HOME › Press Releases › Video Surveillance Market worth 71.28 Billion USD by 2022
Video Surveillance Market worth 71.28 Billion USD by 2022
According to the new market research report on "Video Surveillance Market, by System (Analog, IP), Component (Camera, Monitor, Server, Storage Device, Software), Service (VSaaS, Maintenance), Application (Infrastructure, Commercial, Institutional, Defense, residential), and Geography - Global Forecast to 2022", is expected to be worth USD 71.28 Billion by 2022, at an estimated CAGR of 16.56%.
Browse 81 tables and 60 figures spread through 192 Pages and in-depth TOC on "Video Surveillance Market - Global Forecast to 2022"
Early buyers will receive 10% customization on reports.
Software component and service segment is expected to lead the video surveillance market
The market for the service segment is expected to grow at the highest CAGR between 2016 and 2022. Cloud services and video surveillance as a service (VSaaS) play an important role in the video surveillance system. Software components include video analytics and video management software. Also, the use of neural networks and algorithms in the biometric surveillance system is a part of software component. The advancement in software technologies and networking services would lead the video surveillance market.
Commercial sector is expected to grow at the highest CAGR between 2016 and 2022
The market for the commercial sector is expected to grow at the highest CAGR between 2016 and 2022. The high demand for security systems in large and small retail businesses is increasing to reduce robbery and inventory loss. In the commercial sector, financial institutions and banks highly recommend video surveillance systems to provide security to the buildings, maintain cash management, and monitor customers and staff activities. This enhances security parameters and drives the surveillance system market for the commercial sector.
APAC is expected to hold the highest market share and grow at a high CAGR during forecast period
The video surveillance market in APAC is expected to grow at the highest CAGR among its peers between 2016 and 2022. The reason for this growth is adoption of new technologies (cloud services and other analytics technologies) and security systems to protect its economy and infrastructure through criminal activities and terror attacks. Thus, reduction in IP cameras prices and the presence of big players are the factors which would drive the video surveillance system market in this region.
The key players in the ecosystem of the video surveillance market profiled in this report are Axis Communications AB (Sweden), Bosch Security Systems (U.S.), Zhejiang Dahua Technology Co., Ltd. (China), Hangzhou Hikvision Digital Technology Co., Ltd. (China), FLIR Systems Inc. (U.S.), Honeywell Security Group (U.S.), Avigilon Corporation (Canada), PELCO by Schneider Electric (U.S.), Panasonic System Networks Co., Ltd. (Japan), Samsung Techwin Co., Ltd. (South Korea), Nice Systems, Limited (Israel), and Infinova Corporation (U.S.).
This research report categorizes the global video surveillance system market based on component and service, system, application, and region. This report describes the drivers, restraints, opportunities, and challenges with respect to the video surveillance system market. The Porter’s five forces analysis has been included in the report with a description of each of its forces and their respective impact on the video surveillance system market.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India