Press Release

Video Surveillance Market 2020: Global Industry Analysis, Size, Share, Growth, Trends and Forecast To 2027

The global video surveillance market is likely to gain momentum from the increasing usage of deep learning technology. It helps in lowering calibration of algorithms and facilitating video analytics. Therefore, it is capable of driving the usage of video surveillance software in the near future. This information is given in a recently published report by Fortune Business Insights™, titled, “Video Surveillance Market SizeShare & COVID-19 Impact Analysis, By Component (Hardware, Softwareand Video Surveillance as a Service (VSaaS)), By End-User (Commercial, Industrial, Residential and Government), and Regional Forecast, 2019-2026.”.The report further mentions that that the market size was USD 19.12 billion in 2018 and is projected to reach USD 33.60 billion by 2026, exhibiting a CAGR of 6.8% during the forecast period.

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The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Drivers-

Increasing Smart City Initiatives to Skyrocket Demand

The rising adoption of artificial intelligence (AI) worldwide is one of the major video surveillance market growth drivers. The Carnegie Endowment for the International Peace Organization published a paper in 2019 which states that out of the total 176 countries, 75 of them are using AI for surveillance purposes, such as smart citing, facial recognition systems, and more. It proves that the rising development of facial recognition applications and smart city initiatives by several regions would contribute to the market growth.

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Regional Analysis-

Asia Pacific to Remain at the Forefront Stoked by High Government Initiatives in China

Geographically, the market is divided into Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. Amongst these, Asia Pacific held USD 10.58 billion in terms of market revenue in 2018. The region is anticipated to lead in the forthcoming period. This growth is attributable to the participation of China. The Chinese government is taking various initiatives to promote the utilization of such surveillance equipment. For instance, in 2017, it announced the completion of the ‘Skynet’ video surveillance program. It further helped in creating one of the largest surveillance networks worldwide. North America is set to grow significantly backed by the increasing adoption of these systems in many countries.

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Fortune Business Insights™ lists out the names of all the companies present in this market. They are as follows:

  • Avigilon Corporation
  • BCDVideo
  • Bosch GmbH
  • Dahua Technology Co., Ltd.
  • Axis Communications AB
  • Hangzhou Hikvision Digital Technology Co., Ltd.
  • Honeywell International, Inc.
  • Huawei Technologies Co., Ltd.
  • Panasonic Corporation
  • Pelco
  • FLIR Systems, Inc.

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Ruby Arterburn

Ruby is leading the team writing for artificial intelligence. She is a newcomer in the organization and has already made her base and reputation with her hard work and her efficiency towards her field. Being a student of computer science it has become easier for her to understand the objectives and the expected results of this column. She is also an excellent cook, and now and then, and we get the opportunity to taste her deliciously baked cookies.

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