Major Market Shift in Video Surveillance Industry: Rising Adoption Of Sophisticated Smart Home Security Cameras Redefining The Residential Surveillance Landscape

What Is the Forecasted Market Size and Growth Rate for the Video Surveillance Market?
In recent years, the size of the video surveillance market has expanded swiftly. It's projected to surge from $69.24 billion in 2024 to $79.16 billion in 2025, with a compound annual growth rate (CAGR) of 14.3%. This rise in the historical timeframe is linked to the heightened emphasis on security, connection with IT networks, the inclusion of mobile and wireless technologies, substantial data and analytics, and the advent of cloud-based storage solutions.

The future is looking bright for the video surveillance market, which is poised for considerable expansion in the coming years. The forecast suggests that by 2029, the sector will swell to $122.63 billion, a notable upturn that represents a compound annual growth rate (CAGR) of 11.6%. This sizable gain during the projected period can be traced back to several contributing factors: the influx of cloud-based storage methods, the broad implementation of 5G tech, the rise of edge computing, the combination of artificial intelligence (AI) and machine learning (ML), a heightened emphasis on cybersecurity, alongside integration with IoT devices. Predicted trends in this timeframe encapsulate real-time analysis using edge computing, including AI and ML, greater reliance on thermal imaging, management and storage of video via the cloud, and collaborations with augmented reality (AR).

What Factors Are Propelling the Expansion of the Video Surveillance Market?
The expansion of the video surveillance market is predicted to be fuelled by the proliferation of smart city initiatives. Smart cities make use of digital technology and data-informed strategies to augment their operations, improve their residents' quality of life, and minimize costs and resource use. The push for smart city evolution stems from urban municipalities' intent to use technology to address city problems and construct more livable, sustainable, and efficient urban settings. Video surveillance contributes to improved public safety in smart cities by observing and analyzing live data, allowing for quicker incident response, and facilitating comprehensive city safety and management. For example, in April 2023, the Smart City Index Report released by Switzerland's IMD Business School reported a 16.3% increase in smart cities - going up from 118 in 2021 to 141 in 2023. Consequently, the burgeoning smart city initiatives are powering the development of the video surveillance market.

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Which Businesses Are at the Forefront of Video Surveillance Market Development?
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

What Are the Latest Innovations in the Video Surveillance Market?
Prominent firms in the video surveillance industry are intensifying their efforts on creating innovative products, such as intelligent home security cameras, in order to achieve a competitive advantage in the sector. These high-tech security devices, intended for home use, link to a domestic network, generally through Wi-Fi, enabling homeowners to remotely monitor their residences via mobile applications. For instance, in July 2023, a tech company based in the Netherlands, Koninklijke Philips N.V., rolled out its inaugural range of smart home security cameras. The line consists of three smart security cameras and a newly introduced Home Safety app. The cameras provide full HD resolution, two-way communication, motion sensing, night visibility, and 128-bit encryption. They can be manipulated using the Philips Home Safety App, which is equipped with four distinct usage modes. The cameras cater to indoor use and offer options for stationary indoor security cameras and 360-degree indoor security cameras.

How Is the Video Surveillance Market Segmented?
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

Subsegments:
1) By Hardware: Cameras, Storage Devices, Monitors And Displays, Video Encoders Or Decoders, Cabling And Connectors, Power Supplies
2) By Software: Video Management Software (VMS), Video Analytics Software, Cloud-Based Surveillance Solutions, Video Compression Software, Access Control Integration Software, Incident And Event Management Software
3) By Services: Consulting Services, System Integration And Deployment Services, Maintenance And Support Services, Training And Education Services, Managed Services, Monitoring Services

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Where Is the Video Surveillance Market Growth Most Prominent?
North America was the largest region in the video surveillance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video surveillance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Video Surveillance Global Market Report?

- Market Size Analysis: Analyze the Video Surveillance Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Video Surveillance Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Video Surveillance Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Video Surveillance Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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