Enterprises in all industry verticals and individuals are making an investment in video surveillance, given the rise in safety and security concerns.
A study conducted by cloud-based security camera systems provider Eagle Eye Networks found that 72 percent of U.S. adults favor using security cameras in schools.
Video surveillance systems help users to monitor, analyze, and identify people and assets on a day-to-day basis with the help of cameras placed in different points and storage facility to access these visuals when required.
A survey by Hitachi Data Systems says 44 percent of those surveyed expect their countries to invest more than $100 million in public safety initiatives over the next two years. Of those investments, 24 percent are expected to be allocated toward surveillance technology, with 19 percent earmarked for big data analytics, and another 19 percent for mobile and network technology.
Public and community safety ranked as respondents' top priority, followed by transportation and urban infrastructure, and the advancement of the Internet or IT capabilities.
Trends in the video surveillance market
Video surveillance solutions incur high network deployment costs and maintenance costs. As such, enterprises are opting for wireless network infrastructure to avoid these additional charges due to a wired network, according to research agency Technavio.
Wireless video surveillance provides security to critical infrastructures such as airports and cities without additional installation and maintenance costs.
Another notable trend in the market is a shift from analog to IP cameras. The agency says the demand for IP cameras is growing as the total cost of operation of IP cameras is much lower than analog cameras.
Furthermore, IP cameras are more flexible, scalable, and can be easily installed when compared to analog cameras. Moreover, IP cameras have built-in servers or encoders that help in image encryption and provide multi-level user access control, which prevents third-party manipulation.
Video surveillance investments
Alameda County Housing Authority deployed the RADWIN's 5000 Point-to-Multipoint base stations and subscriber units to connect video surveillance camera sites across its housing project, transmitting the video back to the local Police Force station.
The RADWIN-based surveillance network is helping the housing authority to cut down on crime and empowering the local police force to rapidly detect and respond to security violations.
Elsewhere, Colorado's Greenwood Village Police Department deployed video surveillance solutions from Hikvision USA for use in its crime lab.
This solution, which incorporates Video Content Analysis (VCA) as well as 360Â° fisheye technology, allows the Greenwood Village police to protect forensic evidence from external threats as well as improve employee accountability and monitor the departmental procedures.
IHS global says an increasing number of traditional IT vendors are taking note of the opportunities in video surveillance. It forecasts the global video surveillance equipment and storage market to be worth over $28 billion by 2018.
Axis Communications, Cisco, D-Link, Genetec, Panasonic, Huawei, Bosch Security, Hikvision, Honeywell Security, NICE Systems, and Tyco are some of the major players in the world IP video surveillance and VSaaS market.
According to Axis Communications president Ray Mauritsson, the company is committed to its long-term strategy of continuously releasing innovative network video products and offering intelligent security solutions.
In March, Axis introduced two multi-sensor panoramic cameras. The 8-megapixel AXIS P3707-PE, with four varifocal camera heads, enables a 360Â° coverage or a combination of overview and zoomed-in views in four different directions.
Chinese ICT equipment maker Huawei offers a host of solutions suitable for telecom and, roadway and campus security. The company has helped Beijing to transform road safety and enhance monitoring.
Hikvision's product suite includes Smart IP cameras, HD analog cameras, speed domes, NVRs, DVRs, video management software, access control, and alarm systems, encoders, decoders, and other elements of sophisticated security systems.
Since its inception in 2001, Hikvision has played an active role in the video surveillance market, devoting 8 percent of its annual revenue to research and development for continued product innovation.
D-Link offers surveillance solutions for home, SMBs, large businesses and government, and educational sectors.
In 2016, D-Link expects to benefit from mobile technologies given the widespread adoption of 4G LTE. Home automation is a new front where D-Link will compete.
The total video surveillance market is expected to reach $71.28 billion by 2022, at an estimated CAGR of 16.56 percent between 2016 and 2022, according to Markets and Markets.
It notes that the commercial and infrastructure sectors are becoming popular due to the high demand for video surveillance systems to reduce security threats and criminal activities.
At the same time, Technavio's research analyst predicts a CAGR of over 22 percent during the forecast period. It says increasing demand for wireless network infrastructure is the key growth driver for this market.
According to BCC Research, the global video surveillance and VSaaS components market will grow from $19.5 billion in 2015 to $50 billion in 2020 with a CAGR of 20.7 percent for the period 2015-2020.
Hardware is the largest segment of the global market and should reach approximately $14.3 billion in 2015 and $34 billion by 2020, with a CAGR of 19 percent.
The software component of this market is expected to increase from nearly $4.3 billion in 2015 to nearly $11.5 billion in 2020, with a CAGR of 21.9 percent.
According to 6Wresearch, India Video Surveillance Camera (VSC) market shipments value reached around $160 million in 2015. In terms of unit shipments, Hikvision led the overall market followed by CP Plus and Dahua. Other major players in the India Video Surveillance Camera Market are Samsung, iBall, Honeywell, Capture, and Zicom.
Anuj Mehrotra, senior research analyst, 6Wresearch-India Electronics Division, said: "Increasing terrorist activities, need for remote monitoring and rising government spending on smart cities have led to the growth of India Video Surveillance Camera Market."
Increasing application segments across residential, transportation, and healthcare sector, coupled with growing awareness and demand across tier 3 and tier 4 cities have assisted in the progression of the video surveillance camera market in India.
Media Source: Infotechlead