PUNE, India, May 7, 2018 /PRNewswire/ --
According to the research report "Video Surveillance Market by System (Analog, & IP), Offering (Hardware, Software, & Service), Vertical (Commercial, Infrastructure, Military & Defense, Residential, Public Facility, & Industrial), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the overall market is estimated to grow from USD 36.89 Billion in 2018 to USD 68.34 Billion by 2023, at a CAGR of 13.1% between 2018 and 2023. The increasing concerns for public safety and security, growing adoption of IP cameras, and growing demand for DIY and spy cameras are the key factors driving the video surveillance market growth.
(Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )
Browse 77 market data Tables and 65 Figures spread through 193 Pages and in-depth TOC on "Video Surveillance Market - Global Forecast to 2023"
Early buyers will receive 10% customization on this report
Market for IP video surveillance systems to grow at a higher CAGR during the forecast period
The growth of the IP video surveillance systems market is mainly due to the shifting preference from analog to IP systems. The key advantages of IP systems include enhanced image quality, high scalability, easy installation, and remote accessibility with network-based models. These systems can be integrated with the existing IP network, and they provide the basic platform for software such as video analytics, VMS, and cloud storage. The market for IP video surveillance systems is expected to grow at a rapid pace in the near future owing to technological advancements in IP cameras as well as in the storage device industry.
Cameras expected to account for the largest size of the video surveillance hardware market by 2018
The growth in safety and security concerns, the rise in the crime rate, and the increase in the number of terror attacks are some major factors driving the growth of the market for cameras used for video surveillance. The continuous decrease in the prices of cameras has resulted in the increased adoption of surveillance cameras across the world, which, in turn, created the significant demand for storage solutions and monitors.
Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=645
Commercial vertical to dominate the video surveillance market during the forecast period
The commercial vertical is expected to dominate the video surveillance market. Under this vertical, commercial areas such as enterprises and data centers, banking and finance buildings, hospitality centers, retail stores and malls, and warehouses are considered. The rising demand for video surveillance systems in retail stores and malls, enterprise and data centers, and banking sectors is driving the growth of this market.
APAC to dominate the video surveillance market during the forecast period
Asia Pacific is the fastest-growing region in the video surveillance market owing to heavy investments in building new and improve existing infrastructure. The market for video surveillance systems and services in Asia Pacific is likely to continue to grow significantly at a high rate in the near future. The use of security cameras is expected to increase in APAC countries as these are emerging economies with a growing number of manufacturing bases, and the terrorist attack is a strong possibility. Moreover, the market for video surveillance is expected to witness an upsurge in APAC owing to the increased security concerns in APAC countries such as India and China.
Major players in the video surveillance market are Hikvision (China), Dahua (China), Axis Communications (Sweden), Bosch Security Systems (Germany), FLIR (US), Avigilon (Canada), Hanwha Techwin (South Korea), Honeywell Security Group (US), Infinova (US), Pelco (US), BCD Video (US), CP Plus (India), Nice Systems (Israel), Panasonic (Japan), Tiandy (China), Uniview (China), Vivotek (Taiwan), and Zicom (India).
Know more about the Video Surveillance Market:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Visit Our Blog: http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets