The Business Research Company’s Surveillance
Technology Market covers market characteristics, size and growth,
segmentation, regional and country breakdowns, competitive landscape, market
shares, trends and strategies for this market.
The surveillance technology
market consists of sales of surveillance technology and related services.
Surveillance technologies are used to monitor a place, person or object in a
particular geographical location. Surveillance systems are utilized for
monitoring activities of workers, traffic and potentially illegal activities.
Surveillance technology includes surveillance systems based on video, audio or
biometrics.
Major players in the market are Dahua Technology, Axis Communications,
Panasonic, Honeywell Security and Bosch Security Systems.
The effectiveness of surveillance
technology in reducing crimes is one of the key drivers for the surveillance
technology market. This is mainly due to high success rate of surveillance
systems based on advanced technologies that help in reducing crimes. Most
crimes which earlier depended on eye-witness accounts can now be easily solved
with the help of surveillance systems such as surveillance camera. For example,
according to an article review published in the Journal of Scandinavian Studies
in Criminology and Crime Prevention in 2017, CCTVs reduced crime by 24-28% in
public streets and urban subway stations.
The privacy concerns associated
with the use of surveillance systems acts as a major restraint on the
surveillance technology market. With the advancement in surveillance
technology, it has become easier for the governments as well as corporates to
monitor the movements of citizens and employees. While surveillance by the
government is beneficial in recognizing potential threats, it has become a
major privacy concern for the general public. For instance, according to an
online survey conducted by Pew Research Center in early 2015, around 52%
Americans described themselves “very concerned” or “somewhat concerned” about
government surveillance of Americans’ data and electronic communications
stating it as "invasion of privacy" by the government. Similarly, a
2018 survey by Gartner found that 22% of organizations worldwide are using
employee-movement data, 17% are monitoring work-computer-usage data, and 16%
are using Microsoft Outlook- or calendar-usage data. This surveillance by the
corporates raises a concern of invasion of privacy among the employees, and
thus, is a restraint to the surveillance technology market.
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The surveillance technology
market has been geographically segmented into North America, Western Europe,
APAC, Eastern Europe, South America and Middle East & Africa. The APAC
market is the largest market for surveillance technology and is expected to
continue to be the largest market during the forecast period.
View complete Report: https://www.thebusinessresearchcompany.com/report/surveillance-technology-global-market-report
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