The Asia-Pacific video surveillance market has grown significantly owing to its increasing use in the field of security and law enforcement to reduce the crime rate in countries of the region. The research report documents the use of video surveillance in various sectors and their growing popularity and importance.
Segmenting the overall market in Asia-Pacific on the basis of type, the main categories are software, and network video recorders (NVRs), cameras, servers, and digital video recorders (DVRs). On the basis of end users, the industry is categorized into retail, education, business services, transportation, manufacturing, and financial services. Each segment is analyzed in great depth in the market report, identifying strong and weak areas of operation, and suggesting growth opportunities for the same. Geographically dividing the market into India, China, Malaysia, Japan, South Korea, Singapore, Thailand, Taiwan, and others, the report explores the key regions and their contribution and market share in the overall industry. Emerging countries and their scope for expansion or growth are also analyzed, together with the major drivers and challenges.
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Overview of the Asia-Pacific video surveillance market
The market for video surveillance has made tremendous progress in Asia-Pacific as its applications have widened over the years. Technological advances have enabled the use of video surveillance at reduced costs and with minimum infrastructure requirement. Growing awareness regarding the need for electronic surveillance, coupled with rising utilization of cloud services is expected to fuel the market.
With the rise in crime rate in Asia-Pacific countries, surveillance solutions have changed the security conditions remarkably. Central and state governments have stepped up efforts and investments in the area, encouraging innovations. The availability of new megapixel solutions has also greatly contributed to the growth of the market.
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Markets in China have matured greatly owing to the popularity of cloud services in the telecom sector. Cloud-based video surveillance has been attracting a large number of suppliers owing to improvements in network bandwidth and decline in prices.
With competitors vying for a larger market share, product innovations have crept into the industry. Use of a thermographic camera in CCTV installations has enhanced video footage significantly, enabling 24 hour surveillance, even in the dark. A superior-quality 360 degree or 180 degree panoramic view camera has also taken the world by storm. Vendors are constantly trying to up their game, leading to a rapid growth of the Asia-Pacific video surveillance market.
On the other hand, factors that inhibit the growth include damage of cameras and surveillance hardware, data protection and privacy, and lack of uniformity within the industry.