Market Trends of Italy Video Surveillance Industry
The Camera Segment to Hold a Significant Market Share
- The video surveillance camera segment is anticipated to witness significant growth in Italy. The growing adoption of surveillance cameras in the public and private sectors is paving the way for faster development of the camera segment.
- The number of commercial establishments, such as retail stores, offices, shopping centers, etc., has been increasing in the country owing to growing urbanization. More than 70% of the population in Italy lives in urban areas. Hence, the growing concentration of the urban population also drives the requirement for advanced surveillance systems, creating a favorable ecosystem for the segment's growth in the country.
- Furthermore, Italy has a higher adoption rate of automobiles. Owing to the growing number of vehicles in the country, parking spaces are also increasing. APCOA Italy SpA operates about 190 car parks and articulated parking areas in Italy, with 104 parking spaces. As car parking spaces are usually highly surveilled to ensure the security of vehicles and people, such trends also support the demand for surveillance cameras in the country.
- Furthermore, the adoption of surveillance cameras is also supported by a higher threat of crimes. Despite witnessing a drop in crime rate in recent years, criminal activities continue to remain among the major security concerns driving the adoption of surveillance cameras in the country. According to the Ministero della Giustizia (Italy), in 2023, about 33,063 people were in prison against property crime charges in Italy, while 25,055 were imprisoned due to crimes against people.
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The Residential Segment to Witness Substantial Growth
- The demand for video surveillance systems is expected to grow substantially in Italian households. The growing awareness and adoption of advanced consumer electronics technologies, such as smart home devices, are anticipated to create a favorable ecosystem for the growth of the market studied in Italy.
- This growth in adoption is backed by the availability of supportive infrastructure and the increasing spending abilities of consumers. For instance, in recent years, the country's access to high-speed internet has been increasing. According to Eurostat data, as of December 2023, about 91.89% of the Italian population had access to the internet.
- Furthermore, 5G communication technology has been expanding its footprint in the country in recent years. According to the European 5G Observatory, all major telecom operators in Italy, including Vodafone, WindTre, TIM, Iliad, and Fastweb, already launched 5G services. The growth in 5G will attract more cases of video surveillance systems, thereby driving the demand for more enhanced and stringent security systems.
- Furthermore, Italy also has a lower number of people per household. A significant part of the young population is the working class, and households are usually left empty during working hours. This drives the requirement for a capable surveillance solution that enables house owners to track their residential property against unauthorized entry. According to the Italian National Institute of Statistics (ISTAT), in 2024, the average number of people per household in Italy is estimated to remain at 2.3.
