The global video surveillance market was evaluated at US$ 16.9 billion in 2016 and is projected to hit US$ 43.8 billion by 2025, expanding at a CAGR of 11.8% during 2017-2025.
The increasing security concerns leading to IP cameras adoption and the rising incorporation of artificial intelligence (AI) in video surveillance systems are the potential parameters assisting the global video surveillance market growth. Contrary to this, threats to data security and lack of standardization in third-world countries hinder the market expansion.
Video surveillance and monitoring constitute feeding the real-time videos and imageries captured. Security concerns owing to unusual events lead to the burgeoning demand for advanced surveillance systems worldwide. The systems not only capture and store the images and videos but also serves for further evaluation and investigation. The major advantages of video surveillance comprise gathering sufficient information, remote monitoring, maintaining records, and facilitating decision-making. Several market players are integrating IP cameras with video analytics software to analyze captured imageries automatically.
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The List of Companies
- Honeywell International Inc. (US)
- Panasonic Corporation (Japan)
- Robert Bosch GmbH (Germany)
- Samsung Electronics Co., Ltd. (Korea)
- Sony Corporation (Japan)
- Pelco (Schneider Electric) (US)
- IndigoVision Group Plc (UK)
- FLIR Systems Inc. (US)
- Axis Communication AB (Sweden)
- Dahua Technology Co., Ltd. (China)
Future Trends
Technological Advancement in Hybrid Video Surveillance Service
The most widely used video surveillance service among the end users accounted for hosted service. Currently, the video surveillance market is witnessing a technology shift from analog cameras to IP ones among large enterprises. Various video surveillance system manufacturers and software companies have been developing hybrid video surveillance services, combining the capabilities of analog and IP cameras. Large-scale adoption of hybrid technologies reduces the front-line costs for end users. Enabling the users to connect the cameras with cloud-based services such as google drive, onedrive, and dropbox stands as another major advantage of hybrid services. Thus, the advent of hybrid technology has minimized the problem of data storage. It is anticipated to furnish the future of global video surveillance market.
The video surveillance market is segmented into platforms, industries, service, and geography. On the basis of platforms, the market is segmented into hardware and software. The hardware segment led the market in 2017. On the basis of industries, the market is segmented into commercial, residential, infrastructure, industrial, and institutional. The commercial segment led the market in 2017. On the basis of service, the market is segmented into hosted, managed, and hybrid. The managed segment led the market in 2017. Geographically, the video surveillance market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2017, North America accounted for a significant share in the global video surveillance market.
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