3D Surveillance Software Market Size Projected to Generate Revenue of $211.5 Mn by 2031Download Sample Reports Overview
The Global 3D Surveillance Software Market Size is predicted to be valued at $211.5 million by 2031, surging from $110.6 million in 2021, at a CAGR of 7.0%.
Impact Analysis of COVID-19 on the 3D Surveillance Software Market
The COVID-19 pandemic posed a negative impact on various industries such as hospitality, manufacturing, automotive, and others. However, the 3D surveillance software market share has experienced a positive impact owing to its applications across utilities & communication, energy & power generation, transportation, and other sectors. 3D surveillance software is an emerging technology that uses visualization software to address security challenges by efficiently maintaining a track of alarms, assets, devices, and others in real-time. For instance, the demand for security & surveillance for buildings increased owing to the closure and shutdown of business activities during the COVID-19 pandemic. This is majorly owing to the increase in demand for safeguarding access and operations of buildings to detect unwanted intrusions. In addition, in the residential sector, the demand for 3D surveillance has increased rapidly as it helps in monitoring private homes and residential areas. These factors have led to a positive impact on the 3D surveillance software industry during the pandemic.
Global 3D Surveillance Software Market Analysis
Surveillance and security are important aspects of various industries including government, automotive, real estate, entertainment, and others. The need for securing important utilities & communication infrastructure has boosted the 3D surveillance software market growth. Communication systems are the backbone of information exchange, and they are essential for protecting critical communication infrastructure from cyberattacks or physical access to a building. The use of 3D surveillance software helps in detecting intruders to detect accurate positions, directions, and movement. The 3D surveillance software market size is estimated to grow rapidly in the upcoming years as this system can monitor air zones and help in protecting critical infrastructure from attacks by drones. This system implements assistive AI and edge computing to detect physical changes in space. Also, this software can identify threats and non-threats to notify security personnel automatically. All these aspects are anticipated to drive the 3D surveillance software market growth during the forecast period.
The 3D surveillance software is still in its developmental stage and major companies operating in the market are actively working to improve the system. Lack of awareness and less adoption of this technology at present is anticipated to restrain the 3D surveillance software market size in the upcoming years.
The growing applications of 3D surveillance software in the transportation sector are anticipated to generate excellent growth opportunities in the market. For instance, the growing application of 3D surveillance software across roads, airports, ports, and railway stations is estimated to boost the 3D surveillance software market demand. This software technology is being widely used in civil aviation, rail & transit, ports& canals, roads & highways, and other sectors. For instance, 3D surveillance software is used in civil aviation to boost security & surveillance at airports. This software can address security concerns at the airports by providing safety to airports, runways, hangars, and tarmacs to detect potential threats, suspicious objects, theft, or intruders. In the rail & transit industry, 3D surveillance software enhances safety at railway stations and reduces rail-related traffic accidents. 3D surveillance software uses video cameras, LiDAR, thermal imaging, edge computing, and artificial intelligence to detect physical changes in space. These aspects are estimated to boost the 3D surveillance software market share during the forecast period.
Global 3D Surveillance Software Market, Segmentation
The global 3D surveillance software market is segmented on the basis of application, deployment, and region.
The application segment is further classified into commercial, industrial, and residential. Among these, the industrial segment accounted for the highest market share in 2021 and is estimated to witness the fastest growth during the forecast period. This is majorly owing to growing applications of the 3D surveillance software across oil & gas, defense, buildings, real estate, government, arts & culture, entertainment, energy & power generation, and other sectors. For instance, in the automotive sector, the 3D surveillance software solution can be used to set up security zones around machinery and when the workers cross the zone an alarm will get triggered to alert a danger. Similarly, in the real estate sector, the 3D surveillance software market can protect homes, families, and businesses from undetected intrusions and dangers such as vandalism and theft.
The deployment segment is further classified into on-premise and cloud based. Among these, the cloud based segment accounted for the highest market size in 2021 and is projected to show the fastest growth during the forecast period. This is because the cloud based 3D surveillance software provides improved collaboration with ease of data sharing & editing options. Also, the cloud based 3D surveillance software enhances data security with encryption standards using role-based access control, single sign-on, and others. The cloud based software offers greater flexibility than local applications with the help of automatic software updates. These factors are anticipated to have a positive impact on the 3D surveillance software market trend in the upcoming years.
The 3D surveillance software market in Asia-Pacific is anticipated to witness the fastest growth during the forecast period. This is majorly owing to rapid advancements in the transportation, construction, retail, and automotive sectors. For instance, the development of smart cities, mega airports, and growth in the commercial building sector in countries namely China, India, South Korea, and others have generated the demand for security and surveillance. For instance, 3D surveillance software plays a major role in safeguarding highways and roads with 3D surveillance. This is because 3D surveillance software can be used for protecting the equipment at highway construction projects and can also help in preventing and investigating traffic violations.
Key Players in the Global 3D Surveillance Software Market
Some of the leading 3D surveillance software market players are
- Surveill 3D
- Cambridge Pixel Ltd
- Tacticware Resource Group LLC
- Dallmeier Electronic GmbH & Co. KG
- Northern Digital Inc
- Noitom Ltd
- Vicon Motion Systems Ltd
In July 2022, Edge360 announced the launch of its new Video Management Software (VMS), Surveill VMS, which is the first fully containerized VMS running on microservices. A fully containerized VMS is equipped with databases, frameworks, and remote capabilities.