Pune, India, July 31, 2019 (GLOBE NEWSWIRE) -- IP Video Surveillance Market
The global IP video surveillance market report was released by Market Research Future (MRFR). In which, it was noted that the global market will garner a CAGR of approximately 12% over the forecast period of 2017 to 2023.
Market Overview
IP video surveillance is referred to as an amalgamation of digitized and networked video surveillance monitoring. They are also referred to as a digitized and networked form of CCTV. In a video surveillance system, an IP camera takes a video footage and the recorded content is transferred to an IP network.
Increasing Need for Security to Drive the Global Market
The growth of the IP video surveillance market is supported by the initiatives undertaken by the various local and national governments to curb down security threats that may arise from terrorists and other perpetrators. The imperative need for better surveillance capabilities and a growing focus on preventing potential attacks has prompted governments to take notice and think of measures to prevent such crisis.
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Multiple Factors Boosting the Market Growth
Increasing penetration of video surveillance across different industries has accelerated the growth of the global IP video surveillance market. To ensure optimal personnel as well as public safety, process and product quality level, and site security, an efficient monitoring of the various industrial activities is important. Add to this, the convergence of cost-effective high resolution and high-quality video monitoring has boosted the adoption and demand for these devices.
The cut-throat competition present in the market has led to the development of high-definition advanced video surveillance cameras at cost-effective ranges, thereby pushing the growth of the market. Not to forget, the development of internet infrastructure and connectivity is boosting the growth of the market in a positive manner.
In addition to all these pointers, the growth of the market is also assisted by the rising crime rate across the globe, growing need for proper security measures, and higher awareness concerning security and the benefits of IP video surveillance.
However, the lack of storage facilities and issues related to privacy are anticipated to cause hindrance to the overall growth of the IP video surveillance market during the forecast period.
Hardware Segment Leading the Component Category of the Market
The component segment of the global IP Video Surveillance Market was divided into hardware and software. The hardware segment has been further divided into monitors, cameras, and servers. While the software segment is narrowed down into video management and video analytics.
The hardware segment held the highest share in the global market back in 2016. However, the software segment is anticipated to garner a CAGR of 15.01% over the forecast period.
Under the hardware segment, the camera sub-segment enjoyed a majority of the market share back in 2016. While the server sub-segment is anticipated to be the fastest growing over the forecast period.
Under the software segment, the video management sub-segment was leading the market charts back in 2016. While the video analytics sub-segment is projected to gain massive traction over the forecast period and go beyond the video management sub-segment by the end of the forecast period.
Regional Analysis
Among the regions covered in the global IP video surveillance market, North America stood tall with the highest share percentage to its name. The increasing speed of technological adoption has led to a widespread penetration of IP video surveillance across various industries in North America. Additionally, the presence of various major players in the region, high disposable income, and well-established infrastructure in the region are some of the other key factors influencing a positive growth of the market in this region.
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Competitive Landscape
The global IP video surveillance market hosts a number of key players. The presence of these players is pushing the overall growth and development of the market. Some of the leading and emerging names identified in the market are: Avigilon Corporation (British Columbia), Panasonic System Networks Co., Ltd. (Japan), Geovision Inc. (Taiwan), Axis Communications AB (Sweden), Microsemi Corporation (U.S.), Bosch Security Systems Inc. (Germany), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Netgear, Inc. (U.S.), The Infinova Group. (U.S.), Cisco Systems, Inc. (U.S.), and Genetec Inc. (Canada).
June 2019, Digital Watchdog announced the launch of its all new 5 Mega Pixels completely universal HD over Coax (UHDoC) surveillance solution. The video surveillance solution includes features like UHDoC DVRs, an all-new ultra-low-light UHDoC cameras, C3 CMS, and a remote management software.
June 2019, FlareBright, a British-based startup, recently launched and is currently marketing a new micro-UAV product that uses a unique methodology for launch and flight. The device boasts its applications in emergency services, law enforcement, industrial inspection, site security, and other areas. The drone is named as SnapShot. It can be launched or fired from a variety of hand-held devices. It has a wingspan of 12 cm and weighs just about 85 grams.
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