Mobile Video Surveillance Market Gains Momentum
The mobile video surveillance market is projected to grow from USD 2.4 billion in 2022 to USD 3.6 billion by 2027; it is expected to grow at a CAGR of 8.7% during the forecast period. This is according to researchers at Marketsandmarkets, who also say that a number of factors, including increased camera resolution, increasing AI capabilities, and remote monitoring, are making it easier for mobile surveillance integrators to meet the demand from end users to meet their security and operational needs in various types of vehicles including transportation vehicles, police vehicles, and drones.
Increased demand for storage
A general fall in prices of surveillance cameras over time has also resulted in increased adoption worldwide, which, in turn, has created significant demand for storage solutions. The high demand for storage devices can also be attributed to the greater adoption of IP cameras. IP cameras record videos at higher resolutions and framerate. Some cameras simultaneously record sound alongside the video. These factors have increased the storage requirements; hence, storage devices are projected to grow at the highest CAGR during the forecast period.
IP video offer greater flexibility
IP cameras excel in capturing high-definition, high-framerate video. They also offer greater flexibility for interconnectivity with different cameras and expansion in the number of connected cameras. IP security cameras transmit data through encryption and authentication methods, such as WEP, WPA, WPA2, TKIP, and AES. IP cameras can also be connected wirelessly with an NVR. These cameras also offer remote access; they can be monitored from any computer anywhere in the world and many mobile devices, including smartphones and laptops. Owing to the increased capabilities of IP cameras and digital recording capabilities, many companies and organisations are switching to IP-based camera systems.
Strong demand in military & defence vertical
In military & defence, drones can be easily deployed and integrated into the Command, Control, Communications, Computer, Intelligence, Surveillance, and Reconnaissance (C4ISR) system. They have simple operational and maintenance procedures with high tactical capabilities. They are versatile and can carry out a variety of missions, such as mountain search and rescue, illegal traffic monitoring, support to ground forces, and intelligence operations. Mobile video surveillance is widely used in the military and aerospace segment for different applications, such as patrolling national borders (border security) and search and rescue missions. In addition, mobile video surveillance controls the entry of refugees in crucial areas, such as military base camps and border areas, monitors peace treaties, provides security perimeters around the base camps and embassies (perimeter security), and ensures resource exploration and target tracking.
Geographically APAC shows best growth potential
The market in the Asia Pacific is expected to be growing at the highest CAGR during the forecast period. Early adoption of new technologies, such as cameras, wireless connectivity, and integrated analytics for DVRs and NVRs, has resulted in the rising adoption of mobile video surveillance systems in the Asia Pacific. Also, government initiatives toward making cities safer against terrorists; high expenditure on security equipment; availability of low-cost mobile video surveillance systems by local manufacturers; and high demand for IP systems in transportation, law enforcement, and military & defence verticals are driving the growth of the Chinese mobile video surveillance market.
Major vendors in the mobile video surveillance market according to the analysts and mentioned in the research include – Hikvision, Dahua Technology, Axis Communications, Bosch, Hanwha Techwin, Avigilon, Teledyne Flir, Briefcam, Pelco, Uniview, Agent Video Intelligence, CP Plus, Genetec, Huawei, Seon Design, Pro-Vigil, Strongwatch, Rosco Vision, Vivotek, Mobotix, Wireless CCTV, Strops Technology, DTI Group and Ivideon.