DUBLIN--(BUSINESS WIRE)--The "Global Network Video Recorder Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
The Global Network Video Recorder Market is expected to register a CAGR of 10.9% during the forecast period (2022-2027).
Companies Mentioned
- Axis Communications AB
- Tyco International Ltd.
- Honeywell International Inc.
- Panasonic
- Surveon Technology Inc.
- Dahua Technology Co., Ltd.
- Hangzhou Hikvision Digital Technology
- D-Link Corporation
- Teledyne FLIR LLC
- Avigilon Corporation
- VIVOTEK Inc.
- Synology Inc.
Key Market Trends
Increasing Adoption across Various End-User Industries is expected to drive market growth
- Network video recorders are finding applications in several end-user industries like transportation, defense, healthcare, etc. They are being installed in establishments such as government buildings, hospitals, military bases, and numerous other buildings to enhance security.
- The transportation sector has made the value of video-based surveillance solutions glaringly clear. With the advent of AI, cameras have been changed from a common monitoring tool to one that may enable this business to prevent accidents. When used with information and communication technology (ICT), video equipment can help control traffic more effectively, deal with violations more quickly, lower accident rates, and increase compliance. These systems offer comprehensive vehicle identification by reading license plates, categorizing them into groups, and calculating their speed. They also provide sophisticated traffic monitoring. Additionally, it enables the detection of unusual circumstances like traffic jams and unexpected roadblocks.
- In May 2022, Tamil Nadu Chief Minister M K Stalin launched an Artificial Intelligence (AI)-enabled panic button-cum-CCTV surveillance project in 500 Chennai buses as part of an initiative to improve the safety of women and children. The state transport department has planned to provide this facility in about 2,500 buses under the Nirbhaya safe city project, and in the first phase, 500 buses in the metro city have been provided with four panic buttons, AI-enabled Mobile Network Video Recorder (MNVR) and three cameras each, respectively. The MNVR would be connected to a cloud-based control center via a 4G GSM SIM card. In case of any inconvenience or threat caused by fellow passengers while travelling, the women passengers could press the panic button to record the incident. While doing so, an alarm (bell) would be raised at the control center, along with a video recording of the incident on the bus. With this alarm, the operator at the control center would monitor the situation and facilitate, in real-time, the next course of action.
- In June 2022, the Delhi government started the second phase of its project to install 280,000 CCTV cameras across the national capital. The government is also setting up Wi-Fi networks and around 35,000 Wi-Fi routers, which will be installed along with cameras in the second phase.
The Asia Pacific Region is Expected to Witness Significant Market Growth
- Rising infrastructure developments and smart city projects across the Asia Pacific are anticipated to drive market growth. Also, the increasing investments by various governments in smart city projects are likely to provide lucrative opportunities for market players.
- For instance, the Indian government's ambitious Smart City Mission was introduced in 2015 with the goal of creating 100 smart cities that can serve as replicable models for other communities in terms of their basic infrastructure and healthy, sustainable environments. The mission's initiatives are being completed more quickly than any other government program. The government said that all Smart City Mission projects it has supported would be finished by the end of 2023. Smart Cities Mission, which was launched on 25th June 2015, envisaged a total investment of INR 2,05,018 crore.
- Further, in November 2021, a group of architects revealed their plans for an ambitious neighborhood in South Korea's capital, Seoul: a 10-minute city. Dubbed"Project H1," the development is set to transform an old industrial site into an interconnected"smart" city. Combining eight residential buildings with co-working offices and study spaces, the 125-acre district is also set to house entertainment venues, fitness centers, swimming pools, and even hydroponic urban farms.
- The market for NVR systems in the APAC region is anticipated to benefit from the rising retail sector. For Instance, according to Singapore Department of Statistics, retail sales climbed 12.1% year over year in April 2022, continuing the 8.8% year over year growth in March 2022. Retail sales increased 17.4% when motor vehicles were excluded, compared to 13.6% in March 2022.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Value Chain Analysis
4.4 Assessment of the Impact of Covid-19 on the Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Convenience of connecting with multiple video surveillance cameras to store data
5.1.2 Rising Smart City Initiatives
5.1.3 Growing Safety Concerns
5.2 Market Restraints
5.2.1 Gradual replacement with XDR
5.2.2 Rising Concerns Regarding Cybercrime
6 MARKET SEGMENTATION
6.1 by Application
6.2 by Geography
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 INVESTMENT ANLSYIS
9 FUTURE OUTLOOK OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/3wcedz
