Posted On: 2017-02-27
In Asia-Pacific video surveillance market, China, Japan, India, and South Korea are the key revenue generating countries. Video surveillance market growth in this region is buoyed by several factors such as growing crime rate, data thefts, supported by increasing remote monitoring, growth in public infrastructure & IT spending, government initiatives, and increasing security spending. Also, rise in global terrorism has further escalated the installation of video surveillance systems in several APAC countries. Japan being one the largest markets for video surveillance systems is also registering potential growth owing to shift in demand from analog to IP video surveillance systems.
According to 6Wresearch, Japan Video Surveillance Market is projected to at a CAGR of 8% from 2017 to 2023. Apart from growth in demand for IP video surveillance systems, Japan is vigorously recording installation for video surveillance systems attributed to concern over rise in global terrorism. For this Japan has stepped-up its security across airports, metros, maritime, public infrastructure, and across all borders including both land & sea.
According to "Rajat Kharbanda, Senior Consultant, Research and Consulting, 6Wresearch," Japan market recorded potential growth in demand for dome IP cameras primarily across various verticals, followed by bullet IP cameras for public infrastructure and transportation verticals.
Moreover, retail and hospitality verticals are also contributing significantly towards the growth of Japan video surveillance market, owing to rise in crime related to data & property thefts. Transition towards IP surveillance technology is also spurring the demand for video surveillance systems principally in hotels and several convenience stores and shopping malls & outlets," Rajat further added.
According to "Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch," Increased government spending towards safety & security coupled with upcoming Tokyo Summer Olympics and Paralympics games in 2020 would accelerate the market of security systems in several verticals.
"According to International Olympic Committee (IOC), about $17 billion budget has been proposed for the upcoming events. Also, around $4 billion service budget for transport, security and other miscellaneous is expected to be spent in the coming years. These expenditure would fuel the installations of video surveillance systems over the forecast period," Prijo further added.
"Japan Video Surveillance Market (2017-2023)" provides in-depth analysis with 82 figures and 20 tables covered in more than 115 pages. The report estimates and forecast overall Japan video surveillance market by revenue, sales volume, verticals, and regions. The report also gives the insights on competitive landscape, market share by companies, company profiles, market trends, drivers and restraints.