City Surveillance Market Size (2024 - 2029)

The city surveillance market is experiencing significant growth, driven by advancements in cloud computing and video surveillance technologies, alongside increasing public safety concerns. The demand for integrated surveillance systems is rising due to the introduction of IP-based digital technologies aimed at preventing crimes such as theft and vandalism. The market's expansion is further supported by investments in smart city projects and the decreasing costs of IP cameras. However, challenges such as technology accuracy and past failures in facial recognition have posed constraints. The COVID-19 pandemic has also accelerated the need for electronic security systems, contributing to the market's expansion.

Market Size of City Surveillance Industry

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City Surveillance Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 13.27 Billion
Market Size (2029) USD 19.95 Billion
CAGR (2024 - 2029) 8.50 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

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*Disclaimer: Major Players sorted in no particular order

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City Surveillance Market Analysis

The City Surveillance Market size is estimated at USD 13.27 billion in 2024, and is expected to reach USD 19.95 billion by 2029, growing at a CAGR of 8.5% during the forecast period (2024-2029).

With rapid cloud computing and video surveillance software developments, the city surveillance market has transformed compared to the previous decade. Also, growing concerns regarding public safety and security fuel the adoption of IP cameras and video management systems worldwide. Increased investment in smart city projects and reduced IP camera prices, coupled with technological advancements in analytics and software, are increasing the demand for wireless and spy cameras to keep citizens safe. They are the main factors driving the growth of the city surveillance industry.

  • The growth of the city surveillance market is expected to be fueled by the introduction of new IP-based digital technologies to detect and prevent undesirable behaviors, such as shoplifting, thefts, vandalism, and terror attacks.
  • The deployment of video analytics and video surveillance cameras to identify potential felons is expected to reduce the crime rate in various countries. Furthermore, this is expected to increase the demand for an integrated surveillance system.
  • With the growing inclination toward advanced technologies, such as 5G, and the increasing need for tech-driven surveillance systems, leading IT service firm Atos entered the video analytics market by acquiring Ipsotek in April 2021. Ipsotek's VISuite provides multi-camera tracking capabilities and can be used across various use cases, including crowd management, smoke detection, intrusion detection, perimeter protection, number plate recognition, and traffic management.
  • Various vendors in the market are increasingly focusing on accuracy. In case of failure, numerous vendors in the market have faced a backlash from consumers and government bodies due to technologies lagging in recognizing faces in certain scenarios. For instance, Amazon's facial recognition software 'Rekognition' has been accused of falsely identifying 28 members of the US Congress as people arrested for various crimes. These issues are expected to be a major restraint in adopting surveillance systems.
  • The COVID-19 pandemic is moderately driving electronic security innovation for city infrastructure while at the same time highlighting pieces of technology that will be vital to maintaining broader business momentum in the immediate future. With the rise in the digitation of overall commercial operations globally due to the pandemic, the demand for electronic security systems in smart city surveillance is showing significant growth worldwide.

City Surveillance Industry Segmentation

The city surveillance systems incorporate various hardware and software. Hardware systems include one or more IP cameras on a network that sends the captured video or audio information to a particular place. The captured images are live monitored or transmitted to a central location for recording and storage. Government agencies increasingly use these for monitoring, traffic management, and crime prevention. Some components of city surveillance systems covered in the study have been segmented by cameras, storage, video management systems, and video analytics. The market for the study defines the revenues generated from the sale and installation of city surveillance systems in various regions.

The City Surveillance Market is segmented by Component (Camera, Storage, Video Management System, Video Analytics) and Geography. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Component
Camera
Storage
Video Management System
Video Analytics
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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City Surveillance Market Size Summary

The city surveillance market is experiencing significant transformation driven by advancements in cloud computing and video surveillance software. This evolution is largely fueled by increasing concerns over public safety and security, which have led to a heightened adoption of IP cameras and video management systems globally. The market is witnessing a surge in demand for wireless and spy cameras, propelled by reduced IP camera prices and technological advancements in analytics and software. The integration of new IP-based digital technologies is expected to play a crucial role in detecting and preventing undesirable behaviors, thereby reducing crime rates and boosting the demand for integrated surveillance systems. The market's growth is further supported by the expansion of smart city projects and the adoption of advanced technologies like 5G, which enhance the capabilities of surveillance systems.

The Asia Pacific region is at the forefront of this market expansion, driven by smart city initiatives, rising crime rates, and the adoption of AI and ML technologies. The deployment of surveillance cameras is increasing rapidly, with governments investing heavily in smart security technologies to mitigate crime. The market is characterized by a high level of fragmentation, with major players like Dahua Technology Co. Ltd, Bosch Security and Safety System, Hangzhou Hikvision Digital Technology Co. Ltd, Hanwha Techwin, and Honeywell Security Group leading the charge. These companies are continuously innovating to maintain a competitive edge, introducing advanced products such as AI-powered cameras and multi-functional surveillance systems. Despite challenges related to accuracy and technology adoption, the market is poised for robust growth, driven by the increasing need for electronic security systems in urban areas and the ongoing digitization of commercial operations.

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City Surveillance Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitutes

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Assessment of the Impact of COVID-19 on the Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Component

      1. 2.1.1 Camera

      2. 2.1.2 Storage

      3. 2.1.3 Video Management System

      4. 2.1.4 Video Analytics

    2. 2.2 By Geography

      1. 2.2.1 North America

      2. 2.2.2 Europe

      3. 2.2.3 Asia Pacific

      4. 2.2.4 Latin America

      5. 2.2.5 Middle East and Africa

City Surveillance Market Size FAQs

The City Surveillance Market size is expected to reach USD 13.27 billion in 2024 and grow at a CAGR of 8.5% to reach USD 19.95 billion by 2029.

In 2024, the City Surveillance Market size is expected to reach USD 13.27 billion.

City Surveillance Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)