DUBLIN, Jan. 17, 2024 /PRNewswire/ — The “Video Surveillance Systems Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F” report has been added to ResearchAndMarkets.com’s offering.
This research on the Global Video Surveillance Systems Market highlights significant growth as industry players harness the power of advanced security technologies and respond to the global call for enhanced monitoring solutions. As the world faces increased security threats and as urban areas expand, the demand for sophisticated surveillance technologies has risen exponentially. The market, which valued at USD 74.6 billion in 2022, is forecasted to grow at a CAGR of 13.6% during the period up to 2028.
Key Market Drivers Fueling Expansion
- Rising Security Concerns: As instances of criminal activities and public safety threats increase, the urgency to invest in reliable surveillance measures intensifies. Advanced video surveillance systems are being adopted across various sectors to proactively monitor and respond to potential threats.
- Urbanization and Infrastructure Development: The global shift toward urbanization necessitates robust security frameworks for burgeoning cities. This, combined with significant investments in infrastructure development, drives the implementation of complex surveillance systems.
In addition to these factors, the integration of artificial intelligence and analytics into surveillance systems is emerging as a transformative trend within the industry. AI enhances real-time data analysis, leading to more accurate threat detection and efficient resource allocation.
Technology and Innovation: The Cornerstones of Market Evolution
Remote monitoring capabilities, offering real-time access to surveillance feeds, empower businesses with immediate situational awareness and effective response mechanisms. These technological strides are central to the sustained growth of the video surveillance market. However, the market also faces challenges such as concerns over data security and privacy. There is also an ongoing need for interoperability and standardization across disparate surveillance systems and components. Addressing these issues with robust frameworks and open standards will be critical to facilitate seamless integration and enhance user confidence in surveillance technologies.
Momentum with Market Segments: Software and Commercial
The Software segment, led by video analytics and management solutions, remains a dominant force. Its influence is set to continue as businesses seek smart, data-driven surveillance solutions. Similarly, the Commercial Sector retains its pole position, spurred by heightened security needs and the adoption of innovative monitoring systems.
Regional Dominance: Asia-Pacific at the Forefront
The Asia-Pacific region, with its rapid urbanization and large-scale investment in smart city projects, is a significant growth engine for the global market. Countries like China and India, with their expansive urban development projects, are substantial contributors to the market’s upward trajectory. In conclusion, the Global Video Surveillance Systems Market stands at the intersection of need and innovation, set for continued expansion and transformation. Industry stakeholders are expected to leverage the growth-inducing trends, addressing global security challenges with advanced technological solutions.
A selection of companies mentioned in this report includes:
- Axis Communications AB
- Bosch Security Systems Incorporated
- Honeywell Security Group
- Samsung Group
- Panasonic Corporation
- FLIR systems Inc.
- Schneider Electric SE
- Qognify, Inc. (Battery Ventures)
- Infinova Corporation
- Zhejiang Dahua Technology Company Limited
- Hangzhou Hikvision Digital Technology Company Limited
- Sony Corporation
For more information about this report visit https://www.researchandmarkets.com/r/uvrkle
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