Market Research

Video Surveillance Market Size to Reach $144.85 Billion by 2027, Growing at a CAGR of 14.6%

Jul 1, 2020 3:08 PM ET
iCrowd Newswire – Jul 1, 2020

The Global Video Surveillance Market is estimated to grow at a CAGR of 14.6% during the forecast period 2020-2027. As per the detailed market study, the global marketplace is anticipated to reach $144.85 billion by the end of the year 2027. The video surveillance industry is dominated by IP surveillance type segment in the year 2019 with majority of market share in terms of market revenue. The segmentation dominance is attributed to the properties of IP surveillance cameras such as easy installation, fast data transmission in less bandwidth and smooth avoidance of interference.

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Pelco, Infinova, Axis Communication, Avigilon, Panasonic, FLIR, Dahua Technology, Honeywell Security Group, Bosch Security System and HKVISION, Ltd. are some major players included in the research study of the global video surveillance market.

The Global Video Surveillance Market is driven by various growth factors such as wide integration of Internet of Things with various equipment, surge in transition from analog surveillance to IP cameras and increase in demand for safety in high-risk areas. Whereas, lack of professional expertise in handling IP cameras and high investment cost required to install and maintain the video surveillance system hinders the market growth over the period. However, increase in smart city development offers lucrative market opportunities in the global marketplace over the forecast period.

Segmentation Overview of the Global Video Surveillance Market

The global video surveillance market is segmented on the basis of various categories to study the market in detail. The segmentation study of the video surveillance market has been conducted considering various market determinants and geographic dynamics. These market segments are further categorized into:

The System Type Segment of the Global Video Surveillance Market is Sub-Segmented into:

  • IP Surveillance
  • Analog Surveillance
  • Hybrid Surveillance

The Component Segment of the Global Video Surveillance Market is Sub-Segmented into:

  • Hardware
  • Monitor
  • Storage
  • Camera
  • Accessories
  • Software
    • Video Management Service
    • Video Analytics
  • Services

The Application Segment of the Global Video Surveillance Market is Sub-Segmented into:

  • Residential
  • Infrastructure
  • Commercial
  • Military & Defence
  • Others

The Enterprise Segment of the Global Video Surveillance Market is Sub-Segmented into:

  • Small Scale Enterprise
  • Medium Scale Enterprise
  • Large Scale Enterprise

The Customer Type Segment of the Global Video Surveillance Market is Sub-Segmented into:

Geographical Overview of the Global Video Surveillance Market

The Asia-Pacific video surveillance market is accounted for ~2/5th of the market share in the global marketplace in the year 2018 and is estimated to maintain the dominance over the forecast period. Also, the region is anticipated to grow at the highest growth rate over the forecast period. The APAC region is estimated to grow at a CAGR of 16.1% during the forecast period. The regional growth and dominance is attributed to increasing adoption of technologically advanced security systems.

Competitive Landscape of the Global Video Surveillance Market

The market players included in the video surveillance industry are adopting various competitive strategies to withhold the majority of the market share in the global marketplace. Product advancement, mergers and acquisitions, partnership, collaboration and business expansion are some strategical developments adopted by market players to acquire majority of the market share.

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Keywords:    Video Surveillance Market