Video Surveillance Market To Propel Due To Rising Demand For Wireless Network Infrastructure
MarketResearchReports.Biz has announced addition of new report “Global Video Surveillance Market 2016-2020” to its database.
This study provides a comprehensive overview of the global video surveillance market and presents a detailed study comprising historical information, thoughtful insights, and industry-validated market data and facts. The current market size and the predicted growth rate of the market by 2020 have also been presented in the study. In addition, the threats faced by the key vendors operating in the market along with the key factors impacting the growth of the market in regions such as that of Europe, APAC, North America, Latin America, and the Middle East and Africa (MEA) have also been presented.
As stated in the report, the global video surveillance market is predicted to expand at a steady pace with a CAGR of more than 22.0% from 2016 to 2020. The report commences by providing the market description elaborating on things such as the working of video surveillance systems and video surveillance storage devices. Video surveillance systems are used for monitoring activities in businesses, public areas, and commercial buildings in real-time or for later viewing. These systems can also be employed in private residences and outside schools for providing more security. These surveillance systems are extremely useful for detecting criminal activities and robberies and are majorly employed in areas such as liquor stores, banks, gas stations, ATMs, supermarkets, and hypermarkets, etc.
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In terms of product, the report segments the market into IP cameras, analog cameras, video encoders, digital video recorder (DVR), network video recorder (NVR), and surveillance software. Amongst these, the segment of analog cameras constituted the largest share in the market in 2015. However, it is expected that this segment will lose some of its share owing to the launch of IP cameras within the market.
On the basis of deployment type, the report segments the market into hybrid, on-premise, and cloud. Amongst these, the segment of on-premise led the market in 2015 with share of more than 36%. However, this segment is poised to lose majority of its share in the forecast horizon owing to the high cost associated with the total cost of implementation of on-premise video surveillance solutions, thus decreasing their demand amongst enterprises.
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Next in the report, the key growth drivers as well as the challenges faced by the market have been presented along with providing their impact analysis. Wireless video surveillance presents security in critical infrastructures such as cities and airports without incurring additional cost on maintenance and installation of the systems. Thus, as per the report, the rising demand for wireless network infrastructure is a key driver fuelling the growth of the market.
On the flip side, the introduction of technological improvements may emerge as a key challenge for the major vendors in the market. Hence, for succeeding and surviving in the prevailing competition, vendors will have to distinguish their service and product offering via unique selling propositions.
Geographically, North America held the largest share of approximately 40% in the market in 2015. This is because the technologically advanced infrastructure ensures seamless connectivity between the components of video surveillance devices in this region. However, it has been predicted that this region will lose majority of its share by the end of the forecast horizon.
As stated in the report, the key players operating in the market are Bosch Security, Honeywell Security, Hikvision, Tyco, and NICE Systems, among others.
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