IP Video Surveillance Market Leading Players, Current Trends, Market Challenges, Growth Drivers and Business Opportunities | COVID-19 Effects

[Snehal Kale]

Market Overview

Market Research Future (MRFR) projects the global IP Video Surveillance Market to reach approximately USD 25 Billion at an estimated CAGR of 12% over the forecast period of 2021-2027. Demand for video surveillance has risen steeply over the past few years, IP video surveillance in particular. The IP video surveillance market growth is sustained by local and national governments’' initiatives to mitigate security threats arising from terrorists and other perpetrators. The need for better surveillance capabilities coupled with an increased focus on the prevention of attacks is driving the growth of the global IP video surveillance market. Growing number of terror attacks across the globe has encouraged the governments in multiple countries to endeavor towards prevention of such crisis. Increasing penetration of video surveillance in diverse industries has boosted the growth of the global IP video surveillance market. Monitoring of industrial activities is critical to ensure personnel and public safety, process and product quality and site security. Moreover, the convergence of affordable high-resolution and high-quality video monitoring has increased the adoption rate among various industries. Cut-throat competition among the key market players has resulted in the development of high-definition advanced video surveillance cameras at low prices which has accelerated the demand for IP video surveillance. Development of internet infrastructure and connectivity has also impacted the market positively. Other factors assisting the growth of the market include a rise in crime across the globe, higher awareness regarding security and benefits of IP video surveillance, and the growing need for security. However, lack of storage facility and privacy issues are expected to hinder the growth of the global IP video surveillance market over the forecast period.

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Industry Segments

The IP Video Surveillance market is segmented on the basis of application, region and component. The component based segmentation of the market is segmented into software and hardware. The hardware component further consists of monitors, cameras, and servers. The software component further contains video management and video analytics. The regions that are covered in the market are APAC, North America, Europe, Middle East, Africa and rest of the world. The application segment of the market comprises of government, manufacturing, BFSI, healthcare, retail and others.

Key Players:

The key players in the global IP Video Surveillance Market include- Avigilon (Canada), Axis Communications. (Sweden), D-Link (Taiwan), Genetec Inc. TM. (Canada), The Infinova Group (U.S.), Bosch Security Systems Inc. (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Panasonic Corporation (Japan), Geo Vision Inc (Taiwan) among others.

Regional Analysis

The analysis of the market has led to the observation that the IP Video Surveillance market in the North American region is estimated to observe a substantial growth period and control a significant market share in the duration of the forecast period. Countries such as Canada and U.S are estimated to initiate the growth uptick of the North American market for IP video surveillance due to the existence of a huge number of established key players. The North American region also posseses a well-established infrastructure, which permits a greater of penetration of devices which eventually offers better connectivity. Growing need for innovations and advancements in the technology are other key factors accountable for the growth in the IP Video Surveillance market. Additionally, the Asia Pacific region is predicted to observe a comparatively faster adoption rate due to a high CAGR during the forecast period as compared to other regions due to the amplified growth of IT infrastructure and telecommunication, developing economies and the technological progress in IP video surveillance in the region.

Industry Updates

In September 2018, Eagle Eye Networks, a leader in cloud-based video surveillance solutions announced a partnership with Arlo Technologies, a leading wire-free surveillance cameras provider. The partnership will combine the Eagle Eye's cloud VMS with Arlo's Flex Power camera System which will ensure maximum protection from predator bots.

In October 2018, Aerocont Vision Costar, a leading provider of IP-based megapixel cameras and video surveillance solutions, announced new product portfolio following the initial launch of the business in July 2018. The new company is a subsidiary of Costar Technologies, Inc., a developer, and manufacturer of video surveillance products.

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Intended Audience

Manufacturers
Distributors
Research firms
Consultancy firms
Software Developers
Vendors
Semiconductor Manufacturers
End-user sectors
Technology Investors

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