Market Research Report
Surveillance Camera Market to 2027 - Global Analysis and Forecasts by Type, Product Type, End User
|Published by||The Insight Partners||Product code||928826|
|Published||Content info||180 Pages
Delivery time: 1-2 business days
|Surveillance Camera Market to 2027 - Global Analysis and Forecasts by Type, Product Type, End User|
|Published: February 28, 2020||Content info: 180 Pages||
The global surveillance camera market accounted for US$ 21.82 Bn in 2018 and is expected to grow at a CAGR of 8.7% over the forecast period 2019-2027, to account for US$ 45.93 Bn in 2027. The increase in security concerns and rising infrastructural developments and significant rise in adoption of IP cameras are few of the factors driving the surveillance camera market worldwide. However, concerns related to data security may restrain the future growth of surveillance camera market. Despite these limitations, the integration of artificial intelligence in surveillance cameras is projected to have a positive impact on the growth of the surveillance camera market in the coming years.
The video surveillance industry is growing at an impressive pace owing to the evolving security landscape, growing demand for innovative security solutions, and rising integration of advanced technologies such as artificial intelligence in surveillance cameras. The ongoing trends of digital transformation and business process automation are pushing enterprises operating in critical sectors such as BFSI, government, defense, and healthcare to invest in efficient security systems to ensure safety and meet compliance requirements. In addition to this, the demand of surveillance cameras is also anticipated to increase due to rising trend of smart cities, smart homes, and intelligent workplaces across the world. In the global video surveillance industry, there are various future trends which are projected to boost the adoption of surveillance cameras across diverse industry verticals. Some of the prominent trends include artificial intelligence based end-to-end security solutions, cybersecurity features, cloud based solutions, privacy management, and vertical specialized solutions. The integration of technologies such as artificial intelligence, cloud, and internet of things into existing and upcoming surveillance equipment and solutions to meet the challenging demands customers is fuelling the future growth of global surveillance camera market.
The market for surveillance camera has been segmented on the basis of type, product type, end user, and geography. Based on type, the market is segmented into analog and IP cameras. IP cameras segment represented the largest share of the overall market throughout the forecast period and it is also expected to be the fastest growing surveillance camera type owing to the increasing number of technology advancements in IP camera systems. Based on product type, the surveillance camera market is segmented into dome cameras, bullet cameras, box style cameras, PTZ cameras, thermal cameras, and others. In 2018, dome cameras held a substantial share in the global surveillance camera market followed by bullet cameras. PTZ cameras are anticipated to grow at the highest CAGR from 2019 to 2027. The market is further segmented on the basis of end users into BFSI, government & defense, commercial, manufacturing & construction, healthcare, logistics & transportation, residential, and others. During the forecast period, commercial, BFSI and government & defense are the major contributors to the overall growth of global surveillance camera market.
Some of the key players present in the surveillance camera market are Canon Inc., Dahua Technology Co., Ltd, FLIR Systems, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Hanwha Techwin Co., Ltd., Honeywell International Inc., Panasonic Corporation, Pelco Corporate, Robert Bosch GmbH, and The Infinova Group among others.
The overall surveillance camera market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the surveillance camera market. It also provides the overview and forecast for the global surveillance camera market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the surveillance camera market.