Global $62 Billion Video Surveillance Market Forecasts to 2023 with Avigilon, Axis Comms, Panasonic, Hanwha Techwin, Bosch Security and Hangzhou Hikvision Digital Technology Dominating
January 03, 2018 --
DUBLIN, Jan. 3, 2018 /PRNewswire/ --
The "Global Video Surveillance Market Analysis and Forecast (2017-2023) - Focus on Ecosystem (Camera, Monitor, Storage, Software and Service) and Application (Infrastructure, Commercial, Residential, Industrial, Institutional and Others)" report has been added to Research and Markets' offering.
Global Video Surveillance Market to Reach $62.62 Billion by 2023
The process of the evolution of video surveillance cameras and technologies has considerably changed the overall surveillance industry in terms of money saving, increased safety, and convenience of the users. The video surveillance market, as a whole, is growing at a significant rate and is expected to reach a substantial level by 2023.
Moreover, the video management systems are gaining popularity, and the sector is expected to grow at a robust rate in the future. The video surveillance market is witnessing a pattern of transition due to the increasing market penetration of IP cameras. The IP camera market is expected to grow at a significant rate during the forecast period. 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 when compared with the traditional analog cameras, such as low cost, and high durability.
There is no doubt that the market has many driving forces which will contribute in the mushrooming demand of video surveillance systems, but there are certain restrains that could be plaguing the video surveillance market in the coming years. For example, the changing trend to IP based video surveillance systems will present the need of high capacity storage solutions, because of the ability of continuous monitoring and high quality output.
Moreover, as the world becomes more and more networked, the integrity of the recorded data could be compromised. Hence, lack of standardization and data surveillance laws continue to be the pain points for the market. Also, the existing security personnel are not familiar with the concepts of networking and related aspects. Therefore, the market is experiencing a lack of skilled professionals that could manage both the operation and software problems in a surveillance system.
The report also covers the video surveillance market on a global scale, and consequently provides revenue data of the key regions. The application areas for video surveillance systems have increased steadily over the past five years. This increase can be primarily attributed to the increasing penetration of connectivity solutions and the trend to deploy integrated solutions across end user applications. Also, the rising need for safety and security of infrastructure and people has further facilitated the proliferation of surveillance systems among the consumers.
With a meticulous approach, the market study has identified APAC as the leading region in the global video surveillance ecosystem market accounting for almost 43% of the net revenue generated by the video surveillance equipment, software, and services, and is expected to continue with its dominance during the forecast period as well. Europe is also anticipated to be a promising market with explosive demands expected from the U.K., Germany and other European nations.
Key questions answered in the report
- What will be the global video surveillance market value by 2023 along with the estimated CAGR?
- What are the driving factors for the global video surveillance market through 2017 to 2023?
- Which factors are impeding the growth of the global video surveillance market?
- How will IP cameras surpass the demands of analog video surveillance systems in the next two years?
- Which storage technology will prove to be the most cost-efficient for video surveillance systems?
- What is the importance of software in video surveillance systems?
- Which application will dominate the global video surveillance application market by 2023?
- Which region will lead the global video surveillance market by 2023?
Key Topics Covered:
1 Report Scope & Methodology
1.1 Scope of the Report
1.2 Video Surveillance Market Research Methodology
2 Market Dynamics
2.1 Market Drivers
2.1.1 Reduced Reliance on Physical Security
2.1.2 Government Initiatives to Improve Public Safety
2.1.3 Increased Demand for IP Cameras as a Result of the Ubiquity of the IoT
2.1.4 Increased Processing Speed due to the Development of System on Chips (SoC)
2.2 Market Restraints
2.2.1 Privacy Issues and Threat to Data Integrity
2.2.2 Demand for Higher Bandwidth and Stronger Network Connection
2.2.3 Burden of Data Storage for Government Agencies
2.3 Market Opportunities
2.3.1 Increasing Demand for VSaaS and VCA
2.3.2 Artificial Intelligence in Video Surveillance
2.3.3 Increasing Demand for Intelligent Transportation Systems
2.3.4 Integration of Video Surveillance with Technologies, such as Drones, and Body-worn Cameras
3 Competitive Insights
3.1 Key Strategies and Developments
3.2 R&D Analysis
3.3 Leading Players' Analysis
3.4 Market Share Analysis
4 Global Video Surveillance Market Breakdown by Ecosystem
4.1 Assumptions and Limitations
4.2 Market Overview
4.3 Global Video Surveillance Market Breakdown, by Ecosystem
4.3.1 Camera Market Overview
188.8.131.52 Camera Market by Technology
184.108.40.206 Camera Market, by Product Type
220.127.116.11 Camera Market, by Application
18.104.22.168 Camera Market, by Region
4.3.2 Monitor Market Overview
4.3.3 Storage Market Overview
4.3.4 Software Market Overview
4.3.5 Service Market Overview
5 Global Video Surveillance Market Breakdown, by Application
5.1 Market Overview
6 Global Video Surveillance Market Breakdown, by Region
7 Company Profiles
- Avigilon Corporation
- Axis Communications AB
- Bosch Security Systems
- Cisco Systems, Inc
- Dahua Technology Co., Ltd
- FLIR Systems, Inc
- Hangzhou Hikvision Digital Technology Co., Ltd
- Hanwha Techwin CO., LTD
- Honeywell Security
- Johnson Controls International PLC
- Panasonic Corporation
- The Infinova Group
- Verint Systems Inc
For more information about this report visit https://www.researchandmarkets.com/research/xs8n49/global_62?w=5
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