Market Trends of Asia-Pacific Video Surveillance Systems Industry
This section covers the major market trends shaping the APAC Video Surveillance Systems Market according to our research experts:
Hardware Segment to Hold a Major Market Share
- The hardware segment holds a significant market share in 2021 and is expected to grow with a significant CAGR during the forecast year. In addition, video cameras offer 4K resolution capabilities. Moreover, 4K IP video cameras provide 27 times the high resolution compared to conventional analog cameras, four times better than a Full HD camera (1,920 1,080) and nine times that of a standard HD camera (1,280 720).
- These cameras with higher resolution primarily provide minor and finer details of images that remain clear when magnifying part of a still image. 4K enabled video cameras to offer a more detailed image that allows for better detail retrieval. Modern cameras also offer variable zoom lenses for a closer field of view. Many cameras are now offered a built-in microphone to stream and record audio during video recording.
- Various companies in the Asia-Pacific are focusing on mergers and acquisitions to hold a prominent position in the market. For instance, in March 2021, ACT Fibernet launched a new home security camera in India, ACT IP Cam, in partnership with TP-Link. The camera offers features like night vision clarity and up to 24 days of recording while supporting up to 128GB microSD cards.
- Cloud storage is another storage option where the video files are sent off to remote servers for storage. This storage method can be used as a backup option for the video files.
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China Market to Grow Significantly
- In the Asia-Pacific, China is the largest video surveillance market in the region. The country has built a vast surveillance network that utilizes cameras powered by facial recognition software, including cameras installed on streets, buildings, and lamp posts that can recognize and identify individual faces.
- The world's largest providers of video surveillance products, such as Hikvision and Dahua, is also a significant driver of AI-based surveillance solutions worldwide. These companies supply AI surveillance technology to various countries across the globe.
- For instance, In July 2021, Dahua Technology launched its Cooper-I Series XVR, which offers AI functions, including SMD (Smart Motion Detection) Plus and AI Coding. These advanced features are enabled by default and eliminate extra configuration, making the installation process significantly easier and faster.
- Face recognition technology enables matching a human face from a digital image or a video frame against a database of faces. It is widely used in China's video surveillance systems. The country's facial recognition startups are also attracting huge investments from many investors.
- For instance, in December 2021, Chinese AI startup SenseTime Group launched Hong Kong IPO to raise USD 767 million. The company provides technology-based applications, including facial recognition, video analysis, and autonomous driving.
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