Key Questions Answered in this Report:
- What is the global video surveillance market size in terms of revenue from 2019-2025?
- Which video surveillance category is dominant during the forecast period?
- What is the revenue generated by the different applications, ecosystem categories, and camera types of video surveillance market?
- What are the trends in the global video surveillance market across different regions?
- What are the major driving forces that tend to increase the demand for video surveillance during the forecast period 2020-2025?
- What are the major challenges inhibiting the growth of the global video surveillance market?
- What are the major technological advancements that drive the global video surveillance market growth?
- What was the total revenue generated by the global video surveillance market across different regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) in 2019, and what are the estimates by 2025?
- Who are the key players in the global video surveillance market, and what are the new strategies adopted by them to make a mark in the industry?
- What major opportunities do the video surveillance companies foresee in the next five years (2020-2025)?
- What is the competitive strength of the key leading players in the video surveillance market?
Global Video Surveillance Market Forecast, 2020-2025
The video surveillance industry analysis by BIS Research projects the market to grow at a significant CAGR of 10.06% on the basis of value during the forecast period from 2020 to 2025. Asia-Pacific region dominated the global video surveillance with a share of 58.12% in 2019.
The constantly expanding infrastructure in China and India has been a significant driver in promoting the growth of video surveillance in these countries. The decline in the costs of the overall CCTV-based security system packages due to the reduction in the prices of video cameras has hiked the price competitiveness of these surveillance systems, especially in the Chinese, Indian, and South Korean markets. The on-going COVID-19 pandemic, rising crime rate, terrorism, threats from illegal intruders in the countries, and the consequent increasing security needs are some of the other factors driving the growth of the video surveillance market in Asia-Pacific region.
The global video surveillance has gained widespread importance owing to increasing conflicts, political instability, and terrorism activities, coupled with increasing border instability which in turn forces countries to strengthen their military capabilities. Further, COVID-19, a highly contagious disease has caused high fatality to human lives in countries such as the U.S., China, Japan, Italy, Spain, and South Korea. Thus, many companies are continuously supplying surveillance products, including CCTV cameras and thermal cameras, to hardest-hit countries in order to keep a track on the lockdown situation. In January 2020, Zhejiang Dahua Technology Co., Ltd. deployed many thermal cameras to various cities of China, including banks, commercial complexes, and transportation. This equipment was also supplied to other Asian countries.
The absence of large bandwidth, storage network connection, and threat to data integrity are some of the factors that are restraining the market growth.
Scope of the Global Video Surveillance Market
The video surveillance market research provides detailed market information for segmentation on the basis of ecosystems, applications, and regions. The purpose of this market analysis is to examine the video surveillance outlook in terms of factors driving the market, trends, technological developments, and market share, among others.
The report further takes into consideration the market dynamics and the competitive landscape, along with the detailed financial and product contribution of the key players operating in the market.
Global Video Surveillance Market Segmentation
The storage segment dominated the global video surveillance in 2019 owing to the increasing employment of the surveillance systems in homes, small buildings, retail stores, and other similar places. Further, the falling prices of the hard disk drives have also contributed to the growth of the storage system in the video surveillance market.
While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the industry that is analyzed. The report also analyzes various applications that include infrastructure, commercial, residential, industrial, institutional, and others.
The video surveillance is segregated on the basis of five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Data for each of these regions (by country) has also been provided in the report.
Key Companies in the Global Video Surveillance Industry
The key market players in the global video surveillance market include Avigilon Corporation, Axis Communications AB, Canon Inc., Cisco Systems Inc., Dahua Technology Co. Ltd., FLIR Systems Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Huawei Technologies Co., Ltd., Panasonic Corporation, Sony Corporation, and Verint Systems Inc., Bosch Security Systems, Hanwha Techwin Co. Ltd., Honeywell Security, Pelco, and The Infinova Group, among others.