IP Video Surveillance Market Size, Share, Current Scenario, Growth Insights, Revenue, Business Trends, Opportunities, Key Players and Impact of COVID
Research Reports
Apr 06, 2022
IP Video Surveillance Market Overview:
The IP Video Surveillance Market is set to grow at a CAGR of 12.42% during the forecast period 2017 to 2023. As per the market research report, the market will hit US$25.46 billion in terms of valuation by the end of 2023. Video surveillance systems are utilizing advanced technologies in recent times owing to the growing population and urbanization. The potential benefits of the IP video surveillance for the residential units which include the reduction in the premium costs of the house insurances are also creating a tremendous impact on the growth of the IP video surveillance market value.
The market growth will be driven by the increasing security concerns. Based on the research report, a wide variety of emerging technologies will accelerate growth in the market till 2023. Although increase in privacy concern will have a negative impact on the global IP video surveillance market’s growth during this period. The use of video surveillance cameras is predicted to be a key challenge which could become a strong threat from 2017 to 2023 to companies.
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Competitive Landscape
Security devices based organizations are profiled in the market research report. The IP video surveillance market along with companies and segments has been studied. The analysis of security devices based business is also done to identify key challenges and strengths of these companies. The global IP video surveillance market research report covers SWOT analysis, Porter’s Five Force analysis of major security devices related organizations. The strategy and other key details of these companies for the forecast period 2017 to 2023 are covered in the report. The quality of the information is anticipated to support the market growth as the market is set to grow at a CAGR of 12.42% and reach a value of US$25.46 billion by 2023. Around the world, there is a growing wave in urbanisation. The implementation of the Internet of Things (IoT) is the basis for smart city growth in India and other parts of Asia Pacific. To create actionable feedback and improved decision-making, smart cities focus on the convergence of IoT, Big Data, and other innovations.
Market Segmentation
The IP video surveillance market is segregated into different market segments based on components and applications. For a comprehensive analysis of the market, the components and applications segments are further split into smaller segments. The components segment is categorized into hardware, software, and services. Furthermore, based on applications, the global market is also segmented into BFSI, government, manufacturing, healthcare, retail, and others.
Increasing trends toward the development of smart cities will support the market growth from 2017 to 2023. As per the market research report, the global market for IP video surveillance is anticipated to grow at a healthy rate across all the components and applications segments. However, the presence of active threats such as the lack of developed infrastructure could hamper the market growth. Business activities across security devices have also been examined and studied by security devices industry’s experienced analysts. The IP video surveillance market research report covers findings with predictions and forecasts till 2023.
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Regional Overview
The IP video surveillance market, with its product and service related segments, is spread across the world. Security devices based in regional markets are also covered in the market research report.
The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. An increasing trend of urbanization around the globe is anticipated to be a major factor for growth across the security devices space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The security devices sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom.
In the Asia Pacific region, the market is segmented into China, India, Japan, and others. Security devices based businesses in these regional markets are anticipated to grow due to smart cities dependent on the integrated use of IoT during the forecast period 2017 to 2023. Although the market’s growth could be affected by the lack of effective communication. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.
Industry News
Pelco, the video monitoring industry’s stalwart, lost value again on Monday, with Motorola Solutions reporting that it had bought the company for $110 million in cash, just 15 months after becoming purchased by US-based investment company Transom Capital Group. Since Motorola concluded its purchase of Avigilon in April 2018, these have made a slew of surveillance cameras acquisitions. Since then, WatchGuard Inc. has been attached to the business, and IndigoVision was acquired in June.
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