AT 3.8% CAGR during 2018-2028, Global Surveillance Market to Expand due to Rising Defense Activities
Pune, Maharashtra, November 12, 2019 (Wired Release) Prudour Pvt. Ltd. The global Surveillance market is projected to be US$ 32,800.0 Mn in 2018 to reach US$ 95,328.5 Mn by 2028 at a CAGR of 10.7%.
A surveillance system monitors the behaviour, activities, or other changing information, usually, of people from a distance using electronic equipment. Surveillance systems consist of several equipments like Camera, monitor, drone systems and other equipment. Global surveillance market is expected to see robust growth in the forecast period owing to the rapid increase in the number of CCTV cameras and surveillance systems in commercial and residential buildings or apartments. Increased concern about women’s safety and growing global security threats are some of the other factors that have helped the market to grow with a rapid pace. Due to the increased usage of surveillance systems in emerging nations as well as developed economies, the market is anticipated to see high growth in the forecast period.
Growth of target market is expected to drive by the factor such as safe city and smart city projects coming up in major cities of the world. Growth of cinema halls and shopping malls globally. Increased installation of surveillance systems in university and college campuses. Rapid growth in the banking sector and number of ATMs and thus increased usage of cameras in this sector. Increasing usage of cameras by the defence ministries of many countries for national security is estimated to drive consumption of Surveillance.
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However, New and more expensive technologies are expected a major factor expected to hinder the growth of the target market. Also, lack of industry standards and industry associations in many emerging nations and uncertain global financial scenario are also a key reason for the growth hamper
Global Surveillance Market Revenue (US$ Mn), 2018–2028
Global surveillance market is segmented on the basis on product, application and region. On the basis of product, the market is segmented into the camera, other hardware and software services. The camera segment accounts for the majority share in the global surveillance market, while the software service is expected to register the highest growth rate over the forecast period. On the basis of application, the market is segmented into residential, commercial, public and government infrastructure. The commercial segment accounts for a majority share in the global surveillance market.
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Global Surveillance Market by Application, 2018
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, South America and MEA. North America accounts for the majority share in the global surveillance market, followed by Europe, owing to an increase in the application of the target market. Emerging economies, such as China and India, are expected to register the highest growth rate over the forecast period. Countries and regions such as Japan, Southeast Asia and the rest of the world are expected to register stable growth over the forecast period. The surveillance market in Asia-Pacific is estimated to account identical growth and is expected to register a substantial CAGR during the forecast period
The research report on the global Surveillance market includes profiles of some of the major companies such as Hangzhou Hikvision Digital Technology Co, Axis Communications AB, Panasonic Corporation, Honeywell International Inc., United Technologies Corporation, Hanwha Corporation, Tyco International plc, Robert Bosch GmbH, Huawei Technologies Co. Ltd, Siemens Aktiengesellschaft and other prominent players
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