Portland, June 28, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global video surveillance market contributed $28.18 billion in 2017 and is estimated to garner $87.36 billion by 2025, growing at a CAGR of 14.2% from 2017 to 2025. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
The integration of IoT in surveillance cameras along with growth in the transition from analog surveillance to IP cameras drive the market of the global video surveillance market. Furthermore, the surge in need of safety in high risks areas boosts market growth. However, high investment hampers the growth of this market. On the contrary, emerging trends toward development of smart cities are expected to offer lucrative opportunities for the growth of the smart grid market.
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IP surveillance segment to maintain its dominance by 2025
The IP surveillance segment accounted for more than half of the total revenue in 2017 and will maintain its dominance by 2025. However, the hybrid surveillance segment is expected to register the highest CAGR of 17.3% from 2017 to 2025.
Asia-Pacific region to maintain lead position by 2025
Asia-Pacific region accounted for more than two-fifths of the market in terms of revenue in 2017. This region is expected to grow at the highest CAGR of 16.1% during the forecast period. The research also analyzes other regions including North America, Europe, and LAMEA.
Software communications segment to grow at the highest CAGR
The software communications segment is expected to register the highest CAGR of 16.7% from 2017 to 2025. However, the hardware segment accounted for more than five-sevenths of the total revenue in 2017 and will maintain its dominance by 2025.
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A commercial segment to maintain its dominance by 2025
The commercial segment accounted for nearly one-fourth of the total revenue in 2017 and will maintain its dominance by 2025. However, the infrastructure segment is expected to register the highest CAGR of 18.1% from 2017 to 2025.
Leading market players
The key market players explored in the research include PELCO, Hikvision Digital Technology Co., Ltd., Infinova, Bosch Security System, Axis Communication, Honeywell Security Group, Avigilon, Dahua Technology, FLIR, and Panasonic. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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