The Video Surveillance market size is projected to reach US$ 114.55 billion by 2031 from US$ 51.78 billion in 2023. The market is expected to register a CAGR of 10.4 % in 2023—2031. Increasing security concerns drive the adoption of advanced video surveillance technologies are likely to remain key video surveillance market trends.
Video Surveillance Market Analysis
Expanding demand for business data and analytics, expanding acceptance of smart city projects, rising security concerns, and technological developments like Al-powered video analytics. All these elements work together to drive the growth of the video surveillance industry. The market is growing in part because of the necessity for real-time access to surveillance feeds and remote monitoring, as well as because of legislative requirements for increased security measures. The need for video surveillance has increased across several industries by its integration with other systems like access control and the Internet of Things.
Video Surveillance Market Overview
A security system that records images and videos, which can then be stored, transmitted over communication networks, or compressed, is called a video surveillance system. Systems for digital video surveillance can be employed in almost any setting. All types of organizations, including governments, businesses, financial institutions, and healthcare centers, are expected to implement security and monitoring protocols to a certain extent.
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Video Surveillance Market: Strategic Insights
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Video Surveillance Market: Strategic Insights
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Video Surveillance Market Drivers and Opportunities
Deployment of AI-driven video analytics algorithms.
The increasing integration of artificial intelligence (Al) technologies has been driving the growth of the video surveillance market. Al-driven video analytics algorithms make use of machine learning and computer vision techniques, in contrast to conventional approaches that depend on human operators to monitor and interpret video footage. This process is prone to errors and time restrictions.
Large volumes of video data are processed effectively by these algorithms, enabling real-time threat identification, object recognition, behavior analysis, and other advanced features.
Increasing Adoption of Smart Devices for Remote Monitoring
A significant increase in internet usage and related products has occurred in recent years, driven by the increasing use of powerful smartphones and tablets. Thanks to this increase in computing capacity, end users can now utilize smart devices to obtain surveillance data remotely and keep an eye on sites from a distance. The ability to wirelessly broadcast video from mobile cameras to central command centers has made mobile video surveillance increasingly ubiquitous. The need for real-time and remote surveillance data access has grown dramatically as users managing many business locations look for these kinds of features.
Video Surveillance Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Video Surveillance market analysis are platforms, industries, and services.
- Based on platforms, the video surveillance market is divided into hardware and software. The software segment is anticipated to grow in the forecast period.
- By industries, the market is segmented into commercial, residential, infrastructure, industrial, and institutional. The commercial segment is anticipated to grow in the forecast period.
- Based on services, the video surveillance market is divided into hosted, managed, and hybrid. The hosted segment is anticipated to grow in the forecast period.
Video Surveillance Market Share Analysis by Geography
The geographic scope of the video surveillance 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 dominated the video surveillance market. High technology adoption trends in various industries in the North American region have fuelled the growth of the video surveillance market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American video surveillance market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has many video surveillance market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the video surveillance market.
Video Surveillance Market Regional Insights
The regional trends and factors influencing the Video Surveillance Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Video Surveillance Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Video Surveillance Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 51.78 Billion |
| Market Size by 2031 | US$ 114.55 Billion |
| Global CAGR (2023 - 2031) | 10.4 % |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Platforms
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Video Surveillance Market Players Density: Understanding Its Impact on Business Dynamics
The Video Surveillance Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Video Surveillance Market are:
- Honeywell International Inc.
- Panasonic Corporation
- Sony Corporation
- Schneider Electric
- Samsung Electronics Co., Ltd
- Robert Bosch GmbH
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Video Surveillance Market top key players overview
Video Surveillance Market News and Recent Developments
The video surveillance 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 April 2024, - Axis Communications, one of the global leaders in network video surveillance, proudly introduced Axis Cloud Connect, an open cloud-based platform designed to provide customers with more secure, flexible, and scalable security solutions. With two decades of experience in cloud connectivity and over a million cloud-connected Axis cameras in use currently. Axis Cloud Connect is tailored to work seamlessly with Axis devices, empowering businesses with a comprehensive suite of managed services that support system and device management, video and data delivery, and meet high demand for cybersecurity.
(Source: Axis Communications, Press Release, 2024)
- In March 2024, Transline Technologies Limited, the Delhi-based tech giant, and its collaboration with RailTel Corporation of India Ltd and TCIL for the implementation of its state-of-the-art Integrated Control and Command Center (ICCC) as part of the video surveillance system project for Indian Railways will prove to be very crucial for tech-related industry.
(Source: Transline Technologies Limited, Press Release, 2024)
Video Surveillance Market Report Coverage and Deliverables
The "Video Surveillance 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
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Platforms, Industries, and Service
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The global video surveillance market is expected to reach US$ 114.55 billion by 2031.
The key players holding majority shares in the global video surveillance market are Honeywell International Inc., Panasonic Corporation, Sony Corporation, Schneider Electric, Samsung Electronics Co., Ltd, Robert Bosch GmbH, IndigoVision Group Plc, FLIR Systems Inc., Axis Communications AB, Dahua Technologies Co., Ltd.
Increasing security concerns drive the adoption of advanced video surveillance technologies are the major factors that propel the global video surveillance market growth.
Increasing adoption of smart devices for remote monitoring are anticipated to play a significant role in the global video surveillance market in the coming years.
The global video surveillance market was estimated to be US$ 51.78 billion in 2023 and is expected to grow at a CAGR of 10.4% during the forecast period 2024 - 2031.
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