Video Surveillance Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Global Video Surveillance Market

Market Overview

Video surveillance, also known as CCTV is the utilization of video cameras to broadcast a signal to a specific place, on a controlled set of monitors. Video surveillance system monitors activity in an area or building using a television system in which signals are transmitted from a television camera to the receivers by cables or telephone links forming a closed circuit. This system is 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.

Now there are high resolution cameras which can easily capture the things due to its better qualities. Increasing use of video analytics such as facial recognition, behavior analysis, and event prediction etc tends to expand the market. Video surveillance systems monitor activity in public areas and commercial buildings for real-time monitoring or later review. It is a combination of hardware and software component and is used to capture and analyze the video. The urge of video surveillance market arose from increased number of crime rates, growing smart phone applications and compatibility with existing networks. However, growth of video surveillance market can be hampered by lack of domain knowledge of video surveillance among consumers.

Market segmentation

On the basis of system

• Analog surveillance system
• IP surveillance system
• Biometrics surveillance system

On the basis of solutions

• Hardware solutions
  • Camera
  • Monitor
  • Server
  • Storage device
  • Accessories
• Software solutions
  • Video analytics
  • Video management system
  • Neural networks
• Services
  • Installation
  • Maintenance
  • Repair services

On the basis of verticals

• Banking & Financial
• Government & Transportation
•  Retail & Logistics
• Commercial Offices
• Industrial & Manufacturing
• Residential
• Hospitality & Healthcare
• Educational Institutions

On the basis of regions  

• North America (US, Canada) {Market Share (%), Market Size (USD Billion), Product Sales (Units)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Product Sales (Units)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Product Sales (Units)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Product Sales (Units)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Product Sales (Units)}
• Rest of the World{Market Share (%), Market Size (USD Billion), Product Sales (Units)}

Market size and forecast

The global video surveillance market was valued at approx USD 31.37 Billion in 2016 and is anticipated to reach approx USD 76.84 Billion by 2024, at a CAGR of 15.04% over the forecast period.

On the basis of solutions, hardware segment dominated the video surveillance market by 40% market share in 2016. Hardware segment dominated the video surveillance market because hardware includes the major part like camera, monitors and storage solutions.        

Geographically, North America is the largest region in global video surveillance market with 40% market share in 2016. U.S. holds the largest number of share in the North American region due to vast adoption of analog surveillance system in North America.

Asia pacific is also a leading region in global video surveillance market.  Increasing number of crime rates in Asia Pacific have led to the adoption of several advanced technologies and securities to protect economy and infrastructure of the societies from criminal activities. However, the video surveillance market is expected to rise rapidly in coming 4–5 years.

Growth drivers and constraints

With the increasing number of crime rates, augmenting security concern in the entire region, technological advancement, also the shift from analog system to IP camera in upcoming 4 to 5 years, factors such as IoT opportunity and growing urban populations are propelling the growth of video surveillance market and are thus working as growth drivers for global video surveillance market.

There are also some of the factors that restrict the growth areas and are curtailing the growth of video surveillance market such as:  lack of technological awareness among consumers, High initial cost etc.  Sometimes a lack of security programs  can also hamper the growth of market.

Key players:

· Axis Communications AB

• • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis
• Bosch Security Systems Inc.
•  Zhejiang Dahua Technology Co., Ltd.
•  Hangzhou Hikvision Digital Technology Co., Ltd.
•  FLIR Systems Inc
•  Honeywell Security Group
• Avigilon Corporation
•  Pelco by Schneider Electric
•  Panasonic System Networks Co., Ltd.
• Hanwha Techwin Co., Ltd.
• Samsung Techwin Co., Ltd.
•  NICE System Ltd.
• Infinova Corporation

Opportunities

Opportunities of video surveillance markets is to synchronize with the highest level of technology such as using of wireless technology in place of wired technology will help the market to expand. Secondly, launching more advanced apps and services for the customers to keep tracks on the security of their homes and families from anywhere at any time

Scope Background

Market Synopsis

Market Segmentation

Global video surveillance market is segmented as follows:

• By system basis (Market Size, Demand Analysis and Growth Analysis)
• By solution basis (Market Size, Demand Analysis and Growth Analysis)
• By verticals (Market Size, Demand Analysis and Growth Analysis)

Global video surveillance Market Report covered insights of below mentioned regions:

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors
• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks