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

Monitoring has become essential with increasing crime and terrorist activities around the world. This results in remote surveillance using electronic equipment such as closed-circuit television (CCTV) or interception of electronically transmitted data, such as Internet traffic. It may also involve simple technical approaches, such as human intelligence gathering and postal interception.

MARKET DRIVERS

The security camera system monitors and records people's behavior and activities. These systems are being rapidly deployed in airports, schools, office buildings, public places, etc. Governments in different countries have been mandated to implement surveillance systems to protect public places and critical infrastructure due to an increasing focus on security issues. This is a significant driver of the Market.

Video Surveillance-as-a-Service is a web-based service that allows users to remotely store, track, capture, play, and monitor surveillance footage directly on cloud or secure servers. The benefits of such functions include cost-effectiveness, easy access to data, secure data storage, and high reliability, among many others. This is another significant driver of the global market.

MARKET RESTRAINTS

Security cameras are used for various reasons, such as fraud prevention and overall security. Nevertheless, they are often seen as a violation of privacy and are protested by several civil rights organizations and activists. There have been concerns about who watches the video and how it might be used or misused because people expect their personal information to be used solely for legitimate and specific purposes.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Video Surveillance Market Analysis By Component

Based on the Component, the demand for surveillance cameras is expected to experience high growth, which can be due to increasing sales of IP cameras with built-in recorders.  The Services Sub-Segment comprises mixed, controlled, and hosted services. Technological innovation, such as increasing the storage capacity of petabytes (PBs) and reducing the cost of processing surveillance data, is expected to drive demand for the Video Surveillance Market.

Global Video Surveillance Market Analysis By End-User

Based on the End-Use, Retail, and transport are projected to be the largest markets in the forecast period. This is primarily due to the increasing demand for cloud services and growing awareness of the management of applications for video surveillance. Home offices and residential and commercial real estate projects are expected to adopt VSaaS services in conjunction with the banking sector. Decreasing IT costs, the need for centralized data & application management, and technological advancement in high-resolution video and imaging analytics are expected to drive the video surveillance business.

REGIONAL ANALYSIS 

Based on the Region, the use of security cameras is expected to increase in APAC countries, as these are emerging economies with an increasing number of manufacturing bases, and terrorist attacks are a strong possibility. In addition, the demand for video surveillance is projected to increase in this region due to increased security concerns in countries like India and China.

KEY PLAYERS IN THE GLOBAL VIDEO SURVEILLANCE MARKET

1. Zhejiang Dehua Technology Co. Ltd

2.  Honeywell Security Group

3. Cisco Systems Inc

4.  Pelco Inc

5.  Genetec Inc

6.  Geovision

7. Panasonic System Networks Co. Ltd

8.  Bosch Security Systems Inc

9. Canon Inc

10.  Agent Video Intelligence

11.  Axis Communications AB

12. HikVision Digital Technology Co. Ltd

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