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Video surveillance software market to grow at highest CAGR during the forecast period

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The software segment of the video surveillance market is expected to grow at the highest CAGR during the forecast period. The software segment includes video analytics and video management system. Video analytics enhances video surveillance systems by performing the tasks of real-time event detection, post-event analysis, and extraction of statistical data while saving manpower costs and increasing the effectiveness of the surveillance system operation. Developments related to technological advancements like AI and deep learning have increased the need for launching new and innovative products to tackle the security crisis at every level. AI and deep learning are being adopted in various end-use applications such as crowd management, retail management, and license plate recognition, thus providing opportunities for the video surveillance market.

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[187 Pages Report] The global video surveillance market size is expected to grow from USD 45.5 billion in 2020 to USD 74.6 billion by 2025, at a CAGR of 10.4%. Increasing concerns about public safety and security, growing adoption of IP cameras, and rising demand for wireless and spy cameras are the factors driving the growth of the video surveillance industry. Increasing government and stakeholder funding for developing smart cities and employing city surveillance solutions, rising demand for VSaaS services, ongoing technological advancements in Big Data, IoT, and cloud-based services, and prevalent trends of artificial intelligence and deep learning for video surveillance systems will provide opportunities to players in the video surveillance market during the forecast period.

The infrastructure vertical to grow at highest CAGR during the forecast period

The infrastructure vertical of the video surveillance industry is expected to grow at the highest CAGR during the forecast period. Infrastructure includes areas such as transportation, city surveillance, public places, and utilities. City surveillance application of infrastructure vertical is the most prominent area for the video surveillance market, which is expected to grow at the highest CAGR.

Increasing investments by governments of various countries to increase safety levels in public places help to build the market. For instance, it is projected that China’s smart cities market will reach USD 59.9 billion by 2023 from USD 30.4 billion in 2018. The Indian government plans to build 100 smart cities by 2020;  several states, including Gujarat and Madhya Pradesh, have already completed smart city projects with advanced video surveillance systems. Implementation of various security and surveillance systems in smart cities will drive the growth of the market during the forecast period



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