Global Video Surveillance Market Research Report (2024–2031)

Executive Summary

The global video surveillance market is poised for significant growth, projected to expand from USD 52.68 billion in 2023 to USD 107.31 billion by 2031, reflecting a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period . This surge is driven by escalating security concerns, technological advancements, and the proliferation of smart city initiatives.

Market Drivers

 Rising Crime Rates: The increasing incidence of criminal activities globally necessitates enhanced surveillance measures to ensure public safety.

 Technological Advancements: Integration of Artificial Intelligence (AI) and Internet of Things (IoT) in surveillance systems has revolutionized real-time monitoring and threat detection capabilities.

 Smart City Initiatives: Governments worldwide are investing in smart city projects, incorporating advanced surveillance systems to monitor urban environments effectively.

Market Restraints

 Privacy Concerns: The widespread deployment of surveillance systems raises significant privacy issues, leading to public apprehension and regulatory challenges.

 High Installation Costs: The initial investment required for setting up comprehensive surveillance infrastructure can be prohibitive, especially for small and medium-sized enterprises.

Market Segmentation

By Offering:

 Hardware: Includes cameras, storage devices, and monitors. The hardware segment dominates the market due to the essential nature of these components in surveillance systems.

 Software: Comprises video analytics and video management software, facilitating intelligent surveillance operations.

By System:

 Analog Video Surveillance Systems: Traditional systems with limited scalability and integration capabilities.

 IP Video Surveillance Systems: Modern systems offering high-resolution imaging and remote accessibility, contributing to their growing adoption.

By Vertical:

 Commercial: Retail stores, corporate offices, and entertainment venues utilize surveillance for security and operational efficiency.

 Infrastructure: Critical infrastructures like transportation hubs and public utilities deploy surveillance systems to safeguard assets and ensure public safety.

Regional Insights

 Asia-Pacific: This region leads the market, with countries like China, India, and Japan investing heavily in surveillance infrastructure to bolster security measures.

 North America: The market is driven by technological innovations and stringent regulatory standards mandating surveillance in various sectors.

 Europe: Adoption is influenced by increasing security concerns and the implementation of smart city projects across the continent.

Key Market Players

 Hangzhou Hikvision Digital Technology Co., Ltd. (China)

 Zhejiang Dahua Technology Co., Ltd. (China)

 Bosch Security Systems, LLC (Germany)

 Hanwha Vision Co., Ltd. (South Korea)

 Teledyne Technologies Incorporated (US)

 Honeywell International Inc. (US)

 I-PRO Co., Ltd. (Japan)

 Huawei Technologies Co., Ltd. (China)

 Zhejiang Uniview Technologies Co., Ltd. (China)

 CP PLUS International (India)

Emerging Trends

 Cloud-Based Surveillance: The shift towards cloud solutions offers scalability, remote access, and cost-effectiveness, making it a preferred choice for many organizations.

 AI and Video Analytics: Advanced analytics enable real-time threat detection, facial recognition, and behavioral analysis, enhancing proactive security measures.

 Integration with IoT: Surveillance systems are increasingly integrated with IoT devices, facilitating comprehensive monitoring and automation.

Global Video Surveillance Market Research Report (2024–2031)