Best Video Surveillance Systems use video cameras for monitoring behavior and activities of people for influencing, managing, directing, or protecting them. These systems are also used for monitoring facilities or places from a distance. Video surveillance is an extremely useful and economical method to ensure the security of people, buildings, and valuables.
The best video surveillance systems market was valued at USD 45.5 billion in 2020, and it is expected to grow at a CAGR of 10.4% from 2020 to 2025 to reach USD 74.6 billion by 2025. Increasing concerns about public safety and security, growing adoption of IP cameras, and rising demand for wireless and spy cameras are the factors driving the growth of the video surveillance market. However, a violation of privacy is a major restraint. Rising government and stakeholder funding for evolving smart cities and employing city surveillance solutions, growing demand for VSaaS services, ongoing technological advancements in Big Data, IoT, and cloud-based services, and rising trends of artificial intelligence and deep learning for video surveillance systems will provide opportunities to players in the best video surveillance systems market during the forecast period. The requirement for high-capacity storage systems and higher bandwidth will pose a challenge to video surveillance market players.
Video analytics enhance video surveillance systems by performing the tasks of real-time event detection, post-event analysis, and extraction of statistical data while saving manpower costs and increasing the effectiveness of the surveillance system operation. Developments related to technological advancements like AI and deep learning have increased the need for launching new and innovative products to tackle the security crisis at every level. AI and deep learning are being adopted in various end-use applications such as crowd management, retail management, and license plate recognition, thus providing opportunities for the best video surveillance systems market.
CATEGORIZATION OF VIDEO SURVEILLANCE SYSTEMS VENDORS ON 360QUADRANTS
25 companies offering Best Video Surveillance Systems were analyzed and categorized on a quadrant under Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Leaders.
Hikvision, Dahua, Axis Communications, Bosch Security and Safety Systems, and Hanwha Techwin have been identified as visionary leaders as they have established product portfolios and a robust market presence and business strategy.
Eagle Eye Networks, Arlo Technologies, and Google Nest have been identified as innovators. They have focused product portfolios, and an innovative business strategy that helps them to set new trends in the market.
Qognify, Agent Video Intelligence, and iCetana have been identified as emerging companies as they have a niche product offering and a decent business strategy that helps them in growing consistently in the market.
FLIR Systems, Panasonic, Pelco, VIVOTEK, and NEC have been recognized as dynamic differentiators as they have an innovative portfolio of solutions and services. The 360Quadrants platform provides the most granular Video Surveillance System comparison between vendors.
360Quadrants conducts an in-depth SWOT analysis and accurately analyses the companies considered for evaluation. This helps service providers in learning about new opportunities and areas where they lag behind their peers. It also helps clients in choosing the most appropriate vendor for their requirements.
In 2019, the Best Video Surveillance Systems market was dominated by Hikvision (China), Dahua (China), Axis Communications (Sweden), Bosch Security and Safety Systems (Germany), and Hanwha Techwin (South Korea). These leading players adopted a few major strategies in the Video Surveillance Systems market which created a significant impact. Strategies comprise product launches, strategic partnerships, and business agreements along with mergers & acquisitions.
Hikvision (China) is one of the leading suppliers of video surveillance products and solutions. The company has a state-of-the-art manufacturing process for innovative CCTV and video surveillance products across 20 locations around the world. Hikvision also offers security, visual management, video content, and Big Data services. The company operates in two major business segments: Video Surveillance Products and Innovative Business Products, which cater to markets such as public security, transportation, judicial systems, education, healthcare, financial institutions, energy, and intelligent buildings. Hikvision also focuses on inorganic growth strategies such as partnerships and collaborations which enable it to incorporate its applications with several other players in the video surveillance domain. As part of its growth strategy, the company should focus on expanding its video surveillance portfolio towards emerging and untapped markets around the globe. Targeting latent opportunities in these markets will help the company to maximize its revenue.
Dahua (China) is one of the leading designers and manufacturers of video-centric smart IoT solutions. Dahua specializes in video surveillance technology, in addition to its established businesses in machine vision, video conferencing systems, professional drones, electronic license plates, RFID, and robotics. Dahua Technology operates in three primary business segments: Solutions, Products, and Others. The company provides security and surveillance solutions, advanced series of front-end and back-end display control systems, and intelligent transportation solutions. It also provides services with customized features and offers professional security and surveillance systems applicable across public security, finance, transportation, energy, communications, and various other industries. The company is focusing on product launches and developments to expand its video surveillance product portfolio, especially in emerging segments such as smart city, smart homes, smart parking, etc. It also plans to increase investments in R&D in an effort to use upcoming technologies such as AI, big data, and cloud computing to develop smart video surveillance products for the urban market.
ABOUT 360QUADRANTS
360Quadrants is the largest marketplace looking to disrupt US $6.3 trillion of technology spends and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. The platform facilitates deeper insight using direct engagement with 650+ industry experts and analysts and allows buyers to discuss their requirements with 7500 vendors. Companies get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in a niche space, to be consumed by giants and startups alike. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide. The platform has around 400 total buyers across various markets.
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15 February 2019, the global Video Surveillance Market is anticipated to tread along a healthy growth trajectory between 2017 and 2025, the forecast period.
Video surveillance finds increased application in banking and financial services, transportation and retail industries, and the manufacturing sector.
For instance, in November 2018, M1, a Singapore-based firm, launched a cloud-based video surveillance service to help businesses and SMEs.
This simple, flexible, and secure end-to-end fully integrated solution aids in self-monitoring and safeguarding business assets and track various activities.Surging adoption of IP cameras has been one of the primary growth stimulants for the market.
Rising cases of crime and terror attacks are encouraging the implementation of video surveillance systems at public places.
On the other hand, lack of unified standardization and need for high initial investments are projected to impede market growth.IP and analog are the two primary types of video surveillance systems.
