Global video surveillance market is an emerging tremendous technological market in upcoming years
In the ad hoc era due to increasing number of crime rates, and other security issues people are using security camera or surveillance. Thus the video surveillance equipment and services market has been primarily driven by increasing need to secure various buildings, sites and premises. With rising security threats and increasing instances of crime and terror attacks, there has been a growing need for public safety and protection. Video Surveillance is anticipated to become a ubiquitous tool in the security systems across all the the regions.
Based on the end user the market is isolated into areas some of which are bars, banks, casinos, schools, hotels, airports, hospitals, restaurants, military installations, commercial segments etc. , the commercial segment is expected to grow at a modest CAGR between 2016 and 2024. The high demand for security systems from large and small retail businesses is increasing to reduce robbery and inventory loss.
The market of video surveillance is expected to reach at USD 76.64 Billion by 2024 and further the global video surveillance market is predicted to register a modest CAGR of 15.04% over the forecast period i.e. 2017-2024.
Geographically, North America is the largest region in global video surveillance market with 40% market share in 2016. It is expected to reach at a value of USD 30.65 billion by 2024 from USD 12.54 billion in 2016.
Rising application in video analytics: Major boost
Video analytics software is a program created to reinforce the review of growing hours of surveillance video that a security guard may never have time to watch. Video analytics has lots of advantages such as this program makes surveillance system more efficient, it also reduces the workload on security guard and management staff, and helps to capture the full value of security video by making IP camera system more intelligent in its work. This can work as major boost in global video surveillance market.
Upgradation of technologies: Innovation
The market should always try to come up with new technologies and innovation such as wireless technology inspite of wired technology as well as alarm surveillance etc.
However, system problem, and lack of awareness can turn out to be a great disadvantage for this market.
“Global Video surveillance Market Outlook 2024”
It contains detailed overview of the global video surveillance market in terms of market segmentation by product type, by material type, by technology type, by vertical.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also provides competitive outlook of some of the major players of the global video surveillance market which includes profiling of companies of Axis Communications, Bosch Security, Hikvision, Honeywell Security, NICE Systems, Tyco, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global video surveillance market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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