Turkey’s Video Surveillance Market Citing Increased Adoption of IP/ Network Video Surveillance Systems over Analog Video Surveillance Systems – 6Wresearch
03 September 2015
Over the last four years, Turkey exhibited augmented growth in construction market with the effect from increased foreign investments, resulting into rise in various public and private infrastructures. The rise of these infrastructures have surged security concerns throughout Turkey, which created the demand for various security systems such as video surveillance systems. Amongst all Middle-Eastern countries, Turkey accounted for largest market share in both revenue as well as volume terms and is one of the leading countries to adopt IP technology based video surveillance systems.
According to 6Wresearch, Turkey’s video surveillance market is forecast to record nearly $759 million by 2021. Turkey posted an increase in construction activities from last year and recorded 5% year-over-year growth in construction market. During this period, Turkey also reported an increase in terrorist activities and other security threats, causing an escalation in deployment of video surveillance systems.
According to “Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch,” Shift from analog to IP video surveillance systems – a key trend being exhibited in Turkey’s video surveillance market; further crafting substantial market opportunity in Small Medium Enterprises (SMEs).
“In addition to growing trend of IP technology based video surveillance systems, Turkey is also witnessing increasing penetration of Pan-Tilt-Zoom (PTZ) HD surveillance cameras and are increasingly being deployed at major public and more secured areas.” Samuel further added.
According to Akash Shukla, Research Associate, Research and Consulting, 6Wresearch, Video Management and Video Analytics Software would cite growth due to upcoming smart city projects in Elazig, Aradhan, Kirsehir and Istanbul.
Further, despite weakening demand for analog video surveillance systems, hybrid digital video recorders (HDVR) are getting deployed in SME along with analog cameras to utilize IP surveillance systems features.” Akash concluded.
The major companies in Turkey’s video surveillance market include- Axis Communications, Bosch Security Systems, Honeywell, LG, Mobotix, Panasonic, Pelco by Schneider Electric, S2 Security, Samsung Techwin, and Sony.
“Turkey’s Video Surveillance Market (2015-2021)” provides in-depth analysis with 81 figures and 28 tables covered in more than 130 pages. The report estimates and forecast overall Turkey’s video surveillance market by revenue, by types & components of video surveillance systems and verticals such as banking & financial, government & transportation, commercial offices, retail & logistics, industrial & manufacturing, residential, hospitality & healthcare and educational institutions. The report also gives the insights on competitive landscape, market share by companies, companies benchmarking, company profiles, market drivers and restraints.