Pune, India, April 05, 2022 (GLOBE NEWSWIRE) -- Video Surveillance market is anticipated to grow at a steady growth rate over the forecast period, owing to significant growth in concerns for security along with ongoing trend of smart city infrastructure development. Video Surveillance is the system which monitors activity in building or an area using a television system. It comprises of a system of cameras, recorders, and monitors/display units. Such surveillance systems can both be applied to exterior and interior areas of an exterior or building.
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The footage from video surveillance systems can be monitored distantly by a monitoring company, monitored live by a security guard, or can simply be recorded and stored by a digital video recorder or network video recorder for review later should the need arise. Such systems are rapidly being adopted by governments, financial institutions, enterprises, and healthcare organizations to meet security demands.
Key Insights & Findings:
- The hardware segment led the Video Surveillance market and valued at USD 25.78 Billion in 2020. This is mainly due to tremendous growth in deployment of cameras across the globe as a result of rising security concerns.
- The IP video surveillance systems segment led the Video Surveillance market and valued at USD 27.31 Billion in 2020. This is mainly due to rising adoption of IP video surveillance systems due to its features such as product scalability and high resolution among others.
- The commercial segment accounted for the largest market share and valued at USD 14.68 Billion in 2020. Growth of this segment is mainly driven by rising security concerns across applications, such as enterprises, retail, and banks & financial institutes among others.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia-Pacific region dominated the Video Surveillance market with the market revenue of 21.33 Billion in 2020. Growth of the Asia-Pacific Video Surveillance market is mainly driven by rapid growth in investment for smart cities development coupled with rise in security threats among countries such as China, India, and Japan. However, North America region is likely to register the highest growth during the forecast period due to the rise in threats of terror attacks, growth in incidences of officer brutality, and upsurge in criminal activities.
Key players operating in the global Video Surveillance market includes Avigilon (Motorola Solutions), Axis Communications AB, Aventura Technologies, Inc., Bosch Security Systems Gmbh (Robert Bosch Gmbh), Cisco Systems, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Dahua Technology Co., Ltd., Eagle Eye Networks, Flir Systems, Inc., Pelco (Schneider Electric), Honeywell Security (Honeywell International Inc.), Panasonic Corporation, The Infinova Group, and Verkada Inc. among others. To enhance their market share in the global Video Surveillance market, the key vendors are now focusing on adopting the prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.
- For instance, in June 2021, Hangzhou Hikvision Digital Technology Co., Ltd., one of the largest security camera manufacturers, acquired a major stake in Syscom, the Mexico's largest security systems distributor.
- In June 2019, Avigilon Corporation, a Motorola Solutions company launched Avigilon Blue platform in the United Kingdom. For the partners of Avigilon, this Avigilon Blue cloud service platform offers an easy-to-install, cloud-based video security solution.
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Global Video Surveillance Market by Offering:
- Hardware
- Software
- Service
Global Video Surveillance Market by System:
- Analog Video Surveillance Systems
- IP Video Surveillance Systems
Global Video Surveillance Market by Vertical:
- Commercial
- Infrastructure
- Military & Defense
- Residential
- Public Facility
- Industrial
Global Video Surveillance Market by Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
About the report:
This research report gives detailed data about the major factors influencing the growth of the Video Surveillance market at the national and local level forecast of the market size, in terms of value, market share by region, and segment; regional market positions; segment and country opportunities for growth; Key company profiles, SWOT, product portfolio and growth strategies. It studies the market essential sides such as top participants, expansion strategies, business models, and other market features to improve market insight.
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