Product ID: SQMIG45A2132
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 Insights
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).
The demand for security in both public and private settings, which includes places like schools, airports, businesses, and households, is the main driver of this increase. Intelligent video surveillance systems are required by the emergence of smart cities to keep an eye on a variety of activities. Because of their scalability and affordability, cloud-based solutions are becoming more popular. Additionally, developments like Artificial Intelligence (AI) and deep learning are improving the efficacy of monitoring, which will greatly aid the industry's growth in the coming years. The video surveillance market will expand significantly in the Asia Pacific area between 2023 and 2030. A number of variables, including rising security concerns, regional economic growth, and infrastructural construction, might be blamed for this surge. For instance, Infinova, a leading provider of video surveillance systems, won a sizable contract in April 2023 to offer video surveillance solutions for more than 60 airports in India. This contract calls for the installation of more than 6,000 cameras, including flexible high-speed PTZ domes, hardy vandal-proof minidomes, and flexible day/night fixed cameras. These cameras are located in key airport locations, such as the check-in sections, baggage screening areas, and boarding gates. These cameras are anticipated to improve airport operations beyond enhancing security by keeping track of passenger and cargo movement.
Businesses all over the world are strategically investing in video surveillance systems with AI capabilities. In order to automate processes like object and facial identification and free up human operators to concentrate on more important security duties, AI-driven video analytics are crucial. Security measures are greatly improved by AI's ability to detect undetectable dangers like illegal presence or abandoned objects. AI-driven systems also provide scalability by effectively processing enormous volumes of video data, making them appropriate for installation in large-scale settings like stadiums and airports. Adopting AI ensures adaptability to developing technologies, enabling firms to uphold high security standards and maintain leadership in safety precautions.
Video surveillance systems are being transformed into priceless commercial solutions by the use of advanced analytics. The identification of intrusions and the monitoring of traffic flow are made possible by AI-driven object detection and tracking. Behavioral analytics track the movements of people or things, identifying odd behavior or keeping an eye on how customers and employees behave. Heatmaps offer insights into active video regions, assisting in detecting high-traffic zones or potential criminal hotspots, while face recognition technology increases security by confirming access or following persons. The scene analysis capabilities of AI can recognize items, people, and activities, and it can be used for a variety of tasks, such as reconstructing crime scenes and gathering evidence for investigations. The introduction of 5G technology has brought about important advantages for video monitoring. Real-time high-definition video streams may be transmitted thanks to 5G's greater bandwidth and lower latency, which is essential for live monitoring and video analytics. Numerous devices may be connected to it thanks to its broad range of connectivity options, which makes applications like traffic control and crowd surveillance possible. Stronger encryption preserves video data while greater mobility enables flexible camera placement, which is beneficial for event monitoring and public safety in particular. Additionally, 5G's affordability encourages the deployment of more cameras and sensors, which ultimately lowers overall monitoring costs.
Global Video Surveillance Market Report Snapshots
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