Over the last few years, rising security concerns, along with the need for highly efficient and time-saving surveillance system at an affordable price in several industry verticals gave rise to the video surveillance systems. Further, the surveillance system is extensively used in various areas such as parks, stadiums, hospitals, retail outlets, and banks, among others. According to the market intelligence report by BIS Research titled, ‘Global Video Surveillance Market-Analysis and Forecast (2017-2023)’, the market is expected to reach at a niche level by the end of 2023, registering a CAGR of 12.9% during the forecast period. This tremendous growth is attributed to the rising demands for Video Content Analytics (VCA), and Video Surveillance as a service (VSaaS), incorporation of artificial intelligence in video surveillance systems, increasing demands for intelligent transportation systems, and integration of surveillance with technologies such as drones and body-worn cameras.
The Video Surveillance system is gradually turning into a major business enterprise; and moreover, is anticipated to get considerably bigger in the coming years. With security professionals and business owners vying to provide safety and security to their clients and employed staff, the technological upside of surveillance is becoming a primary cause for the promising rise in the frequency of its installations across the globe. Government agencies, institutional organizations and privately-owned corporations engaging in an extensive usage of surveillance cameras, further, the use of video cameras in private investigations is on an upswing as well. Internet-based and digital technologies have made it easier and cheaper to set and maintain surveillance systems in numerous institutions and organizations.