Pune, India, Nov. 23, 2022 (GLOBE NEWSWIRE) -- The global video surveillance market size was worth USD 19.12 billion in 2018. It is projected to rise from USD 33.60 billion by 2026, exhibiting a CAGR of 6.8% during the forecast period, 2022-2026. Increasing usage of deep learning technology helps in lowering calibration of algorithms and facilitating video analytics. Fortune Business Insights™ has published this information in its latest research report titled, “Video Surveillance Market Forecast, 2022-2026.”
Request a Sample Copy of the Research Report:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/video-surveillance-market-102673
Industry Development
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.
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.
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 | 2018 |
| Video Surveillance Market Size in 2018 | USD 19.12 Billion |
| Historical Data for | 2015 to 2017 |
| No. of Pages | 150 |
| Segments covered | Component, End-User and Geography |
| Video Surveillance Market Growth Drivers | Increasing Smart City Initiatives to Skyrocket Demand |
| Outbreak of COVID-19 Pandemic to Hamper Growth |
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.
Click here to get the short-term and long-term impact of COVID-19 on this Market:
https://www.fortunebusinessinsights.com/video-surveillance-market-102673
Drivers and Restraints
Increasing Smart City Initiatives to Skyrocket Demand
The rising adoption of artificial intelligence (AI) worldwide is one of the major video surveillance market growth drivers. The Carnegie Endowment for the International Peace Organization published a paper in 2019 which states that out of the total 176 countries, 75 of them are using AI for surveillance purposes, such as smart citing, facial recognition systems, and more. It proves that the rising development of facial recognition applications and smart city initiatives by several regions would contribute to the market growth
Outbreak of COVID-19 Pandemic to Hamper Growth
In December 2019, as the outbreak of Covid-19 started in Wuhan, China began showcasing a reduction in production backed by the lack of man-power. It is because China is considered to be a major hub for the production of video surveillance equipment. In addition to that, the local demand for this type of equipment is likely to lower as every country is currently emphasizing on controlling the pandemic. Almost every region, such as Asia Pacific and North America are under lockdown. It would affect the cross-border and domestic transportation and logistics of video surveillance systems, such as system-on-chip devices and CMOS sensors. If the pandemic is controlled, it would have a considerable impact on the market. If not, then it can obstruct growth for a long time period.
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.
Have Any Query? Ask Our Experts:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/video-surveillance-market-102673
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.
Competitive Landscape-
Key Players Focus on Launching State-of-the-art Equipment to Intensify Competition
Prominent companies operating in the market are mainly engaging in the strategy of innovative product launches to fulfil the demand of their growing consumer bases. They are also persistently striving to gain new orders from industry giants, as well as tourist spots to deliver their in-house systems. Below are a couple of key industry developments:
List of Key Players in video surveillance market:
- Avigilon Corporation
- BCDVideo
- Bosch GmbH
- Dahua Technology Co., Ltd.
- Axis Communications AB
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International, Inc.
- Huawei Technologies Co., Ltd.
- Panasonic Corporation
- Pelco
- FLIR Systems, Inc.
Access Full Report:
https://www.fortunebusinessinsights.com/checkout-page/102673
Major Table of Contents:
- Global Video Surveillance Market Analysis, Insights and Forecast, 2015-2026
-
- By Component
- Hardware
- Software
- Video as a Service
- By End-User (Value)
- Commercial
- Industrial
- Residential
- Government
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Component
-
- North America Video Surveillance Market Analysis, Insights and Forecast, 2015-2026
-
- By Component
- Hardware
- Software
- Video as a Service
- By End-User (Value)
- Commercial
- Industrial
- Residential
- Government
- By Country (Value)
- United States
- Canada
- By Component
-
- Europe Video Surveillance Market Analysis, Insights and Forecast, 2015-2026
-
- By Component
- Hardware
- Software
- Video as a Service
- By End-User (Value)
- Commercial
- Industrial
- Residential
- Government
- By Country (Value)
- U.K.
- Germany
- France
- Italy
- Rest of Europe
- By Component
-
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.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
