According to a new market research report published by Credence Research “Video Surveillance Equipment and Services Market (Component – Hardware, Software and Services) – Growth, Future Prospects, Competitive Analysis and Forecast 2016 – 2024”, the global video surveillance equipment and services market stood at US$ 15 Bn in 2015 and is estimated to expand with a CAGR of 10.1% from 2016 to 2024.
The purpose of the report is to illustrate the state of the market of Video Surveillance Equipment And Services, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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The video surveillance equipment and services market has been primarily driven by increasing need to secure various buildings, sites and premises. With rising security threats and increasing instances of crime and terror attacks, there has been a growing need for public safety and protection. It has become imperative for various government bodies and businesses to deploy video surveillance systems within the premises and around the perimeter to ensure law enforcement and public protection. Other factors such as technological advancements in cameras and rising applications in video analytics have opened up new avenues in the overall video surveillance market across the world. End-use industries including banking and finance, commercial, government, residential, retail, hospitability, and sports and events make use of video surveillance systems to provide enhanced public safety and security. Factors such as declining cost of network or IP-based cameras and rise of video surveillance as a service (VSaaS) have further fuelled the growth of the overall video surveillance market across the world. In addition, technological advancements in thermal cameras, motion detection cameras, and day/night cameras have led to its increasing adoption in various high-end sectors in the developed market such as the U.S., UK, Germany, France, Japan, South Korea and China, among others.
Some of the factors restricting the growth of security cameras market included lack of technological awareness among consumers and high initial costs. Despite declining costs of network cameras, customers in most of the developing countries are yet to deploy video surveillance solutions on their premises. In addition, lack of technological awareness among consumers has led to limited popularity of video surveillance systems among various business owners in the emerging markets. However, with the rise of cheaper cameras and growing adoption of video surveillance as a service (VSaaS), the overall video surveillance market is expected to witness a strong demand in the following years. Thereby, the overall video surveillance market is expected to witness strong growth across the world during the forecast period.
The video surveillance equipment and services market is highly consolidated in most of the developed regions in the world. The video surveillance equipment and services market includes numerous providers in the video surveillance ecosystem including equipment manufacturers, network providers, software providers and system integrators, among others. Thereby, the market in most of the developed countries has been witnessing price-based competition leading to increased strain on the video surveillance equipment and service providers. Video surveillance providers have been engaged in providing customized solutions for various end-use industries to better meet end-users requirements. Thereby, the market is expected to witness rise of innovative applications which would further enable end-users to provide enhanced security and draw valuable insights from the surveillance videos through video analytics.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Video Surveillance Equipment And Services buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Video Surveillance Equipment And Services contains:
Analysis and forecast of Video Surveillance Equipment And Services market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Video Surveillance Equipment And Services market;
Assessment and forecast of Video Surveillance Equipment And Services market development;
Financial and business profiles of the leading companies in the Video Surveillance Equipment And Services industry.
– Up to date working Video Surveillance Equipment And Services data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Video Surveillance Equipment And Services for the period 2018 to 2026
– Planned Video Surveillance Equipment And Services additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Video Surveillance Equipment And Services projects by region, key countries, and companies
– Details of major planned Video Surveillance Equipment And Services projects in the world up to 2026
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