Product ID: SQMIG45A2132
Global Video Surveillance Market Size, Share, Growth Analysis, By Offering(Hardware, Software), By System(Analog Video Surveillance Systems, IP Video Surveillance Systems) - Industry Forecast 2024-2031
Report ID:
SQMIG45A2132 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|
Tables:
63 |
Figures:
75
Global Video Surveillance Market Dynamics
Global Video surveillance Market Drivers
Emergence of AI Surveillance Technology Would Ensure to Drive Growth
- Artificial intelligence technology has gained traction in recent years. According to a paper published by Carnegie Endowment for the International Peace Organization, in 2019, out of a total of 176 countries, 75 countries are actively leveraging artificial intelligence capabilities for surveillance purposes including facial recognition systems, smart cities, and others. This data reflects that the growing smart city initiatives & developments and facial recognition applications are likely to drive the adoption of surveillance systems using cameras during the forecast period.
Growing Adoption of Body-worn Cameras to Drive Growth
- The increasing use of body-worn cameras by the security forces or law enforcement agencies has led to an adoption of these cameras across other industries such as healthcare and retail. Body-worn cameras have several benefits in industries such as healthcare, retail, and hospitality to improve customer relations, enhance workforce protection, and help prevent unusual activities. A body-worn camera enables the employees to capture real-time events and send real-time threat alerts and notifications to the security authorities. Considering the above-mentioned factors, the video surveillance market players are integrating body-worn cameras and video analytics capabilities to address the requirements of the end-users.
Global Video surveillance Market Restraints
Privacy and Security Concerns Regarding Video Data
- Pervasive usage of video surveillance is promptly increasing in developed countries. Continuous security threats to public safety demand the use of such systems. Contemporary video surveillance systems offer advanced functionalities which threatens the privacy of those recorded in the video. There is a need to balance the usage of video surveillance against its negative impact on privacy. Recently, some countries have looked to use this capability to help with the coronavirus outbreak and enforcing stay-at-home and social distancing mandates.
High Installation and Maintenance Costs
- The cost of installing and maintaining surveillance cameras can be high, especially for large-scale projects. The cost of implementing a comprehensive video surveillance system with advanced features can be prohibitive for small and medium-sized businesses.
Global Video Surveillance Market Report Snapshots
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