LONDON--(BUSINESS WIRE)--The global video surveillance market is expected to post a CAGR of close to 11% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the need to mitigate criminal activities and terrorist attacks. The threat of sophisticated criminal and terrorist activities is increasing across the world. The increasing number of terrorist attacks, especially in countries such as the US and the UK, has necessitated the deployment of video surveillance solutions. Video surveillance solutions are also deployed to curb anti-social activities such as intrusion, murder, robbery, and theft. Therefore, the deployment of video surveillance enables a safe and a crime-free environment and helps improve the quality of life for citizens.
This market research report on the global video surveillance market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the advent of AI-based video surveillance as one of the key emerging trends in the global video surveillance market:
Global video surveillance market: Advent of AI-based video surveillance
The advent of AI-based video surveillance has transformed video surveillance from being just a passive deterrent tool. AI brings in smart automation to analyze large volumes of surveillance data to derive intelligent insights. AI can accurately analyze live video streams in real time with limited or no assistance from people. Moreover, AI can compensate human errors by offering a superior standard of facial, faceless, behavioral, and object detection. Moreover, smart AI-based video surveillance systems have features such as intrusion detection, motion and speed detection, object classification, behavioral analysis, GPS mapping, and vehicle tagging and tracking. Therefore, AI-based methodologies are expected to be integrated with video surveillance, which will improve crime spotting and prevention.
“Video surveillance solutions can be used to track and apprehend criminals and provide conclusive evidence in court. Currently, several vendors are seen developing solutions to identify crimes before they happen. Therefore, the advent of smart AI along with the development of innovative solutions is expected to boost the growth of the market during the forecast period,” says a senior analyst at Technavio for research on IT security.
Global video surveillance market: Segmentation analysis
This market research report segments the global video surveillance market by product (hardware, software, services), end-users (public, commercial, and residential), and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2017 with a market share of close to 46%, followed by the Americas and EMEA respectively. However, during the forecast period, the Americas is expected to show the highest incremental growth followed by the EMEA region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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