Video Surveillance Market Future Prospects With Covid-19 Impact Analysis 2025
Posted by BIS RSRCH on January 27th, 2021
Increasing competitive advantages of video surveillance over conventional physical surveillance techniques have made video surveillance an essential system for homeland security and commercial applications. Factors such as low operation cost, rapid deployment, and large coverage area of surveillance cameras have led to an increase in its adoption in defense and infrastructure sectors. Moreover, do-it-yourself (DIY) methods of video surveillance has facilitated the wider adoption of video surveillance systems by the homeowners. Additionally, the growing coverage of Internet of Things (IoT) ecosystem enables the consumer to monitor the video footage of his/her house/object over the virtual network through gadgets.
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The video surveillance market research study offers a wide perspective on the analysis of the industry. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
The evolution in video surveillance technologies has significantly changed the overall surveillance industry in terms of providing increased safety, cost-effectiveness, and convenience to the users. The video surveillance industry is expected to go through a metamorphic phase involving an unprecedented period of innovation and disruption. The video surveillance market, as a whole, is growing at a significant rate and is expected to reach a substantial level by 2025. Advanced video surveillance systems are easy to install and maintain, provide remote monitoring capabilities, and offers longer retention for recorded video footage with consistency in image and video quality.
Moreover, the video management systems are gaining popularity, and the sector is expected to grow at a robust rate in the coming five years (2020-2025). The video surveillance market is witnessing a pattern of transition due to the increasing market penetration of IP cameras in various application sectors for their high clarity and image responsiveness.
The increase in security concerns and the growing need for highly efficient, time-saving surveillance systems at reasonable costs, is one of the matters to be looked upon in the current scenario. The attempt to deliver such solutions with the growing application across many verticals is considered as one of the major drivers for the video surveillance industry. With the increasing security concerns, along with rising initiatives by the government to spend on surging digitization and smart cities, the number of cameras being used for video surveillance is also increasing. The governments of various nations are deploying video cameras on a massive scale in order to create stronger security systems for their respective countries. These video surveillance systems provide various benefits, such as asset and theft protection, remote monitoring services, gathering evidence to help legal authorities to arrive at the right decisions, increased workplace productivity, and traffic management via automatic license plate recognition. Some private sectors, including banking and finance, hospitals, research labs, sports facilities, corporate headquarters, and auditoriums also require cutting-edge video surveillance technology with improved security features whereas commercial and residential sectors may require cost-effective and efficient cameras solutions, such as zoom-specific cameras and low-light cameras.
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One of the major factors that has led to the increasing adoption of these video surveillance systems has been the rise of IP camera-based solutions. This can be attributed to the fact that it allows the users to convert their local broadband connection into a home surveillance system. These cameras provide several benefits compared to traditional analog cameras, such as low cost and high durability. Further, IP cameras provide high-resolution images and wide-angle video capturing feature and also allows authorized access to live and recorded video footage on smartphones and tablets. One of the major benefits of using IP surveillance systems has been cloud storage, which makes the video surveillance system more effective. With the rise of built-in wireless connection, the IP cameras have become subtle and discreet, avoiding unnecessary attention.
