Chicago, June 07, 2023 (GLOBE NEWSWIRE) -- According to a research report China Video Surveillance Market by Offering (Hardware (Camera, Storage Device, Monitor), Software (Video Analytics, VMS), Service (VSaaS)), System (IP, Analog, Hybrid), Vertical and Geography (North America, Europe, APAC, RoW) - Global Forecast to 2027", published by MarketsandMarkets, China Video Surveillance Industry to Grow at a CAGR 11.4% from 2022 to 2027.
Substantial investments by the Chinese government in infrastructure and public security projects
China is a major player in the global video surveillance industry, with the presence of large number of video surveillance systems providers in the country. More than 30% of the global revenue is collected from Chinese firms such as Hangzhou Hikvision Digital Technology Co., Ltd., Dahua Technology, and Uniview Technologies. It boasts the world's largest surveillance network, accounting for over half of all surveillance cameras deployed globally.
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The National Development and Reform Commission has revealed that all major public areas in China are set to be protected by video surveillance cameras with facial recognition technology to curb crime and ensure social stability. The trend toward utilizing artificial intelligence (AI) and machine learning (ML) technologies is on the rise. As a result, advanced features like facial recognition, object detection, and behavior analysis have become increasingly accessible and are being utilized in various fields such as public safety, transportation, and retail.
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China's ongoing infrastructure projects, including railways, airports, stadiums, and highway systems, are expected to require high-definition wireless surveillance systems capable of capturing clear images even in low-light conditions. The Chinese government's smart city initiatives and city surveillance projects for infrastructure development are driving the widespread adoption of video surveillance systems in the country.
With more than 500 smart city projects that incorporate video surveillance cameras and solutions for safety, security, and continuous monitoring applications, China's continuous development of new smart cities is expected to further drive the growth of the global video surveillance industry. According to statistics from the district government of Beijing, in 2022, the city of Beijing has introduced a program to incentivize high-tech companies with subsidies, leading to the establishment of 1,900 such enterprises in the Fengtai District.
Top Key Market Players in Video Surveillance companies
- Hikvision (China),
- Dahua Technology (China),
- Axis Communications (Sweden),
- Bosch Security and Safety Systems (Germany),
- Hanwha Techwin (South Korea),
- Avigilon (Canada),
- Teledyne FLIR (US),
- Honeywell International; (US),
- Panasonic i-PRO Sensing Solutions (Japan),
- Pelco (US), Uniview (China).among others
See Also :
Japan Video Surveillance Market
Germany Video Surveillance Market
UK Video Surveillance Market
South Korea Video Surveillance Market
France Video Surveillance Market
