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. 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.
The market report
published by expert analysts includes primary and secondary data and suggests
that components and applications segments are anticipated to witness tremendous
growth till 2023. Factors such as users carrying smart phones and other devices
will become key growth drivers during the forecast period and accountability
for officers and civilians is also said to be supporting the market globally,
however, the growth projected for the forecast period could be affected by the
seamless transfer of video recordings which could negatively affect activities
taking place across the market. Increase in privacy concern is another
challenge the market could face till 2023.
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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.
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.
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.
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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