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Global Video Surveillance System Market Share & Trends Analysis Report
Global Video Surveillance System Market Share & Trends Analysis Report
The GMI Research speculates that the Video Surveillance System Market will experience a growth in demand over the forecast period. This is mainly because of their aggravating endorsement across production, transportation, banking, and financial industry and growing security and safety and swift enhancement in cloud computing.
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Introduction of the Video Surveillance System Market:
A video surveillance system is a comprised system of monitors/display units, cameras, and recorders. In which the cameras are antilog or digital, along with a host of distinct design properties discussed momentarily. Further, the installation of this system helps to prevent crimes because of its visual control unit.
Key Market Players:
· Honeywell International Inc.
· The Infinova Group
· Axis Communications
· Bosch Security Systems, LLC
· Panasonic Corporation
· SAMSUNG
· FLIR Systems, Inc.
· Dahua Technology Co., Ltd.
· Schneider Electric SE
Video Surveillance System Market Dynamics
The augmenting implementation of video surveillance systems across enormous end-use industry verticals such as retail, transportation, and baking, and financial services is the prime factor responsible for the growth of the global video surveillance system market. Also, the leading nations, which include, Brazil, The United States of America, the United Kingdom, and China, account to be the largest consumer of these systems. Consumer video surveillance cameras are extensively used in mobile cameras and home safety systems. Besides this, the aggravating endorsement of smart camera systems, as well as the augmenting application of video analytics, has complemented the Video Surveillance System market size.
Furthermore, the increasing acquisition of this system, especially across the government sector, is paving the way for market growth. Additionally, the drastic surge experienced in the number of fraud, theft, violence, and terrorism is offering several opportunities for market growth. Retail stores, hospitals, schools, colleges, and transportation are some of the most common places where the system is deployed. Further, leading multinational giants are increasingly emphasizing on executing the video surveillance system in their offices throughout the nation. For example, Europe-based Infinite Wireless robustly implemented video surveillance systems across the ports of North-western Mexico in 2018. The key emphasis of the project was to lodge high-capacity base station sectors to feed data and video to a centralized control room. Moreover, as per the Video Surveillance System market report, the remarkable drift in the market has stimulated the requirement of the introduction of novel IP-based digital technologies that possess the potential to identify and prevent unaccepted behaviours such as theft, terror attacks, shoplifting, and others. Thus, the combination of all these factors together is expected to bolster the market growth.
Type Segment Drivers
According to the type, the software segment is contemplated to dominate the market and sustain its supremacy during the forecast period. The segment consists of video management and video analytics software. The augmenting technological enhancements and development concerned with artificial intelligence and deep learning have supplemented the need to launch new and innovative solutions to handle the security crisis, which is stimulating the demand for the software segment, thereby impelling the Video Surveillance System market's share.
Vertical Segment Drivers
Based on the vertical, the infrastructure segment is predicted to expand at a higher compound annual growth rate in the coming years. The infrastructure further inculcates utilities, city surveillance, transportation, and public places. Amongst which, the city surveillance segment is one of the most popular areas for the market. Besides this, as per the Video Surveillance System market report, the accelerating investment by various nations to enhance the safety levels in public places is further adding to the market growth. For instance, the smart cities market in China is predicted to reach USD 59.9 billion by the end of 2023. In addition to this, the Indian government is strategizing to fabricate nearly 100 smart cities across the nation, which includes Madhya Pradesh, Gujarat, and other states. This is another factor driving the market growth.
Regional Segment Drivers
Based on the regional coverage, the Asia-pacific region is projected to seize the largest share in the market over the coming years. The robust investment in smart city projects accounts to be the most prominent factor stimulating the market share. In addition to it, the amplification in a number of security and safety menaces, majorly across the emerging economies of China, India, and South Korea, has fuelled the market growth. Nonetheless, the growing seepage of new modernized technologies like automatic identification of number plates, retail management, facial recognition, and distant asset management are some features that are positively influencing the aggravating demand.
Video Surveillance System Market Segmentation:
Segmentation by Type
· Hardware
o Camera
o Analog
o IP Cameras
o Hybrid
o Storage
· Software
o Video Analytics
o Video Management Software
· Services (VSaaS)
Segmentation by Vertical
· Commercial
· Infrastructure
· Institutional
· Industrial
· Defense
· Residential
Segmentation by Region:
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· North America
o United States of America
o Canada
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
About GMI Research
The market research and consulting enterprise proffers business perception and market research reports for various industries, including small, medium enterprises as well as large companies. The research team of GMI organisation and industry experts carry out market intelligence studies to certify and ensure that all material and factual information passes to extensive range of sectors which include Technology, FMCG, Healthcare, and Energy. The expertise team accumulates all the required information about the industry applying internal as well as external databases. The prime concentration of our team is to acknowledge clients with all the prospective circumstances and difficulties faced by different industrial verticals. Also, our by fits and starts support through vital and consultative services assist clients grasp a directorial and legislative decision. The research organisation got spotlighted in the list of Silicon Magazine as one of the most foremost market.
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