USD 44.10 billion
Report ID: SQMIG45A2067 | Region: Global | Published Date: May, 2023 | Pages: 157 | Tables: 63 | Figures: 75
Global 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).
The global video surveillance market is expected to witness notable growth owing to the increasing need for security solutions and advancements in technology. The market is expected to experience significant growth in the Asia-Pacific region, particularly in China and India, due to the increasing adoption of video surveillance systems in various sectors. The major trends in the video surveillance market is the increasing adoption of intelligent security systems. Video analytics software can be used to detect suspicious behavior and events, and alert security personnel in real-time.
The adoption of cloud-based video surveillance solutions is also increasing, as it allows for remote monitoring and management of video surveillance systems. The use of video surveillance systems has also raised concerns over privacy violations and civil liberties. The need for strict privacy regulations and cyber-security measures to protect video surveillance systems from cyber-attacks is becoming increasingly important. The video surveillance market is expected to continue growing due to the increasing need for security solutions and advancements in technology. However, the market will also face challenges related to privacy concerns and the need for cyber-security measures. The adoption of intelligent security systems and the growing trend of smart cities and homes are expected to create new opportunities in the market.
Global Market Size
USD 44.10 billion
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The global video surveillance market is segmented on the basis of offering, system, and region. In terms of offering, the market is segmented into hardware, software, and service. Based on system, the market is segmented into analog video surveillance systems, IP video surveillance systems, hybrid Video Surveillance Systems. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Video surveillance Market Analysis by Offering
The hardware segment includes surveillance cameras, which can be further categorized into analog cameras, IP cameras, and wireless cameras. Analog cameras are the traditional cameras that capture and transmit video signals via coaxial cables. IP cameras are digital cameras that transmit video signals over an IP network. Wireless cameras are connected to a wireless network and transmit video signals wirelessly. Other hardware components include recorders, such as digital video recorders (DVRs) and network video recorders (NVRs), and storage devices, such as hard disk drives (HDDs) and solid-state drives (SSDs). The software segment includes video management software, which enables the management and control of video surveillance systems, and video analytics software, which analyzes video data to detect and alert users of suspicious behavior and events. Other software solutions include facial recognition software, license plate recognition software, and object detection software. The services segment includes installation and maintenance services, which are provided by vendors to ensure the proper installation and functioning of video surveillance systems. Consulting services are provided to help customers choose the right video surveillance solutions for their specific needs. Other professional services include system integration and customization services.
Global Video surveillance Market Analysis by System
Analog video surveillance systems consist of analog cameras, DVRs, and other analog components. Analog cameras capture and transmit video signals via coaxial cables to a DVR, which records and stores the video footage. Analog video surveillance systems are typically used in small businesses and residential settings due to their low cost and reliability. IP video surveillance systems consist of IP cameras, NVRs, and other digital components. IP cameras capture and transmit digital video signals over an IP network to an NVR, which records and stores the video footage. IP video surveillance systems offer higher image quality and advanced features, such as remote viewing and video analytics. IP video surveillance systems are typically used in large businesses, government facilities, and other high-security settings. Hybrid video surveillance systems combine analog and IP cameras and offer a cost-effective way to upgrade existing analog systems. Hybrid systems can also integrate with other security systems, such as access control and fire alarms. Hybrid video surveillance systems are typically used in medium-sized businesses and organizations that want to upgrade their existing video surveillance systems without incurring high costs.
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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.
North America in the video surveillance market is also expected to experience significant growth in the coming years due to increasing external and internal human threats. Many cities in the United States have already adopted advanced surveillance systems, such as the deployment of facial recognition cameras by the local police to identify and arrest protestors during the Baltimore riots.
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Global Video surveillance Market Drivers
Emergence of AI Surveillance Technology Would Ensure to Drive Growth
Growing Adoption of Body-worn Cameras to Drive Growth
Global Video surveillance Market Restraints
Privacy and Security Concerns Regarding Video Data
High Installation and Maintenance Costs
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The global video surveillance market is highly competitive, with several key players dominating the market. These companies focus on product innovation, strategic partnerships, and mergers and acquisitions to maintain their market position and expand their product portfolios. The competitive landscape of the global video surveillance market is expected to remain intense, with key players focusing on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge in the market.
Top Player’s Company Profiles in Global Video surveillance Market
Global Video surveillance Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global video surveillance market analysis, the increasing security concerns, advancements in technology, and growing demand for surveillance systems in emerging economies are likely to augment growth. Here's a detailed analysis of the market. Analog video surveillance systems accounted for the largest share of the market in 2020, due to their low cost and ease of installation. The IP video surveillance systems segment is expected to witness significant growth during the forecast period, owing to their ability to provide high-definition video and better scalability. The video surveillance market is expected to continue its growth trajectory in the coming years, driven by increasing security concerns and advancements in technology. The market is highly competitive, with several players operating in the market, and is expected to witness significant growth in emerging economies such as Asia Pacific.
|Market size value in 2021||USD 44.10 billion|
|Market size value in 2030||USD 48.20 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Video Surveillance Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Video Surveillance Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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