Increasing security concerns due to growing terrorist attacks and criminal incidents is driving the global video surveillance market.
Vancouver, British Columbia (PRWEB) December 23, 2013
Governments across the globe are focusing more towards security, and consequently expanding their budgets to install video surveillance equipment and systems. Over the years, growing terrorist threats and attacks have pushed the need for more advanced and secure video surveillance cameras, in particular, for defence end users, majorly in North America, Middle East and Asia.
According to the recently published report by TechSci Research, “Global Video Surveillance Market Forecast & Opportunities, 2018”, the IP/Network video surveillance market is projected to grow at a CAGR of around 25% during 2013-18. In 2012, the analog-based video surveillance technology market accounted for largest market share, with Asia generating highest revenues, followed by North America and EMEA. On the other hand, IP/Network-based video surveillance technology market witnessed most of its demand emanating from North America and EMEA region. The demand for IP/Network-based video surveillance systems and components is expected to surpass the overall global demand for analog video surveillance in 2014. Currently, defence end user segment accounts for the highest market share, followed by public and private infrastructure segments.
The report highlights that emergence of DIY (Do-It-Yourself) market has played a significant role in video surveillance components market, with analog-based cameras and DVRs accounting for a major chunk of the overall demand in 2012. However, with the advent of IP/Network-based surveillance components, the price sensitivity in the market would only increase and a gradual shift in demand towards IP-based systems is expected over the next five years. High definition megapixel cameras, CCD Sensors, VSaaS (Video Surveillance as a Service), and wireless video surveillance for cellular communication are the evolving trends in the global video surveillance market.
“Hikvision is the market leader, which has been awarded with many projects worldwide such as installation of Megapixel IP high speed dome cameras across the cities of Brazil and Argentina. However, other leading companies such as Axis Communications, Dahua Technology, Bosch Security and ADT are also expected to increase their presence during the next five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Video Surveillance Market Forecast & Opportunities, 2018” has evaluated the future growth potential of video surveillance market globally, and provides statistics and information on market structure, market trends, market size, etc. The report includes video surveillance market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in video surveillance market globally.
For the original version on PRWeb visit: http://www.prweb.com/releases/2013/12/prweb11444853.htm