Market Snapshot —
Market Research Future (MRFR), in its new report on the Global IP video surveillance market 2020, reveals the impact of coronavirus outbreak on the market. Other factors that are observed to impact the IP video surveillance market are also elaborated in the report. As per MRFR evaluation, the expansion of the Global IP video surveillance market can be at 12.42% CAGR across the study period 2016 to 2023. The Global IP Video Surveillance Market value is expected to rise from USD 11.22 Bn to USD 25.46 Bn from 2016 to 2023.
The growing use of IP video surveillance solutions and increase in applications of digitized video surveillance monitoring can boost the expansion of the worldwide IP video surveillance market in the years to come. The increase in the utility of digitized network and closed-circuit television (CCTV) can promote the expansion of the market across the assessment period. The growing advantage of IP camera records and video footage can boost the expansion of the market in the review period.
The increase in internet protocol network utility can boost the expansion of the market in the review period. The need for IP video surveillance and the presence of effective wireless networks replacing cables can prompt the rise of the IP video surveillance market.
Increase in applications of IP video surveillance for live and recorded video that are done via 4G/LTE, Wi-Fi, and 3G networks can cause the market to surge in the near future. IP video surveillance, a cutting edge of surveillance technology, is gaining high popularity and can cause the worldwide market of IP video surveillance to rise exponentially. The need for wireless network and its easy availability can boost the expansion of the market.
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The key players in the global IP Video Surveillance Market include- Avigilon (Canada), Axis Communications. (Sweden), D-Link (Taiwan), Genetec Inc. TM. (Canada), The Infinova Group (U.S.), Bosch Security Systems Inc. (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Panasonic Corporation (Japan), GeoVision Inc (Taiwan) among others.
Component and application are parameters on which the segment study of the IP video surveillance market is done.
The component based segment of the IP video surveillance market are hardware, software, and services. The hardware segments are cameras, servers, and monitor. The software segment are video analytics and video management. The hardware segment is likely to generate about USD 6,138.91 Mn for the market in the forecast period. The software segment can rise at 15.0% CAGR in the assessment period.
The applications based segments of the IP video surveillance market are retail, BFSI, healthcare, government, manufacturing and others.
The expansion of North America IP video surveillance market can is likely to be at 11.19% CAGR across the study period. As per MRFR regional study of the IP video surveillance market, the market in North America can value above USD 4,331.15 Mn through the study period. Regional trends of the global IP video surveillance market are studied across North America, Europe, and Asia Pacific. In Europe, the IP video surveillance market surge can be attributed to constant rise in the technological adoption and penetration of IP video surveillance different regions. In addition, the hike in disposable income and the existence of major players across the study period are likely to boost the expansion of the market in the review period. The presence of well-established infrastructure can be credited to the decent rise in the value of North America market in the years to come.
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