Market Share of Latin America Video Surveillance Industry
The Latin American video surveillance market is competitive due to several vendors' presence. The growing demand further attracts more vendors to the market, intensifying the competition. Vendors are adopting various strategies to strengthen their market presence further, including new product development, mergers, and acquisitions. Some key market players include Eagle Eye Networks, Honeywell Security Group, Teledyne FLIR, and Hikvision.
March 2024: Bitel, a major telecom company in Peru, invested USD 70,000 in a smart city project involving facial recognition in the District Municipality of Salaverry. According to the company, this surveillance initiative aims to integrate biometric technology into the existing urban infrastructure to improve residents' quality of life, streamline urban services, and reduce crime rates. Also, the company plans to deploy security cameras and smart devices throughout the district to monitor public spaces in real time.
January 2024: Hikvision, a leading provider of video surveillance systems, inaugurated a new office in Colombia. According to the company, the new facilities are located in Cali. The company aims to strengthen its presence in the country's southwest.
Latin America Video Surveillance Market Leaders
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Eagle Eye Networks
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Honeywell Security Group
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Teledyne Flir LLC
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Hangzhou Hikvision Digital Technology Company Limited
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BOSCH Security Systems
*Disclaimer: Major Players sorted in no particular order
