The wireless monitoring and surveillance market is growing continually. The market growth attributes to the rising need for efficient video surveillance in public and private sectors across the globe. Improving with technological upgrades, wireless monitoring systems are rapidly replacing the traditional monitoring and surveillance system. Various wireless technologies such as Wi-Fi, Zigbee, Bluetooth Low Energy, and NB-IoT are increasingly used for the efficient throughput of data transmission.
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Moreover, the advantages of wireless technologies, such as cost-effective monitoring and surveillance solutions, escalate market sales. According to Market Research Future (MRFR), the booming global wireless monitoring and surveillance market is expected to grow to USD 111.10 BN, registering 16.85% CAGR throughout the review period (2018-2023). Rapid urbanization and the fastest-growing economies worldwide positively impact market growth. Wireless monitoring and surveillance solutions are increasingly replacing traditional wired systems.
Additionally, the ability to connect with different IoT devices for remote surveillance increases the uptake of wireless monitoring and surveillance solutions in various end-users. However, wireless transmission has some disadvantages. Wi-Fi connectivity can be easily distorted or intercepted, which creates the need for a suitable precautionary measure such as firewalls. Nevertheless, the benefits that wireless monitoring offers, such as cheaper installation, flexible connections, and faster & accurate data transmission, would support the market growth throughout the assessment period.
Players leading the global wireless monitoring and surveillance market are National Instruments Corporation (US), Xsensio (Switzerland), Texas Instruments Inc. (US), Telensa Ltd (UK), D-Link Corporation (US), Actlight (Switzerland), Cisco Systems Inc. (US), Enevo (Finland), The ADT Corporation (US), Credit Karma (US), Uniden Corporation (Japan), Axis Communications AB ( Sweden), Attero (India), Robert Bosch GmbH (Germany), Honeywell International Inc. (US), Sigfox (France), and Panasonic Corporation (Japan), among others.
October 06, 2020 --- Resideo Technologies, Inc. (the US), a leading provider of home comfort and security solutions, announced the availability of its Honeywell Home ProSeries Security and Smart Home Platform. The ProSeries Platform is an entry-level security system to a fully integrated smart home solution offering an end-to-end solution for residential and small businesses.
The new ProSeries Platform offers a uniquely scalable, modular design and includes an all-in-one wireless security panel, combining three critical elements – security, fire safety, and smart home control.
Global Wireless Monitoring and Surveillance Market - Regional Analysis
Europe dominates the global wireless monitoring and surveillance market. The largest market share attributes to emerging start-ups and already established vendors in this region, catering need for effective security measures worldwide. Besides, the rising security and infrastructure budgets drive the growth of the regional market. Moreover, the presence of rapidly growing sectors such as defense, healthcare, and law enforcement in the region boost market growth.
Also, increasing upgrades in technologies and improvements in surveillance technologies foster the growth of the regional market. Growing adoption of advanced telecommunication technologies and monitoring systems in the region impacts the market growth positively. The European wireless monitoring and surveillance market is estimated to retain its leading position globally throughout the assessment period.
North America stands second in the global wireless monitoring and surveillance market. The market growth is driven by the presence of major technology providers, industry players, and technology development centers in the region. Additionally, high defense expenses and increasing demand for military wireless monitoring and surveillance systems foster regional market growth. The US, Canada, and Mexico contribute to the regional market growth excellently. The North American wireless monitoring and surveillance market is expected to demonstrate steady growth over the assessment period.
The Asia Pacific wireless monitoring and surveillance market is growing rapidly. Factors such as government initiatives and substantial R&D investments by public & private sectors influence the regional market growth. Besides, the dramatically rising defense and healthcare spending in the region act as a key driving force.
Simultaneously, the increasing deployments of advanced wireless monitoring and surveillance systems in the region positively impact the development of the regional market.
Also, wireless monitoring and surveillance manufacturers in China and Japan, with heir massive investments for the development of advanced technologies, substantiate the regional market growth. The APAC wireless monitoring and surveillance market is estimated to emerge as a lucrative market over the forecast period.
Wireless Monitoring and Surveillance Market - Competitive Landscape
Highly competitive, the global wireless monitoring and surveillance market appears fragmented with the presence of many well-established industry players. To gain a significantly larger competitive share, players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion, and technology/product launch. Technology providers strive to provide industry-leading solutions for surveillance and communication.
Global Wireless Monitoring and Surveillance Market - Segments
The report is segmented into five market dynamics;
By Component: Hardware (cameras, network equipment/nodes, servers, monitoring stations, others), Software, and Services (designing & implementation, monitoring, control services, others).
By Type : Wireless Security Monitoring System, Wireless Video Monitoring System, Wireless Network Monitoring System, Wireless Personal Monitoring System, and others.
By Connectivity: Wi-Fi, Bluetooth/BLE, Z-Wave, Zigbee, 6LoWPAN, NB-IoT, cellular/LTE, and others.
By End-User : Healthcare, Security, Infrastructure, Entertainment & Media, BFSI, Government, and others.
By Regions : Americas, Europe, APAC, and the Rest-of-the-World.
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