Video Surveillance Market

Report Scope & Overview:

The Video Surveillance Market Size was valued at USD 47.36 billion in 2022 and is expected to reach USD 100.79 billion by 2030, and grow at a CAGR of 9.9% over the forecast period 2023-2030.

Video surveillance involves the use of video surveillance cameras to monitor any location such as homes or buildings, or people remotely. This is done to make sure that people, important things, or the environment are safe. The global surveillance market has grown significantly as it offers many benefits. Video camera surveillance is also cost effective and can be done remotely, anywhere. This type of surveillance not only ensures the safety of people and their surroundings but also helps you to present strong evidence in the event of an accident. In addition, photos can help in investigating any incident or suspicion. Every day, there is a market for video surveillance emerging as 4k video quality, body-worn cameras, and audio recording solutions. These factors drive the huge growth of the Video Surveillance market.

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MARKET DYNAMICS:

KEY DRIVERS:

• Growing concerns over public safety and security.

• Enhanced hardware capabilities of video cameras.

• In video surveillance, the usage of software analytics and artificial intelligence is growing.

RESTRAINTS:

• Concerns about video data privacy and security.

OPPORTUNITIES:

• Smart gadgets are being used more often for remote monitoring.

• Big data, IoT, and smart cities are on the rise.

CHALLENGES: 

• Different camera manufacturers have different compatibility standards.

• Requirement of high-capacity storage systems and increased bandwidth.

IMPACT OF COVID-19: 

With the growing impact of Covid-19, many large businesses and industries have suffered, with the exception of health care and healthcare products. Lockdown and physical protocols have affected millions of small and medium enterprises alike. Among them is the Video surveillance Market which was facing a fall behind Covid-19. The market has declined by 4-6% since 2019 when the epidemic began. Business disruption was confirmed on both the demand and supply side of the Video Surveillance market. However, the market did not see a major collapse as many others did. Some important companies have made significant gains during the epidemic. In addition, the impact of Covid-19 is estimated to disappear soon. The Video surveillance Marketplace will therefore recover from its fall in 2021 onwards.

Based on Component, the video surveillance market is segmented into hardware, software and service.

Hardware video surveillance market is expected to hold the largest share during forecasting. The market size of the hardware segment is due to the fact that the hardware makes up more than 60% of the total cost of the video surveillance system. There is also a growing use of cameras deployed worldwide due to the growing safety concerns across many verticals. The industry’s transition to IP cameras has led to many hardware-based innovations that offer better performance of low light and object tracking, as well as built-in security. Advances in technology have led to the development of specialized surveillance cameras that can detect images, such as dangerous objects. These things drive the market-driven hardware market with video surveillance.

Based on System, the video surveillance market is segmented into IP Video Surveillance Systems, Analog Video Surveillance Systems.

The IP video surveillance system is expected to face a major market share and register a higher CAGR at the time of forecasting. IP cameras are more efficient compared to analog cameras as they can perform digital processing within the camera, such as compression and detection of movement, and contain other hardware components of encoding / coding or cybersecurity. NVRs used in IP applications can better manage simultaneous video streaming from a larger number of connected cameras compared to DVRs. The rise of video statistics also pushes the market for IP video surveillance systems. Additionally, analog systems have a lower price point, in the past, compared to IP systems. However, that is changing rapidly as IP cameras and storage devices have shown a steady decline in prices, increasing their availability significantly over the past few years. Reducing the cost of using cable over wireless networks also helped to reduce operating costs for IP-based systems.

Based on Application, the video surveillance market is segmented into Infrastructure, Public Facility, Industrial, Commercial, Military & Defense, Residential.

The video surveillance market holds the largest share in the market and is expected to hold the largest share during the forecast period. The increasing importance of video surveillance systems due to increased security concerns across all applications, such as stores, businesses, and banks and financial institutions is driving the market in the marketplace. The growth of the commercial sector has led to an increase in the need for security solutions due to security breaches, such as loss of property, burglary, unauthorized access, and other criminal activities. Small, fast-growing businesses near stores and supermarkets have added to the need for monitoring systems in recent years.

KEY MARKET SEGMENTS:

BY COMPONENT:

• Hardware

• Software

• Service

BY SYSTEM:

• IP Video Surveillance Systems

• Analog Video Surveillance Systems

BY APPLICATION:

• Infrastructure

• Public Facility

• Industrial

• Commercial

• Military & Defense

• Residential

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REGIONAL ANALYSIS:

Video surveillance of the APAC market is expected to cover a large market share during the forecast period. APAC is expected to continue to calculate the largest market size in the video surveillance market due to population growth in major cities and investment in smart city projects. At APAC, an increasing number of retail chains in stores, small businesses, residential, and tourist businesses, as well as government programs in various countries to install video surveillance cameras in public places, such as cities, schools, colleges, religious centers and airports, driving market growth. The increase in population in developing countries such as China and India, as well as the decline in the cost of video surveillance equipment, is causing significant growth in smart video surveillance solutions. As a result of the availability of more camera manufacturers and the decreased cost of video surveillance systems, market prospects in emerging areas exist. The presence of a number of stable players who offer new and advanced solutions in the region.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

COMPETITIVE LANDSCAPE:

The key players in the video surveillance market are Panasonic System Networks, Bosch Security Systems, Axis Communications, Honeywell Security Group, NICE System, Zhejiang Dahua Technology, Hangzhou Hikvision Digital Technology, FLIR Systems, Hanwha Techwin, Avigilon Corporation and other companies & Other Players

Panasonic System Networks-Company Financial Analysis