Video Surveillance Market Global Opportunity Analysis and Industry Forecast, 2020–2027
The global video surveillance market was valued at $42.94 billion in 2019, and is projected to reach $144.85 billion by 2027, registering a CAGR of 14.6% from 2020 to 2027.
Digital video surveillance systems can be used for nearly any environment owing to increase in adoption of advanced surveillance by the government sector, manufacturers have realized the need for optimum IP surveillance systems. There has been an increase in the demand for security applications such as video surveillance to monitor and record borders, ports, transportation infrastructure, corporate houses, educational institutes, public places, buildings, and others.
IP cameras are the newest and most advanced surveillance cameras in the market. Although both analog and IP surveillance cameras serve the same purpose of transmitting signals, IP cameras can use hubs, switches, and routers to have expanded range for surveillance. The network is safe from interference with IP-based cameras. In addition, they have an inbuilt encryption to ensure the security of signals during transmission. IP cameras are enabled with the capability to incorporate three to four cameras in one to cover wide area or range in just one shot. In addition, these cameras provide encrypted videos, which are authenticated to provide seamless and secure transmission of the files.
Rise in need of safety in high-risk areas, surge in transition from analog surveillance to IP cameras, and integration of Internet of Things boost the growth of the global video surveillance market. However, factors such as high investment cost and lack of professional expertise in handling IP cameras, hamper the market growth. Furthermore, increase in trends toward development of smart cities is expected to offer lucrative opportunities for market expansion.
The video surveillance market is segmented into system type, component, application, enterprise type, customer type, and region. By system type, the market is analyzed across analog surveillance, IP surveillance, and hybrid surveillance. By component, it is divided into hardware, software and services. The hardware segment is further sub-segmented into camera, monitor, storage, and accessories. In addition, the software segment is bifurcated into video analytics and video management software. On the basis of application, the market is divided into commercial, military & defense, infrastructure, residential, and others. On the basis of enterprise type, the market is analyzed across small scale enterprise, medium scale enterprise, and large scale enterprise. By customer type, the market is bifurcated B2B and B2C. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the report include HKVISION, Ltd., Bosch Security System, Honeywell Security Group, Dahua Technology, FLIR, Panasonic, Avigilon, Axis Communication, Infinova, and Pelco.
These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaboration, to enhance their market penetration.
KEY BENEFITS FOR STAKEHOLDERS
- This study includes the analytical depiction of the video surveillance market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities in the video surveillance market.
- The video surveillance market growth is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
GLOBAL VIDEO SURVEILLANCE MARKET SEGMENTATION
BY SYSTEM TYPE:
- Analog Surveillance
- IP Surveillance
- Hybrid Surveillance
- Video Analytics
- Video Management Software
- Military & Defense
BY ENTERPRISE SIZE
- Small Scale Enterprise
- Medium Scale Enterprise
- Large Scale Enterprise
BY CUSTOMER TYPE
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East