New York, USA, April 19, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global 3D surveillance software market is envisioned to generate a revenue of $211.5 million and rise at a healthy CAGR of 7.0% throughout the analysis timeframe from 2022 to 2031.
As per our analysts, with the increasing demand for video surveillance across businesses for security, transit applications, and other areas, the 3d surveillance software market is expected to witness remarkable growth over the estimated period. Besides, the increasing incorporation of artificial intelligence in video surveillance streams to detect unusual activity in real-time is further expected to foster the growth of the market throughout the forecast period. Furthermore, the various advantages associated with 3D surveillance software such as easy and effective installation, remote monitoring facility, and easy accessibility are expected to create huge growth opportunities for the 3D surveillance software market over the analysis timeframe. However, the lack of awareness among the population and the high cost involved in setting up 3D surveillance software may restrict the growth of the market during the forecast timeframe.
Segments of the 3D Surveillance Software Market
The report has divided the market into segments based on application, deployment, and region.
Application: Industrial Sub-Segment to be Most Productive
The industrial sub-segment held the largest share of the market in 2021. The increasing use of 3D surveillance software helps industries and organizations optimize their business processes and ensure business continuity is expected to propel the growth of the market sub-segment over the analysis timeframe.
Deployment: Cloud Based Sub-Segment to be Most Profitable
The cloud-based sub-segment accounted for the biggest market share in 2021 and is expected to experience the fastest growth over the estimated timeframe. This is mainly because cloud-based 3D surveillance software is cost-effective. Moreover, the increasing demand for cloud-based 3D surveillance software to ensure data security with various encryption standards and for offering ease of data sharing & editing options is expected to upsurge the growth market sub-segment over the forecast period.
North America Region Held the Maximum Market Share in 2021
The North America region of the 3D surveillance software market generated the biggest share of the market in 2021. The increasing augmentation of cloud-based 3D surveillance software technology and extensive deployment of video surveillance cameras across several nations of this region to ensure security and reduce crime are expected to drive the regional growth of the market over the estimated timeframe.
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Covid-19 Impact on the 3D Surveillance Software Market
The rise of the novel coronavirus has devastated several other industries by causing numerous uncertainties and huge revenue losses. However, it has had a positive impact on the 3D surveillance software market. This is mainly because of the increasing demand for 3D surveillance software across industries during the pandemic to ensure safety. Moreover, the rising popularity of 3D surveillance software across the commercial and residential sectors to secure belongings against fire, burglary, or theft has further increased the market growth over the crisis.
Key Players of the 3D Surveillance Software Market
The major players of the market include
- Dallmeier Electronic GmbH & Co. KG
- MIRASYS
- Northern Digital Inc.
- Tacticware Resource Group LLC
- Noitom Ltd.
- Cambridge Pixel Ltd.
- OptiTrack
- Surveill 3D
- Vicon Motion Systems Ltd.
- Hexagon
These players are mainly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry.
For instance, in January 2022, Hexagon, a global provider of information technology solutions, announced its acquisition of Immersal Oy, a leading developer of immersive AR cloud SDK for visual positioning and mapping solutions. With this collaboration, the companies aimed to provide context-specific 3D information across a variety of business cases by mapping large indoors and outdoors such as engine rooms, airports, warehouses, and many more.
Further, the report also presents other vital aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about 3D Surveillance Software Market:
- Exploring the World of 3D Surveillance Software: Trends and Insights
- Increasing Demand for Video Surveillance Across Various Businesses to Foster the Growth of the Global 3D Surveillance Software Market by 2031
