities are expected to propel the mobile video surveillance market going forward. Criminal activities refer to an act of crime that is prohibited by criminal law and that consists of the manifestation of physical behavior or mental elements to execute the crime. It is a serious, punishable offence under the law of the state or country. Mobile video surveillance helps to find crime events in public places and also captures live public events, thus, a rise in criminal activities will accelerate the demand for mobile surveillance solutions. For instance, in November 2022, according to the New York Police Department, a US-based municipal law enforcement agency, in the USA, a total of 4,367 arrests were made for complaints of major felonies in October 2022, which was a 16.5% increase in major felonies compared to October 2021. Therefore, the rising criminal activities are driving the mobile video surveillance market.
Technological innovations are a key trend gaining popularity in the mobile video surveillance market. Major companies operating in the mobile video surveillance market are focused on developing new AI multi-directional cameras to strengthen their market position. For instance, in May 2022, Hanwha Techwin, a South Korean-based video surveillance company with the best optical design and manufacturing technology, launched the first artificial intelligence (AI) multi-directional camera, the PNM-C12083RVD. The unique feature is that it provides advanced object detection and user convenience based on artificial intelligence technology. The AI-based features allow for the reduction of false alarms and distinguish human faces, identify particular vehicles, and recognize license plates. It uses AI to reduce image blurriness in low-light environments, resulting in clear pictures.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Hikvision Digital Technology Co. Ltd.; Dahua Technology Co. Ltd.; Axis Communications AB; Bosch Security Systems Inc.; Hanwha Techwin Co. Ltd.; Avigilon Corporation; Teledyne FLIR LLC; Huawei Technologies Co. Ltd.; Seon Design Inc.; Pro-Vigil Inc.; Strongwatch Corporation; Rosco Inc.; BriefCam Ltd.; Uniview Technologies Co. Ltd.; Agent Video Intelligence Ltd.; Aditya Infotech Ltd; Genetec Inc.; Safety Vision LLC; Maryland Security Professionals; Apollo Video Technology; Floatograph Technologies LLC; Maxxess Systems Inc.; Evolv Technologies; DynaColor; Webgate; Motorola Solutions; Tiandy Technologies; Allegion; Dnake; Jovision; Xiamen Leading Optics Co. Ltd.; Ava Group; RFHIC Corporation; Anaren Inc.; Tokyo Denki Kagaku Kogyo Kabushiki Kaisha; KYOCERA AVX Corporation; Johanson Technology Inc.
Mobile Video Surveillance Market 2024 Key Insights:
• The mobile video surveillance market will grow to $3.34 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Surging Criminal Activities Fuel Growth In The Mobile Video Surveillance Market
• Tech Innovations Drive Growth In The Mobile Video Surveillance Market
• North America was the largest region in the mobile video surveillance market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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