DALLAS, Oct. 25, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global video surveillance market looks promising with opportunities in the commercial, government, transportation, and residential sector. The global video surveillance market is expected to reach an estimated $39.3 billion by 2023 and it is forecast to grow at a CAGR of 9.3% from 2018 to 2023. The major growth drivers for this market are increasing awareness for safety and security, increasing crime rate, and growing adaptation of internet protocol (IP) cameras.
Browse 88 market data tables and 103 figures spread through 195 pages and in-depth TOC on “Global Video Surveillance Market" at https://www.lucintel.com/video-surveillance-market-2018-2023.aspx
In this market, analog, IP, and others are used for video surveillance manufacturing for system. Lucintel forecasts that IP surveillance system is expected to remain the largest system type, and is also expected to witness highest growth due to growing development of smart city and smart home applications. Additionally, technological innovations, real-time access, integration of wireless technologies, video analytics, and affordability are the factors driving the growth of the IP camera market.
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Asia Pacific is expected to remain the largest market, and is also expected to witness the highest growth over the forecast period due to the increasing number of hotels, banking & financial institutions along with small and medium enterprise growth in China, India and other emerging nations.
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Emerging trends, which have a direct impact on the dynamics of the video surveillance industry, include advanced 360-degree camera technology, utilization of Vizsafe platform services, and enhanced camera capabilities for Video Management Systems. Hangzhou Hikvision Digital Technology Co., Ltd., Zhejiang Dahua Technology Co., Ltd, Bosch Security Systems, Honeywell International Inc., and Axis Communication among others are among the major suppliers of video surveillance.
Lucintel, has analyzed and forecast the growth opportunities for global video surveillance market by product and services, system, end use industry, & region, and compiled a comprehensive research report entitled “Growth Opportunities in the Global Video Surveillance Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.