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Global Video Surveillance & Service Industry
New Study On “Global Video Surveillance & Service Market 2019 Industry Analysis, Segment & Forecast Up to 2025” Added to Wise Guy Reports Database
The report published in Sheer Analytics and Insights on the global video surveillance & service market revealed the growth of the market to be at a notable pace. The valuation of the video surveillance & service market was further stated to surpass its previous valuation.
In recent years, there has been a monumental increase in the adoption rate of video surveillance technology by governments across the globe. This has prompted manufacturers to create IP surveillance systems with optimum capability. These cameras are used majorly in food chains, malls, departmental stores, work shop, and other public places to monitor and detect any suspicious activities. The increasing usage of the technology and growing security concerns are expected to boost the global video surveillance & service market.
The global video surveillance & service market comprises a host of key players. This includes names like Eagle Eye Networks, Inc., Brivo, Camcloud Inc., Envysion, Inc., Bosch Security Systems, Hikvision, Geovision Inc., Honeywell International Inc., Cisco Systems, Inc., Genetec Inc., and Nest Labs, Inc. The market comprises various key players that are intensifying the competition and pushing companies to strive harder to make a mark in the industry. The profiled players are reportedly spending in research & development activities and employing various growth strategies to proliferate in the competitive standings.
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The global video surveillance & service market has been segmented in terms of type and applications.
By component, the market segments into software, service, and hardware. Under the hardware component, the segment breaks down into sensors, cameras, and storage. While under the services component, the segment narrows down into managed, hybrid, and hosted.
By end-user, the market includes the following industries: government, healthcare, BFSI, defense, residential, industrial, and others.
The global video surveillance & service market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa.
The Asia Pacific region stands out as a key geography in the global market landscape. The market herein is expected to proliferate in the coming years primarily due to the presence of China, which is one of the leading countries in the VSaaS market.
In order to catch hold of speedy drivers, China uses next-generation speed cameras. These cameras boast the ability to catch drivers with unruly behavior on the road. The camera network is integrated with AI to differentiate the minutest of differences between cars. The AI-integrated camera system is a part of the Sky Net operation, which is the anti-corruption program of the country. In China, more than 170 million surveillance cameras are reportedly installed. By the end of 2020, the Asian giant expects to boast more than 570 million surveillance cameras to develop a comprehensive database that will identify any citizen within a matter of seconds. The penetration of the system in China is a clear indication of the positive direction the market is headed towards in terms of growth and expansion.
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