“Mobile video surveillance market expected to grow at a CAGR of 8.77% between 2017 and 2023”
The mobile video surveillance market was valued at 1.40 billion in 2017 and is expected to reach USD 2.32 billion by 2023, at a CAGR of 8.77% between 2017 and 2023. The growth of this market can be attributed to the increasing concerns for public safety and security, growing adoption of IP cameras owing to a better functionality at a reduced cost, rising demand for cloud-based mobile video surveillance solutions, rising demand for intelligent and scalable surveillance solutions, and improving infrastructure and deployment capabilities. However, privacy issues regarding data usage is a restraing factor for the growth of the mobile video surveillance market.
“Mobile video surveillance market for hardware is expected to grow at a high rate during the forecast period“
The market for IP video surveillance is expected to grow at a high rate between 2017 and 2023. The availability of advanced cameras, such as panoramic and high-definition cameras, with composite interface solutions is driving this market ahead. Additionally, prices of IP cameras are declining from the past few years, which helped to fuel this market.
“Trains and trams held the largest share of the mobile video surveillance market in 2016”
The trains and trams application held the largest share of the mobile video surveillance market in 2016. Surveillance systems are used to avoid criminal activities, detect criminals, and provide a safe and secure environment to passengers in trains and trams. The increasing demand for surveillance cameras for mass transit systems, ports, and train stations drive the mobile video surveillance market growth.
“Mobile video surveillance market for transportation vertical expected to lead during the forecast period”
The transportation vertical is expected to grow at the largest share during the forecast period. Mobile video surveillance systems are used for monitoring terrorist, fraudulent and terrorist activities. These systems monitor passenger and vehicle flow constantly to prepare for any situation and spot threats to increase security and operational efficiency at airport terminals, train platforms, bus stops.
“Mobile video surveillance market in APAC to grow at a high rate during the forecast period”
The mobile video surveillance market in APAC is expected to grow at the highest CAGR between 2017 and 2023. The high adoption rate of new technology, presence of numerous market players, growth in security threats, and rise in government initiatives to defeat terrorism are some of the important factors that have contributed to the growth of the mobile video surveillance market in the APAC region.
Break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
- By Designation: C–Level Executives – 48%, Directors– 23%, Others – 29%
- By Region: North America – 42%, Europe – 31%, APAC – 21%, and RoW (the Middle East and Africa) – 6%
The major players operating in the mobile video surveillance market include Axis Communications (Sweden), Bosch Security Systems (Germany), Dahua (China), Hikvision (China), FLIR (U.S.), Avigilon (Canada), Pelco (U.S.), and Hanwha Techwin (Samsung Techwin) (South Korea).
The report defines, describes, segments, and forecasts the mobile video surveillance market on the basis of offering, application, vertical, and geography. It provides detailed information regarding the major factors influencing the growth of the video surveillance market (drivers, restraints, opportunities, and industry-specific challenges). It also analyzes competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, product launches carried out by the key players to grow in the market.
Reasons To Buy the report:
- The illustrative segmentation, analysis, and forecast pertaining to the mobile video surveillance market based on offering, application, vertical, and geography have been conducted to provide an overall view of the mobile video surveillance market.
- The major drivers, restraints, opportunities, and challenges for the mobile video surveillance market have been detailed in this report.
- The report includes a detailed competitive landscape, along with the key players in the market and their revenues.