South Africa is the leading video surveillance systems market in African region. Compared to other African countries, South Africa's market is quiet mature. Though, South African market dominates in Africa but has registered sluggish demand for video surveillance systems during 2013-15 owing to overall economic slowdown and depreciation of country's currency.
According to 6Wresearch, South Africa Video Surveillance Market generated $72.3 Million in 2015. The market growth is expected to bounce back by 2018 due to improvement in South African economy, government spending on public safety & security, coupled with expected flow of investments in the country primarily in retail and commercial verticals. Infrastructural development in the country would further fuel the market for video surveillance systems over the next six years.
According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, "IP video surveillance segment captured major share of the market pie. Deployment for IP surveillance systems for city surveillance and traffic management have led for the growth of the market. Further, need for remote accessibility, demand for video analytics and increasing IT infrastructure have spurred the installation of IP video surveillance systems in the country".
"Over the next six years, South Africa is anticipated to remain dominant country in African region, where major market demand is exhibited from government & transportation and commercial verticals" Samuel further added.
According to Shefali Goel, Research Analyst, Research and Consulting, 6Wresearch, "Amongst all verticals, government & transportation contributes a major share in the market revenues; however, commercial office and healthcare & hospitality verticals are also expected to witness key growth through the forecast period".
"Gauteng province has accounted for the largest revenue share in South Africa's video surveillance market due to infrastructure development activities in commercial and retail verticals. Moreover, Mpumalanga province is forecast to grow with relatively higher CAGR from 2016 to 2022" Shefali concluded.
The key players in South Africa's video surveillance market are namely, Avigilon, Axis Communication, Bosch Security, Hikvision and Pelco.
"South Africa Video Surveillance Market (2016-2022)" provides in-depth analysis with 90 figures and 18 tables covered in more than 120 pages. The report estimates and forecast overall South Africa video surveillance market by revenue, by types, by region and by verticals such as banking & financial, government & transportation, retail & logistics, commercial offices, industrial & manufacturing, residential, hospitality & healthcare and educational institutions. The report also gives the insights on competitive landscape, market share by companies, companies benchmarking, company profiles, market drivers and restraints.
Media Courtesy : Zawya