LONDON, April 17, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the mobile video surveillance market identifies rising criminal activity to drive the mobile video surveillance industry ahead in the coming years. Criminal activities are acts of crime that are banned by criminal law and consist of the manifestation of physical or mental elements to carry out the crime. It is a serious, punishable offence under state or national law. Mobile video surveillance aids in the detection of criminal activity in public locations and also captures live public events; hence, an increase in criminal activity will increase demand for mobile surveillance solutions. According to the New York Police Department, a US-based municipal law enforcement organisation, in November 2022, a total of 4,367 arrests were made throughout the USA for accusations of major felonies in October 2022, a 16.5% rise in major felonies compared to October 2021. As a result, increased criminal activity is propelling the mobile video surveillance market growth.
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The global mobile video surveillance market size is expected to grow from $2.1 billion in 2022 to $2.3 billion in 2023 at a compound annual growth rate (CAGR) of 9%. The global mobile video surveillance market share is then expected to grow to $3.1 billion in 2027 at a CAGR of more than 8%.
Major players in the mobile video surveillance industry are Hikvision Digital Technology Co. Ltd., Dahua Technology Co. Ltd., Axis Communications AB, Bosch Security Systems Inc., Hanwha Techwin Co. Ltd., Avigilon Corporation, Teledyne FLIR LLC, Huawei Technologies Co. Ltd., Seon Design Inc.
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Technological advancement is gaining traction among the mobile video surveillance market tends. To strengthen their market position, major players in the mobile video surveillance industry are focusing on developing new AI multi-directional cameras. For example, in May 2022, Hanwha Techwin, a South Korean video surveillance business with the best optical design and manufacturing expertise, released the PNM-C12083RVD, the first artificial intelligence (AI) multi-directional camera. Its distinguishing characteristic is that it uses artificial intelligence technology to deliver improved object identification and user comfort. The AI-powered features reduce false alarms, differentiate human faces, identify specific vehicles, and recognize license plates. It employs AI to decrease image blurriness in low-light situations, producing in clear images.
North America was the largest region in the mobile video surveillance market in 2022. Asia-Pacific is expected to be the fastest-growing region as per the global mobile video surveillance market overview during the forecast period. The regions covered in the global mobile video surveillance market analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The global mobile video surveillance market is segmented by offering into hardware, software, service; by vertical into law enforcement, industrial, military and defense, first responders, transportation; by application into railways, buses, transport vehicles, police vehicles, drones.
Mobile Video Surveillance Global Market Report 2023 by The Business Research Company provides insights on the mobile video surveillance market size, mobile video surveillance market segments, mobile video surveillance market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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