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Dublin, October 19, 2023 (GLOBE NEWSWIRE) — The “Global Surveillance Camera Market (by System Type, Technology, and Region): Information and Forecast with the Potential Impact of COVID-19 (2022-2027)” has been added to the ResearchAndMarkets. com offering.
The global surveillance camera market is on a physically strong expansion trajectory, with forecasts predicting that it will reach a very high price of $33. 11 billion by 2023, accompanied by a remarkable CAGR of 8. 30%. Moreover, the market is expected to witness a growing volume, with approximately 278. 6 million surveillance camera equipment through 2023.
Surveillance cameras, which are widely used to monitor fast-track areas, are an integral component of security for Americans and businesses. The points driving the expansion of the market come with the development of the urban population, the growing threats of criminals, increased traffic control needs, and technological advancements. and expand the number of ATMs.
Key Market Segments
By System Type: The global surveillance camera market is categorized into two segments based on formula type: analog and IP surveillance cameras. IP surveillance cameras dominate the market in terms of share, while the market is also segmented in volume into analog, IP advertising, and client. IP and other surveillance cameras. Commercial IP surveillance cameras hold a significant share, while the analog segment is expected to decline as technological innovation and IP cameras gain prominence.
By Technology: The market is divided into three technology-based segments: Image Signal Processor, Vision Processor, and AI Surveillance Camera Vision Processor. Image signal processors account for the largest share of the market. The adoption of home security systems, the integration of artificial intelligence (AI) into surveillance cameras, and the increasing use of IoT-based surveillance systems are all contributing to the expansion of the market. The AI Surveillance Camera Vision Processors segment is expected to show the CAGR as surveillance camera brands move to AI processing.
Geographical coverage
The global surveillance camera market is segmented into 4 regions: Europe, North America, Asia-Pacific, and the Rest of the World. North America includes the United States, Mexico, and Canada, while Europe includes the United Kingdom, Germany, France, and Spain. and the rest of Europe.
The Asia-Pacific region covers Japan, China, South Korea, India, Australia, and the rest of Asia-Pacific. Asia-Pacific holds the largest market share due to the accumulation of criminal activities and the desire to improve security. In the North, the United States has a significant percentage, due to the widespread installation of CCTV cameras in public and personal places. Japan and China are major players in the Asia-Pacific region, and public protection agencies invest heavily in complex technologies for security solutions.
Key Impact Factors
Growth Controllers
Growth of ATMs
Rising Crime Rate and Threats
Further infrastructure development
Growth in traffic management
Challenges
Heightened concerns
High Prices
Trending
Integration of Synthetic Intelligence Systems into Surveillance Cameras
Adoption of IoT-based tracking systems
Emergence of Video Surveillance-as-a-Service (VSaaS)
Growing Adoption of Spy and Hidden Cameras
Factor: Increase in ATMs
The proliferation of banks and ATMs has led to an increase in suspicious ATM robberies and withdrawals. These criminal activities pose a significant security threat. Surveillance cameras play a role in tracking ATMs and deterring crime, driving the need for surveillance cameras.
Challenge: Growing privacy concerns
The widespread use of surveillance cameras has raised privacy concerns. Advanced surveillance cameras can inadvertently compromise people’s privacy as they can be recorded without their knowledge in public spaces. Unauthorized access to recordings and video clips has led to privacy breaches, posing a potential risk. to the call of surveillance cameras.
Trend: Emergence of Video Surveillance as a Service (VSaaS)
Video surveillance-as-a-service (VSaaS) is gaining momentum due to growing security concerns, the rise of smart cities, and the growing demand for video surveillance. The adoption of multi-megapixel HD cameras generates gigantic amounts of CCTV data, making cloud computing an effective garage solution, especially for small and medium-sized businesses. The benefits of cloud generation come with reduced capital investment, reduced power consumption, convenient hardware utilization, IT load savings, and improved reliability.
COVID-19 testing
The COVID-19 pandemic has had a significant effect on the global surveillance camera market. Surveillance cameras have been instrumental in enforcing social distancing measures and tracking COVID-19 patients. Thermal monitoring has been implemented to monitor temperatures and save you. the spread of the virus in high-traffic areas.
Companies mentioned
Axis Communications AB
Cisco Systems, Inc.
Dahua Technology
Hanwha Group
Hikvision
Honeywell International Inc.
LG Electronics Inc.
Motorola Solutions (Avigilon)
Panasonic Company
Robert Bosch GmbH
Sony Group Company
Built-in Teledyne technologies
Univista
For more information on this report, https://www. researchandmarkets. com/r/fzf4sg
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