United States Video Surveillance Market - Growth, Trends, Forecasts (2020 - 2025)
In the United States, post the 9/11 terrorist attacks, there has been a significant rise in the demand for effective security and surveillance systems. The law enforcement authorities have started the deployment of drones for video surveillance, as they offer an effective real-time solution to track fugitives. Police departments of Arkansas, Little Rock, Miami-Dade, Florida, and Arlington, Texas, have reported the use of drones for surveillance. The integration of video surveillance solutions in the transportation industry is one of the major trends observed in this region. Furthermore, there are major advancements in video analytics and data extraction software in the United States region. For instance, the Multimodal Information Group's (MIG) video analytics program, includes several activities contributing to the development of technologies that extract information from video streams through systematic, targeted annual evaluations and metrology advances.
- The increased spending on military and defense has allowed these bodies to conduct R&D activities, resulting in new innovations, which allow them to better manage the security and safety of its people and the borders. For instance, in August 2019, the US military conducted wide-area surveillance tests across six Midwest states using experimental high-altitude balloons that carried hi-tech radars designed to simultaneously track many individual vehicles day or night, through any kind of weather.
- The increasing adoption of facial surveillance is another factor that is expected to drive the market growth over the forecast period. Adding to the scenario, the increasing government initiatives regarding the compulsory installations of the video cameras in the liquor stores to provide safety and security in the region is expected to boost the adoption of video surveillance systems.
- The United States is viewed as a lucrative market for video surveillance systems, due to which companies are setting up their businesses in the region, in order to capture a large set of customers, hence allowing them to achieve economies of scale. For instance, major manufacturers, such as Scylla, which combines behavioral analysis and weapons detection by video camera, entered the US market.
- In the defense sector, video surveillance has diverse applications, such as monitoring remote areas for human movement, coast guard vessels, offshore missile platforms, and the establishment of perimeter security. Supply side shocks are perhaps some of the most visible effects of the COVID-19's impact on the defense sector in the United States of America. Companies located in the USA are affected by the virus for components and demand among others, are the immediate victims of the pandemic.
- According to Diplomat Media Inc. companies that manifest visible shocks from the pandemic, paints a worrying picture in the United states of America. From February 10 to March 27, Lockheed Martin’s stock price has fallen by around 28%, and Thales’ by 33%.
Key Market Trends
Emergence of VSaaS as a Viable Commercial Model is Driving the Market in the Region
- With the development of smart cameras and various types of associated sensors, there has been a shift toward more in-band analytics. This convergence of factors is laying a strong foundation for SaaS. For instance, surveillance services are centralized in commercial premises where they use smart cameras, along with in-band analytics and other associated sensors for automating functions that require multiple personnel. These factors have enabled a more proactive approach to perform surveillance and connect the gaps between a prosecution model, with a more efficient security system.
- Cloud-based services, in specific, are experiencing a rapid surge in adoption by users in the surveillance industry. When studied in detail, there are some significant benefits to moving a locally recorded video data onto the cloud. This makes it easier to push access to the security monitoring teams, who ensure enhanced coverage, prevention of evidence tampering, and faster response time. Nowadays, advanced VSaaS solutions offer different mechanisms, like video data compression, and setting up event-based rules on the VSaaS solutions to optimize incoming video for various connection speeds.
- In cloud-based VSaaS solutions, the video is transferred to cloud, where processing and video management is performed rather than via on-site computers. The data recorded by the cameras is directly related to a cloud-based server, where the archival and secondary processing is completed. Though VSaaS has been a prominent choice of commercial and residential users, bandwidth costs have always been a major concern while sending high-resolution videos onto the cloud.
Diminishing IP Camera Prices Coupled with Technological Advancements in Analytics & Software is Boosting the Market Growth
- The rapid transition from analog cameras to IP cameras has revolutionized the adoption of video surveillance solutions, with improvements, such as sharper, high-definition digital images, and advancement in video analytics and neuro networks. The increase in production has also led to a decrease in prices and increasingly widespread adoption.
- Growing demand for modern security technologies in industrial facilities to ensure the safety and security of workers is also augmenting the need for IP cameras. The growth of inclination toward security, along with the innovation in the video analytics and the need to upgrade from analog to digital, is expected to boost the growing demand in the global video surveillance market in the United States of America.
- The demand for video analytics software is driven by its ability to be integrated with the initially deployed analog, IP, or megapixel cameras within establishments, thereby eliminating the need for the deployment of additional hardware. Video analytics is becoming a more reliable and trusted technology, which can help to free up public safety staff for valuable tasks and provide solutions that better serve citizens’ needs.
- Thus, increased demand for video analytics has been demanding more surveillance data analyze video patterns, which, in turn, is driving the growth of the video surveillance market in the region.
The United States Video Surveillance Market is moderately competitive and consists of some influential players. In terms of market share, few of these major players currently dominate the market. The market shows an augmented growth rate due to the effective pressure exerted by the market forces, both internally and externally. Specific areas in the market are expected to accomplish an absolute lead in the marketplace owing to improved strategies. The absorbed costs in the market are effortlessly dealt with, unlocking more room for expansion in the market.
- February 2020 - Bosch has launched the IP 3000i portfolio which is available in micro dome, mini-dome, bullet and turret options for indoor and outdoor use. This new camera range offers complete flexibility for everyday surveillance in standalone All Bosch IP 3000i outdoor camera models are rated IK10 for high impact resistance and can withstand challenging weather conditions because of their IP66 rating. The cameras offer built-in Video Analytics as standard and are built for high-quality performance and designed for easy installation.
- January 2020 - Honeywell partnered with Wuhan Donghu New Tech Development Zone Anti-Coronavirus Department to spread the security equipments to 50 hospitals across Hubei Province. It has also announced that it will donate USD 1 million worth of equipment to support the fight against the coronavirus outbreak.
- May 2019 - Schneider Electric completed the sale of video surveillance manufacturer Pelco to Transom Capital Group, a middle market private equity firm, for undisclosed terms. The company has entered into exclusive negotiations to sell Pelco to the Los Angeles-based private equity firm. The company has purchased the privately held Pelco for USD 1.54 billion in 2007.
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- 1 INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Infrastructural Improvement Programs Undertaken by Key Federal Governments Through Their Digital Transformation Initiatives
- 4.2.2 Diminishing IP Camera Prices Coupled with Technological Advancements in Analytics & Software
- 4.2.3 Key Innovations in the Field of Object Detection Aiding Adoption in Transportation and City Surveillance Domain
- 4.2.4 Emergence of VSaaS as a Viable Commercial Model
- 4.3 Market Challenges
- 4.3.1 Privacy, Bandwidth and Compatibility Concerns with Existing Legacy Systems
- 4.4 Market Opportunities
- 4.4.1 Emergence of Commercial Off-the-shelf Analytics Solutions
- 4.4.2 Public Private Partnerships in Infrastructure Sector
- 4.4.3 Continual Advancements in Hardware & Analytics Space
- 4.5 Industry Value Chain Analysis
- 4.6 Industry Attractiveness - Porter's Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Analysis on the Impact of COVID-19 on the Surveillance Systems Industry in the USA
- 4.8 Key Case Studies & Implementation Use-cases for City Surveillance
- 4.8.1 Implementation of Centralized Surveillance Systems & Growing Levels of Per-capita Spending on Security
- 4.9 Best Practices Adopted by Key Manufacturers in Key Segments
- 5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Cameras
- 5.1.2 Video Management Systems & Storage
- 5.1.3 Video Analytics
- 5.1.4 Other Types
- 5.2 End User
- 5.2.1 Commercial
- 5.2.2 Retail
- 5.2.3 National Infrastructure & City Surveillance
- 5.2.4 Transportation
- 5.2.5 Residential
- 5.2.6 Other End-user Verticals (Industrial, Defense, etc)
- 6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Dahua Technology Co., Ltd.
- 6.1.2 Bosch Security & Safety Systems
- 6.1.3 Hikvision Digital Technology Co., Ltd.
- 6.1.4 Hanwha Techwin
- 6.1.5 Schneider Electric SE
- 6.1.6 Honeywell Security Inc
- 6.1.7 Panasonic Corporation
- 6.1.8 NEC Corporation
- 6.1.9 Genetec Inc.
- 6.1.10 Axis Communications AB (Canon)
- 6.1.11 CP Plus International
- 6.1.12 Avigilon Corporation
- 6.1.13 Allied Telesis, Inc.
- 6.1.14 Infinova Corporation
- 6.1.15 Palantir Technologies
- 6.1.16 Cisco Systems, Inc.
- 6.1.17 Agent Video Intelligence Ltd.
- 6.1.18 Verint Systems Inc.
- 6.1.19 Nice Systems Limited
- 6.1.20 Qognify Inc.
- 7 INVESTMENT ANALYSIS
- 8 MARKET OPPORTUNITIES AND FUTURE TRENDS