According to our latest analysis, the global video surveillance market size is expected to reach 84.21 billion USD by 2026, increasing from 40 billion USD in 2020, and is expected to grow at a CAGR of 15%. The growth of the market can be attributed to the increasing concerns about public security.
Monitoring has become essential with increasing crime and terrorist activities around the world, which 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.
Growth Drivers
Major Challenges
The security cameras is used for a variety of reasons, such as fraud prevention and overall security. Nevertheless, it is often seen as a violation of privacy and is protested by several civil rights organizations and activists. There have been concerns about who watches the video and how the video might be used or misused because people expect their personal information to be used solely for legitimate and specific purposes.
REPORT METRIC |
DETAILS |
Market Size Available |
2020-2026 |
Base Year |
2020 |
Forecast Period |
2022 - 2027 |
Segments Covered |
By Type, Component, End-user & Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Zhejiang Dehua Technology Co. Ltd, Honeywell Security Group, Cisco Systems Inc, Pelco Inc, Genetec Inc, Geovision, Panasonic System Networks Co. Ltd, Bosch Security Systems Inc, Canon Inc, Agent Video Intelligence, Axis Communications AB, HikVision Digital Technology Co. Ltd |
MARKET SEGMENTATION
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.
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, residential and commercial real estate projects are expected to adopt VSaaS services in conjunction with the banking sector. Decreasing IT costs, need for centralized data & application management and technological advancement in high-resolution video and imaging analytics are expected to drive video surveillance business.
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 see an upsurge in this region due to increased security concerns in countries like India and China.
Some of the Dominating Key Players Profiled in the Research Report of Video Surveillance Market are:
Recent Developments:
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