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).

Global Video Surveillance Market Size, Share, Growth Analysis, By Offering(Hardware, Software), By System(Analog Video Surveillance Systems, IP Video Surveillance Systems) - Industry Forecast 2024-2031

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

Global Video Surveillance Market Regional Insights

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.

Global Video Surveillance Market Report Snapshots

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Global Video Surveillance Market size was valued at USD 48.20 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).

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)'

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.

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.

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Global Video Surveillance Market Size, Share, Growth Analysis, By Offering(Hardware, Software), By System(Analog Video Surveillance Systems, IP Video Surveillance Systems) - Industry Forecast 2024-2031

Global Video Surveillance Market Regional Insights

Global Video Surveillance Market Report Snapshots

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