Wireless Monitoring and Surveillance Market Leading Growth Drivers, Opportunities, Trends, Statistical Graph, Key Findings, Forecast, Demand and Trends | Impact of COVID-19

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.

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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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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