Market Research Future (MRFR) expects the Global IP Video Surveillance Market size to reach USD 25.46 Billion with a 12.42% CAGR from 2017 to 2023 (forecast period). There has been a significant rise in IP video surveillance over the last decade. Increased demand for real-time video access, advancement in IP-based technology, growing public safety requirements, and the need to minimize the complexity of cabling are driving IP video surveillance. Furthermore, emerging smart city projects will generate opportunities for market players during the forecast period.
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The global IP video surveillance market is marked by the presence of various eminent players including Panasonic System Networks Co., Ltd. (Japan), Microsemi Corporation (U.S.), Geovision Inc. (Taiwan),Avigilon Corporation (British Columbia), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Bosch Security Systems Inc. (Germany), Axis Communications AB (Sweden), The Infinova Group. (U.S.), Cisco Systems, Inc. (U.S.), Netgear, Inc. (U.S.), and Genetec Inc. (Canada).
The global IP video surveillance market has been segmented based on component and application. By component, the market has been segmented into hardware and software. The hardware segment has been further segmented into cameras, monitors, and servers. The software segment has been further segmented into video analytics and video management. The hardware segment was the largest in 2016 while the software segment is projected to capture a CAGR of 15.01% over the forecast period. The camera sub-segment under the hardware segment dominated the market in 2016 while the server sub-segment is expected to be the fastest growing sub-segment over the forecast period. The video management sub-segment under the software segment led the market in 2016 while the video analytics sub-segment is expected to gain traction over the forecast period and surpass the video management sub-segment. By application, the market has been segmented into BFSI, government, manufacturing, healthcare, retail, and others.
By region, the global IP video surveillance market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America accounts for the lion's share of the global IP video surveillance market. Rising speed of technological adoption leads to deep penetration of IP video surveillance across various industries in the region. Moreover, high disposable income, the presence of major players and well-established infrastructure in the region can be attributed for the growth of the North America market for IP video surveillance. Asia Pacific market for IP video surveillance is expected to witness relatively faster growth as compared to other regions. Technological developments, quick adoption, and growing concerns regarding security in the region augment the growth of the market in Asia Pacific.
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