Canada Surveillance Camera Market Size (2024 - 2029)

Canada Surveillance Camera Market Analysis

The Canada Surveillance Camera Market size is estimated at USD 0.6 billion in 2024, and is expected to reach USD 1.06 billion by 2029, growing at a CAGR of 10.10% during the forecast period (2024-2029).

• Canadian surveillance camera market has seen consistent growth in recent years, propelled by mounting security apprehensions, technological strides, and a surge in smart city initiatives. Notably, the Canadian federal government initiated the Smart Cities Challenge years ago so municipalities could showcase the most innovative use of technology to enhance urban life.
• Canada is witnessing a surge in crime rates, propelling a heightened demand for surveillance cameras. The country's Violent Crime Severity Index, not seen at these levels in decades, is a stark indicator. Alarming statistics reveal that the homicide rate has peaked at a 30-year high, while incidents of sexual assault are at their highest in decades. Furthermore, data from Statistics Canada underscore a concerning trend: firearms-related violent crimes have been steadily climbing, reaching a pinnacle in 2024, the highest recorded since data collection began in 2009.
• Innovations in camera technology, such as high-definition video, night vision, artificial intelligence, and the IoT, have made surveillance more effective and accessible. These products are accessible through websites such as Secomart, which offers a range of security camera systems and supporting technologies. Others include Lorex, Canadian Security Professionals, Aartech Canada, Sonitrol, and many more. These websites offer transparent prices and are easy to access, which, in turn, drives the market.
• Canadian regulations mandate surveillance systems in specific public and commercial spaces to enhance security. While privacy concerns exist, regulatory frameworks are being developed to balance surveillance needs with individual privacy rights.
• Businesses increasingly turn to surveillance systems to bolster workplace safety, oversee employee activities, and curb internal theft and misconduct. Government policies further bolstered this trend, advocating for the use of security cameras in residential and commercial settings. Take, for example, Manitoba in Canada, which is rolling out a rebate program offering CAD 300 (USD 220) for home business security equipment. This initiative, set to launch in September 2024, covers a range of security essentials, from cameras to alarms and motion detectors.
• Surveillance system adoption is poised for growth in key sectors like healthcare, education, and retail, driven by organizations' shared recognition of bolstered security and operational intelligence benefits. Notably, the retail industry is a frontrunner in embracing AI-equipped surveillance cameras.
• While challenges persist, including public concerns over privacy and the ongoing debate on balancing security with individual rights, the sector faces mounting cybersecurity threats. As surveillance systems become more interconnected, they are at a higher risk of cyberattacks, jeopardizing security and privacy. However, despite these hurdles, the market is set for substantial growth, propelled by the convergence of technological advancements and heightened security demands.

Canada Surveillance Camera Industry Segmentation

Surveillance cameras capture and record video footage for security and monitoring. They are used in public spaces, businesses, and homes to deter crime and enhance safety. The study tracks the revenue accrued through the sale of surveillance camera products by various players operating in Canada as the baseline for market estimations. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period.

The Canadian surveillance camera market is segmented by type (analog-based, IP-based) and end-user industry (government, banking, healthcare, transportation and logistics, and industrial). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.