Increasing competitive advantages of video surveillance over conventional physical surveillance techniques have made video surveillance an essential system for homeland security and commercial applications. Factors such as low operation cost, rapid deployment, and large coverage area of surveillance cameras have led to an increase in its adoption in defense and infrastructure sectors. Moreover, do-it-yourself (DIY) methods of video surveillance has facilitated the wider adoption of video surveillance systems by the homeowners. Additionally, the growing coverage of Internet of Things (IoT) ecosystem enables the consumer to monitor the video footage of his/her house/object over the virtual network through gadgets.
The video surveillance market research study offers a wide perspective on the analysis of the industry. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
The report highlights the key driving factors and challenges for this market as well as the opportunities for video surveillance. In the extensive primary research process undertaken for this study, the primary sources include industry experts and key executives from prominent companies and their distributors in the video surveillance industry. This report segments the market and breaks down the industry geographically as North America (U.S. and Canada), Europe (Germany, U.K., France, and Rest-of-Europe), Asia-Pacific (China, Japan, South Korea, India, Vietnam, Indonesia, and Rest-of-Asia-Pacific), Latin America (Brazil, Mexico, Panama, and Rest-of-Latin America) and the Middle East and Africa (Saudi Arabia, U.K., Israel, South Africa, and Rest-of-Middle East and Africa).
The evolution in video surveillance technologies has significantly changed the overall surveillance industry in terms of providing increased safety, cost-effectiveness, and convenience to the users. The video surveillance industry is expected to go through a metamorphic phase involving an unprecedented period of innovation and disruption. The video surveillance market, as a whole, is growing at a significant rate and is expected to reach a substantial level by 2025. The video surveillance industry is more than XX years old, with the last two decades experiencing technological advancements from analog closed-circuit television (CCTV) to digital network video surveillance systems. Advanced video surveillance systems are easy to install and maintain, provide remote monitoring capabilities, and offers longer retention for recorded video footage with consistency in image and video quality. According to BIS research analysis, the digital universe is expected to double every three years and is expected to reach XX trillion gigabytes. Thus, to handle such a large amount of data, new technologies will be required to integrate into video surveillance systems for efficient operations.
Moreover, the video management systems are gaining popularity, and the sector is expected to grow at a robust rate in the coming five years (2020-2025). The video surveillance market is witnessing a pattern of transition due to the increasing market penetration of IP cameras in various application sectors for their high clarity and image responsiveness.
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The increase in security concerns and the growing need for highly efficient, time-saving surveillance systems at reasonable costs, is one of the matters to be looked upon in the current scenario. The attempt to deliver such solutions with the growing application across many verticals is considered as one of the major drivers for the video surveillance industry. With the increasing security concerns, along with rising initiatives by the government to spend on surging digitization and smart cities, the number of cameras being used for video surveillance is also increasing. The governments of various nations are deploying video cameras on a massive scale in order to create stronger security systems for their respective countries. These video surveillance systems provide various benefits, such as asset and theft protection, remote monitoring services, gathering evidence to help legal authorities to arrive at the right decisions, increased workplace productivity, and traffic management via automatic license plate recognition. Some private sectors, including banking and finance, hospitals, research labs, sports facilities, corporate headquarters, and auditoriums also require cutting-edge video surveillance technology with improved security features whereas commercial and residential sectors may require cost-effective and efficient cameras solutions, such as zoom-specific cameras and low-light cameras.
