PUBLISHER: The Business Research Company | PRODUCT CODE: 1499962
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499962
Wireless video surveillance involves leveraging wireless technology to transmit video data from surveillance cameras to a central monitoring system, eliminating the necessity for physical wiring or equipment. It offers a flexible, scalable, and cost-effective solution for monitoring and securing diverse environments.
The primary components of wireless video surveillance comprise hardware and services. Wireless video surveillance hardware encompasses the physical components utilized in wireless security camera systems, including cameras, monitors or display units, and a video management system (VMS). These components cater to various types of customers, ranging from business-to-business to business-to-customer, and find applications across various sectors such as infrastructure, residential, commercial, military, among others.
The wireless video surveillance market research report is one of a series of new reports from The Business Research Company that provides wireless video surveillance market statistics, including the wireless video surveillance industry global market size, regional shares, competitors with a wireless video surveillance market share, detailed wireless video surveillance market segments, market trends and opportunities, and any further data you may need to thrive in the wireless video surveillance industry. This wireless video surveillance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The wireless video surveillance market size has grown rapidly in recent years. It will grow from $22.77 billion in 2023 to $25.48 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth observed during the historical period can be attributed to several factors, including the rapid evolution of smart cities, an increased demand for real-time surveillance systems, the ability to record and monitor activities, rising disposable incomes, and challenges faced by public administration.
The wireless video surveillance market size is expected to see rapid growth in the next few years. It will grow to $40.37 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The forecasted growth can be attributed to several factors expected in the upcoming period, including the increase in urbanization demands, higher adoption rates of advanced surveillance technologies, a heightened need for safety in high-risk areas, growing demand for wireless home video surveillance, and the desire for remote monitoring and accessibility. Key trends anticipated in the forecast period encompass the rapid advancement of 5G technology, continuous product innovations, integration of IoT and artificial intelligence into surveillance systems, increased partnerships and collaborations within the industry, and the emergence of new technologies in the field of video surveillance.
The growth of the wireless video surveillance market is expected to be propelled by the increasing integration of IoT technology. IoT, or the Internet of Things, refers to a network of interconnected devices, sensors, objects, and systems that communicate and exchange data over the Internet or other networks. Advancements in connectivity, hardware cost reductions, data analytics capabilities, and integration with AI and machine learning are driving the rising adoption of IoT technology. This technology facilitates the incorporation of artificial intelligence (AI) and deep machine learning (ML) into video surveillance systems, enabling advanced video analytics. Utilizing IoT technology in wireless video surveillance enhances functionality, efficiency, and security through advanced analytics, improved connectivity, and remote monitoring. For example, data from the GSM Association in January 2022 suggested that IoT connections would surpass 23.3 billion by 2025, a significant increase from the 15.1 billion connections recorded in 2021. Hence, the growing integration of IoT technology is a driving force behind the wireless video surveillance market's growth.
Key players in the wireless video surveillance market are prioritizing innovative technologies, such as AI-enabled smart home security cameras, to solidify their market position. AI-enabled smart home security cameras are surveillance cameras equipped with AI technology, expanding their capabilities beyond traditional video monitoring. For instance, in January 2024, Abode Systems partnered with Morse Micro and Xailient to launch the world's first wireless home security camera enhanced with AI-at-the-edge capabilities. This battery-powered camera utilizes the Wi-Fi-certified HaLow SoC to ensure superior performance, even in noisy environments crowded with multiple devices and cameras. It incorporates a PIR motion sensor along with AI detection to identify meaningful activity and trigger critical event recordings.
In May 2022, Motorola Solutions Inc. acquired Videotec for $22 million, aiming to enhance the manufacturing and design capabilities of its Pelco brand, particularly focusing on producing explosion-proof, ruggedized, and stainless-steel video-security cameras. Videotec, based in Italy, specializes in designing and manufacturing wireless video surveillance equipment and systems.
Major companies operating in the wireless video surveillance market are Samsung Electronics Co. Ltd., Robert Bosch GmbH, Panasonic Corporation, Cisco Systems Inc., Canon Inc., Tyco International, Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell Security, Motorola Solutions Inc., Zhejiang Dahua Technology Co. Ltd., FLIR Systems Inc., Axis Communications AB, IDIS, Vivotek Inc., Genetec, Infinova Group, D-Link Corporation, Eagle Eye Networks Inc., Pro-Vigil, Qognify Inc., Ivideon, Advancis Software & Services GmbH, CP PLUS, Vantage Security Ltd., Camcloud, Eyeforce Inc.
North America was the largest region in the wireless video surveillance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wireless video surveillance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the wireless video surveillance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The wireless video surveillance market includes revenues earned by entities providing services such as cloud video surveillance, professional alert and response services, and integration with internal infrastructure and CCTV (Closed-Circuit Television) Solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The wireless video surveillance market also consists of sales of HDMI (High-Definition Multimedia Interface) transmitters, compact wireless WiFi video transmitters, and Dual-Band wireless video transmission systems. 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.
Wireless Video Surveillance 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 wireless video surveillance 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 wireless video surveillance? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The wireless video surveillance 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.
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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.