Growing video surveillance market driven by security concerns and IP technology, with North America leading

From Globe Newswire: 2024-10-08 13:30:00

Video surveillance technology allows for the capture, compression, storage, and transmission of videos and images for security purposes. The market is growing due to the rising security concerns and the shift towards advanced IP-based digital technologies. The market is segmented by type, component, and industry vertical, with North America leading in market expansion.

The IP-based segment is expected to have the highest CAGR due to the preference shift from analog to IP-based surveillance. Hardware components are projected to hold the largest market share, driven by reduced pricing and ongoing innovation. Commercial sectors, especially retail, are driving market growth with increasing demand for surveillance systems.

North America is leading the video surveillance market with growing implementation of security solutions, while Europe and Asia Pacific are also witnessing significant growth. The market in LAMEA is expected to grow considerably due to increasing security spending. Major players in the market include Hikvision, Dahua, Axis Communications, and Samsung Electronics Co.

Recent developments include Samsung launching the Samsung Newsroom in Singapore and Schneider Electric SE launching its omnichannel retail outreach in India. Straits Research Pvt. Ltd. provides actionable market research data for decision-making. Contact them for more information on target markets or follow them on social media platforms.



Read more at Globe Newswire: Video Surveillance Market Size to Worth USD 135.68 Billion