The Video Surveillance market was valued at US$30.37 Billion in 2016 and is projected to reach US$75.64 Billion by 2022, at a CAGR of 15.4% between 2017 and 2022, according to research published by published by MarketsandMarkets. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022. Implementation of video analytics, increased installation of video surveillance systems, usage of cloud-based services for centralized data, use of high-definition cameras, and the need for physical security are the major factors driving the growth of the video surveillance market. Growing safety and security concerns, rising crime rates, and increasing terror attacks are some of the factors driving the growth of the camera subsegment of the hardware segment. Continuously decreasing prices of cameras have resulted in an increase in the adoption of surveillance cameras across the globe. With the increasing use of cameras, the servers, storage devices, and monitors subsegments of the hardware segment are also growing at a significant rate.
Editor’s Note: After much discussion, Security.World is publishing this announcement by Persistence Market Research for their most recent market research report Video Surveillance Storage Market: Global Industry Analysis and Forecast 2016 – 2022. This US$4,900 report seems compelling in its presentation of data and information. However, when inspecting the research companies that are claimed to be ‘key vendors’ – and the lack of well known physical security / video surveillance storage companies (i.e. Pivot3, Promise, Quantum, Spectra Logic, BCDVideo, etc) the entire article becomes suspect at best. Before spending $5,000 on market research, review many of the storage market leaders that Security.World showcases and decide if this report is worth your support.
NTT Security today issued its quarterly Threat Intelligence Report, which underscores the need for more advanced tools to protect organizations’ data and networks from the evolving tactics, techniques and procedures (TTPs) used by cyber-attackers. A topic of considerable public attention is the ability to determine the source of cyber-attacks to determine their credibility and motivation.
Information and analysis company IHS Markit has made its predictions for electronic access control for the year 2017. According to its report, the access control market will increase this year by 6.8%, exceeding $4.2 billion. The company says deeper integrations with video surveillance, business processes and IOT will ensure that access control continues to play a larger role in enterprise. IT, integration and mobility (remote connectivity) specialists are expected to see more growth as logical/physical security integrations together with remote services such as access-control-as-a-service are expected to be some of the top trends. Mobile credentials and biometrics will be two of the top hardware trends to watch.
Demand for video surveillance equipment is likely to continue growing rapidly in 2017, however, price competition will remain intense. In its complimentary whitepaper, IHS Markit forecasts the world market will grow at an annual rate of less than 7%. Competition will not make it easy for vendors to grow revenues and margins. Some will fail in this regard and further consolidation of the supply base is inevitable. However, there will be opportunities for well-placed vendors and some end-user sectors will also grow quickly. So, what will be the big stories in 2017? Get your copy of this complimentary report.
According to market research firm MarketsandMarkets, The video surveillance market is expected to reach US$71.28 billion by 2022, at an estimated CAGR of 16.56% between 2016 and 2022. The major reason for the growth in video surveillance is due to the increasing rate of security threats, criminal activities, thefts, and others. The advancements in video surveillance applications such as cloud services, network cameras, big data analytics, and other technologies have increased the scope of the video surveillance market for wider application in different sectors.
Although Avigilon Corporation (AVO.TO) recently reported their financial results for the six months ending June 30, 1016, it hasn’t been well received for the Toronto-based security solutions provider. In order to achieve those record revenue figures, the company had to slash prices on many of its popular products. This means much lower operating margins and their earnings per share are half of what they were last year. Much of this is in direct response to Chinese companies, such as Hikvision and Dahua, taking a larger share of the market with a low-price strategy. Therefore, Avigilon has had to make some significant price adjustments to remain a market contender.
Scroll down and read about the 2016 Security.World Industry Influencers then vote for who you believe influences our industry the most. Who do you believe has great insight into the physical security and video surveillance markets that their advice needs to be followed? Who do you make sure you check out as a conference speaker, or follow closely on twitter, or read all their blogs? Below is a list of nominations submitted during July. Vote now and Security.World will accept and count the votes our community submits for the industry leaders and market influencers. Who do you vote for?
The report provides a basic overview of the Video Surveillance Storage industry including definitions, classifications, applications, and industry chain structure. And development policies and plans are discussed as well as manufacturing processes and cost structures.
The year 2013 was a pivotal one for the video surveillance industry, because it was when predictions of market concentration started to become a reality. It was also when the estimated market share of the top 15 video surveillance equipment suppliers jumped 10 percentage points over the previous year’s share. In short, 2013 was when the video surveillance market finally started to mature. But that is not the whole story. Supply was —and is— becoming more concentrated, but it was not primarily the result of the many acquisitions the industry has experienced in recent years.