AI and Analytics to Transform Mobile Video Surveillance Market

Posted April 28, 2023 by avinashgogawale14

The Mobile Video Surveillance Market is anticipated to increase from USD 2.4 billion in 2022 to USD 3.6 billion by 2027, growing at a CAGR of 8.7%
The demand for real-time remote monitoring on moving cars, technical developments, and rising security concerns are just a few of the reasons driving the growth of the mobile video surveillance market over the forecast period. The Mobile Video Surveillance Market is anticipated to increase from USD 2.4 billion in 2022 to USD 3.6 billion by 2027, expanding at a CAGR of 8.7%. This growth is anticipated to be fueled by the expanding use of mobile video surveillance in numerous applications, including drones, police cars, and various types of transportation. The mobile video surveillance market is predicted to expand as a result of the integration of AI capabilities and rising camera resolution.

Major vendors in the Mobile Video Surveillance Market include Hikvision (China), Dahua Technology (China), Axis Communications (Sweden), Bosch Security and Safety Systems (Germany), Hanwha Techwin (South Korea), Avigilon (Canada), Teledyne FLIR (US), Briefcam (US), Pelco (US), Uniview (China), Agent Video Intelligence (US), CP PLUS (India), Genetec (Canada), Huawei Technologies (China), Seon Design (Canada), Pro-Vigil (US), Strongwatch (US), Rosco Vision (US), VIVOTEK (Taiwan), MOBOTIX (Germany), Wireless CCTV (US), Strops Technology (Latvia), DTI Group (Australia), and Ivideon (US).

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Rise in use of software analytics and AI in mobile video monitoring

In the mobile video surveillance business, the usage of software analytics and artificial intelligence (AI) is expanding. For the goal of identifying trends and patterns as well as for security and safety, intelligent mobile video surveillance systems are becoming more and more important. AI-based video analytics can identify people, cars, objects, and events by analysing the audio and video that video cameras have captured. In applications involving mobile transportation, this technology is especially helpful. For instance, real-time surveillance, population counting, and automatic licence plate recognition are all operations that law enforcement organisations can carry out using AI-based video analytics. AI-based video analytics can give firms non-security-related insights in addition to security-related ones. In order to remotely monitor their industrial sites, users with different business locations are requesting real-time and remote access to surveillance data. Mobile cameras with analytics can be used in law enforcement to identify suspect vehicles using licence plate recognition, allowing for immediate action.

Storage device segment to account for the highest CAGR during the forecast period for the Video Surveillance Hardware Market

During the forecast period, the market for video surveillance hardware is expected to expand significantly, with storage devices expected to have the highest CAGR. Since surveillance camera prices have decreased, more people are using them, which has increased the demand for storage options. Storage needs have increased due to the rising use of IP cameras, which capture videos at greater resolutions and frame rates and occasionally also record sound. Throughout the forecast period, these factors are anticipated to support the expansion of the storage devices market subsegment in the market for video surveillance hardware.

Market for IP Video Surveillance Cameras to grow at higher CAGR during the forecast period.

During the forecast period, the market for IP video surveillance cameras is anticipated to expand at a faster CAGR. These cameras have an advantage over conventional analogue ones in that they can record high-definition video at faster frame rates. Greater flexibility is provided by the interconnection and expandability of IP cameras, which also make it simple to wirelessly link them to an NVR. Additionally, IP cameras allow for remote access, enabling computer and mobile device monitoring of them from any location in the world. Due to their sophisticated features and digital recording capabilities, IP-based camera systems are being adopted at a rapid rate.

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Market for Military & Defense Vertical to register the highest CAGR for Video Surveillance Market.

The market for video surveillance is anticipated to grow at the fastest rate in the military and defence sector. Drones are perfect for a variety of military activities due to their adaptability, tactical capability, ease of deployment, and C4ISR system integration. Border security, search and rescue operations, and perimeter protection surrounding military base camps and embassies are other common uses for mobile video surveillance. The necessity for sophisticated situational awareness and threat detection skills is what is driving the demand for video surveillance systems in the military and defence industry.

Market in APAC estimated to grow at the highest CAGR during the forecast period.

The Asia Pacific (APAC) region is predicted to experience the greatest compound annual growth rate (CAGR) for the mobile video surveillance market during the projected period. Because of the region's early embrace of new technologies like cameras, wireless connectivity, and integrated analytics, mobile video surveillance systems are becoming more popular. Some of the reasons influencing the growth of the market in APAC include government initiatives to make cities safer, increased spending on security equipment, and the availability of affordable mobile video surveillance systems by local manufacturers. The region's market is expanding as a result of the strong demand for IP systems in the transportation, law enforcement, and military & defence sectors.

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Last Updated April 28, 2023