Market Research Future (MRFR) asserts that the global wireless monitoring and surveillance market is predicted to garner USD 111.10 billion, grabbing a CAGR of 16.85% during the forecast period (2018-2023). The surging demand for cost-effective and better security management is estimated to favor the market growth. Wireless monitoring & surveillance is referred to as an advanced monitoring and surveillance measure which uses monitoring systems, cameras, and wireless connectivity. It is the Wi-Fi technology which is used in corporate as well as residential complexes. Wireless monitoring is considered faster than any other traditional methods as the Wi-Fi which is being used as a wide area coverage.
Market Potential and Pitfalls
The market’s course is chiefly directed by the surging demand for cost-effective and better security management. With strict initiatives from the government on technology compliance and fast-moving growth of the network video market, the global wireless monitoring and surveillance market is considered to flourish. It has been noticed by the end-users that wireless monitoring is cheaper than any other traditional wired monitoring & surveillance. This is considered to propel the market growth throughout the appraisal period. Wireless monitoring offers several benefits which include cheaper installation, faster transmission speed, accurate transmission of data, flexible connections, and is an ideal solution for remote monitoring locations. Such benefits are estimated to propel the market growth throughout the appraisal period.
The demand for improved and security monitoring solutions has augmented the need for monitoring and surveillance devices. These devices play a crucial role in the development of improved security systems and also help to monitor in places where it is not feasible to include cables. Wireless cameras which act as a security system are becoming prominent due to their low connection prices. They possess elastic installation options and can be mounted in places where it is unreachable for the standard wired cameras. Moreover, the suitability of access, ease of use, wireless safety camera allows the operators to control broadband wireless internet in order to provide seamless streaming of video over the internet. Such factors have intensified the demand for wireless monitoring and surveillance market across the globe.
On the contrary, several disadvantages of wireless transmission are estimated to deter its market growth. As the signals of Wi-Fi can be easily intercepted, it becomes crucial for the system integrators to provide precautionary measures like firewalls. Moreover, surging demand for high-resolution images, the growing need for storage capacity, and issues related to privacy are likely to vitiate the market growth during the assessment period.
The global wireless monitoring and surveillance market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW). The
The wireless monitoring system and surveillance is quickly spreading its wings across the North American and European regions. There has been reports of a surging need for an effective video surveillance system in both public as well as private sector across the major regional countries like the US, the UK, Canada, France, and Germany. There is an extremely tight competition between the North American and European region in the quest to lead the global market.
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).
Wireless Monitoring and Surveillance Market To Hit USD 111.10 Billion In 2023 At a CAGR of 16.85%,…
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