Global Video Surveillance Market is valued at USD 50.59 Billion in 2020 and is expected to reach USD 104.38 Billion by 2028 with a CAGR of 10.9% over the forecast period.
Global Video Surveillance Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing need of safety in high-risk areas, surge in transition from analog surveillance to IP cameras, and integration of Internet-of-Things are some of the major factors driving the growth of the Global Video Surveillance Market.
Video surveillance is a digitized system which works in any environment and can uproot images and videos that can be squash, keep, and observe. Video surveillance systems use video cameras to record and monitor people, facilities, or places from a particular distance. Video surveillance is an immensely useful and economical method to ensure the security of people, buildings, and valuables.
The Covid-19 pandemic has also impacted the growth of the global video surveillance market owing to the disturbance in the supply chain network for the video surveillance equipments. For example; the market in 2020 experienced a decline from 2019. However, many companies like Hikvision (China) and Teledyne FLIR (US) observed better growth in 2020. However, the market has started recovering in the 2021 owing to the growing demand of thermal cameras in response to Covid-19.
The Global Video Surveillance market is segmented on the basis of offering, system, vertical and region & country level. On the basis of offering, the global video surveillance market is classified as hardware, software, service and others. Based on system, the global video surveillance market is segmented as analog video surveillance systems and IP video surveillance systems. Based on vertical, the global video surveillance market is segmented as commercial, infrastructure, military & defense, residential, public facility, industrial and others.
The regions covered in video surveillance market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of Global video surveillance is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Video Surveillance Market report covers prominent players like
On February 1st, 2022; Wasabi Technologies, the hot cloud storage company, partnered with Axis Communications, the industry leader in network video, to deliver cloud storage for AXIS Camera Station (ACS) VMS. This breakthrough solution combines the strength of Axis' industry-leading video technology and Wasabi's unlimited scalability and disruptively low, predictable cost to help organizations optimize their modern video surveillance deployments and more effectively manage evolving high-definition environments and longer retention periods.
On February 1st, 2022; Taylor County commissioners approved purchasing video surveillance equipment for elections to comply with a provision in the election code for counties with populations of 100,000 or more. Counties with a population of 100,000 or more must implement a video surveillance system that retains a record of all areas containing voted ballots. Video from the system must be made available to the public by a livestream. The video is considered an election record and must be maintained until the end of a calendar year in which an election is held, or until an election contest filed in a county has been resolved, whichever is later.
On January 28th, 2022; Hikvision, a world-leading manufacturer and supplier of security products and solutions, continues to build on its popular line of AcuSense surveillance cameras with the introduction of the new AcuSense Audio and Strobe Light Camera Series. The new camera series combines advanced machine learning with integral strobe lighting and audio warnings tin a single unit providing an effective autonomous solution for deterring intruders. Hikvision AcuSense Audio and Strobe Light Cameras are available in fixed turret, fixed bullet, and speed dome configurations with resolutions ranging from 4 MP to 8 MP.
The modern video cameras are offered with 4K resolution capabilities and 4K IP video cameras have 27 times resolution of conventional analog cameras, nine times that of standard HD camera and four times that of Full HD camera. Higher resolution cameras captures minor and finer details of images, 4K enabled video cameras offer a more detailed image which allows for better detail. Additionally, modern cameras offer variable zoom lenses to offer a closer field of view. Now a days many cameras offer built-in microphone to stream and record audio during video recording. Many manufacturers have also adopted different hardware technologies to enhance the low-light performance of video cameras. In addition, increased smart city initiatives are also supplementing the demand for video surveillance and lead to increase the adoption of artificial intelligence for AI surveillance, such as smart citing, facial recognition systems and many others. The rising development of facial recognition application and smart initiatives by several regions would also increase the market growth.
However, privacy and security concerns regarding video data may restrain the market growth. Despite this, growing demand of thermal cameras in response to Covid-19 may increase opportunity of the video surveillance market. The outbreak of Covid-19 increased the demand for contactless solutions such as face recognition systems, thermal camera body temperature screening, and mask detection algorithm which are being widely used in public hotspots such as airports, schools, colleges, government agencies, police stations, warehouses, distribution centers, and private businesses are also witnessing high demand, this may offer more opportunities for the further growth of the market.
Asia Pacific is expected to capture the largest market share of the global video surveillance market due to increasing population density in major cities and investments in smart city projects in this region. Additionally, the rising number of small businesses, retail chains, residential apartments, and hospitality businesses, as well as the initiative taken by the government in different countries to install video surveillance cameras in many public places, such as cities, schools, colleges, religious places, and airports area also fostering the market growth in this region. The Chinese government is taking initiatives to encourage the usage of such surveillance equipment in many sectors. For example; in 2017, the government announced the completion of the ‘Skynet’ video surveillance program. Furthermore, increasing population in developing countries such as Japan, China and India, coupled with lower costs of video surveillance equipment, is also generating significant growth for video surveillance market. Additionally, presence of a number of well-established players which offers innovative and advanced solutions in the region, such as Dahua Technology (China), Panasonic i-PRO Sensing Solutions (Japan), Hanwha Techwin (South Korea), Hikvision (China), and Uniview (China), is also supplementing the market growth.
North America is expected to show a positive growth in the global video surveillance market due to increasing adoption of this system in many countries coupled with high adoption of facial surveillance. The combination of the video surveillance solutions in the transportation industry is one of the major trends observed in this region. To increase the security for the Chicago public transportation system, the second-largest city in the United States with 1.7 million daily traffic, the government relied on Sentry360 to establish a unified surveillance System. The increasing adoption of facial surveillance is another major factor which drives the market. Detroit and Chicago embraced facial surveillance, and Detroit's million-dollar system has the capacity to scan live video from cameras located at businesses, health clinics, schools, and apartment buildings, which can help the police. Additionally, the increased spending on military and defense sectors has allowed these bodies to conduct R&D activities, resulting in new innovations, which allow them to better manage the security and safety of its people and the borders. For example; in August 2019, the US military conducted wide-area surveillance tests across six Midwest states using experimental high-altitude balloons that carried hi-tech radars designed to simultaneously track many vehicles.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2020:||USD 50.59 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 104.38 Billion|
|Tables, Charts & Figures:||175|
|Video Surveillance Companies||Hikvision, Dahua Technology, Axis Communications, Bosch Security and Safety Systems, Hanwha Techwin, Avigilon, Teledyne FLIR, Honeywell International, Panasonic i-PRO Sensing Solutions, Pelco, Uniview, Agent Video Intelligence, CP PLUS, Genetec, Huawei Technologies, NEC, NICE Systems, Qognify, Tiandy Technologies, VIVOTEK, MOBOTIX, Morphean, Verkada, Camcloud, and Ivideon and others.|
|Segments Covered||By Offering, By System, By Vertical|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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