Philippines Video Surveillance Market

Philippines Video Surveillance Market Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2023-2029: the rising usage of artificial intelligence and software analytics in video monitoring is one of the major factors driving the growth of the video surveillance market over the forecast period.

The demand for Philippines Video Surveillance market, in terms of revenue, was worth of US$ 9.34 million in 2023 and is expected to reach US$ 17.76 million in 2030, growing at a CAGR of 7.4% from 2024 to 2030.

 Video surveillance is a remote eye for management and the security forces which involves a network of cameras, monitors, and recorders. Cameras can be both analog or digital with various features to explore, such as resolution, frame rate, color type, and more. Whether used inside or outside the building, it operates 24/7, designed only for recording movement when necessary. It involves the act of monitoring a scene and looking for specific behaviors that are improper or that may indicate the emergence or existence of improper behavior. The prominent use of video surveillance is to enhance safety and security from criminal attacks. Video surveillance provides security personnel with advance notice of breaches in security, including hostile and terrorist acts, and is part of the plan to protect personnel and assets. Developing trends in the video surveillance industry, include advanced 360-degree camera technology, utilization of Viz safe platform services, and enhanced camera capabilities for video management systems.

During the outbreak of the COVID-19 pandemic, the video surveillance market has observed a negative impact owing to a reduction in demand and sales in the Philippines. It also affected the cross-border and domestic transportation and logistics of video surveillance systems, such as system-on-chip devices and CMOS sensors. However, the market has observed recovery and growth during a later phase of the pandemic.

Furthermore, rising concern relating to public safety and security is driving the expansion of the video surveillance market as video surveillance helps to protect citizens, organizations, and communities from being in danger and guarding their well-being. According to the Philippine news agency, nearly 105,568 crime incidents occurred in the second half of 2022. Thus, to minimize the rate of criminal activities video surveillance serves as a great option. In addition, video surveillance gives businesses an effective way to prevent and combat crime while securing the premises. They help track people’s presence and activity within the facility, safeguard clients, and authenticate employees while also limiting liability. Therefore, rising concerns related to public safety and security are driving the expansion of the video surveillance market.

Additionally, the rising usage of artificial intelligence and software analytics in video monitoring is one of the major factors driving the growth of the video surveillance market over the forecast period. Artificial intelligence for video surveillance utilizes computer software programs that analyze the audio and images from video surveillance cameras to recognize humans, vehicles, objects, attributes, and events. It uses comprehensive and complex algorithms to analyze recorded streams. Review camera images pixel by pixel, with almost nothing lost. Intelligently tailor to satisfy particular security or business requirements, and analytics filters. As a result, all these factors are expected to propel the video surveillance market during the forecast period.

For a long time, it appeared that the future of the video surveillance market would be bright in the coming years. Several companies are predicted to fulfill go-to-market strategies, mergers and acquisitions, and new product launches to remain competitive and meet the increasing demand for video surveillance markets. Axis Communications, Uniview, NEC, Panasonic i-PRO Sensing Solutions, Honeywell International, and many other companies are hugely contributing to the Philippines' video surveillance market. For example, in July 2021 Axis Communications announced the AXIS Q6078-E PTZ Camera, which includes UHD 4K resolution and a 20x zoom for exceptional video quality and wide area coverage. It features Axis Zipstream technology with H.264 and H.265 support to maintain all vital forensic details while drastically decreasing bandwidth and storage requirements. Furthermore, in 2019, Honeywell announced the release of 30 Series IP Cameras, a new suite of video cameras that strengthens building safety and security through advanced analytics and secure channel encryption. As a result, market demand for Philippine video surveillance is increasing.

Moreover, BrandEssence Research Analyst suggests that the market players need to watch out for cost reduction in the implementation and maintenance of video surveillance to gather a customer base from a low- or middle-income population pool. Also, to capture the competitive nature in the marketplace tier-2 and other emerging market players should focus on the adoption of new technologies and promotional strategies.

Philippines Video Surveillance Market Segmentation: –

By Offering

• Hardware
  • Camera
  • Storage
• Software
  • Video Analytics
  • Video Management Software
• Service

By System

• CCTV
• Analog Video Surveillance Systems
• IP Video Surveillance Systems
• Hybrid Video Surveillance Systems
• Cloud Cam

 By Vertical

• Commercial
• Government & Triflation
• Industrial
• Residential
• Other

Key players of Philippines Video Surveillance Market

• Dahua Technology Ltd
• Vicon Industries
• FLIR Systems
• Vanderbilt Industries
• Ava Security
• Hmrsolutions

The surge in criminal and terrorist activities in the country is one of the major driving factors for the Philippines’ video surveillance market.

The Philippines is well-known for social issues including terrorism and violent extremism. These are the severe and evolving threats to international peace, security, human rights, and sustainable development, inflicting unimaginable suffering on victims, families, and communities in the country. In the Global Terrorism Index 2022, the Philippines ranks 16th place in the list of countries that are most affected by terrorism. Not only terrorism the criminal activities are also among the major threats to the country. However, the uses of video surveillance have potentially contributed to a reduction in criminal and terrorist activities in the Philippines. For instance, the Indonesian, Malaysian, and Philippines militaries continued coordinated patrols in the Sulu and Sulawesi Seas to deter and prevent kidnapping and terrorist transit in their adjoining exclusive economic zones.

Along with this, according to the Philippine National Police (PNP), the efficiency rating in solving crimes has improved with CCTV cameras in the Philippines. In addition, the study assessed by Barangay officials about the level of effectiveness of installed CCTV in Bagong Caloocan City in the Philippines, the theft, physical assault, and robbery were among the most common crimes reported to local authorities. As per the study, using CCTV cameras is effective in terms of decreasing crime and modifying behavior. Thus, with such scenarios, the demand for video surveillance systems in the Philippines has increased and is expected to support market growth at a significant pace.

Increasing government initiatives for the adoption of video surveillance systems is boosting the market growth.

Video surveillance is known as a valuable tool for minimizing criminal and terrorist activities in the Philippines, as it can help law enforcement detect, deter, and respond to criminal and terrorist activities in a more effective and efficient manner. Thus, with the huge history of terrorism & violent extremism, and criminal activities the Philippines government initiatives to support video surveillance systems.

For instance, in 2021, the government of the Philippines continued to invest in video surveillance technology as part of its broader efforts to combat crime and terrorism. The government has installed closed-circuit television (CCTV) cameras in public areas such as airports, seaports, and bus terminals, as well as in some private establishments. These cameras are monitored by law enforcement agencies and can be used to detect and respond to criminal and terrorist activities in real-time.

Likewise, the government of Quezon City in the Philippines has partnered with the Department of the Interior and Local Government for the installation of 1,500 closed-circuit television (CCTV) cameras as part of the DILG’s Safe Philippines project. In addition, the Philippine National Police (PNP) has also used video surveillance as part of its law enforcement operations, particularly in high-crime areas. The PNP has deployed mobile CCTV units to patrol areas and monitor crowds during public events, such as protests and demonstrations.

Moreover, the government of the Philippines has implemented a national CCTV project called "Safe Philippines" aimed at improving public safety and security. The project aims to install a network of CCTV cameras in public places across the country, including major cities, highways, and public transportation systems.

Thus, with an increase in government supports the demand for video surveillance systems in the Philippines has increased, consequently, it is surging the growth of the market in the country.

Intensifying demand for video surveillance systems from end-use industries has accelerate video surveillance market growth in the Philippines.

The adoption of video surveillance among numerous companies in the Philippines has been increasing in recent years with the increasing awareness about CCTV (closed-circuit television) technology which is widely used in various industries, including retail, banking, hospitality, and manufacturing.

One of the prominent reasons behind the high adoption of video surveillance among end-use industries in the Philippines is the growing concern about security threats. Crime rates in the Philippines have been a major concern for both the government and private companies, and video surveillance provides an effective way to deter criminal activity and identify perpetrators. In addition, advancements in technology have made video surveillance systems more affordable and easier to install and maintain, which gained attention from SMEs. The rise of cloud-based surveillance solutions has also made it possible for companies to monitor their premises remotely, which can be particularly beneficial for multi-location businesses. The use of video surveillance in the workplace is also becoming more common in the Philippines. Companies are using it to monitor employee productivity, identify safety hazards, and prevent workplace accidents.

Overall, the adoption of video surveillance among several companies in the Philippines is expected to grow at a noteworthy pace as companies seek to enhance their security and operational efficiency.

Key Benefits of Philippines Video Surveillance Market Report–

• Philippines Video Surveillance market report covers in-depth historical and forecasts analysis.
• Philippines Video Surveillance market research report provides detailed information about market introduction, market summary, market revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Philippines Video Surveillance market report helps to identify opportunities in the marketplace.
• Philippines Video Surveillance market report covers extensive analysis of emerging trends and competitive landscape.

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