Government and transportation by application, accounted for the highest revenue share in the Vietnam Video Surveillance Market – 6Wresearch
Government and transportation sector dominated the Vietnam video surveillance market by application in 2022 owing to the government initiative of $93 million to install video surveillance cameras on national expressways and highways. In 2022, the government and transportation sector accounted for the maximum revenue share in Vietnam video surveillance market owing to the launch of $93 million project by the government in 2021 that would continue till 2025 to deploy traffic surveillance cameras on national expressways and highways. Moreover, the government of Vietnam also intends to spend $124.5 billion on public investment by 2025 that would further increase the revenue share of government and transportation sector in the years ahead.
According to 6Wresearch, Vietnam Video Surveillance Market revenue size is anticipated to grow at a CAGR of 12.6% during 2023-2029. The rising infrastructure owing to the government investment of $ 124.5 billion from 2021-2025 would increase the demand for Video Surveillance Market in Vietnam. The video surveillance market is expected to observe massive boost on the back of burgeoning infrastructure in the country. The smart city projects such as North Hanoi Smart City and Xuan Mai Smart City are expected to drive the Vietnam Video Surveillance Industry.
According to Ravi Bhandari, Research Head, 6Wresearch, video surveillance camera, by component, dominated the market, and the same trend is expected to continue in the years ahead owing to the “Road Development Plan 2021-2030” which would witness construction of 5,000 kilometer of expressways by 2030 and this would further propel the market for video surveillance in Vietnam. The sector is becoming one of the most significant sectors in the country and it will continue to grow more effectively in the years to come.
The Vietnam Video Surveillance Market (2023-2029)” report provides an in-depth analysis with 19 figures and 11 tables, covered in 76 pages. This report on Vietnam Video Industry comprehensively covers the industry by Component, and Applications. The report provides a detailed as well as unbiased analysis of the on-going drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per to the latest and future market dynamics.