DUBLIN--(BUSINESS WIRE)--Sep 21, 2021--
The "United States Video Surveillance Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The United States video surveillance system market was valued at USD 10.99 billion in 2020, and it is expected to reach USD 21.86 billion by 2026, registering a CAGR of 12.2% during the period of 2021-2026.
In the United States, surveillance cameras are most common among private-sector retail and commercial establishments, such as hotels, restaurants, and office complexes. Amid the COVID-19 pandemic, the Transportation Security Administration of the United States is putting social distancing and several other safety measures into place at airport TSA checkpoints.
In March 2021, the Department of Homeland Security Science and Technology Directorate Silicon Valley Innovation Program announced USD 196,880 in Phase 1 funding to Deep North, a start-up based in Foster City, California, to utilize video analytics to airport screening processes to considerably minimize exposure and contact between passengers and transportation security officers.
- The rising adoption of facial surveillance is a vital factor that is gaining traction in the market. Chicago and Detroit have adopted facial surveillance. Detroit's million-dollar system could scan live video from cameras located at businesses, schools, health clinics, and apartment buildings, thus, helping the police. Additionally, Detroit incorporated plug-in surveillance networks through its Project Green Light program. With Project Green Light, businesses include CCTV cameras and connect them to police headquarters. They further place a bright green light indication next to the cameras to imply they are part of the police network.
- The region is also witnessing the rising adoption of smart home security cameras, which may further expand the scope of the market studied. AI-based video analytics further enhance efficiencies, offering many non-security-related insights for businesses, especially in smart city applications. In 2021, Amazon announced the AWS Panorama technology that enables integrators to work with a developer to easily create customized deep learning and video analytic apps for video surveillance cameras, regardless of manufacturer.
- Further, according to the American Civil Liberties Union of Utah, privacy issues are rising as more cameras record capture clearer details of people's daily lives. Also, major industry verticals are trusting surveillance as a better platform for altering the behavior of employees to yield better results. Corporate company's surveillance tactics had extremely negative effects on employees, resulting in the emergence of privacy issues, increased stress, and the loss of identity. However, like any intrusive technology, the benefits of deploying public video cameras must be balanced against the costs and dangers.
Key Market Trends
- Retail to Witness Significant Market Growth
- Residential Addresses a Major Market Potential
The US video surveillance market is highly 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 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.
- May 2021 - Genetec Inc. announced an update to the camera registry module of Genetec Clearance. This module allows cities and institutions to create digital public security programs that businesses, public agencies, and residents can enroll in their investigations. Once participants register their cameras, detectives can quickly find cameras near the investigation and request records to facilitate evidence collection.
- December 2020 - Hanwha Techwin signed an MoU with Benha Electronics and the Ministry of Military Production (MMP). The MoU states that Hanwha Techwin and the MMP will cooperate in expanding the reach of security solution applications, particularly in video surveillance, within Egyptian governmental organizations and their public projects across the country.
Key Topics Covered
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 Diminishing IP Camera Prices, Coupled with Technological Advancements in Analytics and Software
4.2.2 Emergence of Video Surveillance-as-a-Service (VSaaS) as a Viable Commercial Model
4.3 Market Challenges
4.3.1 Privacy and Security Issues
4.3.2 Need for High-capacity Storage for High-resolution Images
4.3.3 Restrictions Imposed on Chinese Companies Operating in the United States
4.4 Market Opportunities
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 Assessment of COVID-19 Impact on the Industry
4.8 Key Case Studies and Implementation Use-cases for City Surveillance
4.9 Best Practices Adopted by Key Players in Key Segments
5 MARKET SEGMENTATION
5.1.2 Video Management Systems and Storage
5.1.3 Video Analytics
5.2.3 National Infrastructure and City Surveillance
5.2.6 Other End-users
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Dahua Technology Co. Ltd.
6.1.2 Robert Bosch GmbH
6.1.3 Hikvision Digital Technology Co. Ltd.
6.1.4 Hanwha Techwin
6.1.5 Schneider Electric SE
6.1.6 Honeywell Security Group
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 FLIR Systems Inc.
6.1.20 Qognify Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/9n47ju
View source version on businesswire.com:https://www.businesswire.com/news/home/20210921005541/en/
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KEYWORD: UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY AUDIO/VIDEO
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 09/21/2021 05:45 AM/DISC: 09/21/2021 05:46 AM