Escalating Need For Safety And Security To Drive The Global Video Surveillance Market Growth
A video surveillance system refers to a surveillance system that takes videos and pictures that can be stored, compressed, or shared through communication networks. At present, surveillance and security are needed for all establishments across the world. Enterprises, healthcare institutions, governments, and financial organization are supposed to have a specific level of monitoring and security measures. Owing to this, there has been a considerable rise in the need for security applications like video surveillance to record and monitor corporate houses, ports, public places, buildings, borders, educational institutes, transportation infrastructure, and others. This, in turn, has contributed significantly to the growth of the global video surveillance market.
Also, The launch of innovative IP-based digital technologies—to prevent and identify objectionable behaviors, like thefts, shoplifting, terror attacks, and vandalism—is projected to boost the expansion of the global video surveillance market during the forecast period. further, several establishments have begun utilizing video surveillance system solutions due to their escalated reliance on security systems. To cite, in November 2018, video surveillance system solutions were successfully deployed by InfiNet Wireless located in Europe in the Northwestern Mexico ports. The project was implemented in cooperation with a system integrator and Global VoIP.
The global video surveillance market can be categorized based on component, system type, enterprise type, customer type, application, and geography. the market, based on component, is classified into software, services, and hardware. Further, the hardware segment is sub-categorized into monitor, camera, accessories, and storage. Also, the software segment is sub-divided into video management software and video analytics. The market, based on system type, is bifurcated into IP surveillance, hybrid surveillance, and analog surveillance. The market, based on enterprise type, is segmented into medium scale enterprise, small scale enterprise, and large scale enterprise. The market, based on customer type, is segregated into B2C and B2B. the market, based on application, is classified into military & defense, commercial, residential, infrastructure, and others.
Regionally, North America is projected to dominate the global video surveillance market during the forecast period. This regional expansion can be attributed to the technical innovations along with the growing cognizance about security and safety. Also, Asia Pacific is deemed to witness fastest expansion on account of the development in network infrastructure and rising implementation of cloud-based services by businesses.
Few of the major players active within the global video surveillance market consist of Axis Communications AB, Panasonic System Networks Co., Ltd., Zhejiang Dahua Technology Co., Ltd., Hangzhou Hikvision Digital Technology Co., Ltd., Avigilon Corporation, Bosch Security Systems Inc., Pelco, Honeywell Security Group, FLIR Systems Inc., NICE System Ltd., and Hanwha Techwin Co., Ltd., among others.