November 23, 2018: Adroit Market Research published a report on the “Global Video Surveillance Market Size 2017 By System type (Analog based, IP Based), By Type (Hardware, Software, Services), By Vertical (Law enforcement, Military & defense, Commercial & Industrial, Educational institutes, Transportation & Logistics, Residential, BFSI, Others), By Region and Forecast 2018 to 2025”. The study covers the global video surveillance systems market value and volume for a period ranging from 2012 to 2025. The global video surveillance market report discusses in detail the factors driving and restraining the growth. The report divulges into a detailed value chain and PEST analysis to provide a holistic view of the market. Additionally, we have provided information about the global video surveillance market leaders.
The global video surveillance market size is likely to portray a significant growth, expanding at a double digit CAGR over the years ahead. The market value is anticipated to cross the US$ 100 billion mark, by the end of 2025. Widespread adoption of security equipment in commercial and residential buildings is one of the major supporting factor for the growth of video surveillance market.
Video surveillance systems are now an essential part across several industry verticals. These industries utilize various hardware and software products to monitor and detect suspicious activities. They are also used for the purpose of maintaining law and order in the society. Changing lifestyle and increasing awareness for home security has propelled the demand for video surveillance systems especially in the residential sector. However, exorbitant initial installation costs and further maintenance is expected to inhibit the growth of video surveillance market over the forecast period.
The IP-based video surveillance systems are highly replacing analog based, owing to their key features such as advanced processing capability, technologically advanced product components, and ease of installation. Furthermore, evolution of high-definition surveillance cameras/home security cameras and software has drastically changed the landscape of video surveillance market, which has opened vast business opportunities for the IP based video surveillance systems. In addition to this, rising adoption of cloud based services, better video compression capabilities, integration with data analytics, etc., are some of the constantly developing trends that are expected to boost the future growth of the IP based segment in video surveillance market.
The hardware segment is anticipated to maintain its dominance among the next major component segments such as software and services. However, the software and services segments are anticipated to gain a noteworthy market share by 2025, due to an increase in demand for advanced security systems especially in North America and Europe. Incorporation of small sized cameras with unaltered performance is the latest trend witnessed in the hardware sector of video surveillance market. Additionally, integration with other interfaces and capability of providing surveillance even at remote locations are some of the add-on features in camera components.
Asia Pacific is projected to have the largest share in the global video surveillance market by 2025, owing to growth in industrial activities and high demand for surveillance systems in the residential sector. China alone is estimated to have a lion’s share in Asia Pacific as well as the global video surveillance market, owing to high market penetration across most of the verticals and large presence of local players. As the facial recognition technology has advanced further, China has been keen on using this technology to monitor suspicious activities. For instance, In March 2018, Chinese giant Hikvision announced to open the access of its proprietary AI (Artificial Intelligence) technology, specifically AI cloud.
The global video surveillance market has a fragmented nature, with the presence of numerous global as well as Chinese local players. Bosch Security Systems Incorporation, Axis Communications AB, Avigilon Corporation, Hangzhou Hikvision Digital Technology Company Limited, Honeywell Security Group, and Flir Systems Incorporation are some of the video surveillance market players.
Technological advancement over the recent years has propelled the global video surveillance market to be highly competitive. The major video surveillance market players are focusing on product development in order to sustain the increasing competition and to support the growing consumer demand. For instance, in April 2018, Avigilon Corporation introduced a new video intercom secured entry system that combines the use of video and bi-directional audio devices along with the Control Center video management software for 24/7 entry control. This is expected to benefit the company in strengthening its product portfolio over the years ahead.
Key segments of the global video surveillance market
System type overview, 2014-2025 (USD Million)
- Analog Based
- IP Based
Component Overview, 2014-2025 (USD Million)
- Camera (Thousand Units) (USD Million)
- By type (Analog, IP)
- By resolution ( SD,HD, 4K)
- Storage media (Thousand Units) (USD Million)
- By type( DVR, NVR)
Vertical Overview, 2014-2025 (USD Million)
- Law Enforcement
- Military & Defense
- Commercial & industrial
- Educational institutes
- Transportation & logistics
Regional Overview, 2014-2025 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Middle East & Africa