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The Video Surveillance Market size is estimated to grow by USD 37 billion at a CAGR of 10.71% between 2023 and 2028. Market expansion hinges on numerous factors, foremost among them the imperative to combat criminal activities and thwart terrorist threats. Video surveillance emerges as a pivotal tool in this endeavor, particularly in the context of smart cities, where it serves as a linchpin for ensuring public safety and security. Moreover, the commercial sector increasingly recognizes the multifaceted benefits of leveraging it not only for security purposes but also for enhancing operational efficiency and customer experience. As advancements in home security systems continue to refine capabilities, its applicability extends beyond traditional security functions to encompass a wider array of commercial applications. This evolution underscores the indispensable role of video surveillance in modern urban landscapes and commercial environments, driving its adoption and propelling market growth.
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In the contemporary business landscape, the market has gained significant traction due to the increasing emphasis on Security concerns in smart city initiatives. Businesses across various sectors, including healthcare organizations, corporate houses, educational institutes, and transportation infrastructure, are integrating AI-powered video surveillance systems for advanced business intelligence and real-time access. Advancements in technology, such as machine learning and computer vision, enable Object recognition and Potential threat detection, enhancing the security applications of these systems. Regulatory requirements mandate the use of IP security cameras for Wireless surveillance, replacing the outdated Analog format.
This video surveillance market forecast report extensively covers market segmentation by product (hardware, software, and services), end-user (public, commercial, and residential), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
The market share growth of the hardware segment will be significant during the forecast period. The market is driven by security concerns and smart city initiatives, with businesses seeking to enhance security and improve operational efficiency through video data. Advancements in technology, such as AI-powered video, remote monitoring, and real-time access, enable intelligent security solutions that offer object recognition, behavior analysis, and advanced video analytics. Regulatory requirements and privacy regulations necessitate the integration of access control, human operators, and machine learning to mitigate potential threats and prevent data breaches.
The hardware segment was valued at USD 17.57 billion in 2018. Established manufacturers provide IP cameras, network video recorders, Ethernet cables, monitors, wireless routers and modems for high-capacity storage and efficient bandwidth usage. Key industries include enterprises, data centers, banking facilities, hospitality centers, retail establishments, warehouses, communication networks, and healthcare organizations. Smart devices and mobile video surveillance expand the market's reach, while central control systems ensure seamless integration and management.
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APAC is estimated to contribute 48% to the growth of the market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market is experiencing significant growth in the APAC region, driven by the need for security applications in various sectors. Urbanization and industrialization in countries like China and India have led to the installation of public surveillance systems at borders, transportation infrastructure, corporate houses, educational institutes, and buildings. IP surveillance systems using IP security cameras and network cameras have replaced analog formats due to their wireless capabilities and advanced features. Developed countries such as Japan, South Korea, and Australia have a mature end-user base for video surveillance due to their technological maturity and frameworks for public safety. In contrast, emerging economies like India, China, Vietnam, and Indonesia have increasing demand due to rising per capita incomes and the need for safety.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Genetec Inc.: The company offers video surveillance such as E-24A, and ENR-1408.
The video surveillance market growth insights report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses various industries, including Departmental stores, Food chains, Malls, Factories, and Workshops. Security applications extend beyond borders, ensuring the safety of critical infrastructure and combating Fugitives. Human operators and AI-powered systems work in tandem to provide effective Access control and Anti-corruption program monitoring. In conclusion, the market continues to evolve, driven by technological advancements and regulatory requirements, providing comprehensive security solutions for various industries.
The need to mitigate criminal activities and terrorist attacks is the key factor notably driving market growth. The Video Surveillance Market is experiencing significant growth due to escalating security concerns and smart city initiatives. Businesses and organizations are integrating advanced technology, such as AI-powered video and machine learning, for remote monitoring and real-time access. Regulatory requirements and privacy regulations necessitate the use of access control and human operators. Potential threats, including terrorist attacks and antisocial activities, require intelligent security solutions with object recognition, behavior analysis, and advanced video analytics.
Further, established manufacturers provide IP cameras, network video recorders, Ethernet cables, monitors, routers, and modems for enterprises, data centers, banking facilities, hospitality centers, retail establishments, warehouses, communication networks, and healthcare organizations. However, privacy regulations, data breaches, internet usage, and smart devices pose challenges to the market. High-capacity storage and bandwidth requirements are essential for effective video surveillance.
The advent of smart AI-based video surveillance is the primary trend shaping the growth. The Video Surveillance Market has experienced significant growth due to security concerns and smart city initiatives. Businesses seek to leverage video data for intelligence through advancements in technology, such as AI-powered video surveillance. Regulatory requirements and privacy regulations necessitate the integration of video with access control and human operators. Machine learning and computer vision facilitate object recognition, behavior analysis, and advanced video analytics.
Moreover, intelligent security systems offer real-time access and remote monitoring, while potential threats require high-capacity storage and bandwidth. AI-powered video surveillance enhances security through facial, faceless, and behavioral detection, compensating for human errors. However, privacy regulations, data breaches, internet usage, smart devices, mobile video surveillance, and central control present challenges.
Issues related to privacy is the major challenge that affects the market growth. The video surveillance market is driven by security concerns and smart city initiatives, with advancements in technology enabling remote monitoring and real-time access through AI-powered and machine learning systems. Businesses utilize video surveillance for intelligence and access control, while regulatory requirements mandate the integration of video with human operators and computer vision for object recognition and behavior analysis. Advanced video analytics offer intelligent security solutions, but potential threats such as data breaches and privacy regulations pose challenges.
Further, key industries utilizing video surveillance include enterprises, data centers, banking facilities, hospitality centers, retail establishments, warehouses, communication networks, and healthcare organizations. Established manufacturers provide IP cameras, network video recorders, Ethernet cables, monitors, routers, and modems for implementation. However, concerns over privacy regulations, data breaches, and internet usage with smart devices and mobile video surveillance require careful consideration.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
In the modern world, video surveillance has become an integral part of security systems for businesses and individuals alike. The concept of smart cities and increasing concerns over security and public safety have fueled the growth of the video surveillance market. Businesses in sectors such as hospitality, retail, and education are investing in technologies like regulatory compliance, real-time monitoring, and analytics to enhance security and improve operational efficiency.
Further, the use of artificial intelligence and machine learning in video surveillance systems is a growing trend, enabling technologies like facial recognition and object detection. The market is expected to grow significantly in the coming years, driven by the increasing need for security and the advancement of technology. The potential for video surveillance is vast, with applications ranging from intelligent transportation systems to security and loss prevention. The future of video surveillance is bright, with advancements in technology set to revolutionize the way we secure our homes and businesses.
Market Scope |
|
Report Coverage |
Details |
Page number |
181 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.71% |
Market growth 2024-2028 |
USD 37 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.4 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
China, US, Japan, Germany, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agent Video Intelligence Ltd., Canon Inc., Costar Technologies Inc., CP PLUS International, Dahua Technology Co. Ltd., Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Corp., Hexagon AB, Honeywell International Inc., Huawei Technologies Co. Ltd., i PRO Co. Ltd., Motorola Solutions Inc., NEC Corp., NICE Ltd., Robert Bosch GmbH, Teledyne Technologies Inc., Tiandy Technologies Co. Ltd., Zhejiang Uniview Technologies Co. Ltd., and Zicom Saas Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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