The video surveillance market is expected to be worth USD 68.34 Billion by 2023, growing at a CAGR of 13.1% between 2018 and 2023. The increasing concerns for public safety and security, and growing demand for DIY and IP cameras are the major factors driving the growth of the video surveillance market. The growing government and stakeholder funding and ongoing technological advancements in Big Data, video analytics, IoT, and cloud-based services are likely to create several lucrative opportunities for the players in the video surveillance market.
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The key strategies adopted by major players in the video surveillance market include product launches and developments, acquisitions, partnerships, agreements, collaborations, and expansions. Companies such as Hikvision (China), Dahua (China), Axis Communications (Sweden), Bosch security systems (Germany), and FLIR (US) have adopted these strategies to expand their customer base and enhance their product portfolio.
Hikvision is one of the leading suppliers of video surveillance products and solutions across the world. Founded in 2001 and headquartered in Hangzhou, China, the company has its state-of-the-art manufacturing process for the innovative designs of CCTV and video surveillance products. The company employed around 20,013 people as of December 2016. The company has global presence with regional offices in nearly 20 locations around the world. Hikvision is a publicly listed company on the Shenzhen Stock Exchange.
Dahua is one of the leading providers of security and surveillance products. It specializes in the video surveillance technology, along with designing and manufacturing a full line of innovative CCTV and video surveillance products. It operates through 32 domestic branches in China and other overseas regional branch offices in North America, Europe, Asia Pacific, and Africa.
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Other companies operating in the video surveillance market include Axis Communications (Sweden), Bosch security systems (Germany), Avigilon (Canada), Hanwha Techwin (South Korea), Honeywell security group (US), Infinova (US), Pelco (US), BCD Video (US), CP Plus (India), Nice Systems (Israel), Panasonic (Japan), Tiandy (China), Uniview (China), Vivotek (Taiwan), and Zicom (India).