Unlocking Opportunities: Mobile Video Surveillance Market $3.6 Billion Growth Story
The Mobile Video Surveillance Market is expected to develop at a compound annual growth rate (CAGR) of 8.7%, rising from USD 2.4 billion in 2022 to USD 3.6 billion by 2027.
The rising demand for cutting-edge video surveillance solutions that offer mobility and flexibility is to blame for this significant increase. Mobile video surveillance solutions are steadily rising in popularity as industries look for increased security and real-time monitoring capabilities. The market's steady growth underlines the significance of these technologies in tackling security issues in a variety of industries, and also portends a bright future for the sector.
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Due to a number of important considerations, the need for mobile surveillance systems is significantly increasing. Mobile surveillance integrators can now better meet the security and operational needs of end users across a variety of vehicle types, such as transportation vehicles, police vehicles, and drones, thanks to the continuous improvement in camera resolution, enhanced AI capabilities, and the advent of remote monitoring. These technological developments work together to enable real-time remote monitoring of moving vehicles, allowing for the quick detection of odd events and incidents. The seamless integration of cutting-edge technology has become essential in fulfilling the changing needs of numerous industries dependent on mobile surveillance solutions, as security concerns continue to be of the utmost importance.
Storage device segment to account for the highest CAGR during the forecast period for the Video Surveillance Hardware Market
The market for video surveillance hardware is anticipated to develop at the greatest compound annual growth rate (CAGR) in the storage device segment. The annual decline in surveillance camera prices, which has resulted in their broad acceptance globally, can be blamed for the spike in demand for storage solutions. Storage needs have grown as a result of the increased use of IP cameras, which record high-definition videos and, in some cases, audio. As a result, effective storage systems are now required to handle the expanding volume of video data, making this the market sector for video surveillance technology that is expanding at the highest rate.
Market for IP Video Surveillance Cameras to grow at higher CAGR during the forecast period.
Over the course of the forecast period, the market for IP video surveillance cameras is anticipated to expand at a faster compound annual growth rate (CAGR). Due to their capacity for recording high-definition, high-framerate videos and increased flexibility in interconnectivity and expansion with additional cameras, IP cameras have become the favoured option. A high level of data safety is ensured by the encryption and authentication techniques used to secure their data transmission. Additionally, IP cameras provide remote access and wireless connectivity with Network Video Recorders (NVRs), enabling global monitoring from any computer or mobile device. Due to these cutting-edge features, a large number of businesses and organisations are switching to IP-based camera systems, which is causing the market for IP video surveillance cameras to expand quickly.
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Market for Military & Defense Vertical to register the highest CAGR for Video Surveillance Market.
In the video surveillance market, the Military & Defence vertical is anticipated to develop at the fastest compound annual growth rate (CAGR). In this field, drones are essential because they effortlessly integrate into the C4ISR system and provide tactical advantages with straightforward operational and maintenance requirements. They are quite adaptable and can carry out a wide range of tasks, such as search and rescue operations, monitoring of illegal traffic, and information gathering. In military and aerospace applications, such as border security, search and rescue operations, observing peace treaties, and establishing security perimeters surrounding base camps and embassies, mobile video surveillance is widely used. The tremendous expansion of the video surveillance market in this vertical is being driven by the growing acceptance of these technologies in the military and defence industry.
Market in APAC estimated to grow at the highest CAGR during the forecast period.
During the projection period, the Asia Pacific (APAC) market is predicted to have the greatest compound annual growth rate (CAGR). Mobile video surveillance systems have become more popular as a result of the region's early embrace of cutting-edge technologies including cameras, wireless connectivity, and integrated analytics for DVRs and NVRs. The market has expanded in the APAC region as a result of several government initiatives to improve city safety, significant investments in security equipment, and the availability of affordable mobile video surveillance systems from local manufacturers. Furthermore, the rise of the mobile video surveillance market in the Asia Pacific is being driven by the rising need for IP systems in important industries like transportation, law enforcement, and military & defence, particularly in China.
Major vendors in the Mobile Video Surveillance Market include Hikvision (China), Dahua Technology (China), Axis Communications (Sweden), Bosch Security and Safety Systems (Germany), Hanwha Techwin (South Korea), Avigilon (Canada), Teledyne FLIR (US), Briefcam (US), Pelco (US), Uniview (China), Agent Video Intelligence (US), CP PLUS (India), Genetec (Canada), Huawei Technologies (China), Seon Design (Canada), Pro-Vigil (US), Strongwatch (US), Rosco Vision (US), VIVOTEK (Taiwan), MOBOTIX (Germany), Wireless CCTV (US), Strops Technology (Latvia), DTI Group (Australia), and Ivideon (US).
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