IP video surveillance is defined as a combination of networked and digitized video surveillance monitoring or referred as a digitized and networked form of closed circuit television (CCTV). IP video surveillance is designed to provide access to the video content from any place at any given time. It enables to monitor the videos remotely by the physical security staff or law enforcement personnel. The rising criminal activities and increasing awareness regarding the benefits of IP systems and the technological advancement are the major factors fuelling the growth of IP video surveillance market.
An IP video surveillance system comprises three primary devices – IP camera, monitor, and a storage system. IP camera is an essential part of an IP video surveillance that is used for capturing videos. These cameras are attached to encoders and analog gateway network modules for sharing and routing the content on surveillance network. Video inputs, a video decoder, an audio codec, display & motion controllers, and video compression/decompression are the different parameters contributing to the final visual outcome of IP surveillance. IP cameras are capable of offering efficient network consumption and high-quality video.
IP video surveillance is used in a variety of applications. The end-user segment consists of various industry verticals such as banking and finance, government, manufacturing, healthcare, retail, and others. Features such as high definition video and high megapixel resolution are fuelling the demand for IP video surveillance system in various industrial verticals. Traffic and parking monitoring, public and vehicle safety, event security, and employee safety are some other applications of IP video surveillance.
Banking and finance sector is an early adopter of the IP video surveillance system. Security plays a prominent role in BFSI sector and requires a pro-active and well-integrated security system. IP surveillance systems benefit banking enterprises on a colossal scale through proactive security, centralized monitoring, and control along with cost saving on bandwidth and storage. IP video cameras are capable of preventing and targeting fraud, skimming and tracking crimes with high-quality video evidence and intelligent software tools.
Global IP Video Surveillance Market Analysis & Forecast, from 2017-2023
- To provide a detailed analysis of the market structure, along with the forecast of the various segments and sub-segments of the IP video surveillance market
- To provide insights into factors affecting the market growth
- To analyze the IP Video Surveillance market based on Porter’s five force analysis
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia Pacific, and Rest of the World
- To provide country-level analysis of the market with respect to the current market size and prospects
- To provide country-level analysis of the market for a segment on the basis of component and application.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments, such as joint ventures, strategic alliances, mergers & acquisitions, new product developments, and research & developments in the IP video surveillance market.
- The global IP video surveillance market is expected to reach USD 25.46 billion by 2023
- By component, hardware segment has dominated the market in 2016 and is estimated to grow with a rate of 11.4% CAGR
- By application, retail segment dominated the market in 2016 and is estimated to grow with a rate of 13.9% CAGR
- Geographically, North America region has been projected to hold the largest market share in global IP video surveillance market, followed by Europe and Asia Pacific, respectively.
The prominent players in the IP video surveillance market are Hangzhou Hikvision Digital Technology Co., Ltd (China), Microsemi Corporation (U.S.), Cisco System Inc. (U.S.), Netgear Inc. (U.S.), Bosch Security Systems Inc. (Germany), Panasonic System Networks Co., Ltd (Japan), Axis Communications AB (Sweden), Avigilon Corporation (Canada), D-Link (Taiwan), Genetec Inc. Tm. (Canada), The Infinova Group (U.S.), Geovision Inc. (Taiwan).
Regional Analysis of IP Video Surveillance Market Estimation and Forecast
The global IP video surveillance market is estimated to grow at a promising rate in the upcoming years. North America is expected to account for the largest market share, owing to increasing adoption of new technological solutions, increasing competition among IP camera vendors, increasing demand for security and increasing disposable income. However, Asia Pacific region is also expected to grow considerably over the forecast period, 2017-2023. The reason is attributed to technological developments, need for better picture quality and growing security concerns and demand for better monitoring devices.