Video Surveillance Market to Surpass 98.18 Billion by 2030 Drives Due to Surging Demand for Enhanced Security Solutions
SkyQuest projects that the video surveillance market will attain a value of USD 98.18 billion by 2030, with a CAGR of 9.3% over the forecast period (2023-2030). The global video surveillance market is on the cusp of notable growth, driven by a surging demand for enhanced security solutions and rapid technological advancements. As security concerns continue to escalate worldwide, there is a growing imperative for robust surveillance systems capable of providing real-time monitoring and threat detection.
Westford,USA, Jan. 04, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, the video surveillance market is poised for continued growth, propelled by the ever-increasing demand for robust security solutions and the relentless advancement of technology. As security concerns persist, organizations across various sectors recognize the need for more sophisticated surveillance systems offering enhanced monitoring capabilities and threat detection.
Browse in-depth TOC on the “Video Surveillance Market”
- Pages – 157
- Tables – 63
- Figures – 75
In addition to the growth in video surveillance technology, there’s a notable trend towards adopting cloud-based video surveillance solutions. These solutions offer the advantage of remote monitoring and management of video surveillance systems, providing flexibility and scalability to organizations in the video surveillance market.
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Prominent Players in Video Surveillance Market
- Hangzhou Hikvision Digital Technology Co. Ltd.
- Dahua Technology Co. Ltd.
- Bosch Security Systems Inc.
- Hanwha Techwin Co. Ltd.
- Axis Communications AB
- Honeywell International Inc.
- Panasonic Corporation
- Avigilon Corporation
- FLIR Systems Inc.
- Tyco International Ltd.
- Genetec Inc.
- March Networks Corporation
- Huawei Technologies Co. Ltd.
- Zhejiang Uniview Technologies Co. Ltd.
- CP Plus International
- Uniview Technologies Co. Ltd.
- Pelco Inc.
- VIVOTEK Inc.
- IDIS Co. Ltd.
- Agent Video Intelligence Ltd.
Hardware Segment is Expected to Dominate the Market Due to Offering Distinct Capabilities
Hardware segment in the video surveillance industry encompasses a range of surveillance cameras, each offering distinct capabilities. This hardware category includes analog, IP, and wireless cameras in the video surveillance market. Analog cameras, considered the traditional option, capture and transmit video signals through coaxial cables.
The market in North America is poised to undergo substantial growth in the video surveillance market in the forthcoming years, primarily driven by a mounting awareness of both external and internal security threats.
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Services Segment is Expected to Grow the Market Due to Ensure the Proper Set up of Video Surveillance Systems
Services segment within the video surveillance industry comprises essential offerings aimed at assisting customers in deploying and maintaining effective surveillance systems. Installation and maintenance services form a fundamental component of this segment, with vendors offering their expertise to ensure the proper setup and continued functionality of video surveillance market.
Regional markets in the Asia Pacific are poised to exert significant dominance in the global video surveillance market with China emerging as a major contributor. The Chinese government has taken proactive steps to encourage the widespread adoption of surveillance systems, showcasing notable initiatives such as the ‘Sharp Eyes’ project and the successful implementation of the ‘Skynet video surveillance program.
A comprehensive analysis of the major players in the video surveillance market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Video Surveillance Market
- Honeywell International Inc. recently made a significant stride in the video surveillance industry by introducing a cutting-edge solution that harnesses the power of artificial intelligence and deep learning algorithms. This innovative technology offers real-time analytics and insights, revolutionizing video surveillance capabilities. Incorporating AI and deep learning enhances the system’s ability to detect and respond to security threats promptly and efficiently, marking a significant advancement in the field.
- Dahua Technology Co. Ltd. recently unveiled a noteworthy product—an AI-powered thermal imaging camera designed to detect human body temperature with exceptional accuracy.
Key Questions Answered in Video SurveillanceMarket Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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