Video Surveillance Market Size and Share Analysis - Growth Trends and Forecast Report 2024-2032

Video Surveillance Market Trends & Summary

video surveillance market is expected to reach US$ 198.89 billion by 2032 up from US$ 69.80 billion in 2023 with a CAGR of 12.34% during 2024-2032. This has led to the growth of the industry since more and more establishments, including schools, airports, businesses and homes require security.

The report Video Surveillance Market & Forecast covers by Component (Hardware, Software and Services), System Type (Analog, IP, and Hybrid), Application (Public Facility, Commercial, Residential, Industrial, Military & Defense, Infrastructure), Region (North America, South America, Europe, Asia Pacific, Middle East & Africa), and Company 2024-2032.

Global Video Surveillance Market Outlooks

Video surveillance can be defined as the use of cameras in monitoring and keeping records of activities taking place within certain settings with the benefit of giving real time visuals and recording. It involves a variety of technologies such as; CCTV and IP cameras whereby the technologies could form a part of sophisticated security systems. Security and safety are the main goals of using video surveillance to prevent unlawful acts and monitor activities with a view of offering evidence in the course of an incident.

In the world, video surveillance is used in many fields and industries. In the cities it is applied in security matters, traffic control and suppression of riots among others. In retail, it has been important in curbing cases of theft while at the same time offering surveillance of the movement of activities at stores. Generally, for industries, security and protection is provided and tress passers are well prohibited through video surveillance. Moreover, it has a significant function in security particularly in the key facilities, for example airports, energy stations and transport systems. As technology progresses and new applications and developments are made, the growth of smart cities and AI and Analytics takes video surveillance even further with features such as facial recognition and real time threat analysis.

Growth Drivers in the Video Surveillance Market

Increasing Security Concerns

The need for improvement of security in different areas is one of the main aspects that significantly contributes to the growth of the video surveillance market. In recent years the rate of crime, terrorism, and vandalism has forced public and private entities to spend a lot of money in surveillance systems. Implementation of security measures is very imperative in areas that need protection such as business premises, city and infrastructural areas and other sensitive areas. This awareness of security threats leads organizations to implement superior video surveillance technologies such as high definition cameras and central monitoring systems to mitigate threats as well as prevent them. For instance, a world manufacturer of video surveillance systems, Infinova Company in April 2023 signed a large contract for supply video surveillance systems in over 60 Indian airports. This deal provides more than 6000 cameras aiming at important airport areas, these are; Versatile highspeed power tilt zoom dome cameras, vandal resistant mini dome cameras, and day and night fixed cameras. The cameras are expected to enhance efficiency at the airports by tracking the passenger and baggage which would reduce traffic jams and consequent hold up.

Technological Advancements

New technological breakthroughs are on the rise and the video surveillance market has been benefiting from the developments. Advancements including high definition, 4k and even IP systems and artificial intelligence (AI) are changing the face of video surveillance. They are conversant with real-time threat identification, biometric analysis, and behavior modulation, thus enhancing the efficiency of surveillance devices. Such improvements offer far better and valuable information, making the video surveillance to find application across various fields hence boosting the market. There are considerable advantages for 5G technology in video surveillance: the higher bandwidth and the lower latency for real-time stream of high definition video. 5G offers expansive connection features which help in crowd managing as well as traffic controlling.

Growth of Smart Cities

Smart city is a potential growth factor triggering the increase in the video surveillance market. Smart city strategies refer to the incorporation of innovative solutions in the management of urban life some of which are better security and proper traffic flow. This is where real-time video surveillance must play a central role since it delivers relevant information to build smart infrastructure and services. Integration of connected cameras and sensors is used to enhance resource utilization, quick response to events or emergencies and safety and security in cities making the cities demand for sophisticated surveillance systems. The Indian Ministry of Housing and Urban Affairs has sanctioned 5,151 projects amounting to ₹ 2,05,018 crore (USD 25 Billion) till 2023 for the Smart Cities Mission, many of which incorporate advanced surveillance systems.

Challenges in the Video Surveillance Market

Privacy and Data Security Issues

The increased adoption of video surveillance raises serious concerns regarding privacy and data security. Governments and regulatory bodies enforce strict compliance measures that help prevent misuse of surveillance data, but at the same time, they pose a challenge for companies in the management and storage of footage securely. Cybersecurity threats, such as hacking and unauthorized access, further complicate the market. Companies have to invest in advanced encryption and security protocols to maintain effective surveillance operations with compliance and public trust.

High Initial Investment and Maintenance Costs

Video surveillance systems require considerable equipment, installation, and maintenance capital. Features such as AI-driven analytics and cloud storage make the adoption challenging for small and medium enterprises. Ongoing maintenance, software updates, and storage expenses can become a burden. Manufacturers need to provide cost-effective solutions, flexible financing options, and scalable surveillance systems to fit the budgets of small and medium enterprises.

Video Surveillance Analog Market

Analog video surveillance systems are still relevant today because they are cheaper and easier to install. They use traditional coaxial cables to transmit video feeds to digital video recorders (DVRs) for storage and analysis. Although they lack advanced features such as AI analytics, they provide cost-effective solutions for small businesses, residential properties, and areas with basic surveillance needs. Hybrid solutions, which integrate analog and digital surveillance, are also continuously adopted in the market landscape to help prolong the relevance of analog systems. April 2024, Hikvision launched the Turbo HD 8.0, the latest generation of its analog security products, providing a more interactive and comprehensive visual security experience.

Video Surveillance Software Market

With developments in artificial intelligence, facial recognition, and cloud-based analytics, the video surveillance software market is expanding. It now provides real-time monitoring, automated alerts, and integration with IoT devices as part of software solutions. Increasingly, business and law enforcement agencies use intelligent surveillance software for better security and efficient investigation purposes. The requirement for video surveillance software continues to grow in strength and scalability due to improvements in AI-driven analytics that are increasing accuracy and efficiency.

Commercial Video Surveillance Market

The commercial sector is one of the biggest adopters of video surveillance systems for security and efficient operation. Retail stores, office buildings, and warehouses use surveillance solutions to cut theft, monitor the activities of their employees, and enhance the customer experience. AI analytics enable businesses to track customer behavior, optimize layouts of different shops, and even improve security measures. With the increasing number of smart cities and business automation, the commercial video surveillance market is expected to grow in the coming years. In Oct 2024, Eagle Eye Networks, the global leader in cloud video surveillance, announced Eagle Eye 911 Camera Sharing won the Security Today 2024 New Product of the Year Award in the Emergency Communications Systems category. 

Military & Defense Video Surveillance Market

National security and defense clearly rely on video surveillance, border protection, and intelligence gathering to implement their activities. All modern high-tech surveillance techniques such as drone-based monitoring, infrared cameras, and AI-powered threat detection are incorporated into defense operations. These increase situational awareness, enhance perimeter security, and aid in the fight against terrorism. Governments continue investing in high-tech surveillance infrastructure to combat evolving security threats and safeguard critical assets. The US Army also awarded Leonardo DRS a contract worth US$ 117 million in order to produce the FWS-I sights in September 2024. The FWS-I is an infrared weapon sight with rapid acquisition of a target for a user's day as well as night. The report by the Swedish Defence Commission also shows that in the year 2024, the government planned to table the development defense bill 2025–2030 before the Riksdag. This investment proposal shall involve investment in the development of military and defense sector equipment.

United States video surveillance market

The United States video surveillance market continues to boom owing to increased security threat and technological developments in the industry. New cases of crime and terrorism occurring mostly in the developed world leads to the patronage of advanced surveillance systems. High definition cameras, AI analytics and IP implemented systems have been developed to improve video surveillance. Both smart cities and infrastructures’ development also contribute to the increased demand for improved monitoring systems. There is still more growth in the market as organizations search for effective safety, security, operational tools. The U. S. Department of Homeland Security proposed for FY 2023 was USD 3.5 billion of the budgets for the Office of Science and Technology, whereby funding will be provided to initiatives in the development of security technologies such as video surveillance.

German video surveillance market

The video surveillance market of Germany is also growing because of increasing security concerns and emerging technologies. This involves the purchase of what the country deems as the best surveillance systems that can help to improve the security situation especially when dealing with the management of structures that make up cities. More advanced technologies such as high definition cameras, IP based systems and the integration of Artificial Intelligence in the analysis of video clips are being commonly used in order to enhance the level of monitoring as well as the detection of threats. In the same technique, other Anticipated factors include Germany’s emphasis on smart city development, which increases interest in central command monitoring systems. The market growth is driven by the necessity of the secure protocols and complex technologies in numerous industries. For example, in August of 2023, The German cabinet earmarked EUR 12.5 billion from the Climate and Transformation Fund (KTF) should be dedicated to rail as a climate-friendly means of transport according to the Federal Ministry for Digital Affairs and Transport (BMDV). It is observed that the use of video surveillance is gaining importance in improving the public safety, efficient traffic control and management of urban spaces, hence increases demand for the video surveillance systems, hardware, software and service providers.

China video surveillance market

China has a growing market for video surveillance, fueled by change in demography pegged on urbanization and concerning rise in insecurity. Through the implementation of latest technologies including high definition cameras, artificial intelligence in analyzing the collected data as well as incorporation of IO fleet, there has been an improvement in surveillance across the country. China’s pursuit for implementing smart city increases the demand for efficient security and monitoring method to deal with safety, traffic, and structures. Also, the government attention on security and surveillance technologies spending fosters market growth thereby making it as one of the leading markets in video surveillance market globally. The Chinese Ministry of Public Security’s statistics 2023, the potential of the market for video surveillance in China is USD 20. 8 billion by 2025 highlight the region’s future growth potential Other examples include the following: The region’s vibrant tourism, for instance, proved impressive by displaying growth potential of 8 Billion by 2025.

Brazil Video Surveillance Market

The Brazil video surveillance market is experiencing growth for reasons such as rising crime rates and increased public security investment. Government efforts to modernize security infrastructure and the private sector's use in retailing, transportation, and residential areas accelerate the market. Integration of AI-based analytics, cloud storage, and biometric recognition makes surveillance systems much more effective. However, economic factors and regulatory hurdles may impact the market penetration in some regions. Sept 2024, BIRDS has started operations in São Paulo, providing autonomous security systems that will be tailored to meet the security needs of large organizations across Brazil. BIRDS is a collaboration between three major companies: Speedbird Aero, a Brazilian UAS manufacturer and delivery service provider; High Lander Aviation, a global supplier of UAS fleet and traffic management software; and Cando Drones, with its rich expertise in UAS operations.

Saudi Arabia Video Surveillance Market

The video surveillance market in Saudi Arabia is growing at a rapid pace, mainly due to infrastructure development and smart city initiatives. The government is focusing on the improvement of security at critical airports, mosques, and business centers, which is increasing demand. AI-based surveillance, facial recognition, and real-time monitoring are becoming standard features. With the upcoming large-scale events such as Expo 2030, the demand for advanced surveillance systems will increase manifold across all sectors. In Sept 2024, Eagle Eye Networks announced the opening of a new data center in Riyadh, Saudi Arabia.

Video Surveillance Company News

In June 2023, Becklar, LLC, a safety solutions provider, acquired Eyeforce Inc., a provider of monitored remote guarding solutions. The acquisition aims to enhance Becklar LLC's offerings by providing a more comprehensive array of connected safety solutions in North America.

In March 2024, Axis Communications announced the launch of its new AI-powered video analytics platform, designed to enhance threat detection and incident response capabilities in urban environments.

In January 2024, Hikvision unveiled its next-generation cloud-based video management system. It offers advanced AI analytics and seamless integration with existing security infrastructure for enterprise and government clients.

Video Surveillance Market Segments

Component – Market has been covered from 3 viewpoints:

1. Hardware
2. Software
3. Services

System Type – Market has been covered from 3 viewpoints:

1. Analog
2. IP -Surveillance
3. Hybrid

Applications - Market has been covered from 6 viewpoints:

1. Public Facility
2. Commercial
3. Military & Defense
4. Residential
5. Industrial
6. Others

Country - Market has been covered from 25 viewpoints:

North America

1. United States
2. Canada

Europe      

1. France
2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. Netherland
8. Turkey

Asia Pacific  

1. China
2. Japan
3. India
4. Australia
5. South Korea
6. Thailand
7. Malaysia
8. Indonesia
9. New Zealand

Latin America

1. Brazil
2. Mexico
3. Argentina

Middle East & Africa

1. South Africa
2. Saudi Arabia
3. UAE

Company Insights:

• Overview
• Key Persons
• Recent Development & Strategies
• Revenue Analysis

Companies Covered:

1. Honeywell International Inc.
2. Hangzhou Hikvision Digital Technology Co., Ltd
3. Bosch
4. Schneider Electric SE
5. Panasonic Holdings Corporation
6. Cisco Systems Inc
7. TKH GROUP N.V.
8. Motorola Solutions, Inc.

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