Video surveillance Market to Witness Exponential Growth by 2025
According to a recent report published by KD
Market Insights, titled, "Global Video
Surveillance Market by
System Type, Component, and Application: Global Opportunity Analysis and Industry
Forecast, 2017–2025," the global video surveillance market was
valued at $28,17 4.0 million in 2017, and is projected to reach $87,361.8
million by 2025, growing at a CAGR of 14.2% from 2017 to 2025.
A digital video surveillance system is a
surveillance system capable of capturing images and videos that can be
compressed, stored or sent over communication networks. Digital video
surveillance systems can be used for nearly any environment. Security and
surveillance are required for all organizations worldwide.
Owing to increase in adoption of advanced
surveillance by the government sector, manufacturers have realized the need for
optimum IP surveillance systems. There are many advantages that an IP camera
CCTV system offers over an analog format. IP security cameras send their signal
over a network, allowing greater information transfer than an analog signal
sent to a DVR, which act as a major video surveillance market trend.
North America is one of the key contributors
to the video surveillance market size owing to the increasing number of
applications in commercial, industrial and residential sectors, which fuels the
demand for the video surveillance camera and equipment in the region. For
instance, Mount Royal University in Canada is turning to artificial intelligence
to strengthen its security across its campus. The university will replace the
old CCTV technology with 360-degree high-resolution cameras and a software
system enabled with AI. The project’s three components have been funded by
three different revenue sources, including the university’s operating budget,
the library project fund, and the provincial government’s Infrastructure
Maintenance Act. In addition, an app called MRU is also available for download
on iTunes and the Google Play store that alerts users to safety concerns on
campus and will allow them to report an emergency from their phones.
Based on video surveillance market analysis,
infrastructure segment has generated the highest revenue in 2017 followed by
military & defense segment which is estimated to be the fasted growing
segment among the other application mentioned in the report.
The U.S. is also one of the major contributors
to the video surveillance market growth. U.S Department of Homeland Security’s
Transportation Security Administration (TSA) agency has an authority over the
security of the public travelling in the U.S. On November 19, 2017 the U.S. Secret Service started testing a
facial recognition system that uses security cameras to capture images of
people outside the White House and match their respective identity. This is
expected to increase the demand for video surveillance in the U.S. during the
forecast period.
Key Findings of the Video Surveillance
Market:
- Based on system type, the IP surveillance
cameras segment generated the highest revenue global video surveillance market
in 2017.
- Based on component, the hardware segment generated the highest revenue in the market in 2017.
- Based on application, the commercial segment generated the highest revenue in the market in 2017.
- Based on component, the hardware segment generated the highest revenue in the market in 2017.
- Based on application, the commercial segment generated the highest revenue in the market in 2017.
The key video surveillance market leaders
profiled in the report include HKVISION, Ltd., Bosch Security System, Honeywell
Security Group, Dahua Technology, FLIR, Panasonic, Avigilon, Axis Communication,
Infinova, and PELCO. These key players adopt several strategies such as, new
product launch and development, acquisition, partnership and collaboration and
business expansion to increase the video surveillance market share during the
forecast period. In May 2019, Avigilon launched H5A camera line that offers
expanded object classification analytics as well as detailed object detection
and tracking in crowded scenes. This product brings next generation of neural
network-based video analytic technologies and image processor features. In
March 2019, Hikvision Digital Technology launched 4MP Network IR PTZ Camera
with the higher resolution of previous model. This camera employs 1/1.8”
sensors to raise resolution to 4 megapixels. Further, the company also launched
new AcuSense network camera series to its EasyIP 4.0 security solutions. This
product features strobe light and audio alarm that immediately deters intruders
from entering a prohibited site in the same month
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