Transparency Market Research: Video Surveillance Market’s Value to Reach $48B by 2020

SurveillanceCamsTransparency Market Research has published a report that says the worldwide video surveillance systems and services market hit almost $15 billion in value two years ago.

The market’s value is forecast to reach $48.32 billion by the end of 2020 at an 18.1 percent compound annual growth rate, Transparency Market Research said Thursday.

The research company noted that video surveillance and video surveillance-as-a-service platforms are designed for government residential, transportation, infrastructure, educational, healthcare and industrial use.

Industry players include Cisco Systems, Honeywell International, Axis Communications, Bosch Security Systems, Genetec, Sony and Panasonic.

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