According to a market intelligence report published by BIS Research, the global video surveillance market was valued at $35.05 billion in 2019 and is expected to grow at a CAGR of 10.06% during the forecast period 2020-2025.

Video surveillance technologies have significantly changed the overall surveillance industry in terms of providing increased safety, cost-effectiveness, and convenience. The video surveillance industry is expected to go through a metamorphic phase involving an unprecedented period of innovation and disruption.

The video surveillance market is expanding significantly and is expected to reach a substantial level by 2025. The video surveillance industry is more than 30 years old, with the last two decades experiencing technological advancements from analog closed-circuit television (CCTV) to digital network video surveillance systems.

The surveillance industry is anticipated to grow at a robust rate due to the introduction of video content analytics (VCA) and video surveillance as a service (VSaaS). VCA facilitates the effective extraction of structured information through automatic analysis of the data stream or the images from the closed-circuit television (CCTV). The recognition software includes facial recognition and automatic number plate recognition systems, which are explicitly used for identifying people and vehicles, respectively.

The increase in security concerns and the growing need for highly efficient, time-saving surveillance systems at reasonable costs, is one of the matters to be looked upon in the current scenario. The attempt to deliver such solutions with the growing application across many verticals is considered as one of the major drivers for the video surveillance industry. With the increasing security concerns, along with rising initiatives by the government to spend on surging digitization and smart cities, the number of cameras being used for video surveillance is also increasing. The governments of various nations are deploying video cameras on a massive scale in order to create stronger security systems for their respective countries. These video surveillance systems provide various benefits, such as asset and theft protection, remote monitoring services, gathering evidence to help legal authorities to arrive at the right decisions, increased workplace productivity, and traffic management via automatic license plate recognition. Some private sectors, including banking and finance, hospitals, research labs, sports facilities, corporate headquarters, and auditoriums also require cutting-edge video surveillance technology with improved security features whereas commercial and residential sectors may require cost-effective and efficient cameras solutions, such as zoom-specific cameras and low-light cameras.

Competitive Landscape and Key Players:

The global video surveillance industry is one of the most competitive industries, with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the video surveillance industry exhibits an inclination toward emerging strategies and developments by market players.

The key players that are actively participating in the video surveillance market include Avigilon Corporation, Axis Communications AB, Canon Inc., Cisco Systems Inc., Dahua Technology Co. Ltd., FLIR Systems Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Huawei Technologies Co. Ltd., Panasonic Corporation, Sony Corporation, and Verint Systems Inc., Bosch Security Systems, Hanwha Techwin Co. Ltd., Honeywell Security, Pelco, and The Infinova Group. Amongst these companies, Hikvision has registered the highest overall revenue in the video surveillance industry in 2019.

Market Opportunities:

This segment describes the key opportunities for the video surveillance market. The opportunities are the potential prospects in the market that need to be addressed and tapped and in which the current market players can venture. The evolving market trends and technological developments provide major opportunities for the video surveillance market, which are discussed further in the segment.

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Key Questions Answered in this Report:

• What is the global video surveillance market size in terms of revenue from 2019-2025?

• Which video surveillance category is dominant during the forecast period?

• What is the revenue generated by the different applications, ecosystem categories, and camera types of video surveillance market?

• What are the trends in the global video surveillance market across different regions?

• What are the major driving forces that tend to increase the demand for video surveillance during the forecast period 2020-2025?

• What are the major challenges inhibiting the growth of the global video surveillance market?

• What are the major technological advancements that drive the global video surveillance market growth?

• What was the total revenue generated by the global video surveillance market across different regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) in 2019, and what are the estimates by 2025?

• Who are the key players in the global video surveillance market, and what are the new strategies adopted by them to make a mark in the industry?

• What major opportunities do the video surveillance companies foresee in the next five years (2020-2025)?

• What is the competitive strength of the key leading players in the video surveillance market?

About BIS Research:

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Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

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