The Global Managed Video Surveillance Market is experiencing robust growth, driven by the increasing adoption of cloud-based systems in the commercial sector. Businesses, including retail stores, malls, and warehouses, are leveraging these solutions to enhance security, reduce inventory loss, and ensure staff safety. Additionally, the defense industry utilizes advanced wireless surveillance systems for border and asset surveillance in homeland security missions. As the demand for comprehensive and seamless surveillance solutions rises across various sectors, the global managed video surveillance market is poised for continued expansion.
According to Data Bridge Market Research, the global managed video surveillance market was valued at USD 25,204.30 million in 2021 and is expected to reach USD 42,343.82 million by 2029, registering a CAGR of 6.70% during the forecast period of 2022 to 2029.
“Increasing security concerns facilitate market growth”
Increasing security concerns serve as a major driver of the Global Managed Video Surveillance Market. With rising crime rates, terrorism threats, and security breaches across various sectors, there is a growing need for effective surveillance solutions. Managed video surveillance offers advanced monitoring, real-time analytics, and remote access capabilities, enhancing overall security measures for businesses, governments, and critical infrastructures. The demand for comprehensive security solutions to deter and respond to security threats is propelling the adoption of managed video surveillance services, driving the growth of the market worldwide.
What restraints the growth of the global managed video surveillance market?
“Rise in the number of cloud-storage solutions”
The rise in the number of cloud-storage solutions poses a significant restraint for the global managed video surveillance market. Cloud-based video storage and management options offer cost-effectiveness, scalability, and accessibility benefits to businesses, reducing the demand for traditional managed video surveillance services. As more organizations adopt cloud-based solutions, it can impact the growth and revenue potential of traditional video surveillance service providers.
Segmentation: Global Managed Video Surveillance Market
The managed video surveillance market is segmented on the basis of system, hardware, software, services, and end user.
- On the basis of system, the managed video surveillance market is segmented into analog video surveillance system, and I.P. video surveillance system.
- On the basis of hardware, the managed video surveillance market is segmented into cameras, monitors, storage devices, and accessories.
- On the basis of software, the managed video surveillance market is segmented into video analytics, and video management system.
- On the basis of services, the managed video surveillance market is segmented into video surveillance-as-a-service, installation, and maintenance services.
- On the basis of end user, the managed video surveillance market is segmented into infrastructure, commercial, military and defence, residential, public facility, and industrial.
Regional Insights: North America dominates the Global Managed Video Surveillance Market
North America holds a dominant position in the managed video surveillance market, boasting the largest market share and revenue. This can be attributed to the strong presence of major key players in the region. These companies offer advanced video surveillance solutions and services, catering to a wide range of industries and customers. Additionally, the region's robust infrastructure and technological advancements contribute to its leadership in the market.
The Asia-Pacific region is projected to witness rapid growth in the managed video surveillance market during the forecast period. This growth is fueled by the substantial opportunities presented by low manufacturing and labor costs in the region. As businesses seek cost-effective solutions, the Asia-Pacific market becomes an attractive destination for outsourcing video surveillance services. Moreover, the region's growing economy and urbanization contribute to the increasing demand for advanced video surveillance technologies to ensure safety and security.
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Recent Developments in Global Managed Video Surveillance Market
- In May 2020, Hikvision introduced a flow control solution incorporating deep learning algorithms and 3D binocular stereo vision. This innovative technology accurately counts the number of people entering and exiting a building. When pre-defined capacity limits are exceeded, real-time alerts are sent to help retail stores and businesses maintain social distancing measures. The solution aids in crowd management and enables businesses to adhere to safety guidelines during the COVID-19 pandemic and beyond.
The Prominent Key Players Operating in the Global Managed Video Surveillance Market Include:
- Axis Communications AB (Sweden)
- Panasonic Corporation (Japan)
- Honeywell International Inc (U.S.)
- Bosch Sicherheitssysteme GmbH (Germany)
- NICE (Israel)
- Teledyne FLIR LLC (U.S.)
- Zhejiang Dahua Technology Co. Ltd. (China)
- Hanwha Techwin Co. Ltd. (South Korea)
- Pelco (U.S.)
- Hangzhou Hikvision Digital Technology Co. Ltd. (China)
- Avigilon Corporation (Canada)
- The Infinova Group (U.S.)
- Verkada Inc.(U.S.)
- Dahua Technology Co., Ltd (China)
- Napco Security Technologies (U.S.)
- D-Link Corporation (Taiwan)
- Mobotix (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of global managed video surveillance market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Managed Video Surveillance Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
