Video Surveillance Market Trends, Growth and Opportunity 2020-2025


Posted November 23, 2020 by bisrsrch

Focus on Ecosystem, Application (Infrastructure, Commercial Residential, Industrial, Institutional, Others), and Region - Analysis and Forecast, 2020-2025
 
The global video surveillance industry is one of the most competitive industries, with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the video surveillance industry exhibits an inclination toward emerging strategies and developments by market players.

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The key players that are actively participating in the video surveillance market include Avigilon Corporation, Axis Communications AB, Canon Inc., Cisco Systems Inc., Dahua Technology Co. Ltd., FLIR Systems Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Huawei Technologies Co. Ltd., Panasonic Corporation, Sony Corporation, and Verint Systems Inc., Bosch Security Systems, Hanwha Techwin Co. Ltd., Honeywell Security, Pelco, and The Infinova Group. Amongst these companies, Hikvision has registered the highest overall revenue in the video surveillance industry in 2019.

The increase in the budget for procuring advanced video surveillance systems by various countries including the U.S., India, Russia, Israel, China, Singapore, South Korea, and among others, for procuring technically advanced video surveillance systems to track the individuals’ quarantine activity is playing a major role in strengthening the market growth. Implementation of various smart cities and megaprojects is not limited to the U.S. only but is also expanding in all corners of the world including China, Brazil, India, the Middle East countries, and other developing economies. Thus, the growing critical infrastructure, along with the requirement of upgrading the existing security structure, acts as a major driver for the video surveillance market.

Stringent regulations posed by various governments to install video surveillance systems in educational institutes is expected to propel the market growth. For instance, in June 2015, the U.S. government passed a law in Texas to mandate the deployment of video surveillance units in special education classrooms including all public schools and self-contained classrooms. Further, the U.S. higher educational institutes have also planned to propose body-warn cameras and other video surveillance units due to the growing campus shootings. For instance, in May 2020, Konica Minolta Business Solutions U.S.A., Inc. received a contract from the Ohio Council of Educational Purchasing Consortia (OCEPC) to provide MOBOTIX Intelligent Camera Solutions to higher education institutions, local government agencies, and other public entities of Ohio to ensure safety and security.

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With the video surveillance industry undergoing a paradigm shift, the use of Internet Protocol (IP) technology-based cameras using IoT has increased, resulting in transforming of the surveillance industry. The IP cameras allow the users to convert their local broadband connection into a home surveillance system.

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Issued By BIS RSRCH
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Categories Business , News , Technology
Tags video surveillance market
Last Updated November 23, 2020