Global IP Video Surveillance Market size was valued US$ 15.94 Bn in 2019 and is expected to reach US$ 40.67 Bn by 2027, at a CAGR of 12.42% during forecast period. North America is expected to witness high growth of CAGR of 11.19% during forecast period.
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Global IP Video Surveillance Market Definition
Internet Protocol (IP) video surveillance is an adaptation of digitized and networked version of CCTV. IP Video Surveillance system is the process of recording video footage by an IP camera and then dispersing the resulting substance over an internet protocol network.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Market Dynamics
The global IP video surveillance market research report provides region wise, segment wise comprehensive analysis of growth driving factors, restraining factors, challenges and future opportunities of the market. Growing need of safety in high risk areas is the major driving factor behind the growth of market. IP video surveillance offers some benefits such as accessibility, high resolution, digital storage, easy video sharing, low maintenance, flexibility, wireless network, redundancy, scalability, remote access and power over Ethernet switch which eliminates the need of additional power supply are ultimately propelling the growth of market. Furthermore, demand of Wi-Fi based wireless IP video surveillance system and requirement of video footage recorded by IP surveillance system on mobile devices are expected to improve the market growth.
However, high cost of initial set up and costly price of high resolution IP cameras are major restraining factors that could hamper the growth of market. Lack of technical skilled expertise, requirement of high bandwidth and improper functioning under dark light condition could obstruct the growth of market.
Global IP Video Surveillance Market: Segmentation Analysis
By component, hardware segment dominated the market in 2019 and is expected to maintain its dominance and grow t CAGR of XX% during forecast period. Requirement of IP cameras in IP video surveillance system is driving the growth of market. IP cameras provides variety of benefits such as remote surveillance access, two way audio communication via internet, HD image quality, secure data transmission and less equipment over analog cameras are eventually propelling the growth of market. Additionally, software segment expected to witness high growth due to need of video analytics software and video management system software.
Hikvision, the world’s leading supplier of innovative video surveillance products and solutions, launched world’s first Deep Learning NVRs with a new series of IP cameras. The new DeepinView IP Camera Series delivers power and intelligence to boost the value of surveillance system performance across a broad range of security and management applications.
By industry, BFSI and government segments dominated market in 2019 and are expected to witness fast growth of CAGR of XX% during forecast period. Increasing security concerns in financial institutions and governments offices are driving the growth of market. Also rise in adoption of internet of things based video surveillance systems is improving the growth of market. Furthermore, healthcare, retail and manufacturing sectors are also expected to grow at high growth rate. This is owing to increasing adoption of IP video cameras to keep eye on each and every movement in the hospitals, manufacturing companies and others.
Global IP Video Surveillance Market: Regional Analysis
Region wise, North America held the largest market share in 2019 and is expected to keep its dominance and grow at CAGR of XX% during forecast period. The US and Canada have dominated the market. This is owing to the adoption of latest advanced video surveillance technologies and high investments in making smart cities across the region. Also increasing demand of smart IP cameras, IP alarms and IP video intercom systems is driving the growth of market.
In July 2019, Honeywell announced the release of 30 Series IP Cameras, which is a new suite of video cameras that strengthens building safety and security through advanced analytics and secure channel encryption. These cameras help end users from lower total cost of ownership and lower risk as well as improved picture quality without increased storage needs.
The objective of the report is to present a comprehensive analysis of the Global IP Video Surveillance Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global IP Video Surveillance Market dynamics, structure by analyzing the market segments and projects the Global IP Video Surveillance Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global IP Video Surveillance Market make the report investor’s guide.
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The Scope of Global IP Video Surveillance Market : Inquire before buying
Global IP Video Surveillance Market, By Component
• Hardware
• Software
• Service
Global IP Video Surveillance Market, By Industry
• BFSI
• Government
• Manufacturing
• Healthcare
• Retail
• Others
Global IP Video Surveillance Market, By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global IP Video Surveillance Market, Key Players
• Hangzhou Hikvision Digital Technology
• Bosch Security Systems
• Microsemi Corporation
• Netgear
• Cisco Systems
• Panasonic System Networks
• Axis Communications
• Avigilon Corporation
• D-Link Corporation Incorporated
• Genetec
• The Infinova Group
• Geovision
• Matrix Security Solutions
• Kintronics IP security solution
• AvaLAN Networks
• Honeywell
• AxxonSoft
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