Wireless Video Surveillance Market size is likely to expand substantially over 2021-2027, due to the massive deployment of wireless security cameras to fight crime and prevent terrorism worldwide. In 2020, there were over 5.2 million CCTV cameras installed in the United Kingdom, with 1 camera for every 13 people. Growing installation of innovative video surveillance cameras with integrated IoT and cloud technologies across parks, shopping centers, and other public places will also drive the industry outlook in the years ahead.
Wireless video surveillance refers to wireless security cameras that use Wi-Fi to transmit surveillance footage to the cloud-based server through the internet and view it on internet-connected devices. Often referred to as smart cameras, they are controlled with the use of an app and can also integrate with other smart home devices like smart speakers, Amazon Alexa, and smart locks.
Rapid evolution of smart cities and the subsequent surge in demand for real-time surveillance systems and other disruptive technologies are fostering the wireless video surveillance market trends. Extensive usage of transit surveillance systems to safeguard ground transportation against unfavorable incidents will also add impetus to the industry share over the forthcoming years. Robust hybrid security cameras are being deployed in city buses, cabs, trains, stations, and airports to prevent incidents of vandalism and other criminal events.
In terms of segmentation by product type, wireless digital video surveillance segment is expected to register significant growth over 2021-2027 worldwide. This can be credited to the burgeoning adoption of IP CCTV cameras as the main standard for data transmission in various networks, including security video surveillance systems. Growth from the segment will further be bolstered due to the capability of IP cameras to deliver better picture quality as compared to analog security monitors.
Regionally, Asia Pacific wireless video surveillance market is poised to account for a considerable share by 2027, as a result of the increase in crime rate in developing countries like India. The crime rate recorded per 100,000 population in India, for instance, surged marginally from 383.5 in 2018 to 385.5 in 2019. Furthermore, the increasing cases of bank robbery being caught on CCTV cameras will further boost interest in wireless video surveillance equipment in the region.
The competitive landscape of the wireless video surveillance market consists of companies such as Genetec, Frontpoint Security, Motorola Solutions, SEON technologies, Tyco International, Axis Communications (Canon), Cisco Systems, Hikivision (State-owned Assets Supervision and Administration Commission), and Bosch Security, among others. These firms are focusing on product innovation and strategic mergers and acquisitions to strengthen their presence across the global market.
For instance, Axis Communications introduced its all-in-one access control and video management system via AXIS Camera Station Secure Entry in April 2021. This end-to-end solution was designed to ensure trouble-free management of various sites by providing video-verified access control. In November 2020, Bosch unveiled its FLEXIDOME starlight 8000i camera with high resolution and low maintenance, installation time and costs. This product was designed to overcome resolution shortcomings and difficulties commonly associated with installing security cameras.
The ongoing coronavirus pandemic has posed significant challenges to the functioning of various industries, due to the movement restrictions and other strict measures implemented to limit the virus spread. The video surveillance industry, for instance, has been facing risks from a potential supply chain and production bottlenecks and falling demand spurred by component and labor shortages.
However, the rapid installation of wireless video cameras to track the movement of people during the lockdown may aid the wireless video surveillance market recovery to some extent. For example, the Chinese government had installed CCTV cameras at the apartment doors of COVID-19-infected patients during their 14-day quarantine period, to monitor their movement. Similar applications may drive up demand for video surveillance equipment in the years ahead.
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