Overview:
Wireless monitoring and surveillance is the latest security feature
being implemented in various areas using Wi-Fi technology. Its ability in
capturing images and video feeds at a rapid velocity and covering a large area
can lead to its implementation. The global wireless monitoring and surveillance
market report by Market Research Future (MRFR) covers drivers, challenges,
opportunities, and trends for the period of 2018 to 2023 (forecast period).
Implications of the COVID-19 pandemic on the industry have been taken into
account in the latest iteration of the report.
Market Scope
The global wireless monitoring and surveillance market is expected to
reach USD 111.10 billion in 2023 at a CAGR of 16.85% during the forecast
period. It was valued at USD 44.55 billion in 2017.
The market is driven by benefits of Wi-Fi such as flexible connectivity,
accurate data transmission, cheap installation, and fast transfer of data.
Implementation of remote surveillance networks for enhancing the security in
commercial and industrial premises can drive the market demand over the
forecast period. Wireless sensor networks are put in place for video monitoring
of specific places and archived for later viewing. Establishment of consortiums
for defining certain standards and rules for protecting data gained by
surveillance and monitoring can bolster the market demand. In addition,
development of mobile apps for monitoring and availability of customized kits
for easy installation of systems will benefit the market in the long run.
Alternative to Wi-Fi such as Bluetooth Low Energy, NB-IoT, and Zigbee
and the low security features of wireless technology are major challenges faced
by the market.
Segmentation
By component, the market is segmented into hardware, software, and
services. Hardware is further segmented into network equipment/nodes,
monitoring stations, cameras, servers, and others. Services are segmented into
monitoring, designing & implementation, and control services.
By type, the market is segmented into wireless personal monitoring
system, wireless video monitoring system, wireless security monitoring system,
and wireless network monitoring system.
By connectivity, the market is segmented into cellular/LTE, Wi-Fi,
Bluetooth/BLE, Zigbee, 6LoWPAN, Z-Wave, NB-IoT, and others.
By end-user, the market is segmented into healthcare, BFSI, security,
infrastructure, government, entertainment & media, and others.
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Regional
Analysis
The regional
analysis of wireless monitoring and surveillance market is studied for North
America, Europe, Asia-Pacific, and the rest of the world. Among the regions
mentioned above, the wireless monitoring system and surveillance have spread
its roots in North America and most of Europe. Wireless monitoring systems are
rapidly replacing the traditional monitoring and surveillance system. There is
a rising need for efficient video surveillance in public as well as private
sector across the US, Canada, UK, France, and Germany. There is a close
competition between North America and Europe for the dominating region.
However, Europe is expected to lead the market by the end of the forecast
period due to emerging startups and already established vendors in this region
catering to the growing need for effective security measures across the globe.
On the other hand, Asia-Pacific is expected to be the fastest growing region.
One of the major factors for this fast growth is urbanization and fastest
growing emerging economies.
Competitive
Landscape
National
Instruments Corporation, Axis Communications AB, Cisco Systems Inc., Uniden
Corporation, Panasonic Corporation, The ADT Corporation, Robert Bosch GmbH,
Honeywell International Inc., D-Link Corporation, and Texas Instruments Inc.
are key players of the global wireless monitoring and surveillance market.
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About
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