Chicago, June 06, 2023 (GLOBE NEWSWIRE) -- According to a research report Germany Video Surveillance Market by Offering (Hardware (Camera, Storage Device, Monitor), Software (Video Analytics, VMS), Service (VSaaS)), System (IP, Analog, Hybrid), Vertical and Geography (North America, Europe, APAC, RoW) - Global Forecast to 2027", published by MarketsandMarkets, Germany Video Surveillance Industry to Grow at a CAGR 6.6% from 2022 to 2027.
Growing adoption across retail, banking, and healthcare sectors driving market growth
Germany's significant contribution to the global video surveillance industry is reflected in its size, which is expected to continue growing due to the country's recent deployment of video surveillance cameras in the healthcare, retail, and banking sectors. This development has increased the penetration of video surveillance systems in banks, hospitals, shopping malls, and other places. Also, looking at the increased deployment of video surveillance cameras in these sectors, various startups have been established in Germany for video surveillance technology, including Helsing, RYD, Mobius Labs, and Kiwi.
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According to MnM, wireless surveillance systems are becoming increasingly popular in the region, which is driving the growth of the market for video surveillance. To comply with the legal requirements of the GDPR and the German Federal Data Protection Act (BDSG), video surveillance companies in Germany must seek guidance from the German Data Protection Conference (DSK) when deploying surveillance systems in non-public areas.
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The transportation sector in Germany is also a significant contributor to the market size of the global video surveillance market, with a high demand for video surveillance solutions in public infrastructure such as railways, buses, and airports. The outlook for the video surveillance market in the region is further bolstered by the increasing deployment of smart transport infrastructure, such as Federal Transport Infrastructure plan (FTIP) which has value of USD 294 billion and expected to be completed in 2030.
This development is expected to create new opportunities for video surveillance providers due to the demand for solutions such as electronic toll collection and license plate recognition. Moreover, the German government's recommendation to increase security measures on private companies and public facility owners' premises is expected to drive the growth of the market for video analytics in the country. Thus, Germany's contribution to the global video surveillance market is significant, and the market outlook in the region is positive, with a growing market size, increasing demand, and expanding opportunities for video surveillance companies.
Top Key Market Players in Video Surveillance companies
- Hikvision (China),
- Dahua Technology (China),
- Axis Communications (Sweden),
- Bosch Security and Safety Systems (Germany),
- Hanwha Techwin (South Korea),
- Avigilon (Canada),
- Teledyne FLIR (US),
- Honeywell International; (US),
- Panasonic i-PRO Sensing Solutions (Japan),
- Pelco (US), Uniview (China).among others
See Also :
Japan Video Surveillance Market
France Video Surveillance Market
UK Video Surveillance Market
South Korea Video Surveillance Market
China Video Surveillance Market
