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Video Surveillance Equipment And Services Market By Component (Hardware, Software, Services), By End-Use (Banking And Finance, Commercial, Government, Residential, Hospitality, Sports And Events, Transportation, Retail) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2024

Video surveillance refers to the monitoring and recording of physical activities occurring within the premises and around the perimeter of critical sites with the use of cameras. Video surveillance systems are comprised of numerous components, including cameras, recorders, encoders, video management software, video analytics, and other accessories used for camera mounting and control. In addition, the video surveillance system also includes a network for video monitoring and distribution. Depending on the application, end-users can choose to deploy a closed-loop network to ensure enhanced security or an IP-based network to achieve higher accessibility and scalability. Likewise, end-users can make use of various types of cameras, such as analog, digital, fixed, pan/tilt/zoom (PTZ), panoramic, thermal, and high definition (HD), among others. Such deployment of video surveillance systems at end-user sites provides users with a higher level of customization and control over monitoring capabilities. However, initial investments in various equipment, infrastructure, and software make it difficult for some of the end-users to adopt and deploy video surveillance systems. With rising demand for low-cost video surveillance capabilities, the market has seen an increase in video surveillance as a service (VSaaS) providers.VSaaS has offered a viable solution for end-users to deploy the latest video surveillance systems at an affordable and timely fee. As a result, video surveillance systems have seen widespread adoption in recent years.

Some of the key driving factors in the market for video surveillance equipment and services include the increasing need to provide enhanced public security and safety. With increasing instances of crime and terror attacks, it has become imperative for various government bodies and business owners to deploy video surveillance systems to effectively monitor and record activities within and around the premises. In addition, technological advancements in camera and network technology have made it feasible for video surveillance providers to design and offer effective solutions to cater to the varying requirements of various end-use industries. Other factors, such as declining equipment costs and the rise of innovative applications using video analytics, are further expected to fuel the growth of the video surveillance equipment and services market in the following years. However, a lack of technological awareness and effective government regulations have been hampering market growth in some of the developing economies.

The report titled "Global Video Surveillance Equipment and Services Market: Growth, Future Prospects, and Competitive Analysis, 2016–2024" offers strategic insights into the global video surveillance market along with the market size and estimates for the duration of 2014–2024. The said research study covers an in-depth analysis of multiple market segments based on component, end-use industry, and cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2015 and 2024. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities. In addition, the report covers a section providing an analysis of the key market trends, including the switch from analog to digital systems, high-definition cameras, and integrated security applications based on video surveillance in various end-use industries.

The global video surveillance equipment and services market is segmented, based on component, into the following categories:

  • Hardware
  • Software
  • Services

In 2015, the services segment held the largest share of the overall video surveillance market across the world. Increasing adoption of video surveillance systems and demand for the latest cameras and network components have led to higher demand for various implementation and maintenance services. Furthermore, the rising adoption of video surveillance as a service (VSaaS) across the world is further expected to fuel growth in the services segment of the overall video surveillance market across the world.

Declining equipment costs are expected to result in lower revenues generated in the hardware segment of the overall video surveillance market. Moreover, with the increasing adoption of VSaaS, the unit sales of various components of video surveillance, such as cameras, servers, recorders, encoders, and storage devices, among others, are expected to decline during the forecast period. Thereby, the hardware segment would witness a decrease in share in terms of revenue. Innovative applications using video analytics and the increasing use of facial recognition and behavior analysis are expected to increase the share of the software component in the overall video surveillance market during the forecast period.

The global video surveillance equipment and services market has been segmented on the basis of geographical regions, as per the following regions and countries:

  • North America
  • U.S.
  • Canada
  • Europe
  • U.K.
  • Germany
  • CIS
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • South Asia
  • Australasia
  • Rest of Asia Pacific
  • Middle East and Africa (MEA)
  • GCC countries
  • North Africa
  • Southern Africa
  • the remainder of MEA
  • Latin America
  • Brazil
  • Mexico
  • rest of Latin America

In 2015, Asia Pacific led the overall video surveillance market across the world. The segment contributed to almost half of the total revenue generated globally in 2015. The high rate of adoption of video surveillance systems in countries such as China, Japan, and South Korea has primarily contributed to the large market share of the Asia Pacific region in terms of revenue. In addition, the presence of strong local providers of video surveillance equipment and services, such as Hangzhou Hikvision Digital Technology Co., Ltd., Dahua Technology Co., Ltd., Canon, Inc., JVC Kenwood Corporation, Panasonic Corporation, SAMSUNG TECHWIN Co., Ltd., and Sony Corporation, among others, has led to the higher adoption of video surveillance in the region.

North America and Europe followed the Asia Pacific region in the global video surveillance equipment and services market in terms of revenue. The Europe video surveillance market is expected to grow significantly during the forecast period, owing to rising security threats and increasing vulnerability of various sites across the region. Factors such as cross-border migration and increasing instances of terror attacks are expected to further fuel the need to provide better public safety and security in most of the countries in the European region. With continued demand from the hotels and leisure industry in some of the tourist countries in the Middle East, the MEA video surveillance equipment and services market is expected to witness sustained growth during the forecast period.

Frequently Asked Questions: 

The market for Video Surveillance Equipment And Services Market is expected to reach At US$ 15 Bn in 2024.

The Video Surveillance Equipment And Services Market is expected to see significant CAGR growth over the coming years, at 10.1%.

The report is forecasted to 2016-2024.

The base year of this report is 2015.

Tyco International Ltd.,Hikvision Digital Technology Co.Ltd.,United Technology Corporation (UTC),Axis Communications AB,Zhejiang Dahua Technology Company Limited are some of the major players in the global market.

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Published Date:  Feb 2017
Category:  Technology & Media
Report ID:   58351
Report Format:   PDF
Pages:   120
Rating:    4.3 (55)
Delivery Time: 24 Hours to 48 Hours   
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