According to
a new market report published by Lucintel, the future of the global video
surveillance market looks promising with opportunities in the commercial,
government, transportation, and residential sector. The global video
surveillance market is expected to reach an estimated $39.3 billion by 2023 and
it is forecast to grow at a CAGR of 9.3% from 2018 to 2023. The major growth
drivers for this market are increasing awareness for safety and security, increasing
crime rate, and growing adaptation of internet protocol (IP) cameras.
In this
market, analog, IP, and biometric system based video surveillance systems types
are used for safety and security in the various end use industries. Lucintel
forecasts that IP surveillance system is expected to remain the largest system
type, and is also expected to witness highest growth due to growing development
of smart city and smart home applications. Additionally,
technological innovations, real-time access, integration of wireless
technologies, video analytics, and affordability are the factors driving the
growth of the IP camera market.
Within the
video surveillance market, the commercial segment is expected to remain the
largest end use market, and witness the highest growth over the forecast period
due to increasing demand in hotels, banks, and retail enterprises. Expansion of
financial institution coupled with increasing need for building security and
monitoring customer and staff activities further spurred the growth for video
surveillance.
Asia Pacific
is expected to remain the largest market, and is also expected to witness the
highest growth over the forecast period due to the increasing number of hotels,
banking & financial institutions along with small and medium enterprise
growth in China, India and other
emerging nations.
Emerging
trends, which have a direct impact on the dynamics of the industry, include advanced
360-degree camera technology, utilization
of Vizsafe platform services, and
enhanced camera capabilities for Video
Management Systems. Hangzhou
Hikvision Digital Technology Co., Ltd., Zhejiang Dahua Technology Co., Ltd,
Bosch Security Systems, Honeywell International Inc., and Axis Communication
among others are the major video surveillance providers.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed the global video surveillance market by product and
services , system, end use industry, and region and has come up with a
comprehensive research report entitled “Growth
Opportunities in the Global Video Surveillance Market 2018-2023: Trends,
Forecast, and Opportunity Analysis.” The Lucintel report serves as
a catalyst for growth strategy as it provides a comprehensive data and analysis
on trends, key drivers, and directions. The study includes a forecast for the
global video surveillance market by product and services, system, end use
industry, and region as follows:
By System Type [$M shipment analysis from 2012 to 2023]:
- Analog
- IP
- Others
By Product and Services Type [$M shipment
analysis from 2012 to 2023]:
- Hardware
-
Camera
-
Storage
-
Encoder
-
Others
- Software
- Services
By End Use
Industry [$M shipment analysis from 2012 to 2023]:
·
Commercial
-
Hotel
-
Banking & Finance
-
Retail
-
Others
·
Residential
·
Transportation
·
Government
·
Others
By Region [$M
shipment analysis for 2012 – 2023]:
·
North America
-
United States
-
Canada
-
Mexico
·
Europe
-
United Kingdom
-
Germany
-
France
·
Asia Pacific
-
Japan
-
China
-
South Korea
-
India
·
The Rest of the World
This
195-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Telecommunication
Report, Telecommunication
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Matrix.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1 What are
some of the most promising, high-growth opportunities for the global video
surveillance market by system (analog, IP, and others), product and services (hardware,
software, and service), by end use industry (commercial, residential,
transportation, government, and others), and by region (North America, Europe,
Asia Pacific, and the Rest of the World)?
Q. 2 Which
segments will grow at a faster pace and why?
Q.3 Which
regions will grow at a faster pace and why?
Q.4 What are
the key factors affecting market dynamics? What are the drivers and challenges
of the market?
Q.5 What are
the business risks and threats to the market?
Q.6 What are
the emerging trends in this market and reasons behind them?
Q.7 What are
some changing demands of customers in the market?
Q.8 What are
the new developments in the market? Which companies are leading these
developments?
Q.9 Who are
the major players in this market? What strategic initiatives are being
implemented by key players for business growth?
Q.10 What are
some of the competitive products and processes in this area and how big of a
threat do they pose for loss of market share via product substitution?
Q.11 What
M&A activity has occurred in the last 5 years?
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