Video Surveillance Market Competitive Overview and Regional Forecast To 2025

Posted by BIS RSRCH on November 23rd, 2020

With the rising privacy concerns, the demand for bandwidth in order to set up a video surveillance system is one of the major concerns. The major challenge in providing cloud-based video services is the lack of available bandwidth. High bandwidth internet connection is required for the rapid transmission of data with a shorter response time, which may not be available at remote locations. Since real-time analysis and detection are not possible at such locations, they pose as a challenge against the deployment of video surveillance systems.

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The rise in public security concerns is expected to create the need for the deployment of more surveillance systems. Further, governments of various countries are deploying video cameras on a large scale to create a stronger security system for their respective countries. With a greater number of cameras being installed globally, there arises an impending need for more people to monitor those cameras. It is extremely difficult and expensive to employ and manage a workforce big enough to monitor those many cameras. However, this issue can be solved by utilizing video content analytics (VCA), video surveillance as a service (VSaaS), and real-time analytics.

Video analytics has the ability to reduce the huge amount of data available in the video, thus making it more controllable. The benefits of video analytics include reduced load on network and storage demand, easy and fast retrieval of stored video, and productive use of manpower, among others. Moreover, in case of any abnormal activity, the system raises an alarm to alert the concerned officials. Additionally, with the advantage of analyzing live as well as recorded data, the need for reviewing the recorded data by a human operator, which is a quite expensive resource, has been eliminated. These features, along with the numerous technological advancements, such as facial recognition and automatic license plate recognition, make the video surveillance cameras appropriate for application in different verticals, especially in the current scenario. Therefore, with the help of VSaaS, and video analytics, the time and monetary benefits can be availed by the installer. Bosch Security Systems and Honeywell are some of the major market players providing video analytics-based solutions. Below are some instances which highlight the demand for VCA and VSaaS.

The emerging need for employing more technologically enhanced equipment in the video surveillance systems can be attributed to the constant movement from the distant age of conventional video surveillance to data-driven video surveillance systems. The video surveillance equipment market includes camera, storage units, and monitors, among others. With the new platforms and aspects of video surveillance application such as onsite monitoring, man-tracking, wide-angle perimeter protection, and cloud-based surveillance, there has been a proportionate increase in the demand for related equipment such as HD display monitors, IP encoder, and decoder.

The video surveillance market has been witnessing a rapid transition from analog-based surveillance systems to digital or networked systems. In digital surveillance, the use of higher resolution cameras for high definition images implies better and more detailed video evidence. However, large and detailed images require appropriate technical solutions to efficiently store the videos which must be accessible as and when required. In this section, the presently available storage technologies and their impact on a surveillance system design have been discussed. Various players, including VMware, Microsoft, and Xen, are providing constant support for using storage area networks (SANs), direct-attached storage (DAS), and network-attached storage (NAS), which in turn foster the growth of the market. Further, many industries are expanding into businesses to cover many applications, including business intelligence, enterprise resource planning, supply chain reengineering, and customer relationship management. Such expansion requires reliable storage systems which able to protect and manage critical information. Thus, it is expected to create a large demand for IT solution providers to offer enhance storage services for efficient work of these businesses.

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Video surveillance is on the verge of becoming an indispensable and ubiquitous tool for security systems across the globe. With the extensive public acceptance of the video surveillance systems for ensuring safety and security, the market for surveillance equipment has considerably changed. These systems are increasingly being employed in public as well as private sectors. This increase can be primarily attributed to the increasing implementation of connectivity solutions, and the growing trend to deploy integrated solutions across end-user applications. Moreover, the rising need for safety and security of infrastructure and people has further facilitated the proliferation of surveillance systems among the consumers.

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