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IP Video Surveillance Market 2019IP video surveillance is basically an amalgamation of digitized and networked video surveillance monitoring and is known as a digitized and networked form of CCTV. In a video surveillance system, an IP camera captures a video footage and later the recorded content is transferred to an IP network.
A new report added to the online inventory of Wise Guys Reports (WGR) discloses that the global IP video surveillance market is set to capture a compound annual growth rate (CAGR) of 14.2% between 2019 and 2025. In 2018, the market was valued at USD 28.18 billion and it is projected to reach USD 87.36 billion by 2025.
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The market size of global IP video surveillance is expected to expand in the near future. The growth of the IP video surveillance market is backed by the initiatives taken by the various local and national governments aimed at reducing security threats. By using IP video surveillance the potential attacks that can hamper the safety and security of the nation can be reduced greatly. The government focuses on taking preventive steps to reduce the crisis is propelling the demand of global IP video surveillance market.
The benefits offered by IP video surveillance market is also viewed as a prominent market driver. This technology is helpful in reducing crime rate across the world. However, some of the challenges affecting the expansion of global IP video surveillance market is also viewed in the report.
Global IP Video Surveillance Market: Segmental Analysis
The segmental analysis of the market has been conducted based on type, application and region.
By type, the market has been divided into Hardware, Software and Services
On the basis of application, the market has been segmented into Banking & Financial, Retail, Healthcare, Government & higher security, Residential, Entertainment & Casino and others.
Global IP Video Surveillance Market: Regional Analysis
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Rest of the World (RoW). In North America, countries such as the U.S. and Canada are covered. In Europe, countries such as the UK and Germany are covered. In APAC, countries such as Japan, China and India are covered. In Latin America, countries such as Brazil and Mexico are covered. In terms of revenue, North America holds the largest share of the global IP video surveillance market. Increasing use of video surveillance across different industries is expected to increase the growth of the global IP video surveillance market in the region. Post technological advancement, the demand of IP video surveillance across various industries in North America has increased manifolds. Meanwhile, the presence of various major players in APAC region and increasing disposable income among some other key factors are influencing a positive growth of the market in APAC region. Also, features like high definition video and high megapixel resolution are adding to the demand for IP video surveillance system among developed and developing economies as well.
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