Market Trends of Latin America Surveillance Camera Industry
IP-based Camera Gaining Popularity
- The demand for internet protocol (IP)-based camera systems is on the rise, driven by the continuous evolution of infrared cameras and the integration of IoT in video surveillance. As incidents of burglaries and home invasions escalate, residential security has become a paramount concern for homeowners.
- Statistics from Semáforo Delictivo revealed that Mexico witnessed 54,632 private home burglaries in 2023, a decrease from the 60,514 incidents reported the previous year. While 2017 marked a peak in house burglaries, the numbers have been steadily declining since. Additionally, the Brazilian Public Safety Annual Report 2023 highlighted a worsening public safety landscape. In 2022, Brazil recorded 373,225 vehicle thefts, an 8% increase from the previous year. The report also notes a 16% rise in cell phone thefts, reaching one million in 2022. These figures, coupled with a burgeoning smartphone user base and the availability of secure installment subscriptions, underscore a promising trajectory for the residential security market.
- As digital camera technologies advance, the prominence of cloud-based solutions is bolstering the role of IP-based cameras in Latin America. Many firms are channeling significant investments into cloud technologies, marking a new era in surveillance. The advent of cloud-based cameras has spurred companies to introduce direct-to-cloud VMS, empowering users to manage their systems remotely from any device.
- In June 2024, Verkada unveiled its '2024 State of Cloud Physical Security' report, drawing insights from IT and physical security leaders. The report delves into prevailing trends, industry challenges, and the shift from on-premises to cloud-based setups. Notably, the report highlights that over 90% of security leaders foresee the future of physical security hinging on cloud solutions. These solutions promise enhanced scalability, real-time alerts, and AI integration, painting a bullish outlook for IP-based surveillance cameras in the regional market.
Understand The Key Trends Shaping This Market
Download PDF
Brazil to Witness Significant Growth
- Brazil's urbanization has resulted in a higher population density in cities. According to the Central Intelligence Agency (CIA), in 2023, about 87.8% of the population in Brazil was living in urban areas. The CIA also predicts a 0.87% change in the urbanization rate during 2020-2025. Such trends necessitate the implementation of surveillance cameras to monitor public places, residential areas, and streets to ensure residents' safety.
- Brazil is also among the leading countries in Latin America, which is witnessing the fastest growth in economic and infrastructure development, owing to which the demand for surveillance cameras continues to rise to secure crucial infrastructure. For instance, Sao Paulo and Mato Grosso are among Brazil's leading regions with the highest concentration of private airports. Genetec provided security and leisure services from the curb to the gate at Brazil's Floripa International Airport since 2023. Genetec's platform manages over 500 surveillance cameras and 210 doors to the terminal's administrative, critical areas, including boarding, arrivals, and customs.
- Several recent initiatives by public authorities also support the market's growth in Brazil. For instance, advanced surveillance solutions like facial recognition technologies are being used at Brazilian metro stations. Solutions provided by Intelligent Security Systems (ISS) were recently equipped at Line 3-Red of the Sao Paulo Metro, including face biometrics technology and object identification and tracking capabilities.
- Educational institutions can safeguard resources, equipment, and buildings from theft and vandalism by implementing surveillance cameras in high-security areas. Axis Communications, specializing in video surveillance solutions, has successfully transitioned several institutions from an analog surveillance system to an IP/PoE solution. Furthermore, the company has also been working with several corporate vendors in Brazil. For instance, in 2023, Vivo, a leading consumer electronics company with hundreds of stores in Brazil, adopted surveillance systems as a pilot project in its 80 stores and planned to extend it to over 100 stores. According to Vivo, the surveillance solution consisted of AXIS M30 Dome series cameras.
- Furthermore, in recent years, vehicle theft and car breakage incidents have also increased in Brazil, which is anticipated to drive the adoption of surveillance cameras in parking lots and cars. The potential for video analytics to identify, assess, and act upon unusual or suspicious activity can increase the demand for video analytics systems in areas susceptible to vehicle break-ins.
Get Analysis on Important Geographic Markets
Download PDF
