According to the research report titled ‘Global Surveillance Camera Market: Analysis By Product Type, End User, By Region, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)’, available with MarketStudyReport, global surveillance camera market was worth USD 26.41 billion in the year 2020 and is projected to grow substantially during the forecast timespan 2021-2026.
Strict regulatory standards in terms of environmental protection, supportive government policies, and rising consumer awareness of security are the key factors propelling global surveillance camera market growth.
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Furthermore, surging public and private sector investment in small and medium-scale companies will also stimulate market development in the upcoming years.
In addition, evolving technology offers a significant reduction in maintenance costs leading to expanding number of consumers from various industries. Furthermore, positive prognosis for the car and electronic sectors, as well as rising industrialization across developed and emerging economies will also positively sway the industry outlook.
Notably, the COVID-19 pandemic induced a slight surge in demand for surveillance cameras, as numerous top players began manufacturing the product for sectors such as construction, BFSI, and so on.
For those unfamiliar, surveillance camera system records photos and movies, which can then be compressed, stored, or transmitted across communication networks. These systems can be used in a variety of settings.
Worldwide surveillance camera industry is fragmented on the basis of product type (dome camera, box style camera, bullet camera, others), and end user scope, (BFSI, government & defense, manufacturing & construction, healthcare, residential, commercial, others).
End-user sectors like governments, businesses, financial institutions, and healthcare organizations are all required to have certain security and surveillance systems in place, which has led to growing demand for video surveillance to monitor and record borders, ports, business offices, educational institutes, public places, buildings, and other locations.
From the regional perspective, Asia Pacific industry is expected to witness considerable growth over 2021-2026, owing to continuous rise in demand for cameras in the region, and surging investments in emerging economies such as India and China because of low production costs and rapid industrialization.
Considering the competitive landscape, CP Plus, Pelco Inc., Robert Bosch GmbH, Axis Communications AB, Panasonic Corp., Teledyne FLIR LLC, Canon Inc., Ambarella Inc., Zhejiang Dahua Technology Co. Ltd., and Hangzhou Hikvision Digital Technology Co. Ltd., are the major contenders influencing global surveillance camera industry trends.
Questions and Answers:
Question 1: Which are the major companies influencing global surveillance camera market trends?
Answer 1: CP Plus, Pelco Inc., Robert Bosch GmbH, Axis Communications AB, Panasonic Corp., Teledyne FLIR LLC, Canon Inc., Ambarella Inc., Zhejiang Dahua Technology Co. Ltd., and Hangzhou Hikvision Digital Technology Co. Ltd., are the major players influencing the industry trends.
Question 2: What are the major growth drivers of global surveillance camera market?
Answer 2: Strict environmental regulations, supportive government policies, and rising consumer security awareness are the primary factors boosting industry growth.
Question 3: How is Asia Pacific emerging as a lucrative investment avenue in global surveillance camera market?
Answer 3: Continuous rise in demand for cameras, and rising investments in emerging economies such as India and China because of low production costs and rapid industrialization are enabling Asia Pacific to emerge as a strong investment avenue in the industry.
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