Market Trends of Global Video Surveillance Systems Industry
This section covers the major market trends shaping the Video Surveillance Systems Market according to our research experts:
Infrastructure Segment is Expected to Register Significant Growth
- The infrastructure segment encompasses road, rail, airports, stadiums, etc. Technological advancements in the industry have led to the development of night vision cameras that are designed to work in low-lit areas. Infrastructure segments, particularly roads, need night-vision cameras to monitor traffic and keep track of suspicious activities. These factors are anticipated to propel the system's demand in the infrastructure segment.
- In recent years, airports have witnessed an increase in the number of terrorist attacks and intrusions activities. The prevention of unauthorized access and the early detection of suspicious activities are the most pressing security challenges for airport operators.
- Furthermore, video surveillance is one of the crucial aspects of stadium security systems since manual monitoring of individual entrants becomes difficult during large gatherings. For instance, the organizing committee of the Tokyo Olympics 2020 announced that more than 8,000 surveillance cameras are being installed across venues spread across the country. Some of the security guards are also to be equipped with wearable cameras to monitor scenes in real time.
- Departments of Transportation (DOTs) are expanding their use of job site cameras to monitor their projects, improve safety, and minimize cost overruns as demand mounts on the infrastructure business to keep up with other sectors in terms of productivity. In March 2021, EarthCam and Infotech, a leading infrastructure development software solutions provider, announced a new integration with Infotech's Doc Express service, which would send crucial visual data directly into the DOT's workflow, easing the use of visual data in project management.
- In the midst of the COVID-19, the Transportation Security Administration of the US implemented social distancing and other safety measures at airport TSA checkpoints. Deep North, a start-up based in Foster City, California, received USD 196,880 in Phase 1 funding from the Department of Homeland Security Science and Technology Directorate Silicon Valley Innovation Program in March 2021 to use video analytics in airport screening processes to significantly reduce exposure and contact between passengers and transportation security officers.
- Further, with the development of smart cameras and various associated sensors, there has been a shift toward more in-band analytics. This convergence of factors lays the strong foundation for SaaS (Software as a Service).
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China in Asia Pacific is Expected to Dominate the Market
- Implementing the smart cities concept in the country is a major driving force for the video surveillance market in China. Advanced video surveillance systems have been integrated within city administration to improve efficiency. Yinchuan, China, is an example of an advanced smart city in which everything, from buses to trash cans, is incorporated into a unified system.
- The Hangzhou "City Brain" project, developed by Chinese retail and technology company Alibaba, was one of the first to use video surveillance. It uses camera systems and sensors throughout the city to collect data on road conditions in real-time. The information is fed into an AI hub, which manages traffic signals at 128 intersections and helps city officials make better decisions more quickly.
- According to a South China Morning Post article, China is making progress on a surveillance system that will connect security cameras nationwide via the cloud to a database of each individual's facial ID profile and a file of their details. The article sparked a discussion about whether the system already exists and what the potential risks are.
- The market has grown significantly in the Asia Pacific due to the increasing use of video surveillance cameras in the field of security and law enforcement, mainly to reduce the crime rate in countries like India and China. In China, cameras are primarily placed in public spaces and are funded by the government in order to deliver widespread video surveillance coverage within public areas.
- China is also a significant global driver of AI surveillance because it is home to manufacturers like ZTE, Huawei, Hikvision, and Dahua, who provide surveillance technology to over 63 countries, 32 of which have signed on to China's Belt and Road Initiative.
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