Market Analysis
Increased demand for surveillance has led to the unparalleled
growth levels in the mobile video surveillance. Market Research Future, a firm
which specializes in market reports related to the information and
communication technology sector among others, recently published a report on
this market. The mobile video surveillance market is growing rapidly with a 14%
CAGR and is expected to reach at approx. USD 27 billion by the end of forecast
period.
Reduced costs of IP cameras have been instrumental to the
growth of the market. Increase in the levels of security concerns in various
spheres have also boosted the need for the market’s products. Interest of
government authorities in ensuring citizen safety in public modes of transport
have been instrumental for the expansion of the market share of the industry.
Mobile surveillance is feasible mode for security solutions as it can be used
anywhere and has minimum setup requirements which has further fuelled market
growth.
Key Players
The prominent players in the mobile video surveillance market
are Apollo Video Technology (U.S.), Mid State Instruments (U.S.), Seon
(Canada), Floatograph Technologies, Maxxess Systems, LLC. (U.S.), Inc. (U.S.),
Strongwatch Corporation (U.S.), LLC. (U.S.), Rosco Vision Systems (U.S.),
Safety Vision, Maryland Security Professionals (U.S.), Briefcam (Israel), among
others.
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The cloud-based video or mobile video surveillance market has
seen tremendous growth in recent years. Because it provides a high-standard
security solution, the mobile video surveillance market is in high demand among
small and medium-sized businesses. There are big market players in the industry
that are investing heavily in this market. The market is gaining popularity
because it provides computer vision processing, storage platforms, and scalable
video imaging because of the intelligent mobile surveillance video
applications.
COVID-19 Impact on the Global Mobile Video
Surveillance Market
As with any other industry, the COVID 19 has a significant
impact on the mobile video surveillance market or mobile video surveillance
system. The shutdown and pandemic impacted and impeded demand for mobile
surveillance video for sale. The sale demand was diminished for a variety of
reasons. As a result, the industry is taking steps to improve procedures and
enhance sales among the targeted audience. The COVID 19 pandemic have had an
impact on technological output, and as a result, market demand has been
diminished. It causes a disruption in the supply chain.
As a result of the factors mentioned above, the government and
authorities offered business methods to deal with the mobile video surveillance
market or mobile video surveillance system growth plans in the current
projected years in order to prevent COVID 19 from affecting market statistics.
To cope with this pandemic and reclaim the demand and popularity of the mobile
video surveillance market, various key companies and the government adopt
different key methods. As a result, the market appears to have stabilized in
terms of sales and revenue generation.
Market Segmentation
The global mobile video surveillance market has been segmented
into system, component, and application.
By system, the global Mobile
Video Surveillance System Market has been segmented into analog video
surveillance and IP video surveillance.
By component, the global mobile video surveillance market has
been segmented into hardware, software, and services.
By application, the global mobile video surveillance market
has been segmented into military & defense, government, law enforcement,
school transportation, and transit & rail.
Regional Analysis
The regional analysis of the global mobile video surveillance
industry has been divided into Asia Pacific, North America, Europe, and the
Rest of the World.
North America is expected to account for the highest share of
the market among all other market regions. Following that, Asia Pacific is
expected to expand at the quickest rate of mobile video surveillance over the
projection period. Following that, the North American region rated first in
terms of mobile video surveillance system acceptance. The North American market
has the biggest market share because of the rising prospects in school buses
and police cars.
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