The surveillance camera market size is projected to reach US$ 65.22 billion by 2031 from US$ 29.05 billion in 2023. The market is expected to register a CAGR of 10.64% in 2023–2031. The growing security concern drives the global surveillance camera market.
Surveillance Camera Market Analysis
An entire network of surveillance cameras is composed of a closed-circuit system that is used to monitor and control a specific property. These cameras often work on IP (internet protocol) networks, which connect the surveillance cameras from the remote location to the main location. Surveillance or security cameras transmit the recorded video to an NVR (Network Video Recorder) in the form of digital signals through a single PoE cable, removing the requirement for power cables.
Surveillance Camera Market Overview
Surveillance cameras are cameras that monitor the area where they are installed. These work in conjunction with security systems. These cameras can be installed in offices, homes, retail stores, or any public place to ensure security and also deter criminal action. The recorded footage of these cameras is also used as evidence in case of the occurrence of the crime. One can find different types of security cameras having different types of features. The surveillance camera is better used for simply monitoring a particular area and thus controlling any unwanted situation. Surveillance cameras are designed to alarm the authorities when criminal activity takes place. They are integrated with AI, but security cameras are just cameras that record footage.
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Surveillance Camera Market: Strategic Insights
Market Size Value in US$ 21.82 Billion in 2018 Market Size Value by US$ 45.93 Billion by 2027 Growth rate CAGR of 8.7% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Surveillance Camera Market: Strategic Insights
| Market Size Value in | US$ 21.82 Billion in 2018 |
| Market Size Value by | US$ 45.93 Billion by 2027 |
| Growth rate | CAGR of 8.7% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Surveillance Camera Market Drivers and Opportunities
Urbanization And Infrastructure Development to Favor Market
Surveillance technologies play a crucial role in optimizing urban infrastructure and services. Sensors and cameras provide data to assist in traffic management, energy consumption optimization, waste management, and the development of better transportation systems. These insights facilitate informed urban planning, leading to resource-efficient and sustainable cities. Further, Integrated surveillance camera systems in smart cities offer unparalleled abilities in ensuring the safety and security of residents. Real-time monitoring facilitates rapid response to emergencies, timely detection of anomalies, and effective crowd management during events or crises. Thus, urbanization and infrastructure development are driving the growth of the surveillance camera market.
Heightened Security Concerns
Cameras, video monitoring systems, and interoperability platforms are gaining more attention than ever due to public safety concerns. The high-priority scramble to install more cameras and enhance video surveillance systems has never been greater. Various countries are deploying surveillance cameras for security purposes. For example, in February 2024, As Russia’s full-scale invasion of Ukraine nears the two-year mark, hundreds of thousands of Chinese-made Hikvision and Dahua video-surveillance cameras used by government-run security systems, residences, and private companies throughout Ukraine heighten the risks of attacks by the Russian military, Ukrainian digital-security experts and government officials fear. Thus, increasing heightened security concerns creates opportunities for the growth of the surveillance camera market.
Surveillance Camera Market Report Segmentation Analysis
Key segments that contributed to the derivation of the surveillance camera market analysis are type, product type, and end-user.
- Based on type, the surveillance camera market is segmented into analog cameras and IP cameras.
- Based on product type, the surveillance camera market is segmented into dome cameras, bullet cameras, box-style cameras, PTZ cameras, thermal cameras, and others.
- Based on end-user, the surveillance camera market is segmented into BFSI, government & defense, commercial, manufacturing & construction, healthcare, logistics & transportation, residential, and others.
Surveillance Camera Market Share Analysis by Geography
The geographic scope of the surveillance camera market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America has various providers of surveillance cameras; the players are CCTV Security Pro and others. Further, the US is under heavy surveillance. Atlanta alone has 50 CCTV cameras per 1,000 inhabitants. Thus, such instances drive the growth of the surveillance camera market.
Surveillance Camera Market Report Scope
Surveillance Camera Market News and Recent Developments
The surveillance camera market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- In January 2024, Consistent Infosystems, products catering to the IT, Electronic, & Home Entertainment Industries, introduced a new range of Made in India surveillance cameras in India, boosting its already strong Security & Surveillance product portfolio. The new range of surveillance cameras offers a complete surveillance solution. It includes a Smart Wireless 4G PT Camera, 4G Solar Camera, Wireless Pan-Tilt Wifi 3MP/4MP Mini wifi P2P Plug and Play Hassle Free, 4G Camera Color Camera and CCTV Camera 4G Dome.
(Source: Consistent Infosystems, Company Website, 2021)
- In February 2023, Idis launched a range of edge AI cameras. The new cameras are built on the company’s focus of extending the scalable use of its self-developed Idis Deep Learning Engine to meet safety, security, and operational needs with AI-powered servers, appliances, and software to suit organizations of all sizes in a wide range of vertical markets.
(Source: Idis, Company Website, 2023)
Surveillance Camera Market Report Coverage and Deliverables
The "Surveillance Camera Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Product Type ; End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global surveillance camera market was estimated to be US$ 29.05 billion in 2023 and is expected to grow at a CAGR of 10.64 % during the forecast period 2023 - 2031.
Urbanization and infrastructure development are the major factors that propel the global surveillance camera market.
Integartion of AI to play a significant role in the global surveillance camera market in the coming years.
The key players holding the majority of shares in the global surveillance camera market are Canon Inc., Dahua Technology Co., Ltd, FLIR Systems, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., and Hanwha Techwin Co., Ltd.
The global surveillance camera market is expected to reach US$ 65.22 billion by 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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