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. 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. 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. 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. One of the major factors that has led to the increasing adoption of these video surveillance systems has been the rise of IP camera-based solutions. This can be attributed to the fact that it allows the users to convert their local broadband connection into a home surveillance system. These cameras provide several benefits compared to traditional analog cameras, such as low cost and high durability. Further, IP cameras provide high-resolution images and wide-angle video capturing feature and also allows authorized access to live and recorded video footage on smartphones and tablets.
The global video surveillance industry is one of the most competitive industries, with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the video surveillance industry exhibits an inclination toward emerging strategies and developments by market players. The key players that are actively participating in the video surveillance market include Avigilon Corporation, Axis Communications AB, Canon Inc., Cisco Systems Inc., Dahua Technology Co. Ltd., FLIR Systems Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Huawei Technologies Co. Ltd., Panasonic Corporation, Sony Corporation, and Verint Systems Inc., Bosch Security Systems, Hanwha Techwin Co. Ltd., Honeywell Security, Pelco, and The Infinova Group. Amongst these companies, Hikvision has registered the highest overall revenue in the video surveillance industry in 2019. Video surveillance is on the verge of becoming an indispensable and ubiquitous tool for security systems across the globe. With the extensive public acceptance of the video surveillance systems for ensuring safety and security, the market for surveillance equipment has considerably changed. These systems are increasingly being employed in public as well as private sectors. This increase can be primarily attributed to the increasing implementation of connectivity solutions, and the growing trend to deploy integrated solutions across end-user applications. Moreover, the rising need for safety and security of infrastructure and people has further facilitated the proliferation of surveillance systems among the consumers.
The following are the assumptions considered for the estimation of the video surveillance market:
The scope of this report is focused on cameras, monitors, storage, software, and services used in video surveillance.
The base currency considered for the market analysis is US$. Currencies other than the US$ are converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year.
The video surveillance market has been classified on the basis of ecosystem, application, and region.
The ecosystem market has been classified further on the different types of cameras, storage technologies, software, and services.
The geographical areas have been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. For a structured analysis, North America has further been divided into: the U.S., Canada, and Mexico; Europe into Germany, the U.K., France, and others; Asia-Pacific into India, China, Japan, South Korea, Vietnam, Indonesia, and others; the Middle East and Africa into Saudi Arabia, the U.A.E., and others; and South America into Brazil, and Panama, among others.
The currency conversion rate has been taken from the historical exchange rate of OANDA website.
The video surveillance market size by ecosystem, application, and region has been analyzed in terms of value.
The compound annual growth rate (CAGR) was calculated between 2020 and 2025.
Key Questions Answered in this Report:
• What is the global video surveillance market size in terms of revenue from 2019-2025?
• Which video surveillance category is dominant during the forecast period?
• What is the revenue generated by the different applications, ecosystem categories, and camera types of video surveillance market?
• What are the trends in the global video surveillance market across different regions?
• What are the major driving forces that tend to increase the demand for video surveillance during the forecast period 2020-2025?
• What are the major challenges inhibiting the growth of the global video surveillance market?
• What are the major technological advancements that drive the global video surveillance market growth?
• What was the total revenue generated by the global video surveillance market across different regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) in 2019, and what are the estimates by 2025?
• Who are the key players in the global video surveillance market, and what are the new strategies adopted by them to make a mark in the industry?
• What major opportunities do the video surveillance companies foresee in the next five years (2020-2025)?
• What is the competitive strength of the key leading players in the video surveillance market?
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