The Video Surveillance market is anticipated to grow at a high speed in the years to come. The market value was USD 28.52 billion in the year 2016. The mobile video surveillance market value is anticipated to reach up to USD 80 billion over the forecast period (2020-2023), with a CAGR of about 18.73%.
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The MRFR report provides an inclusive segmental analysis of the global Video Surveillance Market based on component and applications.
- By Component, the global video surveillance market is segmented into services, hardware, and software. Of these, the hardware component will lead the market over the forecast period. It is likely to grow at a 17% CAGR.
- By Applications, the global video surveillance market is segmented into residential, defense, institutional, commercial, and infrastructure. Of these, the infrastructure segment will dominate the market over the forecast period, and the residential sector is likely to develop at a healthy 21% CAGR over the forecast period.
Some of the key players in the market are Zhejiang Dahua Technology Co., Ltd. (China), Axis Communications AB (Sweden), Bosch Security Systems Inc. (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), FLIR Systems Inc. (U.S.), Honeywell Security Group (U.S.), Avigilon Corporation (Canada), Pelco (U.S.), Panasonic System Networks Co., Ltd. (Japan), Hanwha Techwin Co., Ltd. (South Korea) and NICE System Ltd. (Israel).
Based on region, the global video surveillance market report covers the recent trends and growth opportunities across North America, the Asia Pacific (APAC), Europe, & the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. Developed network architecture, technical advances, and increasing adoption of surveillance equipment are adding to the global video surveillance market growth in the region.
The global video surveillance market in Europe is predicted to hold the second-largest share over the forecast period. Increasing use of cloud based services by industries and improvement in network infrastructure are adding to the global video surveillance market growth in the region.
The global video surveillance market in the APAC region is predicted to grow at a fast pace over the forecast period. Heavy investments in smart city projects, rising number of security concerns and threats in South Korea, India, Japan, and China, increasing awareness about security and safety across different verticals like infrastructure, commercial, and public places, and rising incidence of terrorist attacks, theft, and other crimes are adding to the global video surveillance market growth in the region. Additional factors adding market growth include initiatives by the government in different countries to install video surveillance cameras in public places like stations, airports, religious places, colleges, schools, and cities, rising penetration of new technologies like remote asset management, retail management, people counting, facial recognition, and automatic number plate recognition, and the availability of low-cost cameras.
The global video surveillance market in the RoW is predicted to have sound growth over the forecast period.
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- Technology Investors
- Research/Consultancy Firms
- Cloud Service Providers
- Security Service Providers
- Managed Service Providers
- Cloud Storage Providers
- Infrastructure Providers