Albany, NY -- (SBWIRE) -- 01/11/2019 -- The global night vision surveillance cameras market has paced up in recent times due to a variety of social and technological uses of these cameras. Since the product offered by the market is a specialty product which aids across specific domains, the innovational excellence of players is an integral factor that decides the success of the market players. The large firms that are operational in the market are banking on their ability to provide customized solutions for a range of end-users in order gain supremacy in the market. Since the consumer demand is on a rise, it is important for players to fit into the specific needs of the consumers to capture a sustainable market share. The most well-established players in the market include Pelco Corporation, GmBH, Axis Communications AB, Robert Bosch, L-3 Communications Holdings, and BAE System Plc.
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The demand for night vision surveillance cameras is expected to grow at an exponential rate to say the least. Transparency Market Research's report prophesizes the market to reach a stupendous value of US$175.8 mn by 2024 as against a market value of US$22.8 mn in 2015, registering a phenomenal CAGR of 26.5% over the forecast period of 2016 to 2024. In terms of end use, the public sector and the defense segment is anticipated to be the most extensive consumer of night vision surveillance cameras. On a geographical footing, North America is projected to surge forward with a CAGR of 27% over the forecast period. Other segments for the market include Latin America, Europe, Asia Pacific, and the Middle East and Africa.
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