Night Vision Surveillance Camera Market Trends

Growth Drivers

• Rising Government Support through Various Schemes and Investments – Modern technology enables night vision surveillance cameras to be incorporated inside drones. Moreover, the increasing use of drones for security purposes is anticipated to increase the market demand for night vision surveillance cameras. According to the data, in September 2021, the Indian government allocated a production-linked incentive (PLI) scheme worth USD 3 billion for the drone and auto industry.

• Increased Research & Development Expenditure – As per data by the World Bank, global research and development expenditure in proportion to gross domestic product (GDP) was around 2.63% in 2020, up from 2.2% in 2018.

• Rising Number of Stadiums Globally – According to data published in 2020, there were about 5,500 stadiums around the world and Brazil has the second highest number of stadiums, i.e., around 880.

• Benefits of Night Vision Surveillance Cameras in Homes and Offices – According to recent statistics, if a surveillance camera is installed in a home, the chances of theft are reduced by 250%.

• Rising Heavy Investment in Infrastructures – According to the data, in the next five years, the Indian government is planning to spend USD 1.3 trillion on infrastructure through the National Infrastructure Pipeline.

Challenges

High Cost of Night Vision Surveillance Cameras – The first and foremost obstacle or challenge that comes in the way of this market is the high cost of night vision surveillance cameras. The camera is not cost-friendly and not everyone can afford it. The utilization of unique materials and expensive third-generation technologies increases the price of night vision surveillance cameras.

• Insufficient Data Storage Capacity
• Less Awareness about the Benefits of Night Vision Surveillance Cameras in the Market