According to a new market report pertaining to the global farm video surveillance system market published by Transparency Market Research the global farm video surveillance system market is projected to reach value of ~US$ 3.6 Bn by 2027. The farm video surveillance system market is projected to expand at a CAGR of ~6% from 2019 to 2027. Expansion of the farm video surveillance system market can be attributed to increasing demand for precision farming, and increasing technological advancements in video surveillance systems. North America is anticipated to lead the global farm video surveillance system market in terms of revenue, followed by Europe, during the forecast period.
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Increasing adoption of Internet of Things (IOT) and Big Data: Opportunity
The purpose of adopting IoT is to link a device or system through the Internet and also to interconnect them. In case of video surveillance, network cameras can think independently and take smart decisions with the help of IoT. IoT in security and surveillance solutions enable farmers to control & manage surveillance systems remotely to monitor farm areas. IoT-based surveillance systems help to take smarter decisions on real-time security conditions and also gather & examine data to make significant enhancements in the farm. It provides various advantages to users to prevent the loss of critical assets. These include:
Constantly & securely monitor farmland conditions from a remote location with network communication technology (Wi-Fi)
Provide better visibility of intruders in real-time
Act speedily on essential security alerts through the user’s mobile device
Therefore, demand for smart CCTV and HDTV is expected to further increase with rising data security concerns. This is projected to influence the expansion of the farm video surveillance systems market in the near future.
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Farm Video Surveillance System: Market Segmentation
The global farm video surveillance system market has been segmented based on component, application, and region. In terms of component, the farm video surveillance system market has been segmented into hardware and professional services, in which hardware has been further bifurcated into camera and accessories (antenna, storage devices, monitors, and others [power adapter, alarm systems, cables]). Professional services has been divided into support & maintenance, installation & implementation, and consulting. Based on application, the market has been segmented into intruder monitoring, livestock & crop monitoring, water supply monitoring, employee monitoring, equipment monitoring, operation monitoring, and others (fire monitoring & weather monitoring).
Farm Video Surveillance System Market: Regional Outlook
In terms of region, the global farm video surveillance system market has been categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is leading the global farm video surveillance system market and expected to account for 33.2% market share in 2019. It is estimated to maintain its dominance during the forecast period. Additionally, the market in North America is also anticipated to expand at a growth rate (CAGR) of 8.1% during the forecast period.
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The farm video surveillance system market in Europe is projected to expand at a CAGR of 6.6% during the forecast period, due to dominance of big-size agriculture farms playing a big role in deploying advanced solutions in the region. The farm video surveillance system market in Asia Pacific and South America is expected to expand moderately during the forecast period.
The report provides in-depth segment analysis of the global farm video surveillance system market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries which offer considerable opportunities or account for significant share has also been included as part of geographic analysis for the farm video surveillance system market.
Farm Video Surveillance System Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global farm video surveillance system market. Key players profiled in the report include Axis Communications, Basler AG, Bosch Security Systems, Dakota Micro, Inc., Flir System Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Luda.Farm AB, Onsight247.com, ORLACO (Stoneridge, Inc.), Supercircuits, Inc., Tetracam Inc., and VideoSurveillance.com LLC.
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