The increasing penetration of internet, development of innovative technologies has encouraged the growth of the IP surveillance sector. The IP Video Surveillance Market is expected to grow over the future. Network cameras and video are expected to dominate the market over the forecast period, 2017-2023. It also digitizes videos and transmits them through a network. For instance, VIVOTEK provides high reliable and high performance IP surveillance system to meet the consumer’s need. IP video surveillance are being used in a variety of applications such as professional applications, home applications and SMB applications.
The global IP video surveillance market is expected to reach approximately USD 63 billion by the end of 2023 with 20% CAGR during forecast period 2017-2023.
IP Video Surveillance Market Players:
- Avigilon (Canada)
- Axis Communications (Sweden)
- D-Link (Taiwan)
- Genetec Inc. TM. (Canada)
- The Infinova Group (U.S.)
- Bosch Security Systems Inc. (U.S.)
- Hangzhou Hikvision Digital Technology Co., Ltd. (China)
- Panasonic Corporation (Japan)
- GeoVision Inc (Taiwan)
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IP Video Surveillance Market
According to Market Research Future, market has been segmented into device, hardware, software, end-users and region.
On the basis of end-users, the market has been segmented into banking & finance, healthcare, retail, manufacturing, residential among others. Out of these, BFSI and healthcare accounted for the largest market share majorly due to better standard of living, increasing disposable income, increasing consumer awareness about security and increasing demand for easy access of data.
Market Research Future Analysis
The global IP video surveillance market is expected to grow significantly over the forecast period, 2017-2023. Healthcare and BFSI segment of IP video surveillance market globally drives the market majorly due to increasing demand for safety in the emerging countries. The market is expected to have higher growth rate as compared to the previous years.
Asia-Pacific region expected to grow at a fast pace over the forecast period, 2017-2023 majorly due to high adoption of new technologies, large number of market players, growing security concerns and government initiatives to protect terrorism are the factors contributing to the growth of the market. However, the North-American region accounted for the largest market share over the forecast period, 2017-2023. The region is attributed to the growth in digitalization and increasing requirement for memory storage.
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