Press release
Wireless Video Surveillance Market Size Projected To Reach $45.32 Billion By 2034 With A Cagr Of 12.1%
Wireless Video Surveillance
What Is the Projected Growth of the Wireless Video Surveillance Market?
In recent years, the market size for wireless video surveillance has seen rapid expansion. It's expected to increase from a worth of $25.48 billion in 2024, to being valued at $28.66 billion in 2025, indicating a compound annual growth rate (CAGR) of 12.5%. This growth during the historic period can be linked to the fast-paced development of smart cities, a rise in demand for instantaneous surveillance systems, the ability to record and keep track of activities, a growth in disposable income, and hurdles in public administration.
The market for wireless video surveillance is predicted to experience substantial expansion in the coming years. The estimation suggests it will escalate to $45.32 billion in 2029, with a compound annual growth rate (CAGR) of 12.1%. The anticipated growth is linked to factors such as an upsurge in urbanization needs, adoption of cutting-edge surveillance, a heightened need for security in high-risk sites, increased demand for wireless household video surveillance, as well as remote observation and accessibility. Key trends projected for the forecast period encompass advancements in 5G technology, product innovations, IoT and artificial intelligence integration, partnerships and collaborations, along with the rise of new technologies in video surveillance.
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What Are the Different Wireless Video Surveillance Market Segments?
The wireless video surveillance market covered in this report is segmented -
1) By Component: Hardware, Services
2) By Customer Type: Business-to-business, Business-to-customer
3) By Application Type: Infrastructure, Residential, Commercial, Military, Other Applications
Subsegments:
1) By Hardware: Wireless Cameras, Wireless Network Video Recorders, Wireless Sensors And Detectors, Storage Devices (Cloud Storage, Local Storage), Wireless Transmitters And Receivers, Access Control Devices
2) By Services: Installation And Integration Services, Monitoring And Surveillance Services, Cloud Storage And Data Management Services, Maintenance And Support Services, Consulting And Training Services
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What Are the Primary Drivers Shaping the Wireless Video Surveillance Market?
Growth in the wireless video surveillance market is predicted to be fuelled by the escalating incorporation of IoT technology. The Internet of Things (IoT), a network where interconnected devices, sensors, and systems communicate and exchange data via the internet, has seen rising adoption due to improvements in connectivity, cheaper hardware, data analysis capabilities, and integration with AI and machine learning. IoT technology facilitates the implementation of artificial intelligence and deep machine learning in video surveillance systems, enabling more advanced video analytics. Wireless video surveillance is made more efficient, functional, and secure with the usage of IoT technology by means of advanced analytics, increased connectivity, and the ability for remote monitoring. As per data from the UK's GSM Association, a non-profit industry firm, in January 2022, it was projected that IoT connections would go beyond 23.3 billion by 2025, a considerable surge from the 15.1 billion connections that were recorded in 2021. Consequently, the increasing incorporation of IoT technology is fueling the growth of the wireless video surveillance market.
Which Companies Are Leading in the Wireless Video Surveillance Market?
Major companies operating in the wireless video surveillance market report are Samsung Electronics Co. Ltd.; Robert Bosch GmbH; Panasonic Corporation; Cisco Systems Inc.; Canon Inc.; Tyco International; Hangzhou Hikvision Digital Technology Co. Ltd.; Honeywell Security; Motorola Solutions Inc.; Zhejiang Dahua Technology Co. Ltd.; FLIR Systems Inc.; Axis Communications AB; IDIS; Vivotek Inc.; Genetec; Infinova Group; D-Link Corporation; Eagle Eye Networks Inc.; Pro-Vigil; Qognify Inc.; Ivideon; Advancis Software & Services GmbH; CP PLUS; Vantage Security Ltd.; Camcloud; Eyeforce Inc.
What Are the Major Trends Shaping the Wireless Video Surveillance Market?
Leading businesses in the field of wireless video surveillance are adopting cutting-edge technologies like AI-powered smart home security cameras in order to bolster their market presence. Smart home security cameras powered by artificial intelligence are surveillance cameras that are equipped with AI technology, offering improved functionalities beyond just traditional video monitoring. As an illustration, in January 2024, Abode Systems, an American company known for home security systems, along with Morse Micro, a Wi-fi company from Australia, and Xailient, a privacy service provider based in the US, introduced the first-ever wireless home security camera with AI-at-the-edge capabilities. This AI-enabled, battery-operated smart home security camera employs the Wi-Fi-certified HaLow system-on-chip (SoC), enabling it to overcome transmission barriers and deliver unparalleled performance, even within surroundings saturated with multiple devices and cameras. By utilising a PIR (passive infrared sensor) motion sensor in tandem with AI detection, it triggers critical event recordings when any significant activity is detected.
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What Are the Top Revenue-Generating Geographies in the Wireless Video Surveillance Market?
North America was the largest region in the wireless video surveillance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wireless video surveillance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Wireless Video Surveillance Market?
2. What is the CAGR expected in the Wireless Video Surveillance Market?
3. What Are the Key Innovations Transforming the Wireless Video Surveillance Industry?
4. Which Region Is Leading the Wireless Video Surveillance Market?
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