5G network will bring new opportunities for security surveillance industry. 5G enhanced mobile broadband capabilities support the bandwidth requirements of high resolution 4K and 8K video cameras in urban areas while delivering low latency, jitter-free and real time video feeds.
5G will play an important role in connecting massive public-space and city-wide networks of CCTV cameras making HD video feeds that can be used for situational awareness and to drive insights.
COVID-19 pandemic has drastically affected various sectors around the world. Organizations have adopted remote work policy for employee safety and due to this there is shift in the network usage from office premises to personal premise.
There is also increase in internet traffic as people are working from home, companies are moving towards digitalization by adopting cloud technologies and adoption of collaboration tools is also increasing. Due to impact on global economy government may defer the spectrum auction so the 5G capex spend will impact in 2020 and is expected to rebound in 2021.
According to estimates there would 3.5% decline in revenue of communication service providers due to the fact that enterprise mobile and fixed services have witnesses big decline due to the pandemic. 5G rollout will be delayed due to shortage of components supply.
Security is important aspect while talking of smart cities. At the initial planning stage of smart cities projects, security solution experts need to be involved for ensuring that security aspects are not overlooked but are built into framework. Due to technological advancement, players are introducing innovative solution that meet the need for smart cities.
Since, smart cities consist of buildings that are specifically designed for accommodating advanced technology, planning will be important for addressing security and safety needs of the residents.
Fire alarms & protection, video surveillance, intrusion alarm, access control, and emergency evacuation systems are some of the important components, which the concerned agencies need to plan properly for effective and efficient monitoring.
Globally, North America and Europe dominated the 5G-Enhanced Surveillance market in terms of revenue in 2019, owing to presence of key players and increasing government investments for increasing safety levels in public places.
South Asia & Pacific region is likely to grow with a higher CAGR owing to increasing investments by government for smart cities. Moreover, rising awareness regarding safety and security across various sectors is also driving the market growth in the region.
The key players in the 5G-Enhanced Surveillance market
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global 5G-Enhanced Surveillance market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with 5G-Enhanced Surveillance market attractiveness as per segments. The report on 5G-Enhanced Surveillance market also maps the qualitative impact of various factors on 5G-Enhanced Surveillance market segments and geographies.
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