The video surveillance market is estimated to grow at a CAGR of 11.8% during the forecast period from 2018 to 2025 and estimated to reach US$ 43.8 Bn by 2025.
Video Surveillance is an advanced technology used for monitoring various activities for safety, managing, and providing exact information to the customers when needed. Video surveillance is more than just observing, recording and storing data. This surveillance can be done by using advanced electronic equipment’s such as closed circuit television (CCTV), which are installed in places such as traffic signals, hotels, schools, offices, and many more. With growing crimes across the globe, the need for enhanced protection and surveillance systems is highly important for commercial, residential, industrial, and infrastructure & institutional. Furthermore, the established companies in the industry are researching on development of robust technologies in order to enhance the operation of video surveillance system installed on various places to meet the surging demand for security and surveillance.
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In our study, we have segmented the video surveillance market by platform, industries, services and geography. The two types of platforms considered in this research study includes hardware and software. The hardware platform is further segmented to understand the market for hardware as camera, monitor, storage device and others. The video surveillance systems have wide range of industry applications such as commercial, industrial, infrastructure, residential and institutional. These industries are sub segmented to signify the demand for video surveillance systems in each industry and the revenue generation trend in the current scenario as well as in the coming years till 2025. The various types of services include hosted video surveillance service, managed video surveillance service and hybrid video surveillance service. Geographically, the market for video surveillance is categorized as North America, Europe, Asia Pacific (APC), Middle East and Africa (MEA) and South America (SAM).
The video surveillance market is experiencing a steady growth rate over the years in the current scenario and is anticipated to rise in the coming years. The video surveillance market consists of well-established players and tier 2 as well as tier 3 companies across the globe, which invests huge amounts in research and development to provide the customers with high end technology and meet the demand of the customers. Some of the software companies are also participating in strengthening the video surveillance systems market grip among the end users. The modern IP cameras are now replacing the conventional or analogue cameras, and establishing a new trend of network based video surveillance cameras. The new technologies facilitate the end users by allowing to connect the cameras from a remote location and can fetch data over internet. Hence, the demand for IP cameras are increasing in developed countries as well as developing countries owing to the benefits of the systems, thus, impacting positively on the growth of the market for video surveillance systems in the coming years.
North America video surveillance market is the most matured market across the globe, owing to strict standardization of installation of video surveillance cameras. The governments of the US, Canada and Mexico are compelling different industries to procure video surveillance cameras and systems in order to minimize any sorts of criminal activities. On the other hand, rising criminal activities, terrorist activities and civil unrest actions are leading Asia Pacific region to invest significant amounts in developing and procuring technologically enriched video security cameras and systems. Asia Pacific is estimated to be the fastest growing region worldwide during the forecast period from 2018 to 2025.
The major players operating in the field of video surveillance market includes Honeywell International Inc., Panasonic Corporation, Sony Corporation, Robert Bosch GmbH, Axis Communications, Samsung Electronics Co., Ltd., FLIR System Inc., Pelco (Schneider Electric), IndigoVision Group Plc, and Dahua Technology Co., Ltd. among others. In addition, various other companies are researching on different technologies to improve the surveillance capabilities in order to provide high end security to various industries.
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