Video Surveillance Global Market Analysis, Trends, Growth, Research And Forecast 2033

The video surveillance market size has grown rapidly in recent years. It will grow from $60.51 billion in 2023 to $69.24 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to the increased focus on security, integration with IT networks, integration of mobile and wireless technologies, big data and analytics, the emergence of cloud-based storage solutions.

The video surveillance market size is expected to see rapid growth in the next few years. It will grow to $110.09 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to the emergence of cloud-based storage solutions, the widespread adoption of 5G technology, increasing use of edge computing, integration of artificial intelligence (AI) and machine learning (ML), growing focus on cybersecurity, integration with IoT devices. Major trends in the forecast period include edge computing for real-time analysis, artificial intelligence (AI) and machine learning (ML) integration, increased use of thermal imaging, cloud-based video storage and management, augmented reality (AR) integration.

Market Overview -
Video surveillance refers to using closed-circuit television (CCTV) cameras or similar video recording devices to observe and record activities within a defined area for security, safety, or monitoring purposes. The primary purpose of video surveillance is to enhance security, safety, and situational awareness by capturing visual information in real-time or recording it for later review.

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Smart City Initiatives Drive Video Surveillance Market Growth
Rising smart city projects are expected to propel the growth of the video surveillance market going forward. A smart city is a city that employs digital technology and data-driven solutions to improve its performance and well-being and reduce costs and resource consumption. The surge in smart city development is driven by cities aiming to leverage technology to tackle urban challenges and establish urban environments that are more habitable, sustainable, and efficient. Video surveillance in smart cities helps to enhance public safety by monitoring and analyzing real-time data, enabling faster responses to incidents, and promoting overall urban security and management. For instance, in April 2023, according to the Smart City Index Report published by IMD Business School, a Switzerland-based business school, the number of smart cities increased by 16.3%, from 118 cities in 2021 to 141 in 2023. Therefore, rising smart city projects are driving the growth of the video surveillance market.

Competitive Landscape -
Major companies operating in the video surveillance market are Sony Corporation, Panasonic Corporation, Honeywell International Inc., Johnson Controls International PLC, Hikvision Digital Technology Co. Ltd., Seagate Technology PLC, Motorola Solutions Inc., Teledyne FLIR LLC, Zhejiang Dahua Technology Co. Ltd., Hanwha Techwin Co. Ltd., Axis Communications AB, Verint Systems Inc., Zhejiang Uniview Technologies Co. Ltd., Vivotek Inc., Genetec Inc., Milestone Systems A/S, Pelco Incorporated, Bosch Security Systems GmbH, March Networks Corporation, Verkada Inc., Infinova Corporation, AV Costar LLC, IndigoVision Group plc, Geutebrück GmbH, Swann Communications Pty Ltd., CP PLUS GmbH & Co. KG, Lorex Technology Inc., Salient Systems Corporation

Rising Adoption Of Sophisticated Smart Home Security Cameras Redefining The Residential Surveillance Landscape
Major companies operating in the video surveillance market are increasing their focus on developing advanced products, such as smart home security cameras, to gain a competitive edge in the market. These sophisticated surveillance devices, designed for residential use, connect to a home network, typically via Wi-Fi, enabling users to monitor their property remotely through mobile applications. For instance, in July 2023, Koninklijke Philips N.V., a Netherlands-based technology company, launched its first smart home security camera range, which includes three smart security cameras and a new Home Safety app. These cameras offer full HD resolution, two-way talk, motion detection, night vision, and 128-bit encryption. They can be controlled using the Philips Home Safety App, which has four different usage modes. The cameras are designed for indoor use, with options for fixed indoor security cameras and 360° indoor security cameras.

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Key Segments -

The video surveillance market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By System Type: Analog Video Surveillance Systems, Internet Protocol (IP) Video Surveillance Systems, Hybrid Video Surveillance Systems
3) By Enterprise Size: Small Scale Enterprise, Medium Scale Enterprise, Large Scale Enterprise
4) By Applications: Residential, Commercial, Defense, Infrastructure

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

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