The trends are indicative of enormous growth in the contemporary U.S Video Surveillance Market. A recent survey by Allied Market Research confirms the market will grow to be worth about $23.60 billion by 2027.
During the forecast period (i.e., between 2020 to 2027), the expected CAGR is 13.9 %.
The covid-19 pandemic has been extremely crucial in fuelling the growth of the video surveillance market in the U.S. Integration of technologies like a cloud into video surveillance has also been rampant in the recent past, which has, in turn, prompted further growth of the market.
The surveillance systems have already been part of almost all industries. The IT industry has been no exception. There has been an unprecedented surge in cyber security incidents in the recent past. The nature of the attacks has evolved beyond expectations. This has prompted the increased use and further growth of Video Surveillance in the IT sector.
Enterprises are relying on cloud video surveillance to combine cameras with transferring information to cloud servers and read it online. Mobile internet has become much faster nowadays, and the common public can access information anywhere and much faster. Cloud video surveillance can be sorted using IP equipment, tablet devices, and cameras. As a consequence of these factors, the mobility and compactness of such technologies have improved. The maintenance cost and expenditure involved in the purchase are also reduced.
Organizations see video surveillance systems as apprehension and detection tools. Also, video surveillance is the best way to gain valuable insights into operational and employee actions.