Global Video Surveillance Systems Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Video Surveillance Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global video surveillance systems market trends, size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global video surveillance systems market size reached US$ 57.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 135.2 Billion by 2028, exhibiting a growth rate (CAGR) of 14.8% during 2023-2028.
Video surveillance systems, also known as closed-circuit television (CCTV) systems, are a crucial component of modern security infrastructure. They comprise a network of cameras, recording devices, monitors, and storage servers. They capture, transmit, and store video footage of designated areas for security and surveillance purposes and provide real-time monitoring and recording capabilities. They offer enhanced flexibility as the captured video footage can be viewed on-site or remotely to identify criminals, gather evidence, and assess the situation. They enable immediate response to security incidents, accidents, or emergencies, and help prevent or mitigate potential threats. They serve as a crucial tool for deterring and investigating security breaches, thefts, and unauthorized activities. They allow organizations and individuals to keep a watch on specific locations to prevent financial losses. They reduce the need for physical security personnel and minimize the financial impact of security incidents through evidence collection. They provide a clear record of events that aid in identifying perpetrators and resolving legal matters. Besides this, they are beneficial for monitoring employee performance and maintaining adherence to safety protocols. As they assist in providing peace of mind and quick response to incidents, the demand for video surveillance systems is rising across the globe.
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Global Video Surveillance Systems Market Trends and Drivers:
The growing demand for video surveillance systems in companies, as they reduce insurance premiums and provide enhanced security and risk management, currently represents one of the major factors influencing the market positively. Moreover, increasing security concerns in various sectors, along with the integration of artificial intelligence (AI) and machine learning (ML) algorithms in video surveillance systems to identify objects or individuals and trigger alerts for potential threats in real-time, is strengthening the growth of the market. Apart from this, there is a rise in the need for video surveillance systems in transportation hubs to maintain public safety. This, coupled with the escalating demand for video surveillance systems, as they are cost-effective and provide remote monitoring capabilities, is propelling the growth of the market. Additionally, the increasing adoption of advanced video surveillance systems, as they offer high-definition (HD) video quality, remote access, and intelligent analytics, that enhance security and operational efficiency is impelling the market growth. In line with this, the growing demand for video surveillance systems to reduce financial losses, along with the rising number of thefts, vandalism, and other criminal activities around the world, is offering a positive market outlook. Furthermore, video surveillance systems detect suspicious behavior or patterns, such as loitering or unauthorized access, by analyzing video feeds and triggering alerts to enhance security, which is bolstering the growth of the market. In addition, the increasing installation of video surveillance systems in schools and educational institutions to provide enhanced safety to students is providing lucrative growth opportunities to industry investors. Besides this, the rising usage of video surveillance systems to ensure patient safety and protect sensitive information in the healthcare industry is contributing to the market growth.
Global Video Surveillance Systems Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Axis Communications AB (Canon Inc.), Bosch Sicherheitssysteme GmbH (Robert Bosch GmbH), Eagle Eye Networks Inc., Hangzhou Hikvision Digital Technology Company Limited, Honeywell International Inc., Infinova Corporation, Panasonic Corporation, Qognify Inc., Samsung Electronics Co. Ltd., Schneider Electric SE, Sony Group Corporation and Zhejiang Dahua Technology Co. Ltd.
The report segmented the market on the basis of region, system type, component, application, enterprise size and customer type.
Breakup by System Type:
- Analog Surveillance
- IP Surveillance
- Hybrid Surveillance
Breakup by Component:
- Hardware
- Software
- Services
Breakup by Application:
- Commercial
- Military and Defense
- Infrastructure
- Residential
- Others
Breakup by Enterprise Size:
- Small Scale Enterprise
- Medium Scale Enterprise
- Large Scale Enterprise
Breakup by Customer Type:
- B2B
- B2C
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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