| Status : Published | Published On : Jan, 2021 | Report Code : VRSME9021 | Industry : Semiconductor & Electronics | Available Format :
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Page : 160 |
Global Video Surveillance Market - Analysis and Forecast (2022-2030)
Industry Insights by System (Analog Video Surveillance System, and IP Video Surveillance System), by Offering (Hardware, Software, and Services), by End User (Infrastructure, Commercial, Military & Defense, Residential, Public Facility, and Industrial)
Industry Overview
The market for video surveillance is expected to reach $78.45 billion by 2030, rising at a CAGR of 10.6% during the forecast period, from $43.7 billion in 2021. The global public safety and security concerns, the rising interest in wireless and spy cameras, and the increasing use of IP cameras are the main drivers of the expansion of video surveillance.
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Market Segmentation
Insight by Offering
The worldwide video surveillance market is separated, based on offering, into hardware, software, and services. Among these, throughout the forecast period, the software category is expected to develop at the quickest rate in the market. Video analytics and a video management system are included in this category.
Insight by End User
The video surveillance market is divided into infrastructure, military & defense, commercial, residential, industrial, and public facilities, based on the end user. During the forecast period, the infrastructure category is projected to witness the highest growth rate, among all end users.
Video Surveillance Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018–2021 |
|
Base Year Considered |
2021 |
|
Forecast Period |
2022 - 2030 |
|
Market Size in 2021 |
$43.7 Billion |
|
Revenue Forecast in 2030 |
$78.45 Billion |
|
Growth Rate |
CAGR 10.6% |
|
Segments Covered in the Report |
By System, By Offering, By End User |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Covid-19, Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and the Rest of the World |
Industry Dynamics
Growth Drivers
The surging use of IP cameras, the rising demand for wireless and spy cameras, and the growing public security and safety concerns are the main factors propelling the growth of the worldwide video surveillance market.
Moreover, the surging demand for VSaaS services, rising trends of artificial intelligence and deep learning for video surveillance systems, and ongoing technological advancements in Big Data, IoT, and cloud-based services are expected to provide players in the global video surveillance market with a number of lucrative opportunities over the course of the forecast period.
Challenges
Privacy violations and the need for large storage systems and increased bandwidth are likely the biggest challenges faced by manufacturers of video surveillance systems.
Opportunities
The market offers several opportunities to players, due to the following reasons:
• Ongoing technical developments in big data, the internet of things, and cloud computing
• Increasing government and stakeholder funding for the creation of smart cities and the use of solutions for city surveillance
• Surging interest in VSaaS services
Geographic Overview
Geographically, the global video surveillance market is projected to develop at the quickest rate during the forecast period in the APAC region. The APAC market is expanding as a result of significant expenditures on smart city projects and surging risks to international security, particularly in nations like Japan, China, India, and South Korea. Moreover, the regional market is expanding as a result of growing awareness of safety and security in a variety of industries, including infrastructure, business, and public spaces; and the rising need for video surveillance systems due to an increase in theft, terrorist attacks, and other crimes.
Competitive Insight
In the international market for video surveillance, Hikvision is a market leader. The business is concentrating on HP IP, which is well-liked by clients. Hikvision offers a broad variety of HD IP product lines from entry-level to professional sectors and is quickly adjusting to the worldwide market.
Moreover, the ARTPEC-7 chipset from Axis delivers improvements in the areas of analytics, security, and compression. It offers end-to-end solutions using Axis camera stations because it believes that the video surveillance market is one that is growing quickly. Axis is sustainable in three ways: environmental protection, ethical corporate practices, and social obligations.
Some of the key players operating in the global video surveillance market are Hikvision, Axis Communications, Dahua Technology, Bosch Security and Safety Systems, Hanwha Techwin, Pelco, Panasonic i-PRO Sensing Solutions, Qognify, Huawei Technologies, Nice Systems, and Honeywell Commercial Security.
Recent Development by Key Players
The next generation of AXIS M11 Box Cameras, featuring excellent image quality even in low light circumstances, was introduced in June 2022 by Axis Communications (Sweden). AXIS M1135 Mk II and AXIS M1137 Mk II, the indoor variants, provided 2 MP and 5 MP resolution, respectively. The two outdoor-ready variants, AXIS M1135-E Mk II and AXIS M1137-E Mk II were protected against water, corrosion, dust, and impacts by IP66-, IK10-, and NEMA 4X-rated casings.
Hikvision (China) introduced its new TandemVu PTZ camera line in February 2022, combining PTZ and bullet camera capabilities into a single device. TandemVu PTZ cameras may simultaneously focus on both "viewpoints," monitor wide areas, and enlarge specific security situations.
Bosch Security & Safety Systems (Germany) announced the release of its new MIC IP Fusion 9000i 9-mm cameras in February 2022. These cameras offer the highest level of situational awareness for perimeter detection applications. Prepositions were reduced by its larger thermal field of vision, allowing it to easily provide 360° coverage.
Forecast Parameters
- Identifying variables and establishing market impact.
- Establishing market trends regionally.
- Analyzing opportunities and market penetration rates by understanding product commercialization and regional expansion.
- Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
- Analyzing sustainability strategies adhered to by market participants in an attempt to determine the future course of the market.
- Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trends.
- Understanding adoption, development, distribution, and regulatory framework.
Data Validation
- Estimated and forecasted data was validated by industry experts.
- Apart from industry experts, data triangulation methods were used for validation.
- The bottom-up and top-down approach has been used for estimation and forecast of market data, whereas the top-down approach was used for validation.
- Demand, as well as supply side surveys, were conducted in order to understand the industry dynamics and data validation.
Research Phases
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Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and have key opinions from industry experts. The key profiles approached within the industry include the 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.
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Source: VynZ Research
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Source: VynZ Research
The Video Surveillance Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2022–2030.
Segments Covered in the Report
- By System
- Analog video surveillance system
- IP video surveillance system
- By Offering
- Hardware
- Software
- Services
- By End User
- Infrastructure
- Commercial
- Military & Defense
- Residential
- Public Facility
- Industrial
Region covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- Other Countries
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Video Surveillance Market