Global Video Surveillance Market to Hit USD 78.45 billion by 2030

The global video surveillance market is estimated to be USD 43.7 billion in 2021 and is predicted to reach USD 78.45 billion by 2030, growing at a CAGR of 10.6% during the forecast period 2022-2030. The factors responsible for the growth of video surveillance across the globe are growing concerns about public safety and security, increasing adoption of IP cameras, and growing demand for wireless and spy cameras.

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Market Segmentation
Insight by Offering

Based on offering, the global video surveillance market is categorized into hardware, software, and services. The software segment is expected to experience the fastest growth in the global video surveillance market during the forecast period. The software segment includes video analytics and video management system.

Insight by End User

On the basis of end user, the video surveillance market is categorized into infrastructure, commercial, military & defense, residential, public facility, and industrial. The infrastructure segment is expected to experience the fastest growth in the global video surveillance market during the forecast period.

Industry Dynamics
Growth Drivers

The primary factors driving the growth of the global video surveillance market are:
 Increasing adoption of IP cameras
 Growing concerns about public safety and security
 Increasing demand for wireless and spy cameras

Rising government and stakeholder investment for the development smart cities and employing city surveillance solutions, growing demand for VSaaS services, ongoing technological advancements in Big Data, IoT, and cloud-based services, and growing trends of artificial intelligence and deep learning for video surveillance systems are expected to create ample opportunities to players in the global video surveillance market during the forecast period.

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Challenges

Violation of privacy and requirement for high-capacity storage systems and higher bandwidth are probably the greatest obstacle confronting video surveillance producers.

Opportunities

- Ongoing technological advancements in Big Data, IoT, and cloud-based services
- Increasing government and stakeholder investment for the development of smart cities and employing city surveillance solutions
- Growing demand for VSaaS services

Geographic Overview

Geographically, Asia-Pacific is expected to experience the fastest growth in the global video surveillance market during the forecast period. Some of the major factor driving the growth of the APAC market are heavy investments in smart city projects. and growing number of security threats and concerns in countries such as China, Japan, India, and South Korea. Rising awareness of safety and security across different sectors such as commercial, infrastructure, and public places also fuels the growth of the video surveillance market in Asia-Pacific. The growing incidence of theft, terrorist attacks, and other crimes has resulted in an increasing need for video surveillance systems in Asia-Pacific.

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Competitive Insight

Hikvision has a leading position in the global video surveillance market. The company is focusing on HP IP that is widely accepted by customers. Hikvision is adapting to the global market at a faster pace and provides a full range of HD IP product lines from entry-level to professional sectors.

Axis offers innovations in the chipset-ARTPEC-7 is powerful security, analytics, and compression. It sees video surveillance as a high-growth industry and provides end-to-end solutions that use Axis camera stations. Axis is sustainable in three areas: responsible business conduct, and environment and social responsibilities.

Key players operating in the global video surveillance market include Dahua Technology, Axis Communications, Bosch Security and Safety Systems, Hikvision, Hanwha Techwin, Panasonic i-PRO Sensing Solutions, Pelco, Qognify, Nice Systems, Huawei Technologies, and Honeywell Commercial Security.

Forecast Parameters

- Identifying variables and establishing market impact.
- Establishing market trends regionally.
- Analyzing opportunities and market penetration rates by understanding product commercialization, regional expansion.
- Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
- Analyzing sustainability strategies adhered by market participants in an attempt to determine future course of the market.
- Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trend.
- Understanding adoption, development, distribution and regulatory framework.

Data Validation

- Estimated and forecasted data was validated through industry experts.
- Apart from industry experts, data triangulation methods were used for validation.
- Bottom up and top down approach has been used for estimation and forecast of market data, whereas top down approach was used for validation.
- Demand as well as supply side surveys were conducted in order to understand the industry dynamics and data validation.

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