According to a new market research report published by Credence Research “Distribution Automation Market(Type – Analog, and Network) - Growth, Future Prospects, Competitive Analysis and Forecast 2016 - 2024”, the global Distribution Automation market stood at US$ 270.8 Mn in 2015 and is estimated to expand with a CAGR of 21.1% from 2016 to 2024.
Market Insights
The global Distribution Automation market has been primarily driven by increasing adoption of video surveillance systems and services across the world. With rising security threats and increasing instances of crime and terror attacks, there has been a growing need for public safety and protection.
The complete report is available at http://www.credenceresearch.com/report/distribution-automation-market
It has become imperative for various government bodies and businesses to deploy Distribution Automation within the premises and around the perimeter to ensure law enforcement and public protection. Other factors such as technological advancements in cameras and rising applications in video analytics have opened up new avenues in the overall Distribution Automation market across the world. End-use industries including retail, hospitability, and entertainment have been adopting Distribution Automation with features such as facial recognition, behavior analysis, and event prediction. Moreover, declining cost of network or IP-based cameras has further fuelled the growth of the Distribution Automation market across the world. In addition, technological advancements in thermal cameras, motion detection cameras, and day/night cameras have led to its increasing adoption in various high-end sectors in the developed market such as the U.S., UK, Germany, France, Japan, South Korea and China, among others.
Some of the factors restraining the growth of Distribution Automation market included lack of technological awareness among consumers and high initial costs. Despite declining costs of network cameras, customers in most of the developing countries are yet to adopt security camera solutions in their premises. In addition, lack of technological awareness among consumers has led to limited popularity of Distribution Automation among various business owners in the emerging markets. However, with the rise of cheaper cameras and growing adoption of video surveillance as a service (VSaaS), the overall Distribution Automation market is expected to witness a strong demand from these service providers. Thereby, the overall Distribution Automation market is expected to witness strong growth across the world during the forecast period.
Competitive Insights:
The overall Distribution Automation market is highly consolidated with the presence of numerous well established players operating all across the world. With limited innovations in the camera products, the market participants in the Distribution Automation market have been experiencing intense price-based competition. Furthermore, rise of camera manufacturers in China providing cheaper products has further led to the strain on numerous global camera manufacturers. Leading companies in the Distribution Automation market have been engaged in design and development of advanced cameras with enhanced features and capabilities. Camera providers have been working closely with various sensors and video analytics providers to offer better products and increase their market share in the developed markets. Thereby, the market is expected to witness a rise in innovative applications which would further fuel the adoption of high-end Distribution Automation across the world.
Key Trends:
• Shift from analog cameras to network or IP-based cameras
• Increasing affordability of network or IP-based cameras due to declining prices and rise of cheaper cameras
• Increasing incorporation of various sensors and analytics in the Distribution Automation to offer effective applications for end-users
• Increasing use of advanced cameras including thermal cameras, multi-megapixel cameras, super low-light cameras, and panoramic cameras, among others
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