Northbrook, IL 60062 -- (SBWire) -- 07/10/2023 --According to a research report "Japan Video Surveillance Market by Offering (Hardware (Camera, Storage Device, Monitor), Software (Video Analytics, VMS), Service (VSaaS)), System (IP, Analog, Hybrid), Vertical and Geography (North America, Europe, APAC, RoW) - Global Forecast to 2027", published by MarketsandMarkets, Japan Video Surveillance Industry to Grow at a CAGR 6.6% from 2022 to 2027
Higher deployment of advanced security systems across public infrastructure
The trend in Japan's video surveillance market is towards significant government investment in security systems, including wireless surveillance, in public infrastructure such as airports, city surveillance projects, metros, financial institutions, and hospitality businesses to ensure the safety of citizens. During the G7 summit in Japan During their meeting, the digital ministers are anticipated to deliberate on an AI strategy that is centered around human well-being.
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This may involve the employment of regulatory or non-regulatory policy instruments. Japan has also formulated and updated regulations concerning AI to ensure that its potential benefits to society are fully realized. According to industry statistics, the video surveillance industry in Japan has been witnessing growth due to increasing local government subsidies and other steps to increase the number of security cameras being deployed. Public tolerance toward video surveillance due to the sense of security it provides is expected to boost the market size and share in the country.
Moreover, the video surveillance market outlook is favorable owing to the range of government endeavors and partnerships between the public and private sectors. For instance, Accenture An agreement was signed between Mishima City and Oracle Japan in July 2021 to initiate various smart city projects, which are expected to leverage digital technology to resolve crucial social issues, benefiting local businesses and citizens. Japan has identified the necessity for reform to address regional problems and enhance its attractiveness to potential immigrants and tourists. To tackle this challenge, the Mishima Smart City Promotion Council was established in 2020 to encourage the utilization of data held by private organizations and local governments.
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Japan Video Surveillance Industry to Grow at a CAGR 6.6% from 2022 to 2027