Video Surveillance Systems Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 81.68 Billion |
| Market Size (2029) | USD 145.38 Billion |
| CAGR (2024 - 2029) | 12.22 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Video Surveillance Systems Market Analysis
The Global Video Surveillance Systems Market size is estimated at USD 81.68 billion in 2024, and is expected to reach USD 145.38 billion by 2029, growing at a CAGR of 12.22% during the forecast period (2024-2029).
- The video surveillance market is set to experience growth due to the introduction of new IP-based digital technologies. These technologies are designed to detect and prevent undesirable behaviors such as shoplifting, theft, vandalism, and terror attacks. Video surveillance is utilized in various industries, including manufacturing, banking, financial services, transportation, and retail. These methods are widely used in countries such as the United States, the United Kingdom, India, China, and Brazil, owing primarily to the larger scale of the industries involved and greater consumer awareness.
- Also, the use of video analytics and surveillance cameras to identify potential offenders is expected to reduce crime rates and increase demand for integrated surveillance systems. In recent years, the adoption of video surveillance as a service (VSaaS) has greatly improved. This improvement can be attributed to the increased market penetration of IP cameras. The growth of the VSaaS segment is also being aided by several significant factors, such as cost containment by major IT organizations, the emergence of data centers, and improved functionalities associated with centralized data.
- During the COVID-19 pandemic, IP video surveillance systems were used for various security purposes across multiple countries. These advanced cameras had high-performance computing power and video analytics that allowed users to convert real-time images into extensive data analysis. Video analytic techniques such as queue management, people counting, crowd detection, and personal protective equipment detection were commonly used to enforce social distancing measures and norms.
- During the COVID-19 pandemic, the reliance on remote patient monitoring increased to reduce the risk of transmitting the virus. In-room video cameras and integrated telemetry systems were used in hospitals to monitor patient vital signs from a distance. This resulted in a significant reduction in face-to-face interactions between patients and medical staff, helping to limit the spread of the virus.
- Asia-Pacific witnessed the fastest growth in the video surveillance market, primarily due to the considerable investments in security and safety solutions by countries like India and China. Governments across the region recognize the importance of public safety and consider it a crucial function. With the constant growth of cities, video surveillance has become an increasingly important tool for monitoring population movement and combating crime.
- However, video surveillance systems have been criticized for violating people's privacy and are opposed by several civil liberties organizations and activists. People are now more worried about who watches the video and how it might be misused. They expect their personal information to be used only for legitimate and specific purposes, which has led to increased concerns regarding using such systems.
Video Surveillance Systems Market Trends
The Infrastructure Segment is Expected to Register Significant Growth
- The infrastructure segment encompasses roads, rail, airports, stadiums, etc. Technological advancements in the industry have led to the development of night vision cameras that are designed to work in low-lit areas. Infrastructure segments, particularly roads, need night-vision cameras to monitor traffic and keep track of suspicious activities. These factors are anticipated to propel the demand for video surveillance systems in the infrastructure segment.
- In recent years, there has been a rise in terrorist attacks and intrusions at airports. This has led to an urgent need for airport operators to prevent unauthorized access and detect suspicious activities at an early stage. As a result, there has been an increase in demand for security software.
- Video surveillance is one of the crucial aspects of stadium security systems since manual monitoring of individual entrants becomes difficult during large gatherings. For instance, according to CVE Details, a security vulnerability database, in the first week of 2024, internet users worldwide discovered 612 new common IT security vulnerabilities and exposures. The highest annual figure of 29,065 thousand was recorded in 2023. CVE Details provides a vulnerability intelligence solution that offers information on exploits, advisories, products, and CVE risk scores. Some of the security guards are expected to be equipped with wearable cameras to monitor scenes in real time.
- Departments of transportation (DOTs) are expanding their use of job site cameras to monitor their projects, improve safety, and minimize cost overruns as demand mounts on the infrastructure business to keep up with other sectors in terms of productivity.
- Further, with the development of smart cameras and various associated sensors, there has been a shift toward more in-band analytics. This has laid down a strong foundation for SaaS.
China is Expected to Dominate the Market
- The Asia-Pacific market experienced substantial growth due to the increased usage of video surveillance cameras in the field of security and law enforcement. This was primarily aimed at reducing the crime rate in countries like India and China. In China, government-funded cameras are mainly placed in public spaces to provide widespread video surveillance coverage.
- The implementation of smart cities in China was a major driving force for the video surveillance market. Advanced video surveillance systems have been integrated into city administration to improve efficiency. Yinchuan, a city in China, is an example of an advanced smart city where everything, from buses to trash cans, is incorporated into a unified system.
- The "City Brain" project in Hangzhou, developed by the Chinese retail and technology giant Alibaba, was among the pioneers in utilizing video surveillance for traffic management. The project involves the installation of camera systems and sensors throughout the city, which collect real-time data on road conditions. This data is then processed by an AI-enabled hub, which helps optimize traffic signals at 128 intersections and assists city officials in making faster and more informed decisions.
- China is reportedly making significant strides in creating a system that would link security cameras throughout the country to a central database containing individuals' facial recognition profiles and personal information. An article in the South China Morning Post sparked a debate on the potential dangers of such a system, including concerns about privacy and government surveillance. People were concerned about the implantation of the system and what implications it would have for the population.
- China is a significant global influencer in AI-powered surveillance technology as it harbors renowned manufacturers like ZTE, Huawei, Hikvision, and Dahua, who offer their surveillance technology to over 63 countries. Among these countries, 32 have already signed on to China's Belt and Road Initiative, which is further expanding the demand for video surveillance in the region.
Video Surveillance Systems Industry Overview
The video surveillance market is fiercely competitive due to several major players constantly upgrading to stay ahead of the competition. Some of the leading companies in the market include Honeywell Security Group, Bosch Security Systems Incorporated, Samsung Group, Schneider Electric SE, and Panasonic Corporation.
Video Surveillance Systems Market Leaders
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Axis Communications AB
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Bosch Security Systems Incorporated
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Honeywell Security Group
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Samsung Group
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Panasonic Corporation
*Disclaimer: Major Players sorted in no particular order
Video Surveillance Systems Market News
- April 2024: Bosch presented advanced solutions that use visual and audio intelligence to enhance security, safety, and operations across various industries, including energy and utilities, education, and smart cities, among others, during the ISC West 2024 event. These solutions feature edge-based, application-specific analytics that accurately detect, classify, and count objects. They enable the latest video cameras from Bosch to act as sensors, which serve as the foundation for solutions that help secure perimeters, improve safety for building occupants, and gather data for informed decision-making.
- April 2024: Schneider Electric, the global leader in the digital transformation of energy management and automation, announced a new partnership with IPConfigure, a leading managed service provider of business security. The partnership aims to integrate advanced video surveillance solutions into Schneider Electric's EcoStruxure™ Buildings platform. By combining Schneider Electric's Access Expert and Security Expert products with IPConfigure's Orchid video management system (VMS), the partnership will provide an unparalleled security ecosystem. It will offer a comprehensive, integrated solution for protecting people, assets, and data.
- October 2023: Canon launched a new range of 4K remote PTZ (pan-tilt-zoom) camera systems for the cinematography and broadcasting industry. The range includes indoor and outdoor PTZ cameras - CR-N100, CR-X300, and CR-X500. Canon also participated in the 32nd Broadcast India Show and showcased a 'Wall of Fame' featuring renowned and celebrated productions from Indian and International cinema.
Video Surveillance Systems Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Technology Snapshot
4.5 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Introduction to Market Dynamics
5.1.1 Market Drivers
5.1.1.1 Augmented Demand of IP Cameras
5.1.1.2 Emergence Of Video Surveillance-as-a-Service (VSAAS)
5.1.1.3 Increasing Demand For Video Analytics
5.1.2 Market Restraints
5.1.2.1 Need for High-capacity Storage for High-resolution Images
5.1.2.2 Privacy and Security Issues
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Hardware
6.1.1.1 Camera
6.1.1.1.1 Analog
6.1.1.1.2 IP Cameras
6.1.1.1.3 Hybrid
6.1.1.2 Storage
6.1.2 Software
6.1.2.1 Video Analytics
6.1.2.2 Video Management Software
6.1.3 Services (VSaaS)
6.2 By End-user Vertical
6.2.1 Commercial
6.2.2 Infrastructure
6.2.3 Institutional
6.2.4 Industrial
6.2.5 Defense
6.2.6 Residential
6.3 By Geography
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 Germany
6.3.2.2 United Kingdom
6.3.2.3 France
6.3.2.4 Rest of Europe
6.3.3 Asia Pacific
6.3.3.1 China
6.3.3.2 Japan
6.3.3.3 India
6.3.3.4 Rest of Asia Pacific
6.3.4 Latin America
6.3.4.1 Brazil
6.3.4.2 Mexico
6.3.4.3 Rest of Latin America
6.3.5 Middle East and Africa
6.3.5.1 United Arab Emirates
6.3.5.2 Saudi Arabia
6.3.5.3 Rest of Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Axis Communications AB
7.1.2 Bosch Security Systems Incorporated
7.1.3 Honeywell Security Group
7.1.4 Samsung Group
7.1.5 Panasonic Corporation
7.1.6 FLIR systems Inc.
7.1.7 Schneider Electric SE
7.1.8 Qognify, Inc. (Battery Ventures)
7.1.9 Infinova Corporation
7.1.10 Zhejiang Dahua Technology Company Limited
7.1.11 Hangzhou Hikvision Digital Technology Company Limited
7.1.12 Sony Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Video Surveillance Systems Industry Segmentation
Video surveillance systems refer to the use of security cameras to monitor and record activities in specific areas or locations for security, safety, or monitoring purposes. Such a system comprises cameras, monitors or display units, and recorders. These cameras can be analog or digital and come with various design features. These systems can be installed indoors and outdoors, operate 24/7, and can be set to record based on movement or specific times of the day.
The video surveillance market is segmented by type (hardware (camera (analog, IP cameras, and hybrid) and storage), software (video analytics and video management software), and services (VSaaS)), end-user vertical (commercial, infrastructure, institutional, industrial, defense, and residential), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).
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Video Surveillance Systems Market Research FAQs
How big is the Global Video Surveillance Systems Market?
The Global Video Surveillance Systems Market size is expected to reach USD 81.68 billion in 2024 and grow at a CAGR of 12.22% to reach USD 145.38 billion by 2029.
What is the current Global Video Surveillance Systems Market size?
In 2024, the Global Video Surveillance Systems Market size is expected to reach USD 81.68 billion.
Who are the key players in Global Video Surveillance Systems Market?
Axis Communications AB, Bosch Security Systems Incorporated, Honeywell Security Group, Samsung Group and Panasonic Corporation are the major companies operating in the Global Video Surveillance Systems Market.
Which is the fastest growing region in Global Video Surveillance Systems Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Video Surveillance Systems Market?
In 2024, the North America accounts for the largest market share in Global Video Surveillance Systems Market.
What years does this Global Video Surveillance Systems Market cover, and what was the market size in 2023?
In 2023, the Global Video Surveillance Systems Market size was estimated at USD 71.70 billion. The report covers the Global Video Surveillance Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Video Surveillance Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Video Surveillance Industry Report
The global Video Surveillance as a Service market is characterized by a comprehensive market analysis that includes segmentation by type, end-user vertical, and geography. The market report highlights the significant market growth expected in the coming years, driven by advancements in hardware, software, and services. The industry report provides an in-depth industry overview, focusing on the contributions of various market leaders and the evolving market trends.
The market research indicates a robust market forecast, with industry statistics pointing to substantial growth in market size. This growth is attributed to the increasing adoption of video surveillance technology across commercial, infrastructure, institutional, industrial, defense, and residential sectors. The industry analysis underscores the importance of video analytics and video management software in enhancing the functionality and efficiency of surveillance systems.
The market segmentation analysis reveals that IP cameras and hybrid cameras are gaining traction, while the demand for analog cameras is declining. The market outlook suggests that the industry will continue to evolve, with significant investments in research and development driving innovation and market value.
Industry reports provide valuable insights into market data, highlighting the market leaders who are setting the pace in technology adoption and market expansion. The market review emphasizes the importance of understanding market trends to stay competitive. The industry research also sheds light on the market's growth rate, which is a critical factor for stakeholders to consider.
The report example and report PDF available offer a detailed market review and industry outlook, providing a comprehensive understanding of the market's current state and future predictions. The market segmentation further breaks down the industry size and market value, offering a clear picture of the market's potential.
In conclusion, the video surveillance as a service market is poised for significant growth, driven by technological advancements and increasing demand across various sectors. The market data and industry statistics provided in the industry reports and research companies' analyses offer a solid foundation for strategic planning and decision-making.
