SecurityWorldMarket

02/11/2017

Mobile video surveillance markets on the move

Northbrook, Il (USA)

The mobile video surveillance market was valued at USD 1.40 billion in 2017 and analysts from Marketsandmarkets expect it to reach USD 2.32 billion by 2023, at a CAGR of 8.77% between 2017 and 2023.

The increasing installation of surveillance cameras, improving infrastructure and deployment capabilities, rising demand for intelligent and scalable mobile video surveillance solutions, rising demand for cloud-based surveillance solutions, and growing adoption of IP cameras are the driving factors for the mobile video surveillance market growth.  The new Mobile Video Surveillance Market report covers Hardware (Cameras, Storage Solutions), Software (Video Analytics, VMS), Service, Application (Trains, Trams, Buses, Transport Vehicles, Police Cars, Drones), Vertical, and Geography, and includes forecasts to the year 2023.

Researchers found that the hardware components are the stronges area, having become technologically more advanced and affordable. The rising safety and security concerns, increasing crime rates, and growing terror attacks are some of the factors driving the growth of the camera market. Also, the constantly falling prices of cameras helps to increase the adoption rate of surveillance cameras across the world.

The report suggests that the transportation vertical is expected to grow at the highest rate between 2017 and 2023. The demand for security systems in public transport, mass transit systems, ports, and so on is increasing to reduce robbery and criminal activities.

And in terms of geography, North America accounted for the largest share of the mobile video surveillance market in 2016. The reason for this growth is the adoption of new technologies (cloud services and other analytics technologies) and security systems to protect its economy and infrastructure through criminal activities and terror attacks. Thus, the reduction in IP camera prices and the presence of big players are the factors, which would drive the mobile video surveillance system market growth in this region. In North America, the main focus is to boost the penetration of video surveillance system within the defence, transportation, and commercial verticals.

The major players cited by the analysts as being active in this market, include Axis Communications, Bosch Security Systems, Dahua, Hikvision, Flir, Avigilon, Pelco, Hanwha Techwin, Tyco, Dallmeier, 3xlogic, Costar, DTI, and United Technologies.


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