Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Global Surveillance Technology Market 2030 by Component, Technology, Enterprise Size, Application, End-user and Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.
The global Surveillance Technology Market is set to experience a significant surge, expanding from USD 126.3 billion in 2022 to an estimated USD 242.3 billion by 2030. According to a newly published research report, this growth translates to a steady Compound Annual Growth Rate (CAGR) of 8.7% over the forecast period from 2023 to 2030.
Industry leaders such as IBM Corporation, Cisco, and Honeywell are making noteworthy contributions to this escalation, with burgeoning applications across diverse sectors enriching the market landscape. Advanced innovations and the need for heightened global safety are among the key elements propelling the Surveillance Technology Market forward.
The report underscores the crucial role that surveillance technology plays in crime reduction. With a statistical spotlight on China's extensive utilization of surveillance cameras leading to a diminished crime index, the document also cites a study by Cornell University corroborating the efficacy of such systems in preventing crimes.
Navigating Privacy Concerns and AI Integration in Surveillance Systems
While the proliferation of surveillance technology holds substantial promise for public security, it also gives rise to privacy and ethical debates. The research identifies privacy concerns as a major challenge, highlighting potential risks of surveillance systems infracting on individuals' rights.
In response to these concerns and to enhance system capacities, the market is witnessing an accelerated incorporation of Artificial Intelligence (AI). AI's role in augmenting video analysis capabilities signifies a leap towards more intelligent and less intrusive surveillance options—an evolution that offers promising growth opportunities for the entire industry.
Analysis by Geography and End-Users
With North America at the forefront due to technological advancements and security challenges, the report segments the market based on numerous geographic and component-based criteria. These include:
- Surveillance Technology Market by Component (Software and Services)
- Surveillance Technology Market by Technology (Video Surveillance, Big Data, Biometrics, etc.)
- Market by Enterprise Size (Large Enterprises, SMEs)
- Market by Application (Data Security, Asset Management, etc.)
- Market by End User (BFSI, IT & Telecom, Healthcare, and more)
- Detailed Regional Insights (North America, Europe, Asia Pacific, and Rest of the World)
Informed by an analysis of market dynamics, competitive landscape, and regional segments, the report offers insights into major players' strategies and outlines the trajectory of surveillance technology adoption across various sectors. Stakeholders across the global Surveillance Technology Market can leverage this comprehensive coverage to strategize their market positioning and capitalize on emerging trends.
Key Insights from the Surveillance Technology Market Report
This significant report provides an extensive overview of the global market trends, offering stakeholders a robust foundation upon which to build and compete effectively in this fast-evolving industry landscape:
- Comprehensive market segmentation enables targeted approach
- Impact analysis of market dynamics shapes strategic objectives
- Competitive intelligence enhances understanding of market competition
- Investment analysis facilitates identification of growth opportunities
Report Segmentation
Surveillance Technology Market, By Technology
- Video Surveillance
- Camera
- Hybrid Camera
- Analog Camera
- IP Camera
- Big Data
- Personnel Body Cameras
- Biometrics,
- Domestic Drones
- Face Recognition Technology
- RFID Chips
- Stingray Tracking Devices
Surveillance Technology Market, By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
Surveillance Technology Market, By Application
- Payment & Settlement
- Data Security
- Data Sharing & Communications
- Asset Tracking & Management
- Others
Surveillance Technology Market, By End User
- BFSI
- IT & Telecom
- Manufacturing
- Healthcare
- Others
Companies Profiled
- IBM Corporation
- Cisco
- Honeywell
- Elliptic Enterprises Limited
- Evolv Technologies Inc.
- ComplyAdvantage
- Gilead Sciences Inc.
- Neurala Inc.
- Anduril Industries Inc.
- Quantexa Limited
- Palantir Technologies Inc
- Behavox Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/t0ffd
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