Radiofrequency Identification Tags Global Market Report 2023 – By Tag Type (Active RFID, Passive RFID), By Material (Plastic, Paper, Glass, Other Materials), By Frequency (Low Frequency, High Frequency, Ultra High Frequency), By Application (Agriculture, Retail And Wholesale, Healthcare, BFSI, Transpiration And Logistics, Education, Other Applications) – Market Size, Trends, And Global Forecast 2023-2032

Radio-Frequency Identification (RFID) Tags Market Definition

The radio-frequency identification (RFID) tags market consists of sales of RFID tags and related services by entities (organizations, sole traders, and partnerships) that use hardware and software technologies allowing users to receive, store, and transmit data through radio-frequency waves. RFID tags are small devices (radio transponders) which that use electromagnetic fields to wirelessly transmit information about the objects they are attached to, to an RFID reader (or receiver which contains an antenna). RFID tags (or smart labels) transmit digital identification data to adjacent readers through radio waves and can store an array of data. ranging from a single serial number to multiple pages of information. Some RFID tags include cryptographic security features for a high level of verification and authentication. RFID tags are usually identified by their radio frequencies: low frequency (LF), high frequency (HF), and ultra-high frequency (UHF). Low-power embedded non-volatile memory plays an important role in every RFID system. RFID tags typically hold less than 2kB of data, including a unique identifier/serial number. Tags can be read-only or read-write, where data can be added by the reader or existing data overwritten.

The search, detection, and navigation instruments refer to the instruments used by nautical navigators and pilots as tools for their trade. Search, detection, and navigation instruments are used for searching, detecting, recording, and guiding to determine the speed, and direction to arrive at the point of destination. The main types of search, detection and navigation instruments are compasses, aeronautical and space navigation instruments, nautical navigation instruments and radio navigational aid apparatus. A compass is a tool for navigation and geographic orientation that displays the cardinal directions. It usually consists of a magnetized needle or another element that can pivot to align itself with magnetic north, such as a compass card or compass rose. The various technologies used are radio frequency identification based (RFID), cellular, network, Bluetooth, remote sensing services, real-time kinetic and others that are used for marine, aviation, military and other applications. The global search, detection, and navigation instruments market is segmented - 1) By Type: Compasses, Aeronautical and Space Navigation Instruments, Nautical Navigation Instruments, Radio Navigational Aid Apparatus 2) By Technology: Radio Frequency Identification based(RFID), Cellular, Network, Bluetooth, Remote Sensing Services, Real Time Kinetic, Other Technologies 3) By Application: Marine, Aviation, Military, Other Applications The global search, detection, and navigation instruments market size will grow from $283.87 billion in 2022 to $309.49 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global search, detection, and navigation instruments is expected to grow to $424.16 billion in 2027 at a CAGR of 8.2%. The increasing demand from civilian and defense aircraft manufacturing industries drove the search, detection, and navigation instruments market. The increasing demand was supported by rising disposable income, increasing air travel and military usage. Rise in working group and middle-class demography will affect the demand positively. For instance, in 2020, Airbus invested $1 billion to manufacture 63 A320 Family aircraft per month, beginning in 2021. Therefore, the increasing demand from civilian and defense aircraft manufacturing companies is expected to drive the growth of the search, detection, and navigation instruments market. Major players in the search, detection, and navigation instruments market are BAE Systems PLC., Leonardo S.p.A, Raytheon, Thales Group, United Technologies Corp., Agilent Technologies, Siemens Medical Solutions, Boeing, Thermo Fisher Scientific, and Medtronic PLC. Stringent regulations on tariffs limited the growth of search, detection, and navigation instruments manufacturing. Governments across the world are imposing tariffs owing to trade wars between countries, national defense or curtailment of monopoly powers, volatile oil prices and volatility in international trade. The World Trade Organization permitted the USA to tax European exports as much as $7.5 billion annually. As a result, the USA has imposed tariffs of 10% on imports of large civil aircraft, and industrial products among other goods from the European Union. The tariffs could raise prices for American companies importing goods and machinery thereby increasing the expenses. The increase in the import duties and taxes has a negative impact on search, detection, and navigational instruments market growth. Companies in the marine industry are preferring navigation instruments incorporated with augmented reality (AR). AR is a technology that reflects the digital information in the real world. Navigation systems integrated with AR technology provide great support to the sailors in ship keeping and related operations. For instance, Mitsui O.S.K. Lines (MOL) planned to install AR navigation systems on 21 very large crude oil carriers (VLCCs) operated by them. This navigation system will superimpose real-time video imagery and voyage information and provide support to crewmembers during their watch-keeping and ship operations visually. The benefits provided by AR technology in real time will increase the demand for instruments with such advanced technology. In January 2020, BAE systems, a British multinational defense, security and aerospace company acquired military GPS business from United Technologies for $1.93 Billion. The acquisition of GPS business from United Technologies will strengthen the professional and technical capabilities of BAE Systems to provide more comprehensive portfolio of solutions and adds new technology for BAE Systems that is compatible with industry-standard equipment and helps for the increasing product line. United Technologies is an American multinational conglomerate which operates in the fields of research and manufacturing products in numerous areas, including aircraft engines, aerospace systems and industrial products. Asia-Pacific was the largest region in the search, detection, and navigation instruments market in 2022. North America was the second-largest region in the global search, detection, and navigation instruments market share. The regions covered in the global search, detection, and navigation instruments market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the search, detection, and navigation instruments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The search, detection, and navigation instruments market consists of sales of compasses, aeronautical and space navigation instruments, nautical navigation instruments, radio navigational aid apparatus, and other search, detection, and navigation instruments . Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The search, detection, and navigation instruments market research report is one of a series of new reports from The Business Research Company that provides search, detection, and navigation instruments market statistics, including search, detection, and navigation instruments industry global market size, regional shares, competitors with a search, detection, and navigation instruments market share, detailed search, detection, and navigation instruments market segments, market trends and opportunities, and any further data you may need to thrive in the search, detection, and navigation instruments industry. This search, detection, and navigation instruments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Wafer processing equipment refer to equipment used to convert semiconductors such as gallium arsenide and crystalline silicon germanium into thin round slices, which can be used as a substrate for microelectronic devices. The main types of wafer processing equipment are oxidation systems, diffusion systems, epitaxial reactors, photolithography equipment, and other types. The oxidation systems in wafer processing equipment refer to the formation of silicon dioxide and are exposed to an oxidizing environment. The various applications include MEMS, RFID, CMOS image sensor, and other applications. These are used by medical, military, solar, industrial, and other end users. The global wafer processing equipment market is segmented - 1) By Equipment Type: Oxidation Systems, Diffusion Systems, Epitaxial Reactors, Photolithography Equipment, Other Equipment Types 2) By Application: MEMS, RFID, CMOS Image Sensor, Other Applications 3) By End Use: Medical, Military, Solar, Industrial, Other End Uses The global wafer processing equipment market size will grow from $138.3 billion in 2022 to $150.46 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global wafer processing equipment is expected to grow to $202.79 billion in 2027 at a CAGR of 7.7%. Increasing demand for consumer electronic devices is expected to boost the growth of the wafer processing equipment market. An increase in the demand for electronic products has raised customer expectations regarding improved characteristics of new electronic devices. Several consumer electronics and identity solutions including identification tags, smart cards, and more are combined with RFIDs and use wafers for the fabrication of integrated circuits. There is an increasing demand for these ultra-smooth surfaces and thinner wafers by customers for smooth incorporation into electronic devices. According to the India Brand Equity Foundation, the Indian appliance and consumer electronics (ACE) market value was $ 10.93 billion in 2019 and is predicted to double to reach $21.18 billion by the end of 2025. In addition to this, rising utilization and consumption of consumer electronic devices are likely to fuel the demand for semiconductors which in turn is expected to propel the revenues for the wafer processing equipment market during the forecast period. Major players in the wafer processing equipment market are Lam Research Corporation, Tokyo Electron Limited, Applied Materials Inc., SPTS Technologies Limited, Plasma-Therm LLC., Disco Corporation, Tokyo Seimitsu Co Ltd. (Accretech), Motorola Solutions Inc., KLA-Tencor Corporation, and Hitachi Kokusai Electronic Inc. Huge investment requirements for semiconductor manufacturing are expected to limit the market growth. High investment need is the biggest challenge in setting up semiconductor fab units. The initial investment for setting up a semiconductor fabs unit is around $8 billion and is likely to grow further in the forecast period. Moreover, high maintenance and continuous technology up-gradation add to the extra cost, acting as a major constraint for setting up the semiconductor manufacturing facilities. This scenario is anticipated to hinder the demand for wafer processing equipment from the semiconductor industry. Growing demand for miniaturized wafers with the improved performance of devices is a leading trend in the wafer processing equipment market. Semiconductor substrates such as wafers are thinned down to final thicknesses of tens of µm. Most of the semiconductor wafers such as those used in memory, CIS, and power applications are thinned down to 100 µm-200 µm. Further thickness reduction with the necessity to maximize the memory capacity of single packages, improved data transfer rates, and power consumption mostly fuelled by mobile applications is required in the case of memory devices. Standard memory devices such as 2D NAND/DRAM use silicon wafers that are thicker than 200 µm. By 2025, 3D stacked DRAM thickness is expected to keep reducing from 50 µm - 30 µm thick silicon substrates. Currently, BSI CIS wafers are the thinnest wafers across all applications with a thickness below 10 µm. Thus, ultra-smooth surfaces and thinner wafers for incorporation into the devices are continuously gaining popularity in recent years. In December 2021, YES (Yield Engineering Systems, Inc), a US-based manufacturing company engaged in providing process equipment for semiconductor advanced packaging acquired SPEC (Semiconductor Process Equipment Corporation) for an undisclosed amount. Through this acquisition, Yes would provide better technological expertise to markets including HPC, artificial intelligence/machine learning, 5G, autonomous driving, augmented reality, and other computationally intensive applications. This would further benefit its current and future customers. SPEC is a US-based manufacturing company providing wet process equipment for acid and solvent surface modification (cleaning, etching, stripping), electroplating, and electroless (chemical) plating for all industries that require high levels of cleanliness in their processes. Asia-Pacific was the largest region in the wafer processing equipment market in 2022. Western Europe was the second-largest region in the global wafer processing equipment market share. The regions covered in the global wafer processing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the wafer processing equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA. The wafer processing equipment market consists of sales of simple diffusion, osmosis and facilitated diffusion. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The wafer processing equipment market research report is one of a series of new reports from The Business Research Company that provides wafer processing equipment market statistics, including wafer processing equipment industry global market size, regional shares, competitors with a wafer processing equipment market share, detailed wafer processing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the wafer processing equipment industry. This wafer processing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Real-time location systems (RTLS) refer to a system that is used to automatically recognize and track the location in real-time. A real-time location system (RTLS) is one of several systems that recognizes a target's present geolocation, which can range from a vehicle to a manufacturing plant product to a human. The RTLS is used for fleet tracking, navigation, inventory and asset tracking, personnel tracking, and network security. The main types of components in real-time location systems (RTLS) are hardware, software, and service. In RTLS hardware, a transmitter is attached to an individual or property and uses a wireless signal to provide identification and location data to receivers. Signals from tagged assets are received by RTLS receivers placed across the facility, which identify the location. They can detect location either by the tag's proximity to receivers or by a mathematical technique called trilateration, based on the wireless technology employed. The different technologies include RFID, Wi-Fi, ultra-wideband (UWB), Bluetooth low energy (BLE), ultrasound, infrared (IR), GPS, and others and are used in inventory or asset tracking and management, personnel or staff locating and monitoring, access control and security, environmental monitoring, supply chain management, and operational automation or visibility, others. It is implemented in various verticals such as transportation and logistics, healthcare, retail, manufacturing and processing, and others. The global real time location systems rtls market is segmented - 1) By Component: Hardware, Software, Service 2) By Technology: RFID, Wi-Fi, Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, Other Technologies 3) By Application: Inventory Or Asset Tracking And Management, Personnel Or Staff Locating And Monitoring, Access Control And Security, Environmental Monitoring, Supply Chain Management And Operational Automation Or Visibility, Other Applications 4) By End Use Industry: Transportation And Logistics, Healthcare, Retail, Manufacturing And Processing, Other End User Industries The global real-time location systems (RTLS) market size will grow from $7.13 billion in 2022 to $9.2 billion in 2023 at a compound annual growth rate (CAGR) of 29.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the real-time location systems (RTLS) is expected to grow to $25.29 billion in 2027 at a CAGR of 28.8%. The increasing demand for smartphones is expected to propel the growth of the real-time location system (RTLS) market in the coming years. A smartphone is a portable electronic device that connects to a cellular network. Smartphones enable users to make phone calls, deliver text messages and connect to the internet. The growing population across the globe has led to an increase in the demand for smartphone. Smartphones are used for incident response and emergency management because of real-time location system (RTLS) innovation, which is used to automatically spot and track the destination of objects or people in real-time. For instance, according to the Mobile User Statistics report, in 2021, there will be 3.8 billion smartphone users worldwide, accounting for 48.33% of the global population. Therefore, the increasing demand for smartphones drives the real-time location system (RTLS) market growth. Major players in the real-time location systems market are Zebra Technologies Corp., Stanley Healthcare, CenTrak Inc., Ubisense Group PLC., TeleTracking Technologies Inc., Sonitor Technologies AS, AeroScout Industrial, DecaWave Limited, MidmarkRtls Solutions Inc., AiRISTA Flow Inc., SaviTechnology, Lockheed Martin Corporation, GE Healthcare, Impinj, Identec Group AG, and Ekahau. The growing technological advancements are shaping the real-time location system (RTLS) market. Major firms operating in the real-time location system (RTLS) sector are focused on developing technological solutions for real-time locating and monitoring of assets and employees. For instance, in July 2020, Advantech, a China-based provider of industrial computing platform solutions, launched a real-time location system (RTLS) solution-ready package (SRP) based on multi-mode sensing dynamic fusion (MSDF) technology. The MSDF technology, which uses a software algorithm to decrease interference from barriers, improves positioning effectiveness in challenging indoor environments, making it perfect for hospitals, nursing homes, and clinics. In February 2020, Qorvo, a US-based company that designs, develops, manufactures and markets a variety of high-performance analogue and mixed-signal integrated circuits, acquired Decawave for an undisclosed amount. With this acquisition, the Decawave team has become the Ultra-Wideband Business Unit (UWBU) within Qorvo Mobile Products. Decawave is a Europe-based company that provides real-time location tracking services. North America was the largest region in the real-time location systems (RTLS) in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the real-time location systems (RTLS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the real-time location systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The realtime location center market includes revenues earned by entities by showing real time tracking status of objects and providing data-based insights. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The real-time location systems (RTLS) market research report is one of a series of new reports from The Business Research Company that provides real-time location systems (RTLS) market statistics, including real-time location systems (RTLS) industry global market size, regional shares, competitors with a real-time location systems (RTLS) market share, detailed real-time location systems (RTLS) market segments, market trends and opportunities, and any further data you may need to thrive in the real-time location systems (RTLS) industry. This real-time location system (RTLS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Smart locks refer to a mechanical and electrical lock that may be opened wirelessly with authentication from authorized users by connecting to the home's Wi-Fi network, which allows it to receive the code or smartphone command to lock or unlock to enhance security. The main types of products in the smart lock market are deadbolts, lever handles, padlocks, and others. A padlock refers to a lock that is used for fastening two things together. The different communications technologies include Wi-Fi, Z-Wave, and Zigbee, and involve various authentication methods such as biometric, pin code, and RFID cards. It is used in residential, hospitality, enterprise, critical infrastructure, and other applications. The global smart locks market is segmented - 1) By Product: Deadbolts, Commercial, Padlocks, Other Products 2) By Communication Technology: Wi-Fi, Bluetooth, Zigbee, Z-Wave 3) By Authentication Method: Biometric, Pin Code, RFID Cards 4) By Application: Residential, Hospitality, Enterprise, Critical Infrastructure, Other Applications The global smart locks market size will grow from $2.14 billion in 2022 to $2.48 billion in 2023 at a compound annual growth rate (CAGR) of 15.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the smart locks is expected to grow to $4.21 billion in 2027 at a CAGR of 14.2%. An increase in the number of residential and commercial projects is expected to propel the growth of the smart locks market going forward. Residential projects refer to the buildings that are used for residential purposes and commercial projects refer to the buildings that are lent for business purposes. Smart locks are adopted by both commercial and residential projects as they provide safety by using different technologies. For instance, according to the Office of National Statistics, a UK-based government department, the monthly construction output increased by 3.5% in volume in November 2021. In addition, according to Invest India, an India-based national investment promotion and facilitation agency, the construction industry in India is expected to reach $1.4 trillion by 2025. Therefore, the increase in the number of residential and commercial projects is driving the smart locks market growth. Major players in the smart locks market are Allegion PLC, Assa Abloy AB, August Home, Cansec Systems Ltd., Dorma + Kaba Holding AG, Gantner Electronic GmbH, HAVENLock, Honeywell International Inc., Master Lock Company LLC, Onity Inc., Salto Systems, Samsung Electronics Co Ltd., Schlage, Spectrum Brands Holdings Inc., UniKey Technologies Inc., U-tec Group Inc., Vivint Inc., Yale Locks & Hardware (ASSA ABLOY AB), Avent Security, Goji, SDS Smart Locks, Mul-T-Lock, and Panasonic Corporation. Technological advancements are a key trend gaining popularity in the smart lock market. Major companies operating in the smart lock sector are focused on developing new technological solutions to meet consumer demand. For instance, in November 2022, Yale Home India, an India-based digital lock manufacturing company, launched the Yale YDM7220 BioSecure based on ioSecure technology. The Yale YDM7220 BioSecure is a smart lock system equipped with advanced technology that ensures that every touchpoint in your home receives regular cleaning and sanitization to reduce microbial contamination and the spread of diseases. In September 2021, Assa Abloy, a Sweden-based manufacturing company acquired Kwikset and Baldwin for a deal amount of $4.3 billion. The acquisition is expected to bring together four of the five top brands in the smart door locks category sold through the professional installation channel. Kwikset is a US-based manufacturer of residential locksets, and smart locks. Baldwin is a US-based designer and manufacturer of door hardware products. North America was the largest region in the smart locks market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart locks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the smart locks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The smart lock market consists of sales of adapted smart locks and native smart locks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The smart locks market research report is one of a series of new reports from The Business Research Company that provides smart locks market statistics, including smart locks industry global market size, regional shares, competitors with a smart locks market share, detailed smart locks market segments, market trends and opportunities, and any further data you may need to thrive in the smart locks industry. These smart locks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Surveillance technology means an electronic device or system that has the ability to monitor and collect audio, vision, location, heat, or similar information about an individual or group. The main types of surveillance technology market are video surveillance, big data, police body cameras, biometrics, domestic drones, face recognition technology, RFID chips, and stingray tracking devices. Biometrics are behavioural and physical human characteristics that can be used to digitally identify an individual in order to grant access to systems, devices, or data. The technology is stored on-premise and in the cloud and is used by the BFSI, government, healthcare, manufacturing, retail, IT, telecommunications, media, entertainment, and education industries. The global surveillance technology market is segmented - 1) By Technology: Video Surveillance, Big Data, Police Body Cameras, Biometrics, Domestic Drones, Face Recognition Technology, RFID Chips, Stingray Tracking Devices 2) By storage: On premise, Cloud 3) By End user: BFSI, Government, Healthcare, Manufacturing, Retail, IT & Telecommunication, Media and Entertainment, Education The global surveillance technology market size will grow from $130.08 billion in 2022 to $148.29 billion in 2023 at a compound annual growth rate (CAGR) of 14.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global surveillance technology market size is expected to grow to $234.72 billion in 2027 at a CAGR of 12.2%. The rise in need for safety in high-risk areas contributed to the growth of the surveillance technology market. The crime rate is increasing globally, and the rate of increase is varying across different countries. The surveillance technology is used to monitor the behaviour, activities or information to reduce the risk of crime. For instance, China uses 200 million cameras for public safety. According to the World Population Review, the crime index is 37 for 1.4 billion population in China. A review conducted by Cornell University, sponsored by Campbell Collaboration, the use of surveillance cameras resulted in a 51% decrease in crimes committed in parking lots and a 23% decrease in crime on public transportation in New York. The rise in need for safety in high-risk areas drove the surveillance technology market. Major players in the surveillance technology market are AxxonSoft, Milestone, Genetec, ExacqVision, Qognify, March Networks, Verint Systems, Magal Security Systems Ltd., Identiv, Panasonic Corporation, Salient Systems Corporation., OnSSI, Avigilon, DVTEL, and Lensec. Growing concern regarding privacy may limit the growth of the surveillance technology market. Surveillance means to monitor people in various possible ways. An organization monitoring customer sometimes leads to the loss of privacy data or any other important confidential data. Surveillance technology can provide opportunities for criminal, personal, and institutional abuse. Surveillance systems are being used by the camera operators to spy people, and eventually, blackmail using the videos from the surveillance system databases. In a few instances, these tools were used to stalk women, threaten motorists after traffic altercations, discriminatory targeting, and track estranged spouses. Therefore, growing concerns regarding the privacy hamper the growth of the 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. In December 2020, the ACRE, an electronic security systems and components manufacturer acquires Razberi Technologies, a Texas-based provider of video surveillance solutions, for an undisclosed amount. The acquisition was aimed towards strengthening the video and communications businesses along with the video surveillance product portfolio of ACRE. Asia-Pacific was the largest region in the surveillance technology market in 2022. North America was the second largest region in the global surveillance technology market share. The regions covered in the global surveillance technology market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The surveillance technology market includes revenues earned by entities by providing surveillance solutions that 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. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The countries covered in the surveillance technology market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The surveillance technology market research report is one of a series of new reports from The Business Research Company that provides surveillance technology market statistics, including surveillance technology industry global market size, regional shares, competitors with a surveillance technology market share, detailed surveillance technology market segments, market trends and opportunities, and any further data you may need to thrive in the surveillance technology industry. This surveillance technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.