A recent press release from RnR Market Research projects the commercial sector of global video surveillance market is expected to grow at the highest CAGR between 2016 and 2022, while geographically, APAC is forecast to hold the highest market share and grow at a high CAGR during forecast period. Here are a few key points from the release:
The major reason for the growth in video surveillance is due to the increasing rate of security threats, criminal activities, thefts, and others. The advancements in video surveillance applications such as cloud services, network cameras, big data analytics, and other technologies have increased the scope of the video surveillance market for wider application in different sectors.
An IP video surveillance system dominates the market since the price of high-image quality-based IP cameras prices reduce and use of IP cameras dominate analog cameras. Also, the implementation of video surveillance software with IP systems is easy and the portability of storage space for data storage increases its use in all sectors. These factors are likely to grow the video surveillance market for IP systems at a high CAGR.