The global video surveillance security cameras market is segmented by type such as commercial, institutional, border security, city infrastructure, residential and industrial. Among these segments, commercial segment has great potential to adopt video surveillance security cameras during the forecast period. The expansion of the commercial segment can be attributed to wide application of security cameras such as to prevent burglary, assault and car theft at public places. Moreover, video surveillance security cameras are perfect solutions to deter problems such as vandalism, drug use, drunkenness, racial harassment, sexual harassment and others.
Global video surveillance security cameras market is expected to register a 9.2% CAGR over the forecast period. Moreover, the global video surveillance security cameras market was valued at USD 28 Billion in 2016 and is expected to reach at notable revenue by the end of 2021. The market is expected to expand on the back of increasing capital investment on CCTV systems in order to put a stop to social crimes at public and residential places.
The outdoor segment by type is likely to experience major demand during the forecast period. Rising incidents of burglary, vandalizing, theft and other crimes in residential and commercial buildings has led consumers to install video surveillance security cameras in order to keep an eye on their property and to reduce the fear of crime.
Public safety concerns
Factors related to public safety concerns such as rising burglary, social crimes, broken traffic laws and thefts are driving the growth of global video surveillance security cameras market. Further, increased concern regarding public safety has led governments to spend high capital on installation CCTV systems at public places such as highways, streets, market and other public places is a major factor which is anticipated to bolster the growth of video surveillance security cameras market over the forecast period.
Increasing crime across the globe
Video surveillance security cameras have been significantly contributed in the prevention of crime across the globe. Further, rising need to reduce crime, to improve public safety, to reduce the fear of crime and to improve property security is likely to drive the growth of video surveillance security cameras market at considerable pace during the forecasted period.
Although, Lack of skilled workforce to manage security cameras, lack of standardized security cameras, not much hindrance from government on manufacturing security cameras and related are few of the major factors which are believed to dampen the growth of global security cameras market in the future.
The report titled “Global Video Surveillance Security Cameras Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global video surveillance security cameras market in terms of market segmentation by application, by type, by component, by camera resolution, by feature, by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global video surveillance security cameras market which includes company profiling of Panasonic Corporation, Samsung Techwin, Arecont Vision Llc, Honeywell International Inc., Bosch Security Systems and Canon Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global video surveillance security cameras market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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