Wireless Video Surveillance Market to Garner $64.1 Bn, Globally, by 2031 at 11.9% CAGR: Allied Market Research

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Aug 30, 2022, 05:30 ET

PORTLAND, Ore., Aug. 30, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Wireless Video Surveillance Market by Component (Hardware, Services), by Application (Commercial, Military and Defense, Infrastructure, Residential, Others), by Customer Type (Business to Business, Business to Customer): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global wireless video surveillance industry accounted for $21 billion in 2021, and is expected to reach $64.1 billion by 2031, growing at a CAGR of 11.9% from 2022 to 2031. The report provides an in-depth analysis of changing market trends, key investment pockets, top segments, regional landscape, value chain, and competitive scenario.

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Major Determinants of the Market Growth

Increase in need for safety in high-risk areas, incorporation of Internet of Things, and rise in transition from analog surveillance to IP cameras have boosted the growth of the global wireless video surveillance market. However, dearth of professional expertise and high investment costs hinder the market growth. On the contrary, surge in inclination toward development of smart cities would open new opportunities in the future.

Covid-19 Scenario:

With the governments of various nations imposing lockdown, the production and manufacturing facilities were shut down. The lack of workforce and disrupted supply chain negatively affected the market.
The disrupted supply chain created significant gap in supply chain. Moreover, economic impact of the pandemic has been disruption.
Major market players in the industry witnessed a slowdown due to dearth of availability of skilled professionals to develop industrial 3D printing solutions.

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The Hardware Segment Dominated the Market Growth

By component, the hardware segment held the largest share in 2021, accounting for nearly two-thirds of the market, and is estimated to dominate the global wireless video surveillance market throughout the forecast period, as it plays a vital role in effective operations of the wireless video surveillance system. However, the services segment is expected to register the highest CAGR of 13.4% during the forecast period, as it deals with outsourcing of storage and management of data in a system.

The Infrastructure Segment to Manifest the Highest CAGR Through 2031

By application, the infrastructure segment is expected to register the highest CAGR of 14.19% during the forecast period, due to adoption of wireless video surveillance by government to use it in high alert spaces such as prison. However, the commercial segment held the largest share in 2021, contributing to more than one-fifth of the global wireless video surveillance market, due to its remote monitoring feature that allows data access through web portals and mobile applications.

The Business to Business Segment Held The Lion's Share

By customer type, the business to business segment dominated the market in 2021, accounting for around three-fourths of the global wireless video surveillance market, and is expected to continue its dominance from 2022 to 2031, as wireless video surveillance is considered as essential security technology for businesses. However, the business to customer segment is estimated to showcase the highest CAGR of 12.66% during the forecast period, as major players in the market have adopted B2C business model for their operations for their convenience.

North America Held the Largest Share

By region, the global wireless video surveillance market across North America dominated the market in 2021, holding nearly two-fifths of the market, and is expected to dominate in terms of revenue during the forecast period. This is due to rise in adoption of surveillance system utilizing cameras, expanding smart city efforts, and use of facial recognition applications. However, the market across Asia-Pacific is projected to manifest the highest CAGR of 13.11% during the forecast period, due to heavy investments in infrastructure and smart city projects in various countries in the region along with increase in adoption of IP surveillance systems by the governments of many Asia-Pacific countries to prevent crime.

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Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wireless video surveillance market analysis from 2021 to 2031 to identify the prevailing wireless video surveillance market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the wireless video surveillance market outlook assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global wireless video surveillance market trends, key players, market segments, application areas, wireless video surveillance market forecast and market growth strategies.

Key Market Segments

Component

Hardware

Hardware Type

Camera
Storage Device
Monitor

Services

Service Type

Video Analytics
VSAAS
Integration Services

Application

Infrastructure
Residential
Commercial
Military and Defense
Others

Customer Type

Business to Business
Business to Customer

By Region

North America (U.S., Canada, Mexico)
Europe (France, Italy, Spain, Russia, Poland, Rest of Europe, U.K., Germany)
Asia-Pacific (China, Japan, India, South Korea, Philippines, Australia, Indonesia, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

Major Market Players

Voith
Bellmer
Cellwood
Andritz
Toscotec
Cellie
OverMade Srl
Ihi Corporation
Valmet
Kawanoe Zoki Co., Ltd
Nsk Ltd
Parson
Cnbm Allimand
Kadant Inc.
Recard SPA
Georgia-Pacific Corporation

The report analyzes these key players of the global wireless video surveillance market. These companies have adopted several strategies such as expansion, partnerships, new product launches, collaborations, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.

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