Published Date : Mar 06, 2017
Albany, New York, March 06, 2017 – Registering an impressive CAGR of over 21.0% from 2017 to 2021, the global market for wireless video surveillance is estimated to expand at a rapid pace. According to a report added to MarketResearchReports.biz, the paradigm shift from analog to Internet Protocol (IP) cameras is the most significant trend observed in the overall video surveillance market. The publication of 80 pages is titled “Global Wireless Video Surveillance Market 2017-2021” also notes the growing use of thermal cameras, which is likely to drive the market.
The low cost of wireless video surveillance installation, the availability of cheap labor, the low cost of maintenance, and low total cost of ownership are some of the key benefits offered by these systems, in addition to greater flexibility, easy installation, high quality, better compatibility with the needs of consumers, and improved scalability. Thermal cameras, specifically, are being increasingly used for their benefits of water and heat resistance to monitor unique, large-scale environments that are difficult to view. On the down side, however, lack of awareness among end users has been keeping the wireless video surveillance market from attaining its full potential.
The main regional markets for wireless video surveillance are the Americas, Asia Pacific, and Europe, the Middle East, and Africa. Dominating the global market are the Americas and experts in the industry predicts that this segment is likely to hold on to its lead through 2021. Nevertheless, the region will lose share in the coming years because being the early adopters of this technology, the level of saturation is rather near.
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Industrial, commercial, and residential are the three key sectors using wireless video surveillance solutions around the world. In 2016, the commercial sector took the lead and is likely to retain its winning streak throughout the forecast period. This can be attributed to the rising use of wireless video surveillance in retail firms and growing installation of security solutions to discourage as well as stop unauthorized access.
Bosch Security Systems, Hangzhou Hikvision Digital Technology, and Cisco Systems are the top three companies operating in the worldwide wireless video surveillance market. This immensely competitive market is increasingly diversified owing to the strong foothold of global as well as regional players. However, local vendors are finding it increasingly difficult to compete with the giants since global players have been making the most of their financial strength and pulling in their abundant resources to gain a larger share in the market.
On the whole, players have been turning to technological innovations, expanding product and service portfolio, and mergers and acquisitions to sustain themselves in the wireless video surveillance market. Other key vendors in this space include RadiusVision, LaView Eagle-Eye Technology, Toshiba, Sentry Communications and Security, FLIR Systems, Swann, D-Link, GO2Tech, Motorola Solutions, and Frontpoint Security Solutions.
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