Video Surveillance Market Report Global Forecast by Component, System Type, Application, Region, and Company 2024-2032

Global Video Surveillance Market Size

The Global Video Surveillance Market will reach US$ 198.89 billion by 2032, up from US$ 69.80 billion in 2023, with a CAGR of 12.34% between 2024 and 2032. Growing usage of IoT devices, security concerns, and technological breakthroughs like AI and cloud storage are driving the worldwide video surveillance industry. More smart city projects and stricter regulations increase demand even more. Surveillance systems are critical for both public safety and corporate operations, but their cost has increased due to the requirement for remote monitoring during the epidemic and the growth of e-commerce.

Global Video Surveillance Market Outlooks

The use of video cameras to keep an eye on and document activity in a variety of settings, including public areas, commercial buildings, and private residences, is known as video surveillance. With this technology, cameras are positioned strategically to record video that may be watched instantly or saved for later analysis. Not only can video surveillance systems be connected with other security features like access controls and, but they also frequently come with cameras, recorders, and monitors. The main goals of video surveillance are to increase security, discourage criminal conduct, and supply proof in the event of an occurrence. Modern systems have advanced analytics like motion detection and facial recognition, high-definition cameras, and remote access capabilities thanks to technological improvements.

Strong expansion in the global banking, financial services, and insurance (BFSI) sector is fostering a favorable environment for the market. Due to the rising number of thefts, strange ATM withdrawals, and fraudulent transactions, video surveillance systems are becoming increasingly common. In addition, the growing demand for these items in the retail sector-which is being fueled by an increase in larceny and break-ins-is positively influencing market expansion.

Growth Drivers in the Video Surveillance Market

Booming insurance, banking, and financial services (BFSI) sector

A vital component of the world economy, the banking, financial services, insurance, and other industries make up the BFSI sector. Security is of utmost importance in this industry because it deals with large volumes of financial transactions and sensitive client data. In many respects, video surveillance systems are essential to guaranteeing the security and safety of these establishments. Additionally, high-quality video footage can be recorded by video surveillance systems, which can help with investigations into unauthorized access, fraudulent transactions, and suspicious activity. Both regulatory compliance and the prevention of fraud depend on this competence. Furthermore, the BFSI industry places a high priority on protecting the safety of both workers and clients. In addition to helping to keep an eye on common areas, entrances, and exits, surveillance systems also offer real-time information into any emergencies or security risks.

Combining AI, IoT, and deep learning

Advanced technologies such as deep learning, IoT, and AI have been integrated into video surveillance systems, transforming them into effective instruments for data analytics and security. Video analytics with autonomous object, behavior, and anomaly detection and classification is made possible by deep learning algorithms. With the ability to identify faces, cars, and license plates, AI-driven video surveillance systems can provide timely warnings and insightful data for improving corporate operations and security. Additionally, video surveillance systems may seamlessly integrate a variety of devices and sensors thanks to the Internet of Things. By adding new data sources, including access control systems or environmental sensors, that can initiate actions based on pre-established rules, this integration improves situational awareness. Moreover, companies in the retail and BFSI sectors can gain useful insights from video footage with the aid of AI-powered analytics. Predictive analytics can enhance operational efficiency, optimize retail layouts, and foresee security issues.

Growing consumer demand for goods in the retail industry

Video surveillance systems are used by the retail industry to meet a range of operational and security requirements. Employee theft, shrinkage of goods, and shoplifting are losses that retailers must deal with. By keeping an eye on store activities, discouraging theft, and offering proof in the event of an occurrence, video surveillance systems serve as a proactive tool. In addition, it is crucial to guarantee the security of customers. Video cameras are useful for monitoring and handling conflicts, emergencies, and accidents that occur on the store's property. Additionally, surveillance footage is used by shops for operational tasks like staff performance evaluation, store layout optimization, and foot traffic tracking. The market is expanding due to the need for video surveillance systems with features like analytics for customer behavior analysis and facial recognition for identifying known shoplifters, which are driven by the retail industry's continuous growth and the desire to provide a secure and pleasant shopping environment.

Asia Pacific Video Surveillance Market

A sizable share of the worldwide video surveillance market is now held by the Asia-Pacific region as a result of growing urbanization, increased security risks, and technological improvements. Consequently, China, Japan, and India are the leading nations in this domain, having invested heavily in smart city and public safety projects.

China video surveillance market

One of the main factors propelling the Chinese video surveillance industry is the country's adoption of the smart cities concept. To increase productivity, sophisticated video surveillance systems have been incorporated into municipal government operations. One example of a sophisticated smart city is Yinchuan, China, where every element of the city is integrated into a single system, including garbage cans and buses. One of the first projects to incorporate video surveillance was the Hangzhou City Brain project, which was created by the Chinese technology and retail business Alibaba. It gathers real-time data on traffic conditions throughout the city using sensors and camera systems. An AI hub receives the data and uses it to control 128 intersections' traffic signals while assisting local officials in making quicker and more informed judgments.

Furthermore, China is reportedly working on a surveillance system that will link security cameras all around the country to a database that has each person's dossier of personal information and facial ID profile via the cloud, according to an article in the South China Morning Post. The article started a conversation regarding the possible risks and whether the system is in place already.

Video Surveillance Company Analysis

Key market players in video surveillance industry include Honeywell International Inc., B. Hangzhou Hikvision Digital Technology Co., Ltd, Bosch, Schneider Electric SE, Panasonic Holdings Corporation, Cisco Systems Inc, TKH GROUP N.V., and Motorola Solutions, Inc.

Video Surveillance Company News

In January 2024, The next-generation cloud-based video management solution from Hikvision was unveiled. For business and government clients, it provides cutting-edge AI analytics and seamless interaction with the current security infrastructure.

In June 2023, The supplier of safety solutions Becklar, LLC purchased the supplier of monitored remote guarding systems Eyeforce Inc. Through the acquisition, Becklar LLC will be able to offer a wider range of linked safety solutions in North America, which will improve its offers.

In July 2021, Axis Communications introduced the AXIS Q6078-E PTZ Camera, which features UHD 4K resolution and a 20x zoom for exceptional video quality and wide area coverage. It features Axis Zipstream technology with H.264 and H.265 support to maintain all crucial forensic details while drastically decreasing bandwidth and storage requirements.

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 Surveillance

2. IP -Surveillance

3. Hybrid Surveillance

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

• United States
• Canada

Europe

• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• Netherland
• Turkey

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Thailand
• Malaysia
• Indonesia
• New Zealand

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE

Company Insights:

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

Companies Covered:

• Honeywell International Inc.
• B. Hangzhou Hikvision Digital Technology Co., Ltd
• Bosch
• Schneider Electric SE
• Panasonic Holdings Corporation
• Cisco Systems Inc
• TKH GROUP N.V.
• Motorola Solutions, Inc.

FAQs

1. What is the current size of the Video Surveillance industry?

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3. What are the key factors driving the growth of the Video Surveillance industry?

4. What is the expected market size by 2032?

5. Who are the key players in the Video Surveillance sector?

6. Which country holds the largest market share in the Video Surveillance industry?