PUBLISHER: The Business Research Company | PRODUCT CODE: 1465918
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465918
A surveillance camera, also known as a security camera or CCTV camera, is a device designed to capture and record visual information about its surroundings. It is commonly utilized for monitoring and surveillance to enhance security in various settings, including public areas, private properties, businesses, and institutions.
The primary product types in surveillance cameras include Internet Protocol (IP)-based cameras, cellular cameras, and analog cameras. Internet protocol-based cameras rely on the Internet Protocol for data transmission, allowing digital data transmission over networks. These cameras offer remote accessibility, scalability, and integration with other IP devices, contributing to advanced, flexible, and interconnected surveillance systems. Surveillance cameras are further categorized by resolution capacity into high definition (HD), full high definition (FHD), and ultra-high definition (UHD) (4K). They are deployed indoors and outdoors across various end-uses such as residential, commercial infrastructure, public facilities, industrial, military, defense, and others.
The surveillance camera research report is one of a series of new reports from The Business Research Company that provides surveillance camera market statistics, including the surveillance camera industry's global market size, regional shares, competitors with an surveillance camera market share, detailed surveillance camera market segments, market trends and opportunities, and any further data you may need to thrive in the surveillance camera industry. This surveillance camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The surveillance camera market size has grown rapidly in recent years. It will grow from $34.69 billion in 2023 to $38.89 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The historical growth can be attributed to factors such as urbanization and population growth, the need for terrorism and crime prevention measures, advancements in data storage and analytics technology, and a growing awareness among individuals and businesses about the benefits of surveillance cameras.
The surveillance camera market size is expected to see rapid growth in the next few years. It will grow to $57.21 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The anticipated growth in the forecast period can be attributed to the integration of surveillance cameras with Internet of Things (IoT) and Artificial Intelligence (AI), the adoption of cloud-based surveillance solutions, growing privacy concerns, advancements leading to cost reduction in camera technology, and increased security concerns. Major trends in the forecast period include the increased adoption of AI and analytics for enhanced surveillance capabilities, the development of higher resolution and improved imaging technologies, rapid growth in edge computing for real-time data processing, integration with IoT devices for comprehensive monitoring solutions, and the adoption of privacy-centric technologies to address privacy concerns.
The surveillance camera market is poised for growth, driven by increasing crime rates. Crime, defined as unlawful behavior subject to legal punishment, is on the rise due to factors such as economic disparities, social disorganization, and drug-related issues. Surveillance cameras act as a deterrent to criminal activities by providing visible monitoring and valuable evidence for law enforcement. For instance, the National Insurance Crime Bureau reported over 1 million vehicle thefts in 2022, marking a 7% increase from 2021. Additionally, the UK government website CrimeRate.co.uk recorded a crime rate of 75.88 per 1,000 people in 2022-2023, an 8% rise from 2021. Therefore, the increasing crime rates are fueling the demand for surveillance cameras.
Leading companies in the surveillance camera market are prioritizing the development of advanced products such as edge AI cameras to stay competitive. These cameras feature on-device artificial intelligence capabilities for data processing and analysis at the network's edge. For example, IDIS, a South Korea-based security technology company, introduced a new line of Edge AI cameras in March 2023, including dome and bullet camera models. These cameras aim to reduce false alarms, enhance security responsiveness, and accurately identify humans, vehicles, and other objects. Equipped with NIR Lightmaster technology, deep learning-powered 5MP dome and bullet cameras, IDIS Smart Failover, true WDR, H.265, IDIS Intelligent Codec, and PoE capabilities, these cameras are easy to deploy and seamlessly connect with IDIS network recorders. They are particularly suitable for applications requiring precise alerts in vulnerable perimeters, vehicle access areas, parking lots, entrances and exits, and sensitive locations.
In March 2023, IDIS made a strategic acquisition by purchasing Costar Technologies Inc., a US-based security solutions company, for $23.2 million. This acquisition is expected to expand IDIS's presence in the government and intelligent transportation sectors, strengthening its global market position. Costar Technologies Inc. specializes in developing, designing, manufacturing, and selling a variety of security solutions, including surveillance cameras, lenses, and digital video recorders.
Major companies operating in the surveillance camera market are Sony Corporation, Panasonic Corporation, Cisco Systems Inc., Honeywell International Inc., Canon Inc., Hikvision Digital Technology Co. Ltd., Zhejiang Dahua Technology Co. Ltd., Hanwha Techwin Co. Ltd., FLIR Systems Inc., Axis Communications AB, Avigilon Corporation, Verint Systems Inc., Zhejiang Uniview Technologies Co. Ltd., VIVOTEK Inc., Genetec Inc., Pelco Incorporated, Tiandy Technologies Co. Ltd., ACTi Corporation, Bosch Security Systems GmbH, Mobotix AG, March Networks Corporation, Infinova Corporation, AV Costar LLC, IndigoVision Group plc, Swann Communications Pty Ltd., CP PLUS GmbH & Co. KG, Lorex Technology Inc.
Asia-Pacific was the largest region in the surveillance camera market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the surveillance camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the surveillance camera market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The surveillance camera market consists of sales of dome cameras, bullet cameras, box-style cameras, thermal cameras, and security sensors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Surveillance Camera Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on surveillance camera market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for surveillance camera ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The surveillance camera market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.