Surveillance Camera Global Market Expected to Witness $57.21 Billion with Impressive Growth at a 10.1% CAGR By 2028 | Sony Corporation, Canon Inc., FLIR Systems Inc., VIVOTEK Inc., Genetec Inc.

The surveillance camera market size has grown rapidly in recent years. It will grow from $34.69 billion in 2023 to $38.89 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to urbanization and population growth, terrorism and crime prevention, data storage and analytics, growing awareness among individuals and businesses about the benefits of surveillance cameras.

The surveillance camera market size is expected to see rapid growth in the next few years. It will grow to $57.21 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to integration with IoT and AI, cloud-based surveillance, privacy concerns, cost reduction in camera technology, increased security concerns. Major trends in the forecast period include increased adoption of AI and analytics, higher resolution and enhanced imaging, rapid growth in edge computing, integration with IoT devices, privacy-centric technologies.

Market Overview -
A surveillance camera, also called a security camera or CCTV camera, is a device designed to capture and record visual information about its surroundings. It is commonly used for monitoring and surveillance to enhance security in various settings, such as public areas, private properties, businesses, and institutions.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=14513&type=smp

Surging Crime Rates Fueling The Expansion Of The Surveillance Camera Market
Rising crime rates are expected to propel the growth of the surveillance camera market going forward. A crime is an act or behavior deemed unlawful and punishable by law. Rising crime rates can be attributed to a combination of economic disparities, social disorganization, drug-related issues, gang activities, and inadequate law enforcement, among other factors, which collectively contribute to increased criminal behavior in various communities. Surveillance cameras can deter criminal activities by creating a visible monitoring presence, and the footage can serve as valuable evidence for law enforcement, potentially leading to a decrease in crime rates. For instance, according to the National Insurance Crime Bureau (NICB), a US-based insurance industry trade association, there were over 1 million vehicle thefts in 2022, a 7% increase from 2021. Furthermore, according to CrimeRate.co.uk, a UK-based government website, the crime rate in the UK was 75.88 per 1,000 people in 2022-2023, an 8% rise from 2021. Therefore, the rising crime rates are driving the growth of the surveillance camera market.

Competitive Landscape -
Major companies operating in the surveillance camera market are Sony Corporation, Panasonic Corporation, Cisco Systems Inc., Honeywell International Inc., Canon Inc., Hikvision Digital Technology Co. Ltd., Zhejiang Dahua Technology Co. Ltd., Hanwha Techwin Co. Ltd., FLIR Systems Inc., Axis Communications AB, Avigilon Corporation, Verint Systems Inc., Zhejiang Uniview Technologies Co. Ltd., VIVOTEK Inc., Genetec Inc., Pelco Incorporated, Tiandy Technologies Co. Ltd., ACTi Corporation, Bosch Security Systems GmbH, Mobotix AG, March Networks Corporation, Infinova Corporation, AV Costar LLC, IndigoVision Group plc, Swann Communications Pty Ltd., CP PLUS GmbH & Co. KG, Lorex Technology Inc.

Growing Emphasis On Advanced Edge AI Cameras For Enhanced Security And Operational Efficiency
Major companies operating in the surveillance camera market are increasing their focus on developing advanced products, such as edge AI cameras, to gain a competitive edge in the market. These cameras come with on-device artificial intelligence capabilities for processing and analyzing data directly at the network's edge, near the source of data generation. For instance, in March 2023, IDIS, a South Korea-based security technology company, launched a new line of Edge AI cameras, which includes dome and bullet camera models. The cameras are designed to reduce false alarms, improve security teams' responsiveness and operational efficiency, and accurately distinguish between humans, vehicles, and other objects. The new range features models with NIR Lightmaster technology, deep learning-powered 5MP dome and bullet cameras, IDIS Smart Failover, true WDR, H.265, IDIS Intelligent Codec, and PoE capabilities. The cameras are easy to deploy and offer seamless connectivity with IDIS network recorders, making them particularly useful for customers who require highly accurate alerts in various settings such as vulnerable perimeters, vehicle access, parking areas, entrances and exits, and sensitive or risk-critical locations.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/surveillance-camera-global-market-report

Key Segments -
The surveillance camera market covered in this report is segmented -
1) By Product Type: Internet Protocol (IP)-Based, Cellular Camera, Analog Camera
2) By Resolution Capacity: High Definition (HD), Full High Definition (FHD), Ultra High Definition (UHD) (4K)
3) By Deployment: Indoor, Outdoor
4) By End-Use: Residential, Commercial Infrastructure, Public Facilities, Industrial, Military And Defense, Other End-Uses

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.