Pune, India, June 15, 2022 (GLOBE NEWSWIRE) -- The global video surveillance market is likely to gain momentum from the increasing usage of deep learning technology. It helps in lowering calibration of algorithms and facilitating video analytics. Therefore, it is capable of driving the usage of video surveillance software in the near future. This information is given in a recently published report by Fortune Business Insights™, titled, Forecast, 2021-2026." The report further mentions that that the video surveillance market size was USD 19.12 billion in 2018 and is projected to reach USD 33.60 billion by 2026, exhibiting a CAGR of 6.8% during the forecast period.
KEY INDUSTRY PLAYERS
- July 2019: Honeywell unveiled its latest 30 Series IP cameras. It is a new range of video cameras that are capable of strengthening safety and security of buildings through secure channel encryption and advanced analytics.
- May 2018: Division USA Inc. delivered its high-resolution, innovative IP security system to modernize the security of a national historic landmark in Wilmington called the Battleship North Carolina.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2019 to 2026 |
| Forecast Period 2019 to 2026 CAGR | 6.8% |
| 2026 Value Projection | USD 33.60 billion |
| Base Year | 2020 |
| Video Surveillance Market Size in 2018 | USD 19.12 billion |
| Historical Data for | 2015 to 2017 |
| No. of Pages | 150 |
| Segments covered | Component, End-Use and Geography |
| Video Surveillance Market Growth Drivers | Emergence of AI Surveillance Technology Would Ensure to Drive Growth |
| Growing Adoption of Body-worn Cameras Across Several Industries such as Healthcare & Retail to Drive Growth | |
| Outbreak of Pandemic COVID-19 has Led to a Severe Downturn in the Global Market |
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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This Report Answers the Following Questions:
- What are the video surveillance market trends, growth drivers, and hindrances?
- How will the market be impacted in the future?
- What are the opportunities and challenges that the market may come across in the coming years?
- Which region is likely to lead the market by generating maximum revenue?
- Which strategies are being adopted by key players to augment sales?
Segment-
Industry Segment to Grow Significantly Owing to Security Issues in Manufacturing Sector
Based on end user, the market is segregated into government, residential, industrial, and commercial. Out of these, the industrial segment held 21.4% video surveillance market share in 2018. This sector consists of the automobile industry, manufacturing & construction industry, and others. The manufacturing industry is mainly susceptible to a broad range of security issues, namely, theft of raw materials, such as steel, copper wires, and optical fibres, as well as expensive machines. Vandalism is also a major threat. Hence, video surveillance systems are required to conduct organized surveillance throughout the plant.
Drivers and Restraints
Emergence of AI Surveillance Technology Would Ensure to Drive Growth
Artificial intelligence technology has gained traction in recent years. According to a paper published by Carnegie Endowment for the International Peace Organization, in 2019, out of a total of 176 countries, 75 countries are actively leveraging artificial intelligence capabilities for surveillance purposes including facial recognition systems, smart cities, and others. This data reflects that the growing smart city initiatives & developments and facial recognition applications are likely to drive the adoption of surveillance systems using cameras during the forecast period.
Growing Adoption of Body-worn Cameras Across Several Industries such as Healthcare & Retail to Drive Growth
The increasing use of body-worn cameras by the security forces or law enforcement agencies has led to an adoption of these cameras across other industries such as healthcare and retail. Body-worn cameras have several benefits in industries such as healthcare, retail, and hospitality to improve customer relations, enhance workforce protection, and help prevent unusual activities. A body-worn camera enables the employees to capture real-time events and send real-time threat alerts and notifications to the security authorities.
Hence, considering the above-mentioned factors, the market players are integrating body-worn cameras and video analytics capabilities to address the requirements of the end-users. For instance, in March 2020, Avigilon Corporation, a Motorola Solutions company, announced the integration of its video analytics and security portfolio of VideoTag enterprise bodyworn cameras and Avigilon Control Center (ACC) video management tools.
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| Video Surveillance Market Segments | By Component
|
By End-User
|
Regional Analysis-
Asia Pacific to Remain at the Forefront Stoked by High Government Initiatives in China
Geographically, the market is divided into Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. Amongst these, Asia Pacific held USD 10.58 billion in terms of video surveillance market revenue in 2018. The region is anticipated to lead in the forthcoming period. This growth is attributable to the participation of China. The Chinese government is taking various initiatives to promote the utilization of such surveillance equipment. For instance, in 2017, it announced the completion of the ‘Skynet' video surveillance program. It further helped in creating one of the largest surveillance networks worldwide. North America is set to grow significantly backed by the increasing adoption of these systems in many countries.
List of Key Companies Profiled:
- Avigilon Corporation
- Axis Communications AB
- BCDVideo
- Bosch GmbH
- Dahua Technology Co., Ltd
- FLIR Systems, Inc.
- Hangzhou Hikvision Digital Technology Co., Ltd
- Honeywell International, Inc
- Huawei Technologies Co., Ltd.
- Panasonic Corporation
- Pelco
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Major Table of Contents:
- Global Video Surveillance Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Component (Value)
- Hardware
- Camera
- Hybrid Camera
- Analog Camera
- IP Camera
- Storage Devices
- Others
- Software
- Video Management Software
- Video Analytics Software
- Video as a Service (VSaaS)
- Hardware
- By End-User (Value)
- Commercial
- Industrial
- Residential
- Government
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Component (Value)
- North America Video Surveillance Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Component (Value)
- Hardware
- Camera
- Hybrid Camera
- Analog Camera
- IP Camera
- Storage Devices
- Others
- Software
- Video Management Software
- Video Analytics Software
- Video as a Service (VSaaS)
- Hardware
- By End-User (Value)
- Commercial
- Industrial
- Residential
- Government
- By Country (Value)
- United States
- Canada
- By Component (Value)
- Europe Video Surveillance Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Component (Value)
- Hardware
- Camera
- Hybrid Camera
- Analog Camera
- IP Camera
- Storage Devices
- Others
- Software
- Video Management Software
- Video Analytics Software
- Video as a Service (VSaaS)
- Hardware
- By End-User (Value)
- Commercial
- Industrial
- Residential
- Government
- By Country (Value)
- U.K.
- Germany
- France
- Italy
- Rest of Europe
- By Component (Value)
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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