How COVID-19 is impacting the Mobile Video Surveillance Market?

The mobile video surveillance market was valued at USD 1.28 Billion in 2016 and is expected to reach USD 2.32 Billion by 2023, at a CAGR of 8.77% between 2017 and 2023. The base year considered for the study is 2016, and the forecast period is between 2017 and 2023.

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Hardware offerings are expected to hold a major share of the mobile video surveillance market during the forecast period. The demand for cameras, monitors, and storage solutions is high because these are the core components required in a surveillance system. The use of hardware components for transportation, city surveillance, and industrial applications has a significant contribution to the growth of the market for hardware offerings.

“Mobile video surveillance market for transportation vertical to hold the largest share during forecast period “

The mobile video surveillance market for transportation vertical is held the largest share during the forecast period. With the rise in crime, harassment, liability suits, vandalism-related and terrorism-related threats, the need for providing surveillance for the general transportation system has increased. Sea and inland ports are important transit points for international goods trading. Huge container ships lay anchor, discharge their consignments, and go out for new cargos. Mobile video surveillance system can be distributed across the port for monitoring all activities. 

“Mobile video surveillance market for drone application expected to grow at highest CAGR during forecast period”

The mobile video surveillance market for drone application is expected to grow at the highest CAGR during the forecast period. Drones can be easily deployed and integrated into command, control, communications, computers, intelligence, surveillance and reconnaissance systems. They have simple operational and maintenance procedures with high tactical capabilities. They are versatile and can carry out variety of missions such as mountain search and rescue, illegal traffic monitoring, support to ground forces, and intelligence missions, among others.

“APAC to grow at highest CAGR for the mobile video surveillance market during forecast period”

APAC is expected to grow at the fastest market for mobile video surveillance at the highest CAGR during forecast period. It has been found that China, Japan, Australia & New Zealand contribute significantly to the mobile video surveillance market in APAC region. The continuously rising demand for mobile video surveillance systems in the transportation sector is one of the driving factors. Factors such as increasing terrorist and crime activities, increased government spending on security equipment and initiatives to implement security cameras in public places help to drive the mobile video surveillance market in APAC region.  

Some of the major companies operating in this market include Axis Communications AB (Axis Communications) (Sweden), Bosch Security Systems GmbH (Bosch Security Systems) (Germany), Zhejiang Dahua Technology Co., Ltd. (Dahua) (China), Hangzhou Hikvision Digital Technology Co., Ltd. (Hikvision) (China), FLIR Systems Inc. (FLIR) (U.S.), Avigilon Corporation (Avigilon) (Canada), Pelco Corporation (Pelco) (U.S.), and Hanwha Techwin Co., Ltd. (Samsung Techwin Co., Ltd.) (Hanwha Techwin) (South Korea).

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