to a new market research study titled ‘Video Surveillance Market to 2025 –
Global Analysis and Forecasts by Platform, Industries, Service. The global
video surveillance market is calculated to account for US$ 43.8 Bn by 2025 as compared
to US$ 18.3 Bn in 2017, growing at a CAGR of 11.8% during the forecast period
from 2018 to 2025. The report highlights the trends prevalent in the global
video surveillance market and the factors driving the market along with those
that act as deterrents to its growth.
The video surveillance market is poised to expand during the forecast period from 2018 to 2025, owing to various factors existing in the industry across the globe. The major factor bolstering the growth of market for video surveillance is the demand for incorporating artificial intelligence in video surveillance systems. The artificial intelligence facilitates in monitoring, feeding the captured imageries and alerting the guards in case of suspicious activities in and around the workstations. This factor helps the surveillance teams to increase the security level, save human efforts and times. Artificial intelligence is used in video surveillance systems for wide range of applications such as facial recognition, motion detection, license plate reading, and counting people in retail stores or shopping malls among others. With the usage of artificial intelligence, the end users are capable of leveraging specific analytics data, that helps in actionable intelligence for various functions. Video analytics offers the end users to use heat mapping tools, and queue and foot traffic monitoring and recording tools among others. The processing power of modern video surveillance cameras has increased to a greater extend with the incorporation of artificial intelligence, which in turn has increased the hosting power of various analytics tools on to the camera, helping the end users to rely more on IP cameras.
The video surveillance market possesses number of advantages in enhancing the security of different commercial work space, shopping malls, traffic signals, parks, commercial parking spaces, and various industries among others. Attributing to these benefits, the Government of developed economies as well as developing economies are introducing stringent rules to deploy and install technologically enriched video surveillance cameras and systems across each country. Another factor boosting the market for video surveillance is the integration of analytics with the systems. the analytics software are customizable as per the requirement of end users. The requirement of video analytics software for every end user is different depending upon the industries, and thus similar analytics software is off the track technology. The software companies or the video surveillance systems manufacturers are developing robust analytic technologies for wide range of video surveillance applications. Owing to this, the manufacturers or software developers offer the end users with the option of customizing the software that suits the requirements of the end users. This factor is also increasing the interest among various industries to incorporate video surveillance systems with artificial intelligence
The global video surveillance market has been segmented, based on different parameters such as platform, industries, services and geography. Based on platform, the market for video surveillance is bifurcated into hardware and software. The hardware platform is sub segmented as cameras, monitor, storage device and others. On basis of different industries, the video surveillance market is categorized as commercial, residential, industrial, infrastructural and institutional. The different types of services offered by the companies operating in the field of video surveillance includes hosted service, managed service and hybrid service. The market is further examined by evaluating the market on basis of five strategic regions worldwide as North America, Europe, Asia Pacific, Middle East and Africa, and South America.
The key players operating in the field of video surveillance across the globe Honeywell International Inc., Robert Bosch GmbH, Panasonic Corporation, Sony Corporation, Pelco Corporation (Schneider Electric), Samsung Electronics Co., Ltd., Axis Communications AB, FLIR Systems Inc. Dahua Technology Co., Ltd., Samsung Electronics Co., Ltd., and IndigoVision Group Plc.
The report segments the global video surveillance market as follows:
Global Video Surveillance Market – By Platform
Global Video Surveillance Market – By Industries
Global Video Surveillance Market – By Services
Global Video Surveillance Market – By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)