A video surveillance systems monitors and records the behavior and activities of people through cameras connected on a network. The adoption of video surveillance systems is increasing across varied verticals to provide security, protect infrastructures such as buildings, locations, and historical places from damage, and reduce incidences of unlawful activities such as robberies and terrorist attacks. The overall Video Surveillance Systems market is expected to grow from USD 40.8 billion in 2019 to USD 74.6 billion by 2025, at a CAGR of 10.4% during the forecast period. The growth of the overall Video Surveillance Systems market is driven by various factors such as increasing concerns about public safety and security, rising adoption of IP cameras, and demand for wireless and spy cameras.
In 2019, the Best Video Surveillance Systems market was dominated by Hikvision (China), Dahua (China), Axis Communications (Sweden), Bosch Security and Safety Systems (Germany), and Hanwha Techwin (South Korea). These leading players adopted a few major strategies in the Video Surveillance Systems market which created a significant impact. Strategies comprise product launches, strategic partnerships, and business agreements along with mergers & acquisitions.
Hikvision (China) is one of the leading suppliers of video surveillance products and solutions. The company has a state-of-the-art manufacturing process for innovative CCTV and video surveillance products across 20 locations around the world. Hikvision also offers security, visual management, video content, and Big Data services. The company operates in two major business segments: Video Surveillance Products and Innovative Business Products, which cater to markets such as public security, transportation, judicial systems, education, healthcare, financial institutions, energy, and intelligent buildings. Hikvision also focuses on inorganic growth strategies such as partnerships and collaborations which enable it to incorporate its applications with several other players in the video surveillance domain. As part of its growth strategy, the company should focus on expanding its video surveillance portfolio towards emerging and untapped markets around the globe. Targeting latent opportunities in these markets will help the company to maximize its revenue.
Dahua (China) is one of the leading designers and manufacturers of video-centric smart IoT solutions. Dahua specializes in video surveillance technology, in addition to its established businesses in machine vision, video conferencing systems, professional drones, electronic license plates, RFID, and robotics. Dahua Technology operates in three primary business segments: Solutions, Products, and Others. The company provides security and surveillance solutions, advanced series of front-end and back-end display control systems, and intelligent transportation solutions. It also provides services with customized features and offers professional security and surveillance systems applicable across public security, finance, transportation, energy, communications, and various other industries. The company is focusing on product launches and developments to expand its video surveillance product portfolio, especially in emerging segments such as smart city, smart homes, smart parking, etc. It also plans to increase investments in R&D in an effort to use upcoming technologies such as AI, big data, and cloud computing to develop smart video surveillance products for the urban market.
Axis Communications (Sweden) is one of the market leaders in developing and marketing video surveillance and access control solutions. The company continuously develops and launches innovative network products to retain its position as a market leader. Axis Communications majorly operates in two business segments: Video and Others. The company offers network cameras, video encoders, network video recorders, video management software, and system devices pertaining to the video surveillance market. The company has a global market presence, enters into long-term collaborations, and undertakes the development of innovative products and solutions. It continuously focuses on innovating surveillance cameras and investing a substantial amount of revenue in developing new security solutions. The implementation of Artificial Intelligence has helped the company meet its customers’ video surveillance product needs effectively and efficiently.
Bosch Security and Safety Systems (Germany) is well-established across the global video surveillance market. The Security Systems division offers innovative products and solutions in the field of security and communications, majorly for commercial applications. The product portfolio encompasses video surveillance, intrusion detection, fire detection, and voice alarm systems, as well as access control and building management systems, and professional audio and conference systems. The company primarily operates in all major regions, including Europe, Asia, and the Americas. It has also set up sales and representative offices across emerging markets in Africa, Latin America, and the Middle East to tap its end users. Product innovation is the company’s major strategy to compete in the Top Video Surveillance Systems market. Along with meeting the rising demand for video security, the company is investing in developing video analytics solutions to develop more intelligent security cameras. The company also focuses on inorganic strategies such as agreements, collaborations, and partnerships to expand its video surveillance product portfolio.