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Mobile Video Surveillance Market share forecast to witness considerable growth from 2017 to 2024

01-23-2018 12:18 PM CET | Media & Telecommunications

Press release from: Global Market Insights Inc.

Mobile Video Surveillance Market share forecast to witness

Mobile Video Surveillance Market size is anticipated to witness high growth during the forecast timeline. This growth is attributed to the concerns associated with safety & security across various industry verticals coupled with the increasing demand for real-time surveillance. Rising number of criminal activities such as robbery, murder, theft and burglary across various regions is compelling the adoption of such systems. The emphasis of regulatory authorities to ensure the safety of citizens and prevention of crime using the equipment further contributes to the mobile video surveillance market growth.

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Growing demand for increasing vehicular safety and the deployment of comprehensive surveillance solutions provides significant opportunities to the mobile video surveillance market. Advantages of deploying such equipment include continuous monitoring, reduces the unauthorized use of the vehicles, control fuel costs by abolishing unapproved journeys and enhance the overall vehicle security. In order to reduce losses, various organizations are increasingly focusing on integrating such advanced mobile technologies and systems. The surge in transition from analog to IP based surveillance solutions is proving impetus to the industry growth.

Factors such as high initial cost and privacy issues related to the usage of data provided by these systems are anticipated to restrain the mobile video surveillance market growth. Camera prices range from hundreds to thousands of dollars depending on the features and monitoring systems. High initial cost, which includes the installation and maintenance of such systems, could be a barrier to mass adoption. These systems are often vulnerable to threats from hackers, which poses a challenge to the market growth.

The mobile video surveillance market is segmented on the basis of component, application and region. Based on component, the industry is classified into hardware, software and service. Hardware components are further classified into mobile recorders, cameras and storage recorders and other devices. Increasing penetration of mobile recorders can be attributed to the advantages offered such as clear & high-quality videos resulting in optimized network performance. Factors such as declining cost, easy availability and affordability of the hardware components lies significant opportunities for the mobile video surveillance market growth. Increasing terror attacks and crime rates worldwide is compelling the authorities to adopt such surveillance solutions, further contributing to the industry demand.

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Based on applications, mobile video surveillance market is classified into law enforcement, industrial, military & defense and transportation. Concerns associated with safety & security in public transportation systems led to the increasing deployment of such systems in transport vehicles, trains & trams and buses. Surge in demand for improvement in infrastructure across the industry verticals gives rise to the deployment of scalable and advanced surveillance systems. Moreover, law enforcement applications are anticipated to witness significant growth over the forecast timeline. It can be credited to the rising adoption of such systems by law enforcement institutions to reduce the ever-increasing crime rates due to the advantages such as enhanced performance, reliability and streamlining several operations.

North America mobile video surveillance market is predicted to grow significantly during the forecast timespan. This growth can be attributed to the presence of large number of industry players in the region coupled with the increasing penetration of such systems across various applications. Rising instances of illegal activities obligated regional authorities to deploy intelligent surveillance solutions for reducing criminal activities and increase safety & security for citizens. Moreover, the increasing infrastructure investments in emerging economies such as China and India provide huge growth opportunities for the Asia Pacific mobile video surveillance market.

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Companies operating in the mobile video surveillance market include Axis Communications, Bosch Security Systems, Cisco Systems Inc., Honeywell International Inc., Avigilon, Advantech, Tyco International, Hanwha Techwin, Infinova and United Technologies. Other prominent industry players include Apollo Video Technology, Safety Vision LLC, Eagle Eye Networks, Pelco, Hikvision and Costar Video Systems. The players are increasingly focusing on incorporating innovating features in existing product portfolio to provide flexible surveillance solutions based on the end-user demands.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.
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