Market Research Future (MRFR) asserts that the global wireless monitoring and surveillance market is predicted to garner USD 111.10 billion, grabbing a CAGR of 16.85% during the forecast period (2018-2023). The surging demand for cost-effective and better security management is estimated to favor the market growth. Wireless monitoring & surveillance is referred to as an advanced monitoring and surveillance measure which uses monitoring systems, cameras, and wireless connectivity. It is the Wi-Fi technology which is used in corporate as well as residential complexes. Wireless monitoring is considered faster than any other traditional methods as the Wi-Fi which is being used as a wide area coverage.
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Market Potential and Pitfalls
The market’s course is chiefly directed by the surging demand for cost-effective and better security management. With strict initiatives from the government on technology compliance and fast-moving growth of the network video market, the global wireless monitoring and surveillance market is considered to flourish. It has been noticed by the end-users that wireless monitoring is cheaper than any other traditional wired monitoring & surveillance. This is considered to propel the market growth throughout the appraisal period. Wireless monitoring offers several benefits which include cheaper installation, faster transmission speed, accurate transmission of data, flexible connections, and is an ideal solution for remote monitoring locations. Such benefits are estimated to propel the market growth throughout the appraisal period.
The demand for improved and security monitoring solutions has augmented the need for monitoring and surveillance devices. These devices play a crucial role in the development of improved security systems and also help to monitor in places where it is not feasible to include cables. Wireless cameras which act as a security system are becoming prominent due to their low connection prices. They possess elastic installation options and can be mounted in places where it is unreachable for the standard wired cameras. Moreover, the suitability of access, ease of use, wireless safety camera allows the operators to control broadband wireless internet in order to provide seamless streaming of video over the internet. Such factors have intensified the demand for Wireless Monitoring and Surveillance Market across the globe.
On the contrary, several disadvantages of wireless transmission are estimated to deter its market growth. As the signals of Wi-Fi can be easily intercepted, it becomes crucial for the system integrators to provide precautionary measures like firewalls. Moreover, surging demand for high-resolution images, the growing need for storage capacity, and issues related to privacy are likely to vitiate the market growth during the assessment period.
Wireless Monitoring and Surveillance Global Market – Segmentation
The Wireless Monitoring and Surveillance Market can be classified into 4 key segments for the convenience of the report and enhanced understanding;
- Segmentation by Component: Comprises Digital camera, network nodes, servers, and monitoring stations among others.
- Segmentation by Technologies: Comprises Video and IP technologies among others.
- Segmentation by End-Users: Comprises Shopping malls/commercial complex, Banks/financial institutions, Government (Municipalities, Military, law enforcement), Educational institutes, and Transportation among others.
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Some of the major players in Global wireless monitoring and surveillance market include Honeywell (U.S.), Axis communications (Sweden), Bosch security systems (Germany), Cisco systems (U.S.), Micropower technologies (U.S.), Pelco (U.S.), Aruba networks (U.S.), Panasonic Corporation (Japan), and D-link (U.S.) Corporation among others.
Wireless Monitoring and Surveillance Global Market – Regional Analysis
The wireless monitoring and surveillance market is divided into four regions, namely North America, Asia Pacific Europe and the Middle East and Africa (MEA). North America accounted for the largest market share, owing to increased adoption of new technological solutions, increasing competition among wireless security camera vendors, increasing demand for security and increasing disposable income. However, Asia-Pacific region is expected to grow over the forecast period, 2018-2023. The reason is attributed to technological developments, need for better picture quality and growing demand for security concerns.
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- Technology Investors
- Research/Consultancy Firms
- Original Equipment Manufacturers (OEMs)
- Research Organizations and Consulting Companies
- Network Equipment Suppliers
- Electrical Component Manufacturers
- Smart City Solution Providers
- Camera Manufacturers
- Technology Alliance & Forums
- System Integrators
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