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Extensive insights into the Growth of Video Surveillance Security Cameras Market amidst COVID-19

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Video surveillance security cameras provide security for workplace and home. Additionally, it provides video data of any occurrence that may have happened or is about to happen. Riding on the back of increased crime rates, urbanization and long hours out of home, the global video surveillance security cameras market is anticipated to reach significant market valuation by the end of 2023 by expanding at a robust compound annual growth rate over the forecast period i.e. 2018-2023. The global video surveillance security cameras market is estimated to expand extensively owing to the ongoing demand for IP enabled cameras with HD video.

Market Size and Forecast

Factors such as growing criminal and violent activities and increased security concerns in the cities during the night are supplementing the growth of the North America security camera market. Further, the live video feeds required for real time investigation is boosting the growth of the video surveillance security cameras in this region.

Following the same trend, Latin America and Mexico regions are the major markets for the security cameras where the Mexico security cameras market is projected to reach notable revenue in upcoming years. Further, the Asia Pacific video surveillance security cameras market is estimated to expand with substantial growth rate by the end of 2023. Furthermore, rising terrorist incidences combined with growing criminal rate is promoting the demand for security cameras in European cities, thus encouraging the growth of overall video surveillance security cameras market around the globe.

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Market Segmentation

By Application

On the basis of application the global security cameras market can be defined into:

Commercial
Institutional
Border security
City Infrastructure
Residential
Industrial

By Type

On the basis of type the global security cameras market is segmented into:

Box Camera
Dome Camera
PTZ Camera
Bullet Camera
IP Camera
Day/Night Camera
Thermal (FLIR) Camera
Wireless IP Camera and
Other

By Components

While studying the global security cameras the market is segmented into:

Hardware
Software
Video Surveillance as a Service (VSaaS)

By Camera Resolution

Depending upon the resolution, global security camera market is segregated into:

HD
Non-HD
Full-HD
UHD

By Feature

Based on the features, the global security camera market has been studied and segmented into:

Fixed Cameras
Moving Cameras
Panoramic

By Technology

Further based on the type of technology used, the global security market is classified into:

Hybrid
IP

By Region

On the basis of region the Global Security Camera market is segmented into:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and challenges

The widespread adoption of security cameras in various sectors such as education, healthcare and commercial sector is driving the growth of the global security camera market. To promote the terror-free environment, the security cameras find its applications in government buildings and border security among other commercial infrastructure. Additionally, the overall cost effectiveness of security cameras is one the major reasons to bolster the growth of the global video surveillance security cameras around the globe. Further, rising concerns regarding security in residential sector combined with increasing per capita income are some of the ceaseless factors behind the growth of the market.

However, high cost depending on the number of units, monitor systems, lack of skilled workforce to manage security cameras along with low number of standardized security cameras are believed to dampen the growth of the global security cameras market in the future.