3D Surveillance Software Market Expected to Reach $211.5 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “3D Surveillance Software Market," The 3d surveillance software market was valued at $110.60 million in 2021, and is estimated to reach $211.5 million by 2031, growing at a CAGR of 7% from 2022 to 2031.

The 3D surveillance software is a breakthrough technology that has in-depth sensing capabilities for facial and objects recognition.  The 3D surveillance software can accurately capture the height, width, and length of the object with the use of various technologies such as Artificial Intelligence (AI), edge computing, Light Detection and Ranging (LiDAR), and others. The 3D surveillance software market growth is majorly attributed to its safety, efficiency, and effectiveness in manufacturing operations across factories, plants, or mills.

The 3D surveillance software industry is anticipated to grow at a rapid pace owing to its ability in determining intruders, theft, vandalism, and other security threats. Due to this, this software finds a wide range of applications across energy & power generation, transportation, oil & gas, utilities & communication, and others. For instance, the oil & gas sector has critical equipment that operates remotely. Hence, the operators operating in the oil & gas sector, strive to keep their assets safe and to prevent them from leakage, tampering, or attacks. Improper handling of this equipment can cause a safety hazard. Also, monitoring large assets and large pipelines can be challenging. Hence, 3D surveillance software can be used to address these challenges reliably and cost-effectively. This is possible with the help of thermal and video cameras, AI, and edge computing solutions that can distinguish between threats and non-threats. The automated alerts provided by 3D surveillance software can warn the guards against any security events. In addition, this software can help the operators to create security zones allowing only authorized personnel to enter. These aspects are anticipated to boost the 3D surveillance software market size during the forecast period.

Although the growth rate of the 3D surveillance software market is high, a lack of awareness regarding this software and its use across several industries is anticipated to restrain the 3D surveillance software market growth.

The use of 3D surveillance software across the automotive and defense sector is anticipated to generate excellent opportunities in the market. In the automotive sector, this software can monitor the operations of autonomous manufacturing plants. Many automotive companies are shifting from automated to autonomous production processes. But the lack of a reliable, accurate, and up-to-date information providing system can stall the operations or can put the workers in danger. Hence, in such cases, the 3D surveillance software industry plays a major role that can set up security zones around the machinery. If some worker crosses this security zone, the alarm will be triggered that can alert the worker about the danger. Similarly, in the defense sector, border control is crucial to ensure the nation’s security. Hence, in the defense sector, the use of 3D surveillance software can safeguard the country’s border day & night and in all weather conditions by automatically providing notification and alarm in case of a security breach. These factors are anticipated to create several growth opportunities in the 3D surveillance software market during the forecast period.

The 3D surveillance software market is segmented on the basis of application, deployment, and region. By application, it is classified into commercial, industrial, and residential. By deployment, it is divided into on-premise and cloud based. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the 3D surveillance software market analysis report include Hexagon, Surveill 3D, Cambridge Pixel Ltd., Tacticware Resource Group LLC, MIRASYS, Dallmeier Electronic GmbH & Co. KG, Northern Digital Inc., Noitom Ltd., OptiTrack, and Vicon Motion Systems Ltd.

The report offers a comprehensive analysis of the global 3D surveillance software market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.

Impact of COVID-19 on the Global 3D Surveillance Software Industry

• The COVID-19 pandemic has created havoc across several industries such as automotive, real estate, transportation, oil & gas, and others. However, the 3D surveillance software market has gained significant growth during the pandemic as this software can remotely, accurately, and efficiently detect threats and security attacks.
• During the pandemic, the adoption of 3D surveillance software in the automotive sector witnessed significant growth as this software can remotely track and ensure the security of manufacturing components along with maintaining the COVID-19 protocols
• Similarly, in the utilities and telecommunication sector, 3D surveillance software experienced growth during the pandemic, as it helped in overcoming the critical communication infrastructure and overcoming the weaknesses of traditional security systems. The above-mentioned factors have boosted the 3D surveillance software market share during the pandemic.

Key Findings of the Study

• Based on application, the industrial sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing segment during the forecast period
• Based on deployment, the cloud based sub-segment emerged as the global leader in 2021 and is predicted to witness the fastest growth during the forecast years
• Based on region, the North America market registered the highest market share in 2021 and is projected to maintain its position during the forecast period