New York, US, May 03, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “IP Video Surveillance Market” information by Components, by Application and Region – Forecast to 2030” market size to reach USD 80.94 billion, growing at a compound annual growth rate of 12.7% by 2030.
Market Scope:
IP video surveillance offers a reliable, scalable, flexible and smart video management system for top-class surveillance. IP video surveillance solutions are developed to deliver proficient, persistent, and preventive security for large enterprises around the clock. These systems are increasingly adopted in various sectors to deliver customized solutions adapting to evolving technology.
Video surveillance systems are often subjected to security risks, and circumventing security challenges faced by different industries has always been a major concern worldwide. With growing terrorism and crimes, the need for foolproof security increases in the government and private sectors.
Organizations, especially ones with expanded footprints, need infallible security to ensure the safety and security of the most valuable asset of any organization. Centralized IP-based VDO surveillance solutions are imperative to managing multi-location offices.
Video management software also provides intelligent video analytics to improve productivity, mitigating complex security threats, making processes simpler, and notifying authorized users in real-time. This leads to better management and analysis of future events in enterprises.
Dominant Key Players on IP Video Surveillance Market Covered are:
- Microsemi Corporation (US)
- Hangzhou Hikvision Digital Technology Co. Ltd (China)
- Bosch Security Systems Inc. (Germany)
- Cisco Systems Inc. (US)
- Netgear Inc. (the US)
- Avigilon Corporation (US)
- Genetec Inc. (Taiwan)
- Axis Communications AB (Sweden)
- The Infinova Group (US)
- D-Link Corporation Incorporated (Taiwan)
- Geovision Inc. (Taiwan)
- Panasonic System Networks Co. Ltd. (Japan)
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Market USP Exclusively Encompassed:
Market Drivers
A dominant trend observed in the market is the rising need for efficient and advanced video surveillance in public & private infrastructures across the globe. Besides, increasing advances in wireless monitoring and surveillance systems drive market growth. Rapid urbanization and economic growth worldwide positively other driving forces boosting the market size.
IP video surveillance solutions are increasingly replacing traditional systems. Moreover, the growing awareness of the advantages of video surveillance technologies, such as cost-effective monitoring and surveillance solutions, allows the market to garner significant traction worldwide.
Increasing deployments of IP-based video surveillance setups offering many benefits previously unavailable with analog CCTV systems influence the market value. Smart video management is imperative in security and access control systems.
Based on the TCP/IP network protocol, IP video surveillance enables users to monitor and record video remotely and improve storage capabilities. The rising demand for surveillance solutions right from site survey and installation and advances in a variety of network solutions that support IP video surveillance substantiate market revenues.
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Segmentation of Market Covered in the Research:
The report is segmented into types, specifications, end-users, and regions. Of these, the type segment comprises IP/ network surveillance (IP camera, NVR, encoder/ decoder, others), analog surveillance (analog camera, DVR, others), video surveillance software (VMS, video analytics, others), and others.
The specification segment comprises outdoor/ indoor, megapixel, form factor, ONVIF compliant, PTZ, and others. The end-user segment comprises government & transportation, banking & financial, retail & logistics, industrial & manufacturing, residential, commercial offices, educational institutions, hospitality & healthcare, and others. The region segment comprises America, Asia-Pacific, Middle East & Africa, Europe, and rest-of-the-world.
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Regional Analysis
The Asia Pacific region accounts for the largest share of the global IP video surveillance market. Factors such as the strong presence of technology providers and the spurring rise in defense, healthcare, and law enforcement boost the market growth in this region. Besides, the rising infrastructure security budgets foster the market value.
Also, increasing upgrades in technologies and surveillance technologies drive the market demand. Moreover, the growing adoption of advanced telecommunication technologies and surveillance & monitoring systems in the region impacts the market revenues positively. The APAC is likely to retain its dominance over the global IP video surveillance market throughout the assessment period.
North America is another lucrative market witnessing tremendous growth in the IP video surveillance industry. The spurring rise across industrial sectors in the region, alongside advances in features & technologies and video surveillance cameras, impacts the overall market growth in North America.
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Competitive Landscape
The IP video surveillance market would witness various strategic approaches, such as collaboration, expansion, mergers & acquisitions, and advanced technologies integration. Major industry players make strategic investments in driving research and development activities and fostering their expansion plans. The market is likely to witness several product launches.
For instance, on Apr 15, 2022, CyberLink Corp., a pioneer in AI and facial recognition technologies announced an update to its facial recognition security software, FaceMe Security, integrating it with AXIS Camera Station VMS (video management software) of AXIS Communications.
The upgraded system creates a robust, unified platform that brings facial recognition to security and access control applications by AXIS. In addition to existing IP surveillance configurations with AXIS cameras and VMS, users can now layer interest detection, group tagging, management, and visitor summaries.
AXIS is a global leader in the intelligent security solution space, integrating video recorders, network cameras, workstations, and video management systems. AXIS Camera Station is an easy-to-use and efficient VMS platform, offering video surveillance and access control applications.
Over the past decade, Axis Communications changed the video surveillance landscape, continually pushing the boundaries, especially in IoT innovation and connected security devices. On Apr 1, 2022, Axis unveiled its new generation of connected security devices at ISC West 2022.
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