Security and Surveillance Equipment Market size in terms of volume and value 2014-2020
Security & surveillance equipment refers to items or devices used to observe behaviour and activities of people or individuals. The equipment is installed for security purposes, i.e. for safety of people and property. Theft and fraud at various locations cause a huge amount of loss to individuals, organizations and government; this equipment helps detect this loss and minimise such activities as much as possible.
Security & surveillance equipment is also used for damage detection and structural health monitoring system in aerospace, automotive industry, naval, civil and other applications. Major advantages of using such equipment include theft prevention and safety assurance. It can also help analyse and provide valuable evidence during any criminal conviction and minimise expenses on manual security. Marketing challenges for surveillance equipment include constantly changing demands and requirements of customers, which involve continuous up gradation of its technology. Usage of security & surveillance equipment has certain limitations due to various jurisdiction and privacy concerns.
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The global market demand for security & surveillance equipment is rapidly increasing, owing to increasing criminal activities and a rising concern for safety and supervision. Major drivers for the growth of this market are government involvement and initiatives, integration of physical security with surveillance equipment, development of high definition and megapixels driving camera markets, evaluation of smart homes and organizations, a growing demand for advanced security & surveillance system and improvements in data storage like cloud or network storage and data storage systems. On the other hand, lack of standardization, high cost of cloud storage services, privacy concerns, limited availability of skilled professionals and high initial cost restrains the growth of this market.
Market segmentation for security & surveillance equipment is done on the basis of types, end-users, geography and applications. Types of security & surveillance equipment include cameras, audio surveillance equipment, and signal tracking, signal interception and computer surveillance software’s. The equipment includes products such as burglary/intrusion alarms, fire/smoke alarm systems, electronic alarm systems, electronic article surveillance systems, closed-circuit television systems, drug and other detectors, bomb/metal detectors, contraband detection equipment and other surveillance and monitoring systems. End-users of the equipment can be residential, retail, business organizations, transportation, government buildings, industrial sector, healthcare & medical sector, stadiums and others including critical infrastructure and educational institutions, etc. The largest end-user segments of security & surveillance equipment are industrial and commercial followed by government and military. Geographical segmentations include regions like Europe, North America, Asia-Pacific and RoW (Rest of the World). North America is further sub-segmented into the U.S. and Canada. North America is the largest market for security & surveillance equipment, followed by the Asia-Pacific region, which includes China, India and Japan. Europe includes Germany, the U.K., France and Italy. RoW is sub-divided into Middle East & Africa, Israel and Latin America. As discussed earlier, application segment of security & surveillance equipment include safety and security check, damage detection and structural health monitoring system in aerospace, automotive industry, naval, civil and other applications.
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Increasing violence, theft and property damage and technological developments in security checking devices are the two major trends in the market responsible for the increasing demand of security & surveillance equipment. Because of rising nanotechnology, this market is also experiencing innovations in size and shape of equipment, resulting in compact devices which can be cost-effective and may be installed anywhere. Product development and research & development activities are very important for this sector, as some areas like GPS system surveillance have become responsive to personal use and personal anti-theft use.
Many companies are into the business of security surveillance equipment but top players in this market are Hikvision Digital Technology Co., Sony Corporation, Zhejiang Dahua Technology Co.,
Swann surveillance systems, Defender surveillance systems, Uniden Corporation, Zmodo, Logitech, Samsung, Vivotek and Axis Communications. The security & surveillance equipment market will be in great demand in the coming years, creating a good opportunity for new players. Companies can be successful in this market provided they match up with the technical advancements and be able to spend more on their research & development activities.