Video Surveillance Market Size was valued at USD 53.4 billion in 2023. The Video Surveillance Market industry is projected to grow from USD 56.4 Billion in 2024 to USD 123.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.10% during the forecast period (2024 - 2032).
Smart cities are becoming more popular, and demand for biometric applications, video management, and the internet of things is also rising are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Video surveillance systems, which incorporate artificial intelligence software, are becoming increasingly crucial for ensuring security and safety while also studying trends and patterns. The application assists in the analysis of audio and video data from video cameras in order to identify individuals, cars, objects, and events. Furthermore, AI-powered video analytics can handle tasks like real-time monitoring, people counting, and automated license plate identification, all while providing enterprises with non-security-related data.
In the retail industry, for example, store owners can detect shoplifters, and information security officials may act in real-time by using surveillance cameras with analytics. Aside from retail outlets, advanced video monitoring is being utilized to detect unusual activity in industrial plants, enterprises, warehouses, and banks. As a result, the growing demand for intelligent monitoring is fueling demand for software analytics and artificial intelligence, which is boosting video surveillance market growth.
The Video Surveillance Market segmentation, based on component, includes hardware, software, and service. During the forecast period, the video surveillance hardware market is expected to account for the greatest share. The hardware market is attributed to the fact that hardware accounts for more than 60% of the total cost of a video surveillance system. As a result of rising security concerns across multiple industries, there is also an increase in the use of cameras deployed globally.
The industry shift toward IP cameras has resulted in numerous hardware-based innovations that improve low-light performance, object tracking, and in-built security. Technological advancements have resulted in highly specialised surveillance cameras that can be programmed to zoom-in scan items such as hazardous equipment. These factors are driving the video surveillance hardware market.
The Video Surveillance Market data has been bifurcated by application into Residential, Commercial, Defense and Infrastructure. Over the forecast period, the commercial segment is expected to experience significantly faster revenue growth. The segment's revenue growth is being driven by the growing importance of video surveillance systems in the commercial field as a result of increased security concerns across applications such as retail, companies, banks, and financial institutes.
Security breaches such as inventory loss, robbery, illegal access, and other criminal activities increase demand for commercial security solutions. Because of the rapid growth of small businesses, retail establishments, and shopping malls in recent years, the demand for surveillance systems has increased. Retailers use surveillance systems to analyse consumer behaviour throughout the store, improve store management, and detect loitering.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Due to rapid economic growth, in North A merica. The number of road rage incidents, crimes on the road, crimes against public property, and public security concerns are on the rise. In the near future, this is expected to increase demand for video surveillance systems.
Further, the major countries studiedin the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe Video Surveillance Market accounts for the second-largest market share. This is due to the region's robust network infrastructure and a large proportion of cloud service usage by organisations based in the region. Further, the Germany Video Surveillance Market held the largest market share, and the UK Video Surveillance Market was the fastest growing market in the European region
The Asia-Pacific Video Surveillance Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the region's strong network infrastructure and a high proportion of cloud service adoption. These elements contribute to the global market's expansion. Moreover, China Video Surveillance Market held the largest market share, and the India Video Surveillance Market was the fastest growing market in the Asia-Pacific region
To expand their product ranges, major market players are investing heavily in R&D, which will accelerate the video surveillance industry's expansion. In addition, market participants are launching new products, entering into contracts, acquiring companies, increasing investments, and working with other organizations, among other significant market developments, in an effort to expand their global footprint. In order to grow and survive in a market that is becoming more and more competitive, competitors in the video surveillance sector must provide affordable products.
Making products locally in order to cut operational costs is one of the main business tactics used by producers in the global video surveillance industry to benefit customers and grow the market sector. Some of the most important advantages for medicine in recent years have come from the video surveillance business. Axis Communications AB (Sweden), Bosch Security Systems Inc. (U.S.), Ltd., FLIR Systems Inc. (U.S.), Zhejiang Dahua Technology Co., Ltd. (China), Hangzhou Hikvision Digital Technology Co., and others are prominent players in the video surveillance market (China),
Robert Bosch, styled as BOSCH, is a German multinational engineering and technology firm located in Gerlingen, Germany. Robert Bosch established the company in Stuttgart in 1886. Robert Bosch Stiftung, a charity organization, owns 92% of Bosch. Despite holding the vast majority of shares, the charity has no voting rights and is active in health and social causes unrelated to Bosch's business. In July 2021, Bosch Security Systems Inc. will introduce the FLEXIDOME panoramic 5100i surveillance camera. This device is available in two versions: outdoor and indoor. These cameras also have a fish-eye lens and a video resolution of 6 or 12 megapixels. It also features a built-in microphone for audio recording.
Hanwha Techwin, formerly known as Samsung Techwin, is a video surveillance firm. It is a Hanwha Group subsidiary. The company has 1,822 employees and is based in South Korea. In 2020, its total sales were 529.8 billion South Korean won. Techwin also produced and commercialized automation, aeronautics, and weapons technology items prior to its acquisition by Hanwha. Hanwha Precision Machinery, Hanwha Aerospace, and Hanwha Land Systems have subsequently been spun off as separate Hanwha subsidiaries In May 2921, Hanwha Techwin Co, Ltd unveiled three models of explosion-proof cameras.
In high-risk industrial sites, three new explosion-proof cameras guarantee safe operations by preventing explosions brought on by internal or external sources. A large industrial site can be monitored from a wide area thanks to the 180-degree tilting and 360-degree panning capabilities of the TNU-6322/6322ER versions. Swing, Group, Tour, and AutoRun modes allow for monitoring in various directions.
Axis Communications AB (Sweden)
Panasonic System Networks Co. Ltd. (Japan)
Bosch Security Systems Inc. (US)
NICE System Ltd. (Israel)
FLIR Systems Inc. (US)
Zhejiang Dahua Technology Co. Ltd. (China)
Hanwha Techwin Co. Ltd. (South Korea)
Pelco (US)
Hangzhou Hikvision Digital Technology Co. Ltd. (China)
Avigilon Corporation (Canada), among others
In August 2021, MOBOTIX AG and KONICA MINOLTA Inc. teamed together to employ FORXAI technology from KONICA, which is based on image AI (deep learning) and an imaging IoT platform and enables users and partners to hasten the digital transformation of society.
In April 2021, VSBLTY Groupe Technologies Corp., a maker of security and retail analytics technology products, and RADARApp, a provider of Smart City Solutions, announced the launch of the world's first WiFi6-based surveillance network employing intelligent cameras.
In April 2018, Pelco worked with IBM Corporation to create 'Pelco Analytics powered by IBM'. The goal of this collaboration is to integrate IBM's deep learning analytics solutions with Pelco's video management system (VMS). Strategic alliances are likely to encourage market participants to exploit new technology, gain access to new customers, expand business across geographic markets, and broaden product portfolios.
Hardware
Software
Services
Camera
Storage System
Residential
Commercial
Defense
Infrastructure
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 53.4 billion |
| Market Size 2024 | USD 56.4 billion |
| Market Size 2032 | USD 123.1 billion |
| Compound Annual Growth Rate (CAGR) | 11.10% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2021 & 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Hardware, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Zhejiang Dahua Technology Co., Ltd. (China), Axis Communications AB (Sweden), Hangzhou Hikvision Digital Technology Co., Bosch Security Systems Inc. (U.S.), Ltd. (China), FLIR Systems Inc. (U.S.) |
| Key Market Opportunities | To fulfill the growing security need for public safety, video surveillance is becoming more and more popular. |
| Key Market Dynamics | Smart cities are becoming more popular, and demand for biometric applications, video management, and the internet of things is also rising. |
Video Surveillance Market Highlights:
Frequently Asked Questions (FAQ) :
The Video Surveillance Market size was valued at USD 53.4 Billion in 2023.
The global market is projected to grow at a CAGR of 11.10% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Zhejiang Dahua Technology Co., Ltd. (China), Axis Communications AB (Sweden), Hangzhou Hikvision Digital Technology Co., Bosch Security Systems Inc. (U.S.), Ltd. (China), FLIR Systems Inc. (U.S.)
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Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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