Surveillance Camera Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 38.45 Billion |
| Market Size (2029) | USD 62.72 Billion |
| CAGR (2024 - 2029) | 10.28 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Surveillance Camera Market Analysis
The Surveillance Camera Market size is estimated at USD 38.45 billion in 2024, and is expected to reach USD 62.72 billion by 2029, growing at a CAGR of 10.28% during the forecast period (2024-2029).
Surveillance cameras are systems designed to capture video footage and even audio, sometimes that can either be monitored in real-time or recorded for later review. These cameras are often connected to a network, allowing authorized individuals to access the footage remotely.
- The development of digital technology and the increasing use of IP-based surveillance cameras are contributing to the growth of this market. IP cameras have rapidly become the go-to solution for video surveillance, bringing with them a range of advantages, including enhanced digital image quality, video analytics, and neuro-network capabilities. Since IP cameras transmit digital signals in real time, they provide enhanced video detail, making them ideal for facial and license plate recognition.
- The surveillance camera market has experienced a significant transformation in the past decade due to the rapid growth of cloud computing and video surveillance software development. Additionally, the increasing awareness of public safety and security issues has led to a surge in tadoptingIP cameras and video management systems.
- The decrease in IP camera prices and the development of advanced analytics and software like video surveillance as a service (VaaS) have increased the demand for wireless and spy cameras to protect citizens. The surveillance camera market is projected to expand due to the development of advanced IP-based digital solutions to detect and deter criminal activities, including vandalism, theft, and acts of terrorism. These factors are the primary drivers of the growth in the surveillance camera market.
- Implementing surveillance and analytics systems presents enterprise organizations with significant operational challenges, with accuracy being one of the primary barriers to adoption. Consumers' increasing data privacy concerns are hindering the growth of the surveillance camera market. Not only are customers deterred from adopting such solutions, but governments globally are legislating data usage and limiting data storage. As a result, enterprises need help creating datasets and expanding their offerings.
- The surveillance camera market witnessed a moderate impact of the pandemic and a steady recovery, with customers transitioning from video cameras to IP video camera systems. The growth in awareness and the pandemic-led awareness created among tonsumers about the benefits of digital technologies continues to impact the studied market's growth,positively, as consumers are now more open to investing in digital technologies, creating a ffavourableecosystem for the studied market's growth.
Surveillance Camera Market Trends
IP Camera Segment to Hold a Significant Market Share
- IP camera is a type of camera that is connected to a network through a high-speed Ethernet connection. It transmits its data to the primary server or computer via an Internet or network connection. IP cameras are commonly used in Internet Protocol (IP) surveillance, closed-circuit Television (CCTV), and digital videography.
- The emergence of surveillance tools, including video analytics, IP Cameras, and other video management solutions, is anticipated to grow in demand as individuals and organizations globally continue to invest more in advanced technologies for enhancing public safety in urban areas. For instance, in recent years, public safety organizations and governments across the globe have made decisions to invest in surveillance cameras and software to improve the general security of their citizens by monitoring transit hubs and other prominent public places.
- IP-based surveillance cameras are paramount in cybersecurity, and stringent regulations are in place to ensure that these systems are not compromised. For instance, in April 2024, Ajax Systems introduced a new range of wired security IP cameras, focusing on high-definition surveillance and robust privacy protections. The product lineup includes the TurretCam, BulletCam, and DomeCam Mini, each offering distinct specifications. These cameras are designed for versatility, featuring an IP65 rating suitable for indoor and outdoor applications. They incorporate a password-less authentication system, ensuring a seamless and secure setup. Additionally, these cameras are equipped to address various video surveillance requirements.
- Surveillance cameras are vital components of any security system. Surveillance cameras can deter potential criminals, giving them a moment of doubt that is often sufficient to prevent them from committing crimes. Hence, the growing crime rate at residential and commercial premises is also anticipated to drive the demand for IP cameras. For example, in Japan, the police recorded 44.23 thousand grand theft offences in 2023, of which about 17.5 thousand were related to burglaries on non-residential properties.
Asia Pacific Expected to Hold Significant Market Share
- The smart city infrastructure in the Asia-Pacific region is increasing, as countries like India, South Korea, and China, among others, are significantly increasing their investments in innovative city initiatives. Countries in the Asia-Pacific region are also increasing investments in intelligent security technologies to reduce criminal activity.
- For instance, China is among the leading countries in terms of surveillance camera infrastructure, with an estimated 700 million cameras, which equates to one camera for every two people in the country. The prevalence of surveillance cameras in China has dramatically increased since the pandemic's onset, as the demand for cameras designed to detect when individuals are wearing face masks or crossing the road before the green light for pedestrians has increased significantly.
- Similarly, in December 2023, as part of the Delhi government's CCTV project, over 2.46 lakh cameras were installed across the 70 Assembly constituencies in the national capital. The Public Works Department, responsible for this initiative, has set a target to install 2.80 lakh CCTV cameras citywide. Of the approved 2,68,462 cameras, 88%—totalling 2,46,424 units—have been successfully installed in the project's first two phases.
- As surveillance cameras are now available with remote access features, new use cases are increasingly being identified, supporting the studied market's growth. For instance, the Ministry of Manpower (MoM) in Singapore announced that from June 2024, it would be mandatory for construction companies to install video surveillance systems at construction sites for projects valued at USD 5 million or more. According to the ministry, the decision has been taken to improve worker safety.
Surveillance Camera Industry Overview
The surveillance camera market is competitive and consists of several players. The growing demand for surveillance cameras also attracts new players, fragmenting the market concentration. The companies in the market continuously try to increase their market presence by introducing new products, expanding their operations, or entering into strategic mergers and acquisitions, partnerships, and collaborations. Some of the major players include Genetec Inc., Bosch Security Systems GmbH, Dahua Technology Co., Ltd, Honeywell International Inc., Panasonic Corporation, and many more.
- April 2024 - Zhejiang Dahua Technology divested its wholly owned US subsidiary to Taiwan's Central Motion Picture Corporation for USD 15 million, effectively exiting the US market. This strategic move follows a series of sanctions that significantly disrupted Dahua's operations. In recent years, Dahua was implicated in mass surveillance activities targeting the Uyghur population, an ethnic minority primarily located in Xinjiang, China. As a result, the imposed ban restricted Dahua from conducting sales in the US, isolating its American operations.
- January 2024 - Consistent Infosystems has unveiled its latest line of surveillance cameras, proudly Made in India. The lineup boasts a diverse array of offerings, such as the Smart Wireless 4G PT Camera, Wireless Pan-Tilt Wi-Fi 3MP/4MP Mini Wi-Fi P2P for easy setup, a 4G Solar Camera, a 4G Color Camera, and the CCTV Camera 4G Dome.
Surveillance Camera Market Leaders
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Genetec Inc
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Bosch Security Systems GmbH
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Dahua Technology Co., Ltd
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Honeywell International Inc.
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Panasonic Corporation
*Disclaimer: Major Players sorted in no particular order
Surveillance Camera Market News
- April 2024 - India's Ministry of Electronics and Information Technology (MeitY) has revised the Compulsory Registration Order (CRO) for CCTV cameras, citing heightened public security concerns. The amendments now mandate Standardisation Testing and Quality Certification (STQC) for all CCTV products, whether manufactured, imported, or sold in India. STQC, known for upholding top-tier quality and reliability in the IT and electronics domains, plays a pivotal role in ensuring the dependability of these products, a critical need in our rapidly advancing technological landscape.
- October 2023 - Hikvision launched the industry's first 2 MP analog cameras with an F1.0 aperture. The ColorVu Fixed Turret (DS-2CE70DF0T-MF) and Bullet (DS-2CE10DF0T-F) Cameras significantly advance, delivering high-quality color imaging around the clock. These cameras facilitate HD over analog cabling, providing an easy upgrade path. Furthermore, they feature 3D Digital Noise Reduction (DNR) technology and an extensive white light range.
Surveillance CameraMarket 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 Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of Macro Trends on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Concerns Regarding the Safety and Security of the Public
5.1.2 Smart City Growth are Prompting the Governments for Advanced Surveillance Solutions
5.1.3 Diminishing IP Camera Prices
5.2 Market Challenges
5.2.1 Cybersecurity Related Threats
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Analog Cameras
6.1.2 IP Based Cameras
6.2 By End-user Industry
6.2.1 Banking and Financial Institutions
6.2.2 Transportation and Infrastructure
6.2.3 Government and Defense
6.2.4 Healthcare
6.2.5 Industrial
6.2.6 Retail
6.2.7 Enterprises
6.2.8 Residential
6.2.9 Others
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 United Kingdom
6.3.2.2 Germany
6.3.2.3 France
6.3.3 Asia
6.3.3.1 China
6.3.3.2 Japan
6.3.3.3 India
6.3.4 Latin America
6.3.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Genetec Inc
7.1.2 Bosch Security Systems GmbH
7.1.3 Dahua Technology Co., Ltd
7.1.4 Honeywell International Inc.
7.1.5 Panasonic Corporation
7.1.6 CP Plus
7.1.7 NEC Corporation
7.1.8 Axis Communications AB
7.1.9 Cisco Systems Inc.
7.1.10 Nice Systems Limited
7.1.11 Avigilon Corporation (Motorola Solutions Inc.)
7.1.12 Axon Enterprise Inc.
7.1.13 Verint System Inc.
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
Surveillance Camera Industry Segmentation
Video surveillance cameras, comprising monitor/display units and recorders, come in analog or digital formats. They find placement in both indoor and outdoor spaces of buildings, operating around the clock. They can be set to record either in response to motion or at scheduled intervals. Businesses primarily employ these cameras for forensics, post-incident analysis, remote monitoring, and situational awareness. The market is defined by the revenue accrued from the sales of different types of products and services to various end users across the regions, including North America, Europe, Asia-Pacific, and the rest of the world.
The surveillance camera market is segmented by type (analog cameras, IP-based cameras), end-user industry (retail, airports, education, banking, healthcare, transportation, and logistics), and geography (North America, Europe, Asia Pacific, Rest of the World). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Analog Cameras | |
| IP Based Cameras |
| By End-user Industry | |
| Banking and Financial Institutions | |
| Transportation and Infrastructure | |
| Government and Defense | |
| Healthcare | |
| Industrial | |
| Retail | |
| Enterprises | |
| Residential | |
| Others |
| By Geography*** | |||||
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| Latin America | |||||
| Middle East and Africa |
Surveillance CameraMarket Research FAQs
How big is the Surveillance Camera Market?
The Surveillance Camera Market size is expected to reach USD 38.45 billion in 2024 and grow at a CAGR of 10.28% to reach USD 62.72 billion by 2029.
What is the current Surveillance Camera Market size?
In 2024, the Surveillance Camera Market size is expected to reach USD 38.45 billion.
Who are the key players in Surveillance Camera Market?
Genetec Inc, Bosch Security Systems GmbH, Dahua Technology Co., Ltd, Honeywell International Inc. and Panasonic Corporation are the major companies operating in the Surveillance Camera Market.
Which is the fastest growing region in Surveillance Camera Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Surveillance Camera Market?
In 2024, the North America accounts for the largest market share in Surveillance Camera Market.
What years does this Surveillance Camera Market cover, and what was the market size in 2023?
In 2023, the Surveillance Camera Market size was estimated at USD 34.50 billion. The report covers the Surveillance Camera Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Surveillance Camera Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Surveillance CameraIndustry Report
Statistics for the 2024 Surveillance Camera market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Surveillance 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.
Surveillance Camera Market Report Snapshots
