Global Surveillance Technology Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

The surveillance technology market consists of sales of surveillance software development and related services. Surveillance technology refers to the development of software used in monitoring the behavior, activities, or information for managing, influencing, or directing.

Global Surveillance Technology Market Size And Drivers:

The global surveillance technology market is expected grow from $83.01 billion in 2020 to $90.33 billion in 2021 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $146.41 billion in 2025 at a CAGR of 13%. The rise in need for safety in high-risk areas contributed to the growth of the surveillance technology market.

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Trends In The Global Surveillance Technology Market

Artificial Intelligence (AI) is increasingly being implemented in the surveillance technology market. Artificial intelligence in surveillance technology is to analyze what is happening in the video. For instance, an application and web platform named Ella developed by IC Realtime uses the most advanced algorithms to analyze the most important events in the video from CCTV footage or video feeds. In most of the video monitoring systems, we cannot search for a particular event. Ella has a smart search option to search for important events in the videos recorded. It can recognize hundreds of natural language queries. Therefore, the use of artificial intelligence, which is a new trend in the surveillance technology market, is likely to provide growth opportunities to this market.

Global Surveillance Technology Market Segments:
The global surveillance technology market is further segmented –
By Technology: Video Surveillance, Big Data, Police Body Cameras, Biometrics, Domestic Drones, Face Recognition Technology, RFID Chips, Stingray Tracking Devices
By Storage: On Premise, Cloud
By End User: BFSI, Government, Healthcare, Manufacturing, Retail, IT & Telecommunication, Media And Entertainment, Education
By Geography: The global surveillance technology market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Surveillance Technology Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides surveillance technology market overviews, analyzes and forecasts market size and growth for the global surveillance technology market, surveillance technology market share, surveillance technology market players, surveillance technology market segments and geographies, surveillance technology market’s leading competitors’ revenues, profiles and market shares. The surveillance technology market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.