Mexico Surveillance IP Camera Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 451.30 Million |
| Market Size (2029) | USD 787.49 Million |
| CAGR (2024 - 2029) | 11.77 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Mexico Surveillance IP Camera Market Analysis
The Mexico Surveillance IP Camera Market size is estimated at USD 451.30 million in 2024, and is expected to reach USD 787.49 million by 2029, growing at a CAGR of 11.77% during the forecast period (2024-2029).
- Driven by escalating security concerns, technological innovations, and proactive government measures, the Mexican surveillance IP cameras market is witnessing robust growth. The rising preference for IP-based surveillance cameras can be attributed to their superior video quality, advanced features, and seamless integration with cutting-edge analytics.
- Mexico is witnessing an increase in the implementation of IP surveillance cameras for urban management strategies as part of its commitment to smart city initiatives. These installations, strategically placed at pivotal locations, aim to monitor traffic, curb crime, and streamline public services. Cities like Mexico City are at the forefront, embracing technological strides and digital evolution.
- With over 80% urbanization and a surge in smartphone usage, remote monitoring has become commonplace, enabling users to access live feeds and alerts from any location. To bolster public safety, the Mexican government has rolled out several initiatives, prominently featuring surveillance systems in public domains to enhance security and mitigate crime, creating a favorable ecosystem for the market's growth.
- Furthermore, federal and state government investments are enhancing surveillance infrastructure deployments. These funds typically upgrade outdated analog systems to modern IP-based solutions. A significant portion of these investments focuses on bolstering border security and monitoring illegal activities. Enhancing public safety is another major priority of the Mexican government, with the country having struggled with higher crime rates for decades. Hence, such trends are driving investments in advanced surveillance technologies, thus creating opportunities in the market studied.
- Rising crime rates in urban centers are fueling the demand for more effective surveillance solutions. Mexico, with some of the world's highest crime rates, boasts several cities notorious for their danger. This reality fosters a consistent demand for advanced surveillance systems to curb criminal activities. Given the presence of numerous criminal organizations and rampant drug trafficking, Mexican law enforcement is increasingly channeling resources into advanced IP surveillance cameras, streamlining their investigative processes.
- Yet, the market in Mexico faces several growth challenges. While basic surveillance cameras come at a relatively low cost, advanced models with cutting-edge features demand a premium. This price point poses challenges for mass adoption, especially given the heightened price sensitivity of Mexican consumers compared to their counterparts in developed nations. Additionally, rising concerns over cybersecurity and the potential misuse of surveillance data could further shape the market's trajectory in Mexico.
Mexico Surveillance IP Camera Market Trends
Rising Crime Rate and Growing Consumer Awareness About Surveillance Cameras Driving the Market
- Property crimes, such as burglary, vandalism, and theft, pose significant challenges for both residential and commercial property owners in Mexico. Beyond the tangible financial losses, these crimes instill a profound sense of insecurity among residents and business owners alike. In Mexico, over 4 million MSMEs account for more than 99.9% of all businesses. These establishments, including retail stores, malls, and entertainment venues, frequently fall prey to criminal activities such as shoplifting, robbery, and vandalism. Notably, retailers are reaping significant benefits from the adoption of IP cameras.
- According to data from Semáforo Delictivo, January 2024 saw Mexico grappling with 12,245 assault cases, 11,887 vehicle thefts, 6,395 business burglaries, and 4,285 home burglaries. Additionally, the National Public Security System documented 42,013 homicides in 2023. Although this number indicates a minor decrease, it is alarmingly elevated when juxtaposed with many other nations. This persistent challenge underscores the pressing need for effective public safety measures, potentially bolstering opportunities in the market studied.
- IP surveillance cameras serve as a formidable deterrent against potential criminals, thereby diminishing the chances of property crimes. Their ability to capture intricate details and archive extensive footage proves invaluable in identifying and prosecuting wrongdoers. Given the rising incidents of crimes targeting properties and commercial establishments, there has been a notable uptick in the adoption of IP cameras.
- Moreover, the growing dominance of IoT and smart home technologies is prompting consumers to shift from conventional surveillance systems to cutting-edge IP cameras. Coupled with the declining costs of IP surveillance technology, these advancements are becoming increasingly accessible to a wider audience. As more individuals and businesses recognize the affordability and ease of implementation of these advanced security solutions, there is a marked increase in investments in IP cameras, propelling the market's expansion.
Government Sector Registering Growth in Demand
- Mexico grapples with high crime rates, rampant criminal organizations, and pervasive drug trafficking. In 2023, for the sixth consecutive year, Mexico recorded over 30,000 murders, underscoring the nation's most violent phase in recent history. The government is channeling investments into advanced surveillance IP cameras to tackle the crime wave.
- The Government of Mexico City has pledged to install a minimum of 80,000 cameras across the metropolis by the close of 2024, substantially boosting the city's surveillance capabilities. This move is integral to a broader strategy to monitor public areas, deter criminal activities, and bolster emergency response.
- Despite declining, crime rates remain pronounced in several regions, fostering an atmosphere of insecurity. Data from INEGI 2023 revealed that approximately 39,900 out of every 100,000 inhabitants felt their neighborhoods were unsafe. Furthermore, figures from the National Public Security System, under Gobierno Federal de México, highlighted 729 human trafficking incidents in 2023.
- Both federal and state investments are accelerating the rollout of surveillance infrastructure. These funds frequently target the modernization of outdated analog systems. Moreover, the government is instituting regulations and standards to guarantee the quality and interoperability of IP surveillance systems, aiming for a safer environment.
- These advanced cameras deliver video quality up to 20 times superior to traditional analogs. With enhanced zoom capabilities, business owners can easily monitor activities from a distance. Consequently, the advanced features of IP-based surveillance cameras are poised to drive their adoption in crucial scenarios during the forecast period.
Mexico Surveillance IP Camera Industry Overview
The Mexican surveillance IP cameras market is fragmented, with major players competing by offering technologically advanced products. The market features a wide range of manufacturers offering various technologies and solutions. Many companies compete in the market, offering various surveillance camera types and integration services. Some key market players include Hikvision, Bosch, Teledyne FLIR, and ACTi Corporation.
- August 2024 - Bolide, a manufacturer specializing in CCTV surveillance products and accessories, unveiled its latest cutting-edge outdoor IP camera. This new camera boasts 15 advanced analyses performed at the edge. The manufacturer emphasized that these solutions are engineered to eliminate the need for extra servers, as processing occurs directly within the camera.
Mexico Surveillance IP Camera Market Leaders
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Teledyne FLIR LLC
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Hangzhou Hikvision Digital Technology Co., Ltd.
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Hanwha Vision America
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ACTi Corporation
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Bosch Sicherheitssysteme GmbH
*Disclaimer: Major Players sorted in no particular order
Mexico Surveillance IP Camera Market News
- February 2024: Reolink, a surveillance camera manufacturer, launched the Reolink Duo 3 PoE camera, marking the debut of its new lineup of 16MP cameras. This 16MP series is designed to address the frequent challenges of low resolution and clarity faced by users of other popular dual-lens cameras. The upgraded dual-lens cameras come equipped with features such as image-stitching for a comprehensive 180-degree view, the capability to capture intricate details from distances of up to 80 feet, and cutting-edge Motion Track technology.
- January 2024: Hikvision, a global leader in security solutions, unveiled its latest innovation: the Stealth Edition Cameras. Sporting a sleek black housing, these cameras not only present a modern aesthetic but are also equipped with state-of-the-art features. Highlights include round-the-clock full-color imaging powered by ColorVu and sophisticated AI detection capabilities for both humans and vehicles, courtesy of AcuSense technology. The cameras' eye-catching black design harmoniously merges style with groundbreaking features, especially their trailblazing AI video technology.
Mexico Surveillance IP Camera 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 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 An Assessment of the Impact of Macroeconomic Trends on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Government Initiatives and Investments
5.1.2 Rising Crime Rate and Growing Consumer Awareness About Surveillance Cameras Driving the Market
5.2 Market Restraints
5.2.1 Privacy Concerns
6. MARKET SEGMENTATION
6.1 By End-user Industry
6.1.1 Banking and Financial Institutions
6.1.2 Transportation and Infrastructure
6.1.3 Government and Defense
6.1.4 Healthcare
6.1.5 Industrial
6.1.6 Retail
6.1.7 Enterprises
6.1.8 Residential
6.1.9 Other End-user Industries
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Teledyne FLIR LLC
7.1.2 Hangzhou Hikvision Digital Technology Co. Ltd
7.1.3 Hanwha Vision America
7.1.4 ACTi Corporation
7.1.5 Bosch Sicherheitssysteme GmbH
7.1.6 Pelco
7.1.7 Zhejiang Uniview Technologies Co. Ltd
7.1.8 IDIS Ltd
7.1.9 Honeywell International Inc.
7.1.10 Panasonic Corporation
7.1.11 CP Plus
7.1.12 Axis Communications
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Mexico Surveillance IP Camera Industry Segmentation
The study tracks the revenue accrued through the sale of surveillance IP camera products by various players operating in the Mexican market. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which support the market estimations and growth rates over the forecast period. The study further analyses the overall impact of macroeconomic factors on the market.
The Mexican surveillance IP cameras market is segmented by end-user industry into banking and financial institutions, transportation and infrastructure, government and defense, healthcare, industrial, retail, enterprises, residential, and other end-user industries. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By End-user Industry | |
| Banking and Financial Institutions | |
| Transportation and Infrastructure | |
| Government and Defense | |
| Healthcare | |
| Industrial | |
| Retail | |
| Enterprises | |
| Residential | |
| Other End-user Industries |
Mexico Surveillance IP Camera Market Research FAQs
How big is the Mexico Surveillance IP Camera Market?
The Mexico Surveillance IP Camera Market size is expected to reach USD 451.30 million in 2024 and grow at a CAGR of 11.77% to reach USD 787.49 million by 2029.
What is the current Mexico Surveillance IP Camera Market size?
In 2024, the Mexico Surveillance IP Camera Market size is expected to reach USD 451.30 million.
Who are the key players in Mexico Surveillance IP Camera Market?
Teledyne FLIR LLC, Hangzhou Hikvision Digital Technology Co., Ltd., Hanwha Vision America, ACTi Corporation and Bosch Sicherheitssysteme GmbH are the major companies operating in the Mexico Surveillance IP Camera Market.
What years does this Mexico Surveillance IP Camera Market cover, and what was the market size in 2023?
In 2023, the Mexico Surveillance IP Camera Market size was estimated at USD 398.18 million. The report covers the Mexico Surveillance IP Camera Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Surveillance IP Camera Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Surveillance IP Camera Industry Report
Statistics for the 2024 Mexico Surveillance IP Camera market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Surveillance IP Camera analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Mexico Surveillance IP Camera Market Report Snapshots
