LONDON, April 7, 2016 /PRNewswire/ --
"Video surveillance market to grow at CAGR of 16.56%"
The video surveillance market is expected to reach USD 71.28 billion by 2022, at an estimated CAGR of 16.56% between 2016 and 2022. The major reason for the growth in video surveillance is due to the increasing rate of security threats, criminal activities, thefts, and others. The advancements in video surveillance applications such as cloud services, network cameras, big data analytics, and other technologies have increased the scope of the video surveillance market for wider application in different sectors.
"IP video surveillance system holds the lions share"
An IP video surveillance system dominates the market since the price of high-image quality-based IP cameras prices reduce and use of IP cameras dominate analog cameras. Also, the implementation of video surveillance software with IP systems is easy and the portability of storage space for data storage increases its use in all sectors. These factors are likely to grow the video surveillance market for IP systems at a high CAGR.
"APAC expected to be the fastest-growing market"
This report covers the said market in regions including the North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market in APAC is expected to grow at the highest CAGR between 2016 and 2022. The high adoption rates of new technology, large number of market players, and growing security threats are some of the important factors that have contributed to the growth of the video surveillance market in the APAC region.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 - 25%, Tier 2 - 50%, and Tier 3 - 25%
- By Designation: C-Level - 35%, Director Level - 25%, and Others - 40%
- By Region: North America - 45%, APAC - 30%, Europe - 20%, and RoW - 5%
The key players in the ecosystem of the video surveillance market profiled in this report are Axis Communications AB (Sweden), Bosch Security Systems (U.S.), Zhejiang Dahua Technology Co., Ltd. (China), Hangzhou Hikvision Digital Technology Co., Ltd. (China), FLIR Systems Inc. (U.S.), Honeywell Security Group (U.S.), Avigilon Corporation (Canada), PELCO by Schneider Electric (U.S.), Panasonic System Networks Co., Ltd. (Japan), Samsung Techwin Co., Ltd. (South Korea), Nice Systems Limited (Israel), and Infinova Corporation (U.S.).
Reasons to Buy the Report:
- This report includes the market statistics pertaining to component and service, system type, application, and geography, along with their respective revenue.
- The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the video surveillance market.
- Major drivers, restraints, challenges, and opportunities for the video surveillance market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for markets based on component, device type, application, and geography have been conducted to give an overall view of the video surveillance market.
- A detailed competitive landscape includes key players, in-depth analysis, and revenue of key players.
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