Technavio, a tech-focused market research firm, has published a new report on the global WVS market, which is expected to grow at a CAGR of close to 21% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global WVS market into the following key regions: the Americas, APAC, and EMEA.
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WVS market in the Americas: The US government has augmented its budget for the deployment of defense and security systems in the country. The US Federal Energy Regulatory Commission is adopting certain standards for the safety of critical infrastructure in the Americas. Therefore, there is increased adoption of the security cameras among commercial, residential, utilities, and government sectors in the Americas to protect people and property.
According to Amit Sharma, a lead analyst at Technavio, specializing in research on IT security, “In the 2016 Olympics event that was held in Brazil, the government incurred heavy investment in surveillance cameras to protect the athletes and the premises. Further, the industrial sector in the Americas is experiencing a convergence of technologies, which is paving the way for the high adoption of wireless security cameras.”
WVS market in EMEA: The WVS market is witnessing growth in Europe due to the imposition of government regulations such as European Data Protection Directive. The demand for the security systems among commercial and government sectors is increasing in Europe because of increased security concerns. Besides this, the oil and gas industry has the highest demand for surveillance cameras due to the increasing number of thefts in the industry.
WVS market in APAC: The governments in APAC countries, due to security concerns, has made the implementation of CCTV camera mandatory in public places. Moreover, the emergence of retail chains in India will drive the market for better security systems. APAC is an emerging region for global trading and tourist activities, and this further propels the need for advanced wireless cameras in the region. Several factors, such as increased government spending, growing awareness, and an increase in private sector spending, are accelerating the demand for WVS systems in APAC.
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The top vendors operating in the global WVS market are:
- Bosch Security Systems
- Cisco Systems
- Hangzhou Hikvision Digital Technology
Other prominent vendors in the market include D-Link, FLIR Systems, Frontpoint Security Solutions, GO2Tech, LaView Eagle-Eye Technology, Motorola Solutions, RadiusVision, Sentry Communications and Security, Swann, and Toshiba.
A more detailed analysis is available in the Technavio market research report titled, ‘Global WVS Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Video Surveillance as a Service Market 2016-2020
- Global Residential Security Systems Market 2016-2020
- Global Mobile Broadband in Public Safety Market 2016-2020
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