Video Surveillance Market Worth $109.62 Billion, Globally, by 2027 at 12.91% CAGR: Verified Market Research
Rising demand for security observation products on account of criminal activities, cost reduction in availing various cloud storage solutions, and threat activities are essential factors enhancing this market
Jersey City, N.J., Aug. 13, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Video Surveillance Market by System (Analog Video Surveillance Systems, IP Video Surveillance Systems), by Offering (Hardware, Software, Video Surveillance-as-a-Service, Installation & Maintenance Services), by Vertical (Commercial, Infrastructure, Military & Defense, Residential, Public Facility, Industrial), Geography". According to Verified Market Research, the Global Video Surveillance Market was valued at USD 41.30 Billion in 2019 and is projected to reach USD 109.62 Billion by 2027, growing at a CAGR of 12.91% from 2020 to 2027.
This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.
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Browse in-depth TOC on "Video Surveillance Market"
Global Video Surveillance Market Overview
With the growing concern for security, there is a rising demand for the video surveillance market. This system consists of IP video/network video surveillance systems that offer amazing features such as high resolution and product scalability that will help the organizations to increase their operational efficiency, which will lead to the growth of the market. In addition, rising demand for security observation products on account of criminal activities, cost reduction in availing various cloud storage solutions, and threat activities are essential factors enhancing this market.
With the use of IP-based digital technologies, it is able to detect and prevent undesirable behaviors, such as shoplifting, thefts, vandalism, and terror attacks. However, certain factors like the absence of unified standardization, exorbitant initial costs, and the impending threat to data integrity are restraining the growth of the video surveillance market. Moreover, rising government investment in increasing safety levels in public places is likely to offer lucrative opportunities for the market to grow over the forecast period
The major players in the market are Hikvision, Dahua , Axis Communications, Bosch Security Systems, FLIR , Avigilon , Hanwha Techwin, and others.
Verified Market Research has segmented the Video Surveillance Market on the basis of System, Offering, Vertical, and Geography.
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