The mobile video surveillance market is projected to be worth $4,337 million by 2030, growing at a compound annual growth rate (CAGR) of 8.6%, according to P&S Intelligence.
As outlined in a new report, this growth can be credited to the growing usage of the internet, partly because of the increasing acceptance of smartphones and tablets, which, ultimately, will boost the demand for higher storage.
The report highlights that in recent years, the mobile surveillance industry has grown due to the robust requirement for wireless video streaming with a camera sending the live feed straight to a control center.
The acceptance of video photographic cameras with motion sensors for object tracking by police departments is the major trend in this space, the report says. The flexibility that body-worn cameras provide supports in recording an incident as observed by the police officer.
The utilization of drones by the police in numerous nations, including the US, to keep a check on larger areas is another trend.
Along with this, the rapid acceptance of high-definition cameras is driving the development of the industry. 1080p cameras are progressively being accepted as they offer a high-quality clip of an event.
Based on offering, the report says that the hardware category holds a significant industry share, of 42%, credited to the improvements in cameras, such as better recording excellence in low light, motion detectors for item tracking, in-built microphones, information encoding and other cybersecurity procedures, as well as support for both cellular and Wi-Fi networks.
The transportation vertical is projected to dominate the market with an above 60% share, credited to the constant efforts of transportation establishments, governments and businesses to offer stronger protection to passengers using surveillance against terrorism, thefts, fraud and vandalism.
With the usage of tablets and smartphones, video surveillance can used on mobile devices, including laptops, smartphones and tablets, linked to the internet. This supports in advancing public security and safety by allowing for timely involvement in any unwelcome incident.
North America currently dominates the mobile video surveillance industry and the region is projected to be dominant throughout the forecast period, with a worth of $1,080 million, credited to the quick acceptance of cutting-edge technologies.
The continent has also experienced numerous criminal and terrorist attacks in recent years. Thus, the report says that the growing usage of such cameras along international and state borders will drive the need for them in the continent in the coming few years.