Video Surveillance Systems and Services Market Projected to Reach $36.28 Billion by 2018 – Report by MarketsandMarkets
(PRWEB) May 05, 2014 -- The report "Video Surveillance Systems & Services Market- (Analog, IP), Components (Hardware [Cameras, Monitors, Storage], Software [Video Analytics, VMS], Service (VSaaS - Hosted, Managed, Hybrid) - Analysis & Forecast (2013-2018)," defines and segments the Video Surveillance Systems & Services Market on the basis of a detailed analysis and forecasting of the global revenues for system types. It also identifies driving and restraining factors for the Video Surveillance Systems and Services Market along with the help of analysis of trends, opportunities, and challenges. The market is segmented and revenues are forecast on the basis of major geographies such as North America, Europe, Asia-Pacific, and Rest of the World (ROW);and sources, applications, and geographic trends and forecasts.
Browse 112 market data tables and 60 figures spread through 374 pages and in-depth TOC on "Video Surveillance Systems & Services Market".
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The Video Surveillance Systems & Services Market has undergone a remarkable change over the last decade. Increased need to deter crime is making video surveillance system an indispensable tool. The technological advances and the increased use of cloud services are the major driving factors in the Video Surveillance Market. Use of hosted video solutions is cost effective, and is easy to deploy due to limited requirement of infrastructure. In future, increasing awareness of surveillance, may lead to more innovations.
The evolution and advances in video surveillance market provides significant opportunities to improve security. This basically includes camera, recorder, software, and monitors. With the emergence of networked Internet Protocol (IP) video surveillance cameras along with the rising use cloud services, video surveillance is moving beyond traditional security and into new applications such as transportation, government, retail sectors and so on. Increased demand from consumers, business sectors, and government has increased the growth of video surveillance as a service due to its efficiency.
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The advances video surveillance system is extremely sophisticated with night vision capabilities, motion detection, and automatic tracking capabilities which offer better and efficient way of monitoring. The top revenue generators to the video surveillance market are North America and Asia pacific. Asia pacific is showing larger growth due to the development in China, India, South Korea and Japan. Major companies in video surveillance market include companies such as Axis communication (U.S.), Bosch Security System (Germany), and Hangzhou Hikvision Digital Technology (China) and Pelco by Schneider Electric (U.S.) continue to dominate in video surveillance market.
The revenue for the overall Video Surveillance market is expected to grow from $11.7 Billion in 2012 to $36.28 billion in 2018 at an estimated CAGR of 20.08%. The IP market is expected to grow from $5.41 billion in 2012 to $25.03 billion in 2018 with an estimated CAGR of 28.9% from 2013 to 2018. In 2012 the analog market is estimated to be $6.36 billion and expected to reach $ 11.25 Billion by 2018 with a CAGR of 9.7% from 2012 to 2018.
The market is likely to witness a large growth in IP video surveillance by 2018. Infrastructure sector and commercial sector is showing strong growth when compared to other sectors like institution, and residential. The growth of Video Surveillance Systems and Services Market is higher in geographic regions like North America due to the increased use of video surveillance system by government agencies and in retails; and in Asia Pacific due to the developments in China and India.
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