Video Surveillance Market Report Scope & Overview:

The Video Surveillance Market size was valued at USD 63.97 billion in 2023 and is expected to grow to USD 163.32 billion by 2031 and grow at a CAGR of 12.43% over the forecast period of 2024-2031.

Increased security concerns, increased adoption of smart city initiatives, rising demand for business intelligence and analytics as well as advances in technology such as AI powered video analysis. The expansion of the video surveillance market is driven by these factors as a whole. Furthermore, the need for remote monitoring and access to surveillance feeds in real time, as well as regulatory requirements for enhanced security measures, are driving market growth. The demand for video surveillance in all sectors is further enhanced by the integration of it with other systems such as access control and Internet of Things. The growing demand for security in private and public places, such as schools, airports, businesses or homes, is the driving force behind growth. Intelligent video surveillance is needed to monitor all activities in the emergence of smarter cities. For their scalability and cost effectiveness, cloud-based systems are gaining traction.

Video Surveillance Market Revenue Analysis

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Market Dynamics

Key Drivers:  

  • Increasing use of body cameras in a number of sectors including healthcare and retail

 In other sectors such as healthcare and retail, the increasing use of body worn cameras by security forces or law enforcement agencies has led to their widespread deployment. In order to improve customer relations, enhance the protection of workers and prevent unusual activities, body worn cameras offer a number of benefits in sectors such as healthcare, retail or hospitality.

  • The extensive integration of AI technology


  • Privacy and security concerns with regard to video data

 In order to regulate the use of video surveillance technology, a number of countries and regions are adopting more stringent privacy regulations that compel businesses to take an increased responsibility for collecting data. In the case of remote or cloud video storage where unauthorised access, leakage and theft of recordings pose serious risks, this will become more important.


  • Increasing the adoption of smart devices to monitor remotely

 Internet usage and related products have increased significantly over the past years, driven by a strong global uptake of smartphones and tablets with high power capabilities. With this rise in computing capacity, users have been able to use smart devices for remote access to surveillance data that enable them to see where they are located from a distance.

  • The potential benefits of video surveillance are due to the development of 5G technology and IoT.


  • High-capacity storage systems and increasing bandwidth

The need for high-capacity storage systems and increased bandwidth is a major challenge as the market for video surveillance evolves with the integration of AI and advanced Analytics. Storage solutions are needed to cope with the exponential growth in the volume of video data generated by high-definition cameras and the extended retention periods.

Impact of Economic Slowdown:

The impact of the ongoing downturn on the video surveillance market appears to be complex, with some segments experiencing growth due to increasing security concerns and technical progress whilst others are facing challenges because of a weak economy and supply chain problems.

For example, the global surveillance camera market is projected to grow from USD 48.5 billion in 2023 to USD 97.27 billion by 2031, showing a compound annual growth rateCAGR of 9.09% between 2024 and 2031. This growth can be attributed to factors such as the diversification of camera types, the development of resolution capacities and a wide range of applications for different end users, including public facilities, commercial infrastructures and residential areas.

In the presentation of the results of the investigation paradoxically, the majority of markets outside the Asian country closed last year with growth figures. It is clear that the global market for video surveillance grew by 13.2% in 2023, unless China is taken into account. The decline in China was mainly a result of restrictions on trade during the Covid pandemic that occurred in 2023. In 2023, China is expected to remain the world's largest regional market for video surveillance equipment, accounting for 44% of the global market. This is down from the previous year, when it accounted for 52% of the total.

Impact of Russia Ukraine war:

Global financial markets, which indirectly affect sectors such as video surveillance, have been seriously affected by the Russia Ukraine crisis. The crisis has caused significant turmoil on global finance markets, with increasing fears of recession in Europe as a result of the increase in gas prices which is important to both households and industry. The European Central Bank and other central banks have been working to manage the inflation caused by spiraling energy costs, which could impact various industries. In addition, the war has led to a corporate exodus from Russia with over 1,000 global companies, including some of the world's most famous brands, reducing their activities or leaving completely. This withdrawal is a significant shift in the economy, which could have repercussions for different sectors such as video surveillance by altering supply chains, market access and investment patterns. Although no direct impact is explicitly indicated on the market for video surveillance, it is likely that this market will also be affected by a broader disruption of economics resulting from the crisis in Ukraine, e.g. inflation, supply chain problems and changing business processes. Companies in the video surveillance sector may find themselves faced with challenges relating to rising costs, disruption of supply chains and market uncertainties which could affect both production and prices for VIS.

Market Segmentation:

By Component

  • Hardware

    • Camera

    • Monitors

    • Storage Devices

    • Others

  • Software

  • Services

In terms of components, in 2022 the hardware segment accounted for more than 71.1% of the market share. The strong demand for surveillance cameras, monitors and storage equipment is the main driver of this segment's growth. Surveillance cameras are crucial for monitoring a wide range of environments, including commercial buildings, apartments, education institutions and the general areas. Their capabilities, including features like night vision and motion sensing as well as facial recognition, continue to develop. The monitors are used to monitor real time feeds from surveillance cameras, which are usually located in control rooms or dedicated monitoring areas. In addition, in order to archive recorded footage taken by surveillance cameras and to facilitate applications such as crime investigation and suspect identification, storage devices are essential.


By System Type

  • Analog Video Surveillance Systems

  • IP Video Surveillance Systems

  • Hybrid Video Surveillance Systems

The IP video surveillance system segment accounted for more than 54.1% of the market in 2022, as far as systems type is concerned. In order to transmit and receive video signals over IP networks, IP video surveillance systems use digital technology, which provides enhanced scalability and flexibility compared to traditional analogue video surveillance systems.


By Vertical

  • Commercial

  • Retails Stores & Malls

  • Data Centers & Enterprise

  • Banking & Finance Building

  • Hospitality Centers

  • Warehouses

  • Others

  • Industrial

  • Residential

  • Government

  • Healthcare Buildings

  • Educational Buildings

  • Religious Buildings

  • Government Buildings

  • Others

In 2022, the Commercial segment accounted for more than 35.2% of worldwide revenues and represented a major part of the video surveillance market. Increasing demand for video surveillance systems in a wide range of business applications can be cited as the reason for this increasing share. Retail environments to deter theft, customer behaviour analysis, data centres and businesses to protect critical infrastructure, banking and finance buildings for crime prevention are among these applications.


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In 2022, the Asia Pacific region accounted for more than 37.1% of total revenue. The main countries that drive this regional dominance are China, Japan and India, which in turn increases the demand for video surveillance systems to improve safety and security of citizens. Integrating video surveillance as a key component for traffic control, crime prevention and other activities in these initiatives has been driven by the region's focus on smart city projects. In addition, increasing retail chains and SMEs in the Asia Pacific region are gradually adopting video surveillance solutions to protect their assets and deterrence of criminal activity. Moreover, the market growth in this region is driven by favourable government initiatives such as China's policies to promote adoption of video surveillance on public spaces like schools and hospitals.

In the coming years, as growth is projected to increase at a faster compound annual growth rate of 16.2% over the forecast period, the Middle East and Africa are set to offer lucrative market opportunities. To create robust and user-friendly functionality, including mobile video surveillance, key market players in the MEA are looking to expand their investments, product portfolio, solutions or strategic partnerships. As a result of the availability of more camera manufacturers and the decreased cost of video surveillance systems, market prospects in emerging areas exist.



North America

  • US

  • Canada

  • Mexico


  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America


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

Company Landscape Analysis


Recent Developments:

  • In June 2023, Hanwha Vision launched SolidEDGE, the first true serverless camera system with onboard SSD storage and embedded WAVE VMS server, providing efficient, scalable, and cost-effective surveillance solutions with remote access, multi-camera recording, and easy system management for organizations of all sizes. Available in two models with up to 2TB storage capacity, it allows easy customization and growth of surveillance systems based on specific needs.
  • Dahua Technology introduced AcuPick video search technology to help users find target videos more accurately and easily on May 23, 2023. The product is powered by front and backend AI innovations, which makes it easy to find quickly, easily operate at high accuracy, resulting in technological breakthrough for the industry.
  • In April 2023, Bosch Security Systems, LLC launched Intelligent Video Analytics Pro (IVA Pro), a cutting-edge AI-based software for their video surveillance cameras. Tailored for specific applications, IVA Pro delivers valuable insights to improve efficiency, security, and safety. In order to enhance building security, the software provides reliable detection, classification and tracking of objects by means of IVA Pro Building, IPV Pro Perimeter, IPV Pro Traffic and IPV Pro Intelligent Tracking.
Video Surveillance Market Report Scope:
Report Attributes Details
Market Size in 2023  US$ 63.97 Billion
Market Size by 2031  US$ 163.32 Billion
CAGR  CAGR 12.43% From 2024 to 2031
Base Year  2022
Forecast Period  2023-2030
Historical Data   2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key 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)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles 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.
Key Drivers •Growing concerns over public safety and security.
•Enhanced hardware capabilities of video cameras.
Market Restraints •Concerns about video data privacy and security.

Frequently Asked Questions

Ans: The Video Surveillance Market size was valued at USD 63.97 billion in 202.

The market has been segmented with respect to component, system and application.

The Video surveillance Market faced a fall behind Covid-19. The market has declined by 4-6% since 2020 when the epidemic began.

Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.


1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Impact Analysis

5.1 Impact of Russia-Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.10 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8.  Pest Analysis

9. Video Surveillance Market Segmentation, By Component

9.1 Introduction

9.2 Trend Analysis

9. 3 Hardware


9.3.2 Monitors

9.3.3 Storage Devices

9.3.4 Others

9.4 Software

9.5 Services

10. Video Surveillance Market Segmentation, By System Type

10.1 Introduction

10.2 Trend Analysis

10.3 Analog Video Surveillance Systems

10.4 IP Video Surveillance Systems

10.5 Hybrid Video Surveillance Systems

11. Video Surveillance Market Segmentation, By Vertical

11.1 Introduction

11.2 Trend Analysis

11.3 Commercial

11.3.1 Retails Stores & Malls

11.3.2 Data Centers & Enterprise

11.3.3 Banking & Finance Building

11.3.4 Hospitality Centers

11.3.5 Warehouses

11.3.6 Others

11.4 Industrial

11.5 Residential

11.6 Government

11.6.1 Healthcare Buildings

11.6.2 Educational Buildings

11.6.3 Religious Buildings

11.6.4 Government Buildings

11.6.5 Others

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Eastern Europe Poland Romania Hungary Turkey Rest of Eastern Europe

12.3.2 Western Europe Germany France UK Italy Spain Netherlands Switzerland Austria Rest of Western Europe

12.4 Asia-Pacific

12.4.1 China

12.4.2 India

12.4.3 Japan

12.4.4 South Korea

12.4.5 Vietnam

12.4.6 Singapore

12.4.7 Australia

12.4.8 Rest of Asia Pacific

12.5 The Middle East & Africa

12.5.1 Middle East UAE Egypt Saudi Arabia Qatar Rest of the Middle East

11.5.2 Africa Nigeria South Africa Rest of Africa

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Colombia

12.6.4 Rest of Latin America

13. Company Profiles

13.1 Panasonic System Networks

13.1.1 Company Overview

13.1.2 Financial

13.1.3 Products/ Services Offered

13.1.4 SWOT Analysis

13.1.5 The SNS View

13.2 Bosch Security Systems

13.2.1 Company Overview

13.2.2 Financial

13.2.3 Products/ Services Offered

13.2.4 SWOT Analysis

13.2.5 The SNS View

13.3 Axis Communication

13.3.1 Company Overview

13.3.2 Financial

13.3.3 Products/ Services Offered

13.3.4 SWOT Analysis

13.3.5 The SNS View

13.4 Honeywell Security Group

13.4.1 Company Overview

13.4.2 Financial

13.4.3 Products/ Services Offered

13.4.4 SWOT Analysis

13.4.5 The SNS View

13.5 NICE System

13.5.1 Company Overview

13.5.2 Financial

13.5.3 Products/ Services Offered

13.5.4 SWOT Analysis

13.5.5 The SNS View

13.6 Zhejiang Dahua Technology

13.6.1 Company Overview

13.6.2 Financial

13.6.3 Products/ Services Offered

13.6.4 SWOT Analysis

13.6.5 The SNS View

13.7 Hangzhou Hikvision Digital Technology

13.7.1 Company Overview

13.7.2 Financial

13.7.3 Products/ Services Offered

13.7.4 SWOT Analysis

13.7.5 The SNS View

13.8 FLIR Systems

13.8.1 Company Overview

13.8.2 Financial

13.8.3 Products/ Services Offered

13.8.4 SWOT Analysis

13.8.5 The SNS View

13.9 Hanwha Techwin

13.9.1 Company Overview

13.9.2 Financial

13.9.3 Products/ Services Offered

13.9.4 SWOT Analysis

13.9.5 The SNS View

13.10 Avigilon Corporation

13.10.1 Company Overview

13.10.2 Financial

13.10.3 Products/ Services Offered

13.10.4 SWOT Analysis

13.10.5 The SNS View

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

14.3.1 Industry News

14.3.2 Company News

14.3.3 Mergers & Acquisitions

15. Use Case and Best Practices

16. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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