New York, USA, June 26, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Video Surveillance Market Information By Component, By Deployment, By Application and Region - Forecast till 2030”, Video Surveillance Market could thrive at a rate of 11.6% between 2022 and 2030. The market size will be reaching around USD 110.2 billion by the end of the year 2030.
Video Surveillance Market Key Players
Prominent industry players profiled in the global mobile video surveillance market report include
- Apollo Video Technology (U.S.)
- Mid State Instruments (U.S.)
- Seon (Canada)
- Floatograph Technologies
- Maxxess Systems, LLC. (U.S.)
- Strongwatch Corporation (U.S.)
- Rosco Vision Systems (U.S.)
- Safety Vision
- Maryland Security Professionals (U.S.)
- Briefcam (Israel)
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Report Scope:
| Report Metric | Details |
| Revenue Forecast in 2030 | USD 110.2 billion |
| Growth Rate | CAGR of 11.6% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | To fulfill the growing security need for public safety, video surveillance is becoming more and more popular. |
| Key Market Drivers | Smart cities are becoming more popular, and demand for biometric applications, video management, and the internet of things is also rising. |
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Video Surveillance Market USP Covered:
Video Surveillance Market Drivers
Increasing Security Concerns to Boost Market Growth
There is an increasing need for sophisticated surveillance systems due to the surge in criminal activity, terrorism, & public safety issues. Real-time monitoring & recording capabilities provided by mobile video surveillance allow law enforcement officials, security guards, and other organizations to improve situational awareness and respond to situations more successfully.
Video Surveillance Market Opportunities
Need for Monitoring and Surveillance to offer Robust Opportunities
Remote monitoring and management of security systems are made possible by mobile video surveillance from any place. This is especially useful in fields like transportation, public safety, building sites, and remote locations where it would not be practical in maintaining a human presence all the time. Remote monitoring improves operational effectiveness and speeds up reaction in urgent circumstances.
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Video Surveillance Market Restraints and Challenges
Lack of Reliable Connections to act as Market Restraint
The lack of reliable connections, increasing power consumption, need for large storage capacity, data security & privacy issues, and various environmental challenges may act as market restraints over the forecast period.
Video Surveillance Market Segmentation
The global mobile video surveillance market is bifurcated based on application, component, and system.
By system, IP video surveillance will lead the market over the forecast period. There are several reasons for the expansion of IP video surveillance market. First, compared to analogue systems, IP video surveillance systems provide several benefits, such as higher resolution, better scalability, and simpler interaction with the other security systems. Additionally, IP video surveillance market is growing as cloud-based video monitoring systems become more widely used.
By component, hardware will domineer the market over the forecast period. In 2022, the hardware industry had a sizeable portion of the worldwide market for the growing use of video encoders, storage devices, and cameras in the mobile video surveillance systems. In addition, as the use of IP cameras has increased, a number of hardware-based innovations have been made that have significantly improved security, object tracking, and low-light performance. To create cutting-edge cameras & other surveillance systems, several leading market companies make significant investments in R&D, driving the sector's industrial expansion. It is anticipated to increase demand for expanding the market.
By application, school transportation will spearhead the market over the forecast period.
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COVID-19 Analysis
Because of the epidemic, there is a greater need than ever for monitoring & surveillance in public areas, transportation netw orks, healthcare institutions, and other places. Thus, there is a surging need for the mobile video surveillance systems since they provide flexible and portable monitoring. Organizations have been using remote monitoring solutions more and more as a result of physical presence limits and social isolation policies. Mobile video surveillance systems reduced the requirement for on-site workers and reduced the danger of exposure by enabling security officers to remotely watch live video feeds. The epidemic brought home how crucial remote accessibility & data storage are. Due to its scalability, the real-time access to video feeds, & centralized data management capabilities, cloud-based mobile video surveillance solutions have become more popular. To ensure flawless remote monitoring & storage of CCTV footage, businesses looked for cloud-based systems. The mobile video surveillance industry is anticipated to rebound as the world progressively recovers from the epidemic. The adoption of mobile video surveillance systems will continue to be fueled by the continued focus on public safety, security, and risk management across a variety of industries, including transportation, healthcare, retail, and public infrastructure.
Video Surveillance Market Regional Analysis
North America to Head Mobile Video Surveillance Market
Due to growing military and defense applications in nations like the United States & Canada, North America led the market for sophisticated surveillance cameras. Additionally, the market will soon be driven by the expanded deployment of surveillance cameras at regional & international borders to prevent terrorism and criminal activity. In order to increase public safety and strengthen their ability to respond to incidents, government organizations and law enforcement agencies within the region have been investing widely in the mobile video surveillance systems. Mobile video surveillance has become more effective and efficient because of developments in the video surveillance technology, including higher resolution cameras, enhanced video analytics, and wireless networking choices.
APAC to Have Admirable Growth in Mobile Video Surveillance Market
From 2022 to 2030, the Asia-Pacific Market is anticipated to develop at the quickest CAGR. The region's market growth is primarily attributable to the rising population density in many major cities, as well as higher investments in the smart city projects in nations like China, South Korea, & India, as well as the expanding number of retail chains, small businesses, and supportive government initiatives. In addition, the region's easy access to broadband internet connections in fact is significantly driving up smartphone use, which is driving up demand and growth. Additionally, the market in China had the biggest market share while the Asia-Pacific region's fastest-growing market was in India.
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