The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Wireless Monitoring and Surveillance Market Share. The growth sectors of the Wireless Monitoring and Surveillance Market Share are identified with precision for a better growth perspective.
The global wireless monitoring and surveillance market was analyzed by Market Research Future (MRFR) and it was projected that an impressive CAGR of 16.85% will be attained by the market over the forecast period of 2018 to 2023. The valuation of the global wireless monitoring and surveillance market was further stated to surpass its previous valuation of USD 44.55 Billion in 2017 and reach USD 111.10 Billion by the end of the forecast period.
The study of the global wireless monitoring and surveillance market reports that the growing demand and need for security and better monitoring solutions has subsequently boosted the demand for improved monitoring and surveillance devices. These devices play a major role in the deployment of enhanced security systems. The wireless monitoring systems aids in monitoring a number of places, wherein it might not be suitable to include cables. The players who are manufacturing wireless security products also have a key role behind monitoring and executing these wireless operations.
MRFR reports that wireless cameras as a security system are becoming increasingly popular due to their comparatively low connection pricing. Add to this, it has elastic installing options. This way, the wireless cameras can be mounted across places which were previously unreachable to standard wired cameras. Moreover, it is extremely easy to use and its suitability of access, which enables operators of wireless safety camera to control the broadband wireless internet in order to offer smooth video streaming ove the internet.
Some of the other pointers contributing to the growth of the wireless monitoring and surveillance market are the rising implementation level of video analytics, growing demand towards installing video surveillance, surging usage of high-definition (HD) cameras, and an increasing need for enhanced security measures. Plus, features like flexibility, scalability, and reliability are also reported to be pushing the demand of the wireless monitoring and surveillance market. However, it should be noted that factors like the need for storage capacity, increasing issues concerning privacy, and the proliferating demand for high resolution pictures can all collectively hinder the market growth of wireless monitoring and surveillances.
The global wireless monitoring and surveillance market has been segmented in terms of type, end-user, component, and components.
By component, the market segments into software, hardware, and services. The hardware segment breaks down into servers, network equipment/nodes, monitoring stations, cameras, and others. While the services segment narrows down into monitoring, designing & implementation, and control services.
By type, the market is branched into wireless personal monitoring system, wireless security monitoring system, wireless network monitoring system, and wireless video monitoring system.
By connectivity, the market comprises into 6LoWPAN Bluetooth/BLE, Wi-Fi, Z-Wave, cellular/LTE, Zigbee, NB-IoT, and others.
By end-user, the market divides into entertainment & media, healthcare, BFSI, government, security, infrastructure, and others.
The global wireless monitoring and surveillance market comprises a host of key players. This includes names like The ADT Corporation (US), Cisco Systems Inc. (US), Texas Instruments Inc. (US), Axis Communications AB (Sweden), National Instruments Corporation (US), D-Link Corporation (US), Honeywell International Inc. (US), Robert Bosch GmbH (Germany), Uniden Corporation (Japan), and Panasonic Corporation (Japan).
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