Market Research Future has revealed that the homeland security surveillance camera market is set to reach an estimated value of USD 10 Bn by the end of 2023 and witness a consistently upward CAGR of 7% over the forecast period of 2017 to 2023. Global concern regarding the threat of terrorist attacks and natural disasters have bolstered the need for security measures thus driving growth for the homeland security surveillance camera market.
The importance of surveillance in a rapidly urbanizing global environment is expected to be a key driver for growth. Increase in terrorist threats and the increasing use of well-placed surveillance cameras for the purpose of public security is driving the demand for homeland security surveillance cameras. Integration of internet protocol technology is expected to promote market growth and lead to advancements which produce opportunities for the market. Use of internet protocol in surveillance cameras allows remote access, motion detection and other features which help government agencies serve and protect their countries with greater efficiency. Other applications for homeland security surveillance cameras include use in the investigation of crimes, and traffic surveillance.
IP cameras offer various avenues for growth during the assessment period as they allow the addition of various features. The security of these cameras may be challenged by threats of cyber attacks aimed at disabling the camera. However, the demand for sophisticated surveillance equipment is expected to facilitate advancements in existing technologies and key players are developing tamper-proof surveillance cameras to mitigate any challenges that may come up.
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The homeland security surveillance camera market has been segmented on the basis of camera type, application, and region. By camera type, the market has been segmented into audio & video camera, integrated video surveillance camera, infrared camera, and IP camera. By application, the market has been segmented into infrastructure security, border security, and public protection. By region, the global market has been segmented into the Americas, Europe, the Asia-Pacific (APAC) and the Rest of the World (RoW).
Led by North America, the Americas account for the most significant share of the global market due to the presence of strong defense organizations with the swift adoption of the latest surveillance technology. The U.S. has an emphasis on maintaining border and infrastructural security. Due to the region’s, immediate adoption of the latest surveillance technology, major players in the area is constantly developing advanced surveillance equipment for government agencies.
The Asia-Pacific is a significant region in the global market due to increased government spending on surveillance equipment and growing awareness among government law enforcement agencies have created demand for advanced security cameras in the region. Rapid urbanization and the rising rates of crimes are some other drivers for the growth of the market in the region.
Several eminent market players have been included in the analysis of the global competitive landscape of the homeland security surveillance camera market. Market players included are Controp Precision Technologies Ltd., Honeywell International Inc., Netvu Ltd, Mitsubishi Electric Corporation, Vicon Industries, Inc., Baxall Construction Ltd, Panasonic Corporation, Moog Inc., Robert Bosch Gmbh, and General Dynamics Corporation among others
Latest Industry News
The Department of Homeland Security of the United States is testing a new surveillance camera which offers a facial recognition system. These cameras are set to be tested at the Texas border and will take photos of people arriving and departing in the US.
Increasing incidences of various crimes in India has brought about a joint venture between Prama and Hangzhou Hikvision Digital Technology. Prama Hikvision India (a 42:58 joint venture) is expecting to triple its capacity by setting up a manufacturing plant in India to need the demand for surveillance cameras from law enforcement agencies.