Video Surveillance Market

Global Video Surveillance Market Size (2024 to 2029)

The global video surveillance market size is predicted to reach USD 52.90 billion in 2024 and USD 106.40 billion by 2029, growing at a CAGR of 15% during the forecast period.

Current Scenario of the Global Video Surveillance Market

Video surveillance systems are gaining huge popularity in today's world. These systems can also be referred to as CCTV, which helps to record or monitor the specific area for security and safety purposes. The camera provides live footage options where one can monitor the footage in real-time or watch the record for reviews.  Video surveillance systems usually do not need fixed wired installation and can work on batteries, solar panels, or power over ethernet, unlike CCTV. Users can operate these systems without any worry from anywhere. In the present scenario, video surveillance is very important for security purposes, especially in those areas where crime cases are increasing.  In the U.S., video surveillance systems helped identify criminals by providing critical evidence through the footage that was recorded earlier. Studies do find that video surveillance systems can help reduce crime cases by about 50% or more in an effective way. These systems, when installed in public hotspots, can help in enhancing security. Identification of improper behavioral changes through footage will help the authorities take necessary steps during the real-time monitoring of the footage in public places. Emerging countries like India have been taking proper measures to install video surveillance systems at every nook and corner. It is estimated that only in India there are around 2 million systems installed in 2023 for safety and security purposes. 

MARKET DRIVERS

The increasing prominence of the installation of cameras at public hotspots to provide safety to the public, especially women, is driving the growth rate of the video surveillance market.

Penetration of technology technologies like artificial intelligence is additionally to leverage the market’s share. The integration of artificial intelligence with video surveillance systems has made difficult tasks easy, and the capability of the systems is changing accordingly. Machine learning and artificial intelligence are evolving the capabilities of the systems and adding much more value to the analysis.  These systems embedded with the A.I. promote a hustle-free and promising environment over security. The systems are completely automated and can signal cases of anomalies where the person can take necessary actions further to avoid any further risks associated with these changes. These systems are gaining huge popularity when compared with traditional cameras. A.I. integration ruled out the challenges like efforts of human operators to monitor and send signals that may linked up with the errors and time constraints. Therefore, the launch of video surveillance systems with the most advanced features is lavishing the market’s share. 

Government support for increasing surveillance, especially in high-risk areas, is ascribed to the rising growth rate of the market.

Continuous monitoring in high-risk areas is very important to take immediate attention when there is a case of mishap. These activities, in real-time, will enhance the safety of the people in various ways. In recent years, the demand to install video surveillance systems, especially in metropolitan cities, has drastically increased both in residential and commercial buildings. Security management professionals and law enforcement mostly rely on advanced video surveillance systems to enhance operation activities. 

Nowadays, smart homes and smart cities are uniquely providing various features that offer high-security solutions. People in urban areas, especially in smart home residential areas, prefer high-security systems where key companies are planning to install the systems according to their preferences, which boosts the growth rate of the market. These systems bring in the evidence and directly curb the number of crimes in smart cities with the impact of continuous monitoring through video surveillance. This factor greatly fuels the growth rate of the video surveillance market. 

MARKET RESTRAINTS

However, rising concern towards privacy is the major factor that is hindering the growth rate of the video surveillance market.

Many people have concerns over their privacy due to the installation of the cameras, but taking measures while installing these monitoring devices in proper places will create positive results. Other than this, with technological advancements in every sector, hacking is also becoming very easy, where protecting data from the breachers is a great deal for key market players. Therefore, huge privacy concerns over the safety of personal data are solely degrading the market share. In addition, the growing incidences of poor image quality due to various technical issues during real-time surveillance are also hampering the growth rate of the market. 

OPPORTUNITIES

The launch of innovative features in video surveillance, such as facial recognition, contactless access control, and others, is likely to create potential growth opportunities for the video surveillance market in the foreseen years.

Growing investment in video surveillance systems for various aspects among government and non-government organizations is also meant to elevate the growth rate of the market. The trend to meet the untapped potential needs is especially likely to expand the market’s size. The rising number of thefts and criminal cases will also create scope for the video surveillance market in the coming years. For instance, in China, around 1.2 million theft crimes were recorded only in 2022, where the necessity to increase surveillance in public places to combat these statistics is greatly influencing government organizations to install monitoring systems. Ongoing research and development activities will add excellent features for video surveillance systems that make it easier to monitor complex environments and detect potential threats in three dimensions. Smart cameras will add fuel to the growth rate of the video surveillance market in the future period. 

CHALLENGES

The lack of proper knowledge in storing data is a great challenge for video surveillance market growth. There is a high chance of data loss if any real-time issue arises. Storing the data is a big challenge for the operators, as the data or the recordings might easily be lost if not secured properly. Therefore, the difficulty in recruiting highly professional people is slowly declining the growth rate of the video surveillance market. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Video Surveillance Market Analysis By Type

IP-based video surveillance market size has been leading for the past few years and shall continue the same flow during the foreseen years. These systems only require the local network to record or monitor the video. The internet protocol camera can receive or send video footage via an I.P. network, which overcomes the challenges faced with the traditional methods. The analogue segment is expected to have a significant growth rate throughout the forecast period. This type of video surveillance is more flexible in remote areas where the internet connectivity is very low. These systems are easy to install and run easily by sending analog data to a digital video recorder. 

Global Video Surveillance Market Analysis By Component

Camera’s segment is gaining huge traction over the market share. The camera is a major component in video surveillance that detects and prevents burglaries. Also, video footage is of huge importance in criminal cases, prompting the share of the video surveillance market. The equipment segment is likely to have a huge growth rate in the coming years, whereas screen equipment is set to have steady growth opportunities throughout the forecast period. 

Global Video Surveillance Market Analysis By End-User

Government segment share has been growing at a faster rate in the past couple of years. Focus on improving security and reducing the potential threats from various regions to enhance the growth rate of the market. The healthcare segment is next in leading the largest share of the market. The growing number of hospitals and increasing prominence to improve the infrastructure for better outcomes in healthcare substantially level up the growth rate of the market. The rising number of residential buildings with smart home infrastructure is set to elevate the size of the residential video surveillance market in the coming years. 

REGIONAL ANALYSIS 

Asia Pacific region is leading with the largest share of the video surveillance market. China and India are the major countries contributing the largest share of the market. China is the first country to install a huge number of surveillance systems in every corner of the hotspots. The launch of innovative technical developments with the presence of the topmost companies is attributed to leveraging the growth rate of the market. Also, increasing incidences of thefts, criminal cases, and others are augmented by installing video surveillance everywhere to curb the number. People in urban areas are inclined to adopt video surveillance, especially in smart homes, which accounts for gearing up the growth rate of the market.
Following Asia Pacific, North America's video surveillance market share is dominating the growth rate owing to increasing per capita income. High investments from government officials are a prominent factor in the market growth in this region. The advancements in technology and the adoption of the cloud-based deployment mode that has high storage capacity and reduces the risk of data loss are merely to outrage the market’s growth rate.
European countries step forward in adopting the most advanced technology in promoting the public safety and security. In military forces, the demand for the video surveillance is growing at higher rate which is substantially inclined to accelerate the growth rate of the video surveillance market.
Increasing incidences of the thefts and vandalism in remote areas in Latin America and Middle East & Africa regions is rising the importance for the continuous monitoring in the public areas that is likely to showcase the positive growth opportunities for the market.

KEY PLAYERS IN THE GLOBAL VIDEO SURVEILLANCE MARKET

Some of the notable companies operating in the global ophthalmic lasers market profiled in this report are Ellex Medical Lasers Limited (Australia), Topcon Corporation (Japan), Ziemer Ophthalmic Systems AG (Switzerland), IRIDEX Corporation (U.S.), NIDEK Co., Ltd. (Japan), Alcon Laboratories, Inc. (U.S.), Abbott Medical Optics, Inc. (U.S.), Carl Zeiss Meditec AG (Germany), Bausch & Lomb Incorporated (U.S.), Lumenis Ltd. (Israel).

RECENT DEVELOPMENTSIN THE GLOBAL VIDEO SURVEILLANCE MARKET

• In July of 2019, Bosch partnered with Drone Shield Ltd, a supplier of security and safety solutions. Through this collaboration, Drone Shield is likely to offer an integrated drone detection and avoidance program, with Drone Shield's solutions combined with Bosch's video surveillance devices.

• In January 2018, the US government installed 250 surveillance cameras in New Orleans (US) for the carnival season to control crime. The New York Police Department installed hundreds of additional surveillance cameras on highways and other public places to reduce traffic violations and violence.

• BS/2, a Lithuanian banking technology company, and Vision Labs announced a strategic contactless recognition alliance to help companies significantly increase safety and avoid risks associated with illegal or unauthorized activities while running self-service terminals, making ATM eye. iQ is a full-scale, self-service video monitoring and fraud prevention program.

DETAILED SEGMENTATION OF THE GLOBAL VIDEO SURVEILLANCE MARKET INCLUDED IN THIS REPORT

This research report on the global video surveillance market has been segmented and sub-segmented based on the type, component, End-user, and region.

By Type

• Introduction           

• Analogue 

• IP-based  

• Others      

By Component

• Equipment

• Comprising Recorders

• Encoders

• Screens

• Cameras

By End-User

• Corporate

• Residential

• Transportation

• Retail

• Hospitality

• Government

• Industrial

• Healthcare

By Region

• North America

• Europe

• Asia Pacific (APAC)

• Latin America & Middle East Africa