Global Video Surveillance System Market 2019-2024: Increasing Need for Physical Security, Coupled with the Use of Cloud-Based Services for Centralized Data
DUBLIN, June 21, 2019 /PRNewswire/ - The "Video Surveillance System Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
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The global video surveillance system market was valued at USD 40.37 billion in 2018, and is expected to reach a value of USD 95.98 billion by 2024, recording a CAGR of 15.53% over the forecast period 2019-2024
The use of video surveillance in business is growing significantly, owing to the increasing need for physical security, coupled with the use of cloud-based services for centralized data.
-- Video surveillance is majorly adopted in manufacturing, banking &
financial services, and transportation and retail industries. This
incorporation is higher in countries, such as the United States, the
United Kingdom, China, and Brazil, owing to the large size of the
concerned industries and higher awareness among consumers.
-- Globally, the drive to enhance the safety and security across different
industries is adding to the market growth, significantly. With rapid
developments in cloud computing and video surveillance software, the
surveillance market has transformed, in comparison to the previous
decade.
-- VSaaS has been increasing over the recent years, owing to the market
penetration of IP camera sales. Significant factors, such as IT cost
containment by major IT organizations, the emergence of data centers,
and improving functionalities associated with centralized data, are
aiding the VSaaS segment.
-- The growth of the video surveillance market is expected to be fueled by
the introduction of new IP-based digital technologies, to detect and
prevent undesirable behaviors, such as shoplifting, thefts, vandalism,
and terror attacks.
Scope of the Report
Video surveillance systems are a group of one or more video cameras on a network that sends the information of the captured video or audio over to a certain place. This information or the captured images are live monitored or sent a central location for storage and recording. This report segments the market based on type, end-user industry and geography.
Key Market Trends
Commercial sector is Expected to Hold the Largest Market Share in the Forecast Period
-- In the recent years, the demand for video surveillance in the commercial
segment has increased substantially. The various end users in this
segment include - banking & financial, retail or wholesale, and media &
entertainment industries.
-- In banks and financial institutions, the increasing number of thefts and
fraudulent transactions, in addition to stringent regulatory environment
are expected to bolster the deployment of video surveillance systems.
-- For instance BS/2, a Lithuanian banking technology company and
VisionLabs, announced a strategic partnership for contactless
identification that would help the companies to greatly increase
security and would ward off the risks associated with the fraudulent or
unlawful activities while operating self-service terminals thereby
making ATMeye.iQ full-scale self-service video surveillance and fraud
prevention system and LUNA face recognition platform the foundation for
the introduced services.
-- In the retail sector, video surveillance is deployed to prevent
shoplifting. They are also used to keep a tab on the shop-floor
activities, such as, the movements of employees, customers, goods, etc.
-- The video surveillance systems can also be used to track consumer
behavior at a store regarding a particular segment in a retail store.
For instance, in a branch of KFC in Beijing, a computer through camera
scans their faces decides on what people will eat by placing orders
according to age, gender, and mood.
North America is Expected to Showcase Significant Market Growth
-- In the United States, after the 9/11 terror attacks, there has been a
significant rise in the demand for effective security and Surveillance
System. Recently, Memphis Police Department (MPD) has teamed up with
Hangzhou Hikvision Digital Technology, a supplier of innovative video
surveillance products, to deploy holistic security solutions to ensure
safety of the residents of Memphis.
-- Stadium operators are using advanced network surveillance System to
monitor every corner of the stadium. The famous "Little League World
Series" had tied up with Axis communications for implementing effective
video surveillance solutions.
-- The integration of the video surveillance solutions in the
transportation industry is one of the major trends observed in this
region.
-- To enhance security for the Chicago public transportation System, the
second largest city in the United States with 1.7 million daily traffic,
the government relied on Sentry360 to establish a unified surveillance
System.
Competitive Landscape
The competitive rivalry in the video surveillance market is high due to the presence of many key players constantly upgrading themselves in order to gain a competitive advantage over other players. The video surveillance market is currently dominated by major players like Honeywell, Bosch, Samsung, Schneider Electric, Panasonic and many more.
-- January 2019 - Axis launched new vulnerability Notification Email
Services, that can be subscribed by customers to identify critical
vulnerabilities in Axis surveillance products.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Value Chain / Supply Chain Analysis
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.4 Introduction to Market Drivers and Restraints
4.5 Market Drivers
4.5.1 Augmented Demand of IP Cameras
4.5.2 Emergence Of Video Surveillance-as-a-Service (VSAAS)
4.5.3 Increasing Demand For Video Analytics
4.6 Market Restraints
4.6.1 Privacy and Security Issues
4.6.2 Need for High-capacity Storage for High-resolution Images
4.6.3 Government Intervention for Preventing Institutional Wrong Doings
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Software
5.1.2 Hardware
5.1.3 Services
5.2 By End-user Industry
5.2.1 Commercial
5.2.2 Infrastructure
5.2.3 Institutional
5.2.4 Industrial
5.2.5 Defense
5.2.6 Residential
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Axis Communications AB
6.1.2 Bosch Security Systems Incorporated
6.1.3 Honeywell Security Group
6.1.4 Samsung Group
6.1.5 Panasonic Corporation
6.1.6 FLIR systems Inc.
6.1.7 Schneider Electric
6.1.8 NICE Limited
6.1.9 Infinova Corporation
6.1.10 Zhejiang Dahua Technology Company Limited
6.1.11 Hangzhou Hikvision Digital Technology Company Limited
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/nomdwq
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