Asia-Pacific Surveillance Camera Market Size (2024 - 2029)

Asia-Pacific Surveillance Camera Market Analysis

The Asia-Pacific Surveillance Camera Market size is estimated at USD 18.90 billion in 2024, and is expected to reach USD 30.60 billion by 2029, growing at a CAGR of 10.10% during the forecast period (2024-2029).

In the past, video surveillance cameras were primarily used for security purposes. However, they are increasingly being utilized to improve the performance of businesses. Companies are searching for AI-compatible video surveillance systems capable of providing valuable insights from the data collected. These systems offer advanced features such as the ability to automatically detect and send real-time alerts regarding security risks and collect data to provide insights such as peak customer throughput or wait times. With the corporate sector growing significantly in Asia-Pacific, the demand for such solutions is also witnessing notable growth.

Asia-Pacific is poised for a surge in demand for surveillance cameras, driven by the robust growth potential of its end-user industries. Notably, as countries like India and China witness a rapid expansion in industrial infrastructure, the need for surveillance cameras for asset tracking and ensuring workplace safety is on the rise. Moreover, heightened crime rates in several nations are prompting increased investments by government and public authorities in advanced surveillance technologies, further bolstering the market's outlook.

Surveillance cameras in the region find extensive applications, spanning public spaces, infrastructure, and commercial establishments. With advancements like AI integration, the capabilities of video surveillance systems are broadening. For instance, in June 2023, Dahua Technology's AI cameras in China successfully alerted authorities when banners were raised, showcasing the increasing adoption of AI in governmental monitoring.

The convergence of big data, IoT, and deep learning algorithms is paving the way for AI-driven video surveillance. Highlighting this, in May 2024, more than 50 housing board projects in an Asian city embraced live video surveillance, empowered by cutting-edge AI. This AI not only proactively identified and flagged potential hazards during construction but also seamlessly integrated with existing CCTV setups, enhancing real-time hazard detection.

Such advancements are prompting public authorities to ramp up their investments in surveillance systems. A case in point is the Maharashtrian government's approval in January 2024 for installing over 6,000 CCTV cameras in Thane City, Mumbai. Additionally, the Thane police initiated the "Har Ghar Camera" campaign to further promote the adoption of surveillance cameras.

Yet, challenges loom, particularly concerning privacy and data protection compliance. The implementation of surveillance systems must navigate a complex web of laws and regulations, emphasizing the need for stringent privacy safeguards. Misuse of such technology can exacerbate privacy concerns, posing hurdles to the market's growth in Asia-Pacific.

The COVID-19 pandemic disrupted the supply chain and manufacturing of surveillance cameras, notably affecting major suppliers like China. However, with most pandemic restrictions lifted, the market is witnessing a resurgence, fueled by heightened demand from both residential and commercial sectors. Notably, luxury home sales in India surged by 130% in the first half of 2023, underlining the growing emphasis on security and surveillance systems in upscale housing properties, further bolstering the market's trajectory.

Asia-Pacific Surveillance Camera Industry Segmentation

Surveillance cameras are gaining popularity for their cost-effectiveness and user-friendly nature. This surge has seen a rise in installations across residential and commercial spaces, all aimed at enhancing security. Thanks to technological advancements, these cameras are reshaping the security landscape. They come in a variety of styles and resolutions, tailored for different needs, including indoor, outdoor, box, dome, bullet, IP, day and night, wireless, thermal imaging, PTZ, and beyond. The market is defined by the revenue accrued from the sales of different types of surveillance cameras over various end users across Asia-Pacific.

The Asia-Pacific surveillance camera market is segmented by type (analog-based, IP-based, and hybrid), end-user industry (government, banking, healthcare, transportation and logistics, industrial, and other end-user industries [educational institutions, retail, and enterprise]), and country (China, Japan, India, and Rest of Asia-Pacific). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.