Research and Markets has announced addition of the South Africa Video Surveillance Market 2016 to 2022 report to their offering. The South Africa video surveillance market generated $72.3 million in 2015. Expected growth in construction market, rising crime rate, upcoming new hotels and shopping malls, coupled with increasing urbanisation rate are some of the factors that have resulted in the growth of video surveillance market in South Africa.
IP video surveillance segment accounted for majority of the market revenue owing to major deployments in government and transportation vertical. However, in terms of volume, analog video surveillance systems accounted for majority of the volume share owing to low pricing and accessibility.
Weak economic conditions and currency depreciation have resulted in rise in selling price of video surveillance systems during 2010-15. Amongst all the verticals, government and transportation acquired largest revenue share of the market in the country. Over the next six years, commercial offices, healthcare, hospitality verticals are forecast to grow at relatively higher CAGR from 2016 to 2022.
Participating vendors include Avigilon Corporation, Axis Communications, Bosch Security, Hikvision, Hanwha Techwin, Honeywell, Panasonic, Pelco, Vivotek, Zhejiang Dahua Technology.
Research and Markets also announced addition of Nigeria Video Surveillance Market 2016 to 2022, report to their offerings. The Nigerian video surveillance market is projected to grow at CAGR of 5.3% during 2016 to 2022.
Nigeria has emerged as one of the key growing countries in Sub-Sahara region. Increasing investments, government initiatives and surging spending have improved the economic conditions of the country. However, the country is affected by increasing terrorist activities and crime rates. To check these, deployment of electronic security systems primarily video surveillance systems is witnessed especially in Lagos and Abuja.
In Nigeria’s video surveillance market, analog video surveillance systems have captured key share of the market. However, a shift towards IP video surveillance systems is anticipated through the forecast period.
Amongst all verticals, government and transportation vertical has generated majority of the market revenues. Industrial and manufacturing vertical is another key emerging vertical, and oil and gas sector is a leading contributing segment.
Participating vendors include Avigilon Corporation, Axis Communications, Bosch Security, HikVision, Hanwha Techwin, Pelco by Schneider Electric, Vivotek, ZTE.
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