What is video surveillance? Video surveillance is the act of observing a scene or scenes and looking for specific behaviors that are improper or that may indicate the emergence or existence of improper behavior. Video surveillance solutions are deployed to curb emergencies such as intrusion, murder, robbery, and theft. The deployment of video surveillance enables a safe, crime-free environment and helps improve the quality of life for citizens.
Technavio predicts that the global video surveillance market will post a compound annual growth rate (CAGR) of 11% by 2022. Additionally, according to Technavio, the global video surveillance market size is poised to grow by USD 25.72 billion by 2022. One of the key emerging trends in the video surveillance industry is the need to mitigate criminal activities and terrorist attacks. With the growth of the market, video surveillance market leaders are seen developing solutions to identify crimes before they happen.
The video surveillance market appears to be moderately fragmented with various companies occupying the market share. Technavio’s video surveillance market analysis identifies that the threat of sophisticated criminal and terrorist activities is increasing across the world. The increasing number of terrorist attacks, especially in countries such as the US and the UK, has necessitated the deployment of video surveillance solutions. Video surveillance solutions are also deployed to curb anti-social activities such as intrusion, murder, robbery, and theft. Therefore, the deployment of video surveillance enables a safe and crime-free environment and helps improve the quality of life for citizens.
Technavio’s report does a deep dive analysis of the various factors affecting the global video surveillance market growth rate and size. Which companies are leading the way? According to Technavio, the video surveillance market leaders are Axis Communications, Bosch Sicherheitssysteme, Dahua Technology, Hangzhou Hikvision Digital Technology, and Panasonic.
From a geographical market segment standpoint, the APAC region leads the global video surveillance market with a market share of close to 46%, followed by the Americas and EMEA respectively. However, during the forecast period, the Americas is expected to show the highest incremental growth followed by the EMEA region.
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AI-based video surveillance has transformed the video surveillance industry from being just a passive deterrent tool. With improvements in technology, AI brings in smart automation to analyze large volumes of surveillance data to leverage it into worthwhile insights. AI can accurately analyze live video streams in real-time with limited or no assistance from people. Moreover, AI can compensate for human errors by offering a superior standard of facial, faceless, behavioral, and object detection. Moreover, smart AI-based video surveillance systems have features such as intrusion detection, motion and speed detection, object classification, behavioral analysis, GPS mapping, and vehicle tagging and tracking. Therefore, AI-based methodologies are expected to be integrated with video surveillance, which will improve crime spotting and prevention.
“Video surveillance solutions can be used to track and apprehend criminals and provide conclusive evidence in court. Currently, several vendors are seen developing solutions to identify crimes before they happen. Therefore, the advent of smart AI along with the development of innovative solutions is expected to boost the growth of the market during the forecast period,”
According to a senior analyst at Technavio for research on IT security.
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According to Technavio, the following companies are leading the way for the global video surveillance market.
Axis Communications is a Swedish manufacturer of network cameras for the physical security and video surveillance industries.
Bosch Sicherheitssysteme is a leading international supplier of products and systems for security and communication.
Dahua Technology is a provider of video surveillance products and services.
Based in Hangzhou, China, Hangzhou Hikvision Digital Technology is a Chinese manufacturer and the world's largest supplier of video surveillance products.
Panasonic’s video surveillance solutions provide the development, manufacture, and sales of devices and modules for the security, medicine, and industrial fields, in addition to the solutions including system integration, construction, maintenance, and related services.
To learn more about the companies dominating the market, view our report.
Technavio’s report is highlighted by an in-depth analysis and predictions on vendors advancing technologies and driving the growth of the global video surveillance market size. Technavio’s report offers an analysis of the market based on deployment (on-premise and hybrid), product (hardware, software, and services) and end-user (public, commercial and residential).
Technavio is a global market research company specializing in niche and emerging technologies. The company has published over 15,000 reports on hundreds of industries and technologies, serving more than 1,000 organizations globally and over 100 Fortune 500 companies. Its offerings include syndicated research, subscription services, and custom research offerings to help businesses make fast, effective, well-founded decisions. Headquartered in London, UK and with offices across 7 countries, Technavio’s 500 in-house analysts and 16 years of experience allow the company to offer unmatched insights into countless markets. Discover what Technavio can do for you at https://www.technavio.com/.
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