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| Press Release

Future of Video Surveillance Market Sales to Grow $144.85 Bn, Globally, by 2027 at 14.6% CAGR

Portland, July 15, 2020 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Video Surveillance Market by System Type (Analog Surveillance, IP Surveillance, and Hybrid Surveillance), Component (Hardware, Software, and Services), Application (Commercial, Military & Defense, Infrastructure, Residential, and Others), Enterprise Size (Small Enterprise, Medium Enterprise, and Large Enterprise) and Customer Type (B2B and B2C): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global video surveillance industry garnered $42.94 billion in 2019, and is estimated to reach $144.85 billion by 2027, growing at a CAGR of 14.6% from 2020 to 2027.

Prime determinants of growth

Increase in need for safety in risk-prone areas, transition from analog surveillance to IP cameras, and integration of IoT in surveillance cameras drive the global video surveillance market. However, high investments, scarcity of skilled professional in handling IP cameras, and surge in privacy concerns hinder the market growth. On the other hand, trend of smart cities development and rise in adoption toward spy and hidden cameras create new opportunities in the coming years.

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Covid-19 scenario

  • Countries such as China, India, Israel, Singapore, and others have been utilizing mass surveillance tools to track spread COVID-19 and quarantined patients.
  • Strict video surveillance at hotspots and containment zones with the help of drones and CCTV cameras will play an important role in maintaining law and order during lockdown.   
  • Many experts have questioned the privacy and security of data collected from various video surveillance tools.

The IP surveillance segment to maintain its lead position by 2027

Based on system type, the IP surveillance segment accounted for the largest market share in 2019, holding more than half of the global video surveillance market, and is estimated to maintain its lead position during the forecast period. This is attributed to surge in adoption of network cameras. However, the hybrid surveillance segment is estimated to maintain the highest CAGR of 17.5% from 2020 to 2027, owing to increase in hybrid recorder demand.

Detail Analysis on Key Vendors: https://www.alliedmarketresearch.com/connect-to-analyst/1090

The commercial segment to maintain its dominant share during the forecast period

Based on application, the commercial segment accounted for nearly one-fourth of the global video surveillance market in 2019, and is projected to maintain its dominant share during the forecast period. This is due to increase in demand for safety in commercial spaces. However, the infrastructure segment would grow at the fastest CAGR of 18.7% from 2020 to 2027, owing to emergence of remote monitoring.

Asia-Pacific to dominate, North America to follow

Based on region, Asia-Pacific accounted for nearly half of the global video surveillance market in 2019, and is estimated to maintain its dominant position by 2027. Moreover, this region is estimated to maintain the highest CAGR of 16.7% from 2020 to 2027. This is attributed to increase in security concerns, trend of smart city development, and urbanization in the countries such as India. However, North America contributed the second-highest market share in 2019, and will maintain its position by 2027.

Future Impact Analysis: https://www.alliedmarketresearch.com/request-for-customization/1090?reqfor=covid

Market players grabbing the largest pie

  • HKVISION, Ltd.
  • Bosch Security System
  • Honeywell Security Group
  • Dahua Technology
  • FLIR
  • Panasonic
  • Avigilon
  • Axis Communication
  • Infinova
  • Pelco

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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