IP Video Surveillance Market 2021: Revenue, opportunities, Sales Revenue and Forecast 2023
IP Video Surveillance Market – Overview
The growth in the surveillance sector has prompted growth across all sections of the market. IP surveillance cameras are touted as the next major step in the market of video surveillance. Market concentrated reports associated with the semiconductors and electronics industry amid others recently have been made available by Market Research Future which issues reports on this industry. The market is forecasted to demonstrate a CAGR of approximately 12 percent in the duration of the forecast period.
Analog surveillance cameras that previously had a major chunk of the market are gradually being phased out in favor of the rising popularity of IP surveillance cameras. The ease of integration of these surveillance devices with the existing IP infrastructure has improved the scope of development of the market. The strong growth observed in the market can be attributed to factors such as, use of HD cameras, growing demand for installation of video surveillance and mounting need for security in urban and residential spaces.
IP Video Surveillance Market – Segmentation
The IP Video Surveillance Market is segmented on the basis of application, region and component. The component based segmentation of the market is segmented into software and hardware. The hardware component further consists of monitors, cameras, and servers. The software component further contains video management and video analytics. The regions that are covered in the market are APAC, North America, Europe, Middle East, Africa and rest of the world. The application segment of the market comprises of government, manufacturing, BFSI, healthcare, retail and others.
The key players in the global IP Video Surveillance Market include- Avigilon (Canada), Axis Communications. (Sweden), D-Link (Taiwan), Genetec Inc. TM. (Canada), The Infinova Group (U.S.), Bosch Security Systems Inc. (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Panasonic Corporation (Japan), GeoVision Inc (Taiwan) among others.
IP Video Surveillance Market – Regional Analysis
The analysis of the market has led to the observation that the IP Video Surveillance market in the North American region is estimated to observe a substantial growth period and control a significant market share in the duration of the forecast period. Countries such as Canada and U.S are estimated to initiate the growth uptick of the North American market for IP video surveillance due to the existence of a huge number of established key players. The North American region also possesses a well-established infrastructure, which permits greater of penetration of devices which eventually offers better connectivity. Growing need for innovations and advancements in the technology are other key factors accountable for the growth in the IP Video Surveillance market. Additionally, the Asia Pacific region is predicted to observe a comparatively faster adoption rate due to a high CAGR during the forecast period as compared to other regions due to the amplified growth of IT infrastructure and telecommunication, developing economies and the technological progress in IP video surveillance in the region.
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