Market Research Future published a research report on “IP Video Surveillance Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
IP Video Surveillance Market - Overview
Market Research Future (MRFR), in its new research report, states that the global IP video surveillance market is lucrative and expected to grow exponentially by 2022, recording a striking CAGR throughout the forecast period 2015-2022. MRFR also predicts that the IP Video Surveillance Market might reach approximately USD 25.46 billion by 2023_ registering approximately 12.42% CAGR throughout the period.
Drivers and Restraints
The IP video surveillance is a cutting edge of surveillance technology. The IP video surveillance is connected to a wireless network in which video surveillance can be installed virtually anywhere without cabling. The past decade has observed significant growth in IP video surveillance. Increasing demand for real-time video access, advancement in IP-based technology, the rising requirements of public safety, and the need for reducing the complexity of cabling are driving IP video surveillance. Furthermore, emerging smart city projects will create opportunities for market players during the forecast period.
IP Video Surveillance Market - Segmentation
The IP Video Surveillance Market is segmented on the basis of application, region and component. The component based segmentation of the market is segmented into software and hardware. The hardware component further consists of monitors, cameras, and servers. The software component further contains video management and video analytics. The regions that are covered in the market are APAC, North America, Europe, Middle East, Africa and rest of the world. The application segment of the market comprises of government, manufacturing, BFSI, healthcare, retail and others.
The key players in the global IP Video Surveillance Market include- Avigilon (Canada), Axis Communications. (Sweden), D-Link (Taiwan), Genetec Inc. TM. (Canada), The Infinova Group (U.S.), Bosch Security Systems Inc. (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Panasonic Corporation (Japan), GeoVision Inc (Taiwan) among others.
IP Video Surveillance Market - Regional Analysis
The analysis of the market has led to the observation that the IP Video Surveillance market in the North American region is estimated to observe a substantial growth period and control a significant market share in the duration of the forecast period. Countries such as Canada and U.S are estimated to initiate the growth uptick of the North American market for IP video surveillance due to the existence of a huge number of established key players. The North American region also possesses a well-established infrastructure, which permits greater of penetration of devices which eventually offers better connectivity. Growing need for innovations and advancements in the technology are other key factors accountable for the growth in the IP Video Surveillance market. Additionally, the Asia Pacific region is predicted to observe a comparatively faster adoption rate due to a high CAGR during the forecast period as compared to other regions due to the amplified growth of IT infrastructure and telecommunication, developing economies and the technological progress in IP video surveillance in the region.
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