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(IT-NEWSWIRE.COM, September 26, 2017 ) Video surveillance is monitoring of activities through video cameras, helping in capturing video images. Increasing demand and concern for security has resulted in the increase in the use of video surveillance. It is mostly used by the organizations for prevention and investigation on crime. Surveillance may not only be performed indirectly but may be stored, evaluated and repeated as often as necessary.
Video surveillance is often opposed by few as it hampers the privacy and sometimes can put public safety at risk. The rising adoption of surveillance systems by the public and private sectors coupled with the growing need for security are the key factors driving the global video surveillance market. The increased maintenance cost of existing surveillance system and the change in technology is leading to video imaging of everything. Also, decrease in the prices of cameras and other video surveillance equipment is creating a demand for the system.
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The video surveillance market is expecting growth in the coming years; especially due to rising instances of crimes .Previously, global video surveillance was only used by government and law enforcement entities but now it is used widely by businesses and everyday consumers including retail, banking, education and transportation. It can also be used for control and regulation purposes. The change in the quality, price, maintenance and installation of the devices increased the market and consumer demands.
The video surveillance market is expected to be dominated by the APAC region owing to a rapid adoption of new technologies. The primary reason attributable to this growth is the rapid adoption of technologies such as cloud services, analytics and security systems to protect infrastructure and economy from terror attacks and criminal activities. Furthermore, reduction in IP cameras prices and the overall hardware associated with video surveillance systems is expected to bolster the video surveillance market in this region.
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Global Video Surveillance Market Players:
- Bosch Security Systems
- Honeywell Security Group
- Axis Communications AB, Ltd.
- Hangzhou Hikvision Digital Technology Co., Ltd.
- FLIR Systems Inc.
- Panasonic System Networks Co., Ltd.
- Zhejiang Dahua Technology Co.
- Avigilon Corporation
- Samsung Techwin Co., Ltd.
- Nice Systems, Limited
- PELCO (by Schneider Electric)
- Infinova Corporation
Video Surveillance Market – Five Forces Analysis
-Bargaining Power of Suppliers
- Bargaining Power of Buyers
-Threat of Substitutes
-Threat of New Entrants
- Degree of Competition
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