Report Code: A09974 | Pages: NA | Mar 2023 | 2284 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Residential Video Surveillance Market
Request Now !The global residential video surveillance market is experiencing significant growth and is expected to grow considerably in the next few years. Residential video surveillance systems integrate one or more video cameras on a network that sends the captured video or audio information to a particular place. The captured images are live monitored or transferred to a central location for recording and storage.Â
Increasing demand for security observation products on account of increasing threat and criminal activities is the key factor to propel the video surveillance systems market. Growing use of smart security solutions across the residential sector and increasing integration of IoT technology in home security solutions are some of the key factors supporting the market growth.
The global residential video surveillance market is segmented on the basis of offering, system type, and region. Based on offering, the residential video surveillance market is divided into hardware, software and service. In terms of system type, the market is categorized into analog surveillance, IP surveillance, and hybrid surveillance. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global residential video surveillance industry include Hangzhou Hikvision Digital Technology Company Limited, Axis Communications AB, FLIR Systems Incorporation, Avigilon Corporation, and Bosch Security Systems Incorporation. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market.Â
Growing concerns about safety and security, increasing adoption of IP cameras, and growing demand for wireless and spy cameras are the factors driving the residential video surveillance market growth. In addition, the demand for smart security solution for homes to exercise more control with further facilitation of energy savings fuels the market.Â
However, violation of privacy is a major restraint. Rising government and stakeholder funding for developing smart cities and employing city surveillance solutions, growing demand for VSaaS services, ongoing technological advancements in Big Data, IoT, cloud-based services, trends of artificial intelligence, and deep learning for residential video surveillance systems are expected to provide opportunities to players in the market during the forecast period.
Development in technology and the need to lowering cost of security solutions fuel the global residential video surveillance market. In addition, a large number of players have entered the market and started offering innovative home security solutions.Â
The demand for video surveillance software is expected to grow during the forecast period. Software solutions contain video management and video analytics system. Video analytics improves video surveillance systems by performing the tasks of real-time event detection, extraction of statistical data while saving manpower costs, post-event analysis, and growing the effectiveness of the surveillance system operation.Â
Developments related to technological advancements, such as deep learning and AI, have augmented the need for launching innovative and new products to tackle the security crisis at every level. AI and deep learning are being adopted in numerous end-use applications, such as retail management, crowd management, and license plate recognition, thus providing opportunities for the market.
Key Benefits of the Report
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available For Years | 2019–2027 |
Base Year Considered | 2019 |
Forecast Period | 2020–2027 |
Forecast Units | Value (USD) |
Segments Covered | Offering, System Type, and Region |
Regions Covered | North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
Companies Covered | Hangzhou Hikvision Digital Technology Company Limited, Axis Communications AB, FLIR Systems Incorporation, Avigilon Corporation, and Bosch Security Systems Incorporation |
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COVID-19 Scenario AnalysisÂ
Residential Video Surveillance Market Key Segments
Segments | Sub-segments |
 Offering |
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 System Type |
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Questions Answered in the Residential Video Surveillance Market Research Report
Residential Video Surveillance Market Report Highlights
Aspects | Details |
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By Offering |
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By System Type |
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By Region |
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Key Market Players | Company1, Company2, Company3, Company4, Company5, Company6, Company7, Company8, Company9, Company10 |
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