Status : Published | Published On : Jan, 2021 | Report Code : VRSME9021 | Industry : Semiconductor & Electronics | Available Format :
![]() |
Page : 160 |
Industry Overview
The global video surveillance market is estimated to be USD 45.0 billion in 2020 and is predicted to reach USD 76.0 billion by 2027, growing at a CAGR of 10.0% during the forecast period. The factors responsible for the growth of video surveillance across the globe are growing concerns towards public safety and security, increasing adoption of IP cameras, and growing demand for wireless and spy cameras.
Market Segmentation
Insight by Offering
Based on offering, the global video surveillance market is categorized into hardware, software, and services. The software segment is expected to experience the fastest growth in the global video surveillance market during the forecast period. The software segment includes video analytics and video management system.
Insight by End User
On the basis of end user, the video surveillance market is categorized into infrastructure, commercial, military & defense, residential, public facility, and industrial. The infrastructure segment is expected to experience the fastest growth in the global video surveillance market during the forecast period.
Scope of the Report
Report Metric |
Details |
Market Size Available for the Years in the Study |
2015–2027 |
Historical Period |
2019-2020 |
Base Year |
2020 |
Forecast Period |
2021–2027 |
Segments Covered in the Study |
System, Offering, End User, and Region |
Geographies Covered in the Study |
North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.) |
Companies Covered in the Study |
Dahua Technology, Axis Communications, Bosch Security and Safety Systems, Hikvision, Hanwha Techwin, Panasonic i-PRO Sensing Solutions, Pelco, Qognify, Nice Systems, Huawei Technologies, and Honeywell Commercial Security |
Industry Dynamics
Growth Drivers
The primary factors driving the growth of the global video surveillance market are:
Rising government and stakeholder investment for the development smart cities and employing city surveillance solutions, growing demand for VSaaS services, ongoing technological advancements in Big Data, IoT, and cloud-based services, and growing trends of artificial intelligence and deep learning for video surveillance systems are expected to create ample opportunities to players in the global video surveillance market during the forecast period.
Challenges
Violation of privacy and requirement for high-capacity storage systems and higher bandwidth are probably the greatest obstacle confronting video surveillance producers.
Opportunities
Geographic Overview
Geographically, Asia-Pacific is expected to experience the fastest growth in the global video surveillance market during the forecast period. Some of the major factor driving the growth of the APAC market are heavy investments in smart city projects. and growing number of security threats and concerns in countries such as China, Japan, India, and South Korea. Rising awareness of safety and security across different sectors such as commercial, infrastructure, and public places also fuels the growth of the video surveillance market in Asia-Pacific. The growing incidence of theft, terrorist attacks, and other crimes has resulted in an increasing need for video surveillance systems in Asia-Pacific.
Competitive Insight
Hikvision has a leading position in the global video surveillance market. The company is focusing on HP IP that is widely accepted by customers. Hikvision is adapting to the global market at a faster pace and provides a full range of HD IP product lines from entry-level to professional sectors.
Axis offers innovations in the chipset-ARTPEC-7 is powerful security, analytics, and compression. It sees video surveillance as a high-growth industry and provides end-to-end solutions that use Axis camera stations. Axis is sustainable in three areas: responsible business conduct, and environment and social responsibilities.
Key players operating in the global video surveillance market include Dahua Technology, Axis Communications, Bosch Security and Safety Systems, Hikvision, Hanwha Techwin, Panasonic i-PRO Sensing Solutions, Pelco, Qognify, Nice Systems, Huawei Technologies, and Honeywell Commercial Security.
Forecast Parameters
Data Validation
Research Phases
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.
Source: VynZ Research
Source: VynZ Research