The video surveillance market is expecting growth in the coming years; especially due to rising instances of crimes .Previously, global video surveillance was only used by government and law enforcement entities but now it is used widely by businesses and everyday consumers including retail, banking, education and transportation. It can also be used for control and regulation purposes. The change in the quality, price, maintenance and installation of the devices increased the market and consumer demands.
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The rising adoption of surveillance systems by the public and private sectors coupled with the growing need for security are the key factors driving the global video surveillance market. The increased maintenance cost of existing surveillance system and the change in technology is leading to video imaging of everything. Also, decrease in the prices of cameras and other video surveillance equipment is creating a demand for the system.
The integration of cloud services i.e. video surveillance as a service (VSaaS) plays an integral role in the video surveillance system. Video analytics and video management software form the software components for the video surveillance system. In addition, the use of algorithms and neural networks in the biometric surveillance system further add to the software components for video surveillance systems. It is expected that the advancement in networking services and software technologies will increase the use of video surveillance in the near future.
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The market for the commercial sector is expected to grow at the highest CAGR during the forecast period 2016 to 2025. The high demand for security systems in large and small retail businesses, financial institutions and banks to provide security to the buildings,...