Surveillance Market to Reach USD 67670 Million by 2027 at a CAGR of 9.6% | Valuates Reports
BANGALORE, India, Nov. 10, 2021 /PRNewswire/ -- The Surveillance Market is Segmented by Type (Camera, Software & Services, Other Hardware), by Application (Residential Use, Commercial Use and Public & Government Infrastructure). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Security Products & Services Category.
In 2020, the global Surveillance market size was USD 34790 Million and it is expected to reach USD 67670 Million by the end of 2027, with a CAGR of 9.6% during 2021-2027.
Major factors driving the growth of the surveillance market are:
Increasing need to monitor the public, commercial and residential areas to ensure the safety of people is expected to drive the growth of the surveillance market. Surveillance systems employ video cameras to keep an eye on people, facilities, or locations from afar. Video surveillance is a very effective and cost-effective way to protect people, buildings, and possessions.
Increased hardware capabilities of video cameras are expected to further augment the surveillance market growth. Many cameras now come with a built-in microphone that can transmit and record audio while the video is being recorded. Manufacturers have also implemented a variety of hardware innovations to increase video camera low-light performance.
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TRENDS INFLUENCING THE SURVEILLANCE MARKET
Wide-scale adoption of surveillance cameras in emerging countries for setting up in public areas and traffic signals is expected to drive the growth of surveillance market growth. For governments all around the region, public safety has become a critical function. As cities grow, video surveillance becomes an increasingly important tool for tracking population movement and combating crime.
Moreover, the increasing adoption of surveillance cameras is expected to boost the growth of the surveillance market. Manufacturing, banking, and financial services, transportation, and retail are among the businesses that use video surveillance the most. Due to the vast size of these industries and increased customer awareness, surveillance camera adoption is high in these industries.
Surveillance market growth is projected to be aided by increased hardware capabilities of video cameras. Many cameras now include a built-in microphone that can broadcast and capture audio as well as video. In order to improve video camera low-light performance, manufacturers have used a range of hardware advancements. Thus, a variety of factors, such as expanded camera capabilities, features, and customized systems, are making it easier for integrators to satisfy the demand from end customers looking to modernize aging surveillance systems to suit their security and operational requirements.
The rise of smart cities and IoT are expected to provide future growth opportunities for the market as modernized cities require innovative solutions to overcome long-term security challenges.
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SURVEILLANCE MARKET SHARE ANALYSIS
Based on type, the Camera segment held the largest surveillance market share of about 42 percent.
Based on application, report data showed that 13% of the Surveillance market demand is in Residential Use, 36% in Commercial Use, and 49% in Public & Government Infrastructure.
Based on region, China is the largest consumption region of Surveillance, with a consumption market share of nearly 38%. The second place is North America; following China with a consumption market share of over 20%. Europe is another important consumption market of Surveillance.
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Top Companies in the Surveillance market:
The top 3 players are Hikvision, Dahua Technology, and Axis Communications AB, with about 33% market shares.
- Hikvision
- Dahua Technology
- Axis Communications AB
- Panasonic
- Honeywell Security
- Hanwha
- United Technologies
- Tyco
- Bosch Security Systems
- Pelco
- Huawei Technologies
- Siemens AG
- Avigilon Corporation
- Uniview
- Flir Systems, Inc.
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SIMILAR REPORTS
- The global video surveillance market size was valued at USD 42.94 Billion in 2019, and is projected to reach USD 144.85 Billion by 2027, registering a CAGR of 14.6% from 2020 to 2027.
- The global trade surveillance systems market size was valued at USD 780.26 Million in 2020, and is projected to reach USD 2.25 Billion by 2028, growing at a CAGR of 14.2% from 2021 to 2028.
- In 2020, the global IP Camera market size was USD 3216 Million and it is expected to reach USD 7559.5 Million by the end of 2027, with a CAGR of 13.6% during 2021-2027.
- Global Video Surveillance as a Service Market Size, Status and Forecast 2021-2027
- In 2020, the global Coastal Surveillance market size was USD 658.4 Million and it is expected to reach USD 809 Million by the end of 2027, with a CAGR of 2.4% during 2021-2027.
- The global Drone Surveillance market size is projected to reach USD 506.8 Million by 2027, from USD 202.1 Million in 2020, at a CAGR of 14.0% during 2021-2027.
- The US video surveillance market was valued at USD 8.29 Billion in 2019, and is projected to reach USD 23.60 Billion by 2027, registering a CAGR of 13.9% from 2020 to 2027.
- In 2020, the global Security & Surveillance market size was USD 14900 Million and it is expected to reach USD 26420 Million by the end of 2027, with a CAGR of 8.5% during 2021-2027.
- The global Mobile Video Surveillance market size is projected to reach USD 1908.2 Million by 2026, from USD 1401.9 Million in 2020, at a CAGR of 5.3% during 2021-2026.
- The global TSCM (Technical Surveillance Countermeasures) market size is projected to reach USD 219.3 Million by 2027, from USD 153.1 Million in 2020, at a CAGR of 5.3% during 2021-2027.
- The global Commercial Aircraft Video Surveillance Systems market size is projected to reach USD 851.2 Million by 2027, from USD 598.8 Million in 2020, at a CAGR of 4.7% during 2021-2027.
- The global Airborne ISR (Intelligence, Surveillance & Reconnaissance) market size is projected to reach USD 36110 Million by 2027, from USD 25970 Million in 2020, at a CAGR of 4.4% during 2021-2027.
- In 2020, the global Primary Surveillance Radar market size was USD 431.4 Million and it is expected to reach USD 523.4 Million by the end of 2027, with a CAGR of 2.8% during 2021-2027.
- The global Airborne Surveillance market size is projected to reach USD 4950.6 Million by 2027, from USD 3993.3 Million in 2020, at a CAGR of 2.7% during 2021-2027.
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