Video surveillance market is projected to grow from USD 42.9 billion in 2021 to USD 69.1 billion by 2026
[276 Pages Report] According to MarketsandMarkets, the video surveillance market is projected to grow from USD 42.9 billion in 2021 to USD 69.1 billion by 2026; it is expected to grow at a CAGR of 10.0% from 2021 to 2026.

According to a research report "Video Surveillance Market with COVID-19 Impact Analysis, By Offering (Hardware (Camera, Storage Device, Monitor), Software (Video Analytics, VMS), Service (VSaaS)), System (IP, Analog), Vertical, and Geography - Global Forecast to 2026" published by MarketsandMarkets, the video surveillance market is projected to grow from USD 42.9 billion in 2021 to USD 69.1 billion by 2026; it is expected to grow at a CAGR of 10.0% during the forecast period. Owing to COVID-19, the video surveillance market faced some headwinds for 2020–2021. IP cameras with increased hardware functionality and utilization of AI analytics in video monitoring systems are helping to deal with the increase in security threats worldwide. The rise of smart cities and IoT are expected to provide future growth opportunities for the market as modernized cities require innovative solutions to overcome long-term security challenges. Privacy and security concerns over video data restrain the market growth.
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Browse 173 market data Tables and 67 Figures spread through 276 Pages and in-depth TOC on "Video Surveillance Market with COVID-19 Impact Analysis, By Offering (Hardware (Camera, Storage Device, Monitor), Software (Video Analytics, VMS), Service (VSaaS)), System (IP, Analog), Vertical, and Geography - Global Forecast to 2026"
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Impact of COVID-19 on current video surveillance market size and forecast
The emergence of the COVID-19 pandemic, a deadly respiratory disease that originated in China, is now become a worldwide issue and has also affected the video surveillance market. Many end-use verticals deploying video surveillance systems have been affected by this crisis. As such, the market in 2020 experienced a 4% decline from 2019. Market players have witnessed supply chain disruptions for video surveillance equipment across both demand and supply sides. Several industry experts are of the opinion that the COVID-19 pandemic would start to subside by FY2021. Considering the inputs from various industry experts belonging to the various stages of the value chain, such as OEMs, suppliers, integrators, end-users, and distributors, and the financial release of various companies in the video surveillance ecosystem, it is estimated that the market will witness a marginal decline during 2019–2020.

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For instance, companies like Hikvision (China) and Teledyne FLIR (US) witnessed good growth in 2020. On the other hand, companies like Dahua Technology (China), Uniview (China), and Axis Communications (Sweden) remained relatively stagnant, whereas Hanwha Techwin (South Korea) witnessed a decline in revenue. The growth rate, however, will recover from 2021, and thereafter, is expected to keep rising during the forecast period.

Major vendors in the https://www.marketsandmarkets.com/Market-Reports/video-surveillance...utm_source=articles&utm_medium=SE+2873&utm_campaign=Shekhar" target="_blank">video surveillance market include Hikvision (China), Dahua Technology (China), Axis Communications (Sweden), Bosch Security and Safety Systems (Germany), Hanwha Techwin (South Korea), Avigilon (Canada), Teledyne FLIR (US), Honeywell International; (US), Panasonic i-PRO Sensing Solutions (Japan), Pelco (US), Uniview (China), Agent Video Intelligence (US), CP PLUS (India), Genetec (Canada), Huawei Technologies (China), NEC (Japan), NICE Systems (Israel), Qognify (US), Tiandy Technologies (China), VIVOTEK (Taiwan), MOBOTIX (Germany), Morphean (Switzerland), Verkada (US), Camcloud (Canada), and Ivideon (US).
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