Global Video Surveillance Market by Offerings (Software, Hardware, Installation & Maintenance Services, and Video Surveillance-as-a-Service), Systems (IP Video Surveillance Systems and Analog Video Surveillance Systems), Verticals (Commercial, Military & Defence, Infrastructure, Public Facility, Residential, and Industrial), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts,2021-2028

The global video surveillance market is anticipated to expand at substantial CAGR during the forecast period, between 2021 and 2028. Video surveillance is a system that uses television system and receivers. The signals are transmitted by cables or telephone links from a television camera to receivers. It is a digitized system, commonly used for facility protection, traffic monitoring, vandalism deterrence, and remote video monitoring. Moreover, it is used for real-time monitoring and the information collected from the camera can be used to identify and plan security measures. Video surveillance systems can work in any environment and extract videos and images which can be stored and monitored later. Recent technological advancements such as high-definition cameras with facial recognition technology provide more accurate and credible information.

Market Trends, Drivers, Restraints, and Opportunities:

• Increasing theft and vandalism across the world and the growing concern for security is fueling the market.
• Rising investment by government for safety of people in public places and reduction in cost for various cloud storage solutions is expected to drive the demand for video surveillance market.
• Increasing concerns among people regarding privacy and leakage or misuse of the data has resulted in introduction of stricter laws regarding privacy protection. These factors limit the market growth.
• Growing demand for thermal cameras for body temperature screening and mask detection algorithm is anticipated to provide lucrative opportunities for market players during the forecast period.

Scope of the report:

The report on video surveillance market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Video Surveillance Market Segment Insights:

The hardware segment is projected to grow during the forecast period

In the terms of offerings, the video surveillance market can be fragmented into software, hardware, installation & maintenance services, and video surveillance-as-a-service. The hardware segment is expected to hold a substantial share during the forecast period. Increasing uses of cameras due to rising security concerns across the world, and hardware-based innovations in terms of performance and object tracking are driving this segment.

The IP video surveillance systems to hold a key market share 

Based on systems, the video surveillance market can be bifurcated into IP video surveillance systems and analog video surveillance systems. The IP video surveillance systems segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period.  In comparison to analog cameras, IP cameras have better capabilities such as digital processing within the camera, motion detection. Moreover, IP cameras contain hardware components for encoding/decoding and cyber security.

The Commercial vertical segment accounted for the highest share in 2020

On the basis of verticals, the market can be segregated into commercial, military & defence, infrastructure, public facility, residential, and industrial. The commercial segment accounted for the major share of the video surveillance market in 2020 and is expected to grow at a substantial CAGR during the forecast period. Commercial video surveillance systems are becoming increasingly popular due to increasing security concerns across applications, such as retail, enterprises, banks, and financial institutions.

Asia Pacific dominates the global market

In terms of regions, the global video surveillance market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific constituted a significant share of the market in 2020 due to growing population in major cities and development of smart cities. Moreover, increasing population in China and India has increased the demand for reliable video surveillance solutions. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period due to decreasing costs of video surveillance solutions and rising investment by the government.

Segments

Segments Covered in the Report
Offerings

• Software
• Hardware
• Installation & Maintenance Services
• Video Surveillance-as-a-Service

Systems

• IP Video Surveillance Systems
• Analog Video Surveillance Systems

Verticals

• Commercial
• Military & Defence
• Infrastructure
• Public Facility
• Residential
• Industrial

Regions

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East & Africa

Key Players

• Dahua Technology Co., Ltd.
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Axis Communications
• Teledyne FLIR;
• Bosch Security and Safety Systems
• Hanwha Techwin America
• Avigilon Corporation
• Honeywell International Inc.
• Pelco
• The Infinova Group

Competitive Landscape

Key players in the global video surveillance market et include Dahua Technology Co., Ltd.; Hangzhou Hikvision Digital Technology Co., Ltd.; Axis Communications; Teledyne FLIR; Bosch Security and Safety Systems; Hanwha Techwin America; Avigilon Corporation; Honeywell International Inc.; Pelco; and The Infinova Group. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.