What is the global market size of Video Surveillance Market?

Video surveillance Market size was valued at USD 44.10 Billion in 2021 and is poised to grow from USD 48.20 Billion in 2022 to USD 98.18 Billion by 2030, at a CAGR of 9.3% during the forecast period (2023-2030).

Who are the key vendors in the Global Video Surveillance Market?

Both established and emerging players are present in the market, which defines it. For the purpose of maximizing their market positions, the major competitors in this industry are actively concentrating on mergers and acquisitions. In order to gain a larger piece of the market, new and inventive businesses are also interested in improving the current video surveillance services they offer. For instance, the safety solutions company Becklar, LLC purchased Eyeforce Inc. in June 2023. Eyeforce Inc. was a well-known supplier of monitored remote guarding solutions. With a wider and more advanced selection of linked safety solutions in the North American market, the acquisition seeks to enhance Becklar LLC's offerings for its dealers. As a result, Eyeforce Inc. uses live audio response, AI analytics, and video monitoring to improve safety, deter crime, and lower theft and loss in commercial premises. This increases the possibilities of the recently formed partnership in the market for safety solutions. 'Hangzhou Hikvision Digital Technology Co. Ltd. (China)', 'Dahua Technology Co. Ltd. (China)', 'Bosch Security Systems Inc. (Germany)', 'Hanwha Techwin Co. Ltd. (South Korea)', 'Axis Communications AB (Sweden)', 'Honeywell International Inc. (US)', 'Panasonic Corporation (Japan)', 'Avigilon Corporation (Canada)', 'FLIR Systems Inc. (US)', 'Tyco International Ltd. (Ireland)', 'Genetec Inc. (Canada)', 'March Networks Corporation (Canada)', 'Huawei Technologies Co. Ltd. (China)', 'Zhejiang Uniview Technologies Co. Ltd. (China)', 'CP Plus International (India)', 'Uniview Technologies Co. Ltd. (China)', 'Pelco Inc. (US)', 'VIVOTEK Inc. (Taiwan)', 'IDIS Co. Ltd. (South Korea)', 'Agent Video Intelligence Ltd. (Israel)'

What is the key driver of Global Video Surveillance Market?

Artificial intelligence technology has gained traction in recent years. According to a paper published by Carnegie Endowment for the International Peace Organization, in 2019, out of a total of 176 countries, 75 countries are actively leveraging artificial intelligence capabilities for surveillance purposes including facial recognition systems, smart cities, and others. This data reflects that the growing smart city initiatives & developments and facial recognition applications are likely to drive the adoption of surveillance systems using cameras during the forecast period.

What is the key market trend for Global Video Surveillance Market?

Growing Trend of Deep Learning in Video Surveillance Software: Deep learning is the fastest-growing application of artificial intelligence. There is a substantial availability of deep learning algorithms and deep learning infrastructure for pattern analysis to the surveillance industry. The new versions of graphic processing units (GPUs) offered by vendors such as Nvidia Corporation provide deep learning algorithms for cameras and recorders. The capabilities of deep learning technology to facilitate video analytics and reduced calibration of algorithms drive a huge leap in the future use of video surveillance software. As a result, deep learning in surveillance systems is currently trending in the market.

Which region accounted for the largest share in Global Video Surveillance Market?

Asia Pacific market is expected to dominate the global video surveillance market, with China holding a major share. The Chinese government has taken active initiatives to promote the use of surveillance systems, including the 'Sharp Eyes' project and the completion of the 'Skynet video surveillance program' which is the world's largest video-surveillance network. These initiatives are likely to drive the growth of the video surveillance market in the region.

Video Surveillance Market Size, Share, Growth Analysis, By Offering(Hardware, Software, and Services), By System(Analog Video Surveillance Systems, IP Video Surveillance Systems, and Hybrid Video Surveillance Systems), By Vertical(Commercial, Military & Defense, Infrastructure, Public Facilities), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45A2132 | Region: Global | Published Date: August, 2024
Pages: 197 | Tables: 63 | Figures: 75

Video Surveillance Market Regional Insights

Asia Pacific region is expected to dominate the global video surveillance market. Rising emphasis on improving public safety and growing frequency of crimes are projected to primarily augment the demand for video surveillance in this region. India, China, and Japan are slated to be the forefront of video surveillance market growth in the Asia Pacific region. Launch of new safety and security initiatives coupled with high availability and acceptance of advanced video surveillance systems will also create new opportunities for market players in the future.

Meanwhile, the demand for video surveillance in North America is slated to rise at a robust pace going forward. High investments in improving public and private security capabilities and growing use of video surveillance systems by almost all law enforcement agencies are helping boost market growth in this region. Presence of key video surveillance providers will also help generate more revenue from this region going forward. Canada and the United States will be the top markets for video surveillance companies in the future.

Video Surveillance Market Report Snapshots

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Global Video Surveillance Market size was valued at USD 48.19 Billion in 2022 and is poised to grow from USD 52.68 Billion in 2023 to USD 107.31 Billion by 2031, at a CAGR of 9.3% during the forecast period (2024-2031).

Launching new video surveillance equipment will be a key trend among market players. Integrating advanced technologies and analytics to enhance security will also be a key strategy for video surveillance companies going forward. Acquisitions and mergers will help video surveillance market players enhance their global market share. Development of better video cameras will be a trend that will never go out of style. 'Hangzhou Hikvision Digital Technology Co., Ltd. (China) ', 'Zhejiang Dahua Technology Co., Ltd. (China) ', 'Bosch Security Systems, LLC (Germany) ', 'Hanwha Vision Co., Ltd. (South Korea) ', 'Teledyne Technologies Incorporated (US) ', 'Honeywell International Inc. (US) ', 'I-PRO Co., Ltd. (Japan) ', 'Huawei Technologies Co., Ltd. (China) ', 'Zhejiang Uniview Technologies Co., Ltd. (China) ', 'CP PLUS International (India) ', 'Genetec Inc. (Canada) ', 'Corsight AI (Israel) ', 'NEC Corporation (Japan) ', 'NICE (Israel) ', 'Tiandy Technologies Co., Ltd. (China) ', 'VIVOTEK Inc. (Taiwan) ', 'MOBOTIX AG (Germany) ', 'Morphean SA (Switzerland) ', 'Verkada Inc. (US) ', 'Camcloud (Canada) ', 'Ivideon (Russia)'

Body-worn cameras have become highly popular among first responders and law enforcement agencies as they enhance surveillance and improve workforce protection as well. Real-time monitoring of employees can also be done efficiently using body cameras thereby driving video surveillance market growth.

Integration of Video Analytics: Surveillance using cameras integrated with intelligent analytics facilitates early detection and identification of criminal events thereby improving overall security potential. Crowd detection, people-counting, facial recognition, automated number plate detection, and other technologies can also be used with video analytics to improve market growth potential.

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Video Surveillance Market Regional Insights

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What is the global market size of Video Surveillance Market?

Who are the key vendors in the Video Surveillance Market?

What is the key driver of Video Surveillance Market?

What is the key market trend for Video Surveillance Market?

Which region accounted for the largest share in Video Surveillance Market?

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