Video surveillance has been a major contributor in the transformation of the dynamics of the physical security industry, owing to the ongoing innovations and development in the video surveillance technology. Video surveillance has become an indispensable tool for ensuring public and personal security, and critical infrastructure, highways, banking, and financial institutions have become promising beneficiaries of video surveillance system. The market is witnessing a paradigm shift from the analog based surveillance systems to the IP based systems. IP based systems have opened a pool of opportunities for a host of industries, ranging from cloud storage solution to service providers and storage vendors to megapixel and HD camera vendors.
Intelligent video surveillance systems are gaining popularity in the market, especially in retail outlets and public areas, owing to the video analytics and video management software (VMS). The global video surveillance market is driving towards growth owing to factors such as increase in the demand for new technology equipment, such as wireless camera, intelligent transportation system, and growing utilization of video content analytics among others. The highest growth in the market will be registered by the Video Surveillance as a Service market, growing at a CAGR of 31.01% from 2016 to 2022.
Besides the growth factors, the players in the video surveillance market will have to overcome the challenge of wider acceptance of video surveillance technology across different industry verticals. Among the application verticals in the video surveillance systems, infrastructure holds the major share, due to the large scale investment by the government in various projects such as safe city and city surveillance, etc. Infrastructure is followed by commercial application in terms of revenue generation. The utilization of video surveillance software for business intelligence is the primary reason behind the proliferated market growth. Furthermore, various smart city projects across different countries are one of the biggest prospects for the implementation of video surveillance in the coming years. Influenced by this, other applications segment is anticipated to grow at the fastest CAGR of 26.89% from 2016 to 2022.
North America dominates the global video surveillance market, closely followed by Asia-Pacific. The primary factors for the dominance of North America are the revenue generation from the sales of IP camera and, video surveillance software and services. Emerging markets, such as India, are developing rapidly, and the low-cost equipment are also enabling the highest growth in the Asia-Pacific region in the coming years. The overall Video Surveillance ecosystem, in India, accounted for approximately $1.5 Billion in 2014. Keeping in mind the future adoption plans, the video surveillance market value, in India, is expected to grow at 22.96% CAGR from 2015 to 2022. Moreover, the increasing demands of intelligent video surveillance systems from government organizations and retail sectors are expected to increase the revenue generation from the rest of the world, which will grow at a double digit CAGR from 2016 to 2022.
The global video surveillance market has shown a significant growth in the past couple of years, owing to the heightened level of security concerns and increasing adoption of such systems. This growth can be highly attributed to the rising security demands for public safety and also in the commercial sector for business intelligence. BIS Research has conducted an extensive market research on ‘Global Video Surveillance Market Analysis: Focus on Equipment, Software, and Services – Estimation & Forecast, 2016-2022’. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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