Video Surveillance Market
Video Surveillance Market Size was valued at USD 52.65 Billion in 2021 and is projected to reach USD 157.07 Billion by 2030, growing at a CAGR of 12.91% from 2023 to 2030.
With the growing concern for security, there is a rising demand for the video surveillance market. In addition, rising demand for security observation products on account of criminal activities, cost reduction in availing various cloud storage solutions, and threat activities are essential factors enhancing this market. The Global Video Surveillance Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
A digital video surveillance system is a surveillance system that captures images and videos, which can be compressed, stored, or sent over communication networks. It can be used in any environment. Security and surveillance are required for all organizations worldwide. Governments, enterprises, financial institutions, and healthcare organizations are expected and required to have a certain level of security and monitoring measures. As a result, there has been a dramatic increase in the demand for security applications such as video surveillance to monitor and record borders, ports, transportation infrastructure, corporate houses, educational institutes, public places, buildings, and others.
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Global Video Surveillance Market Overview
With the growing concern for security, there is a rising demand for the Video Surveillance Market. This system consists of IP video/network video surveillance systems that offer amazing features such as high resolution and product scalability that will help the organizations to increase their operational efficiency, which will lead to the growth of the market. In addition, rising demand for security observation products on account of criminal activities, cost reduction in availing various cloud storage solutions, and threat activities are essential factors enhancing this market.
With the use of IP-based digital technologies, it is able to detect and prevent undesirable behaviors, such as shoplifting, thefts, vandalism, and terror attacks. However, certain factors like the absence of unified standardization, exorbitant initial costs, and the impending threat to data integrity are restraining the growth of the Video Surveillance Market. Moreover, rising government investment in increasing safety levels in public places is likely to offer lucrative opportunities for the market to grow over the forecast period.
Video Surveillance Market Trends
This section covers the major market trends shaping the Video Surveillance Market according to our research experts:
Infrastructure Segment is Expected to Register Significant Growth
The infrastructure segment encompasses road, rail, airports, stadiums, etc. Technological advancements in the industry have led to the development of night vision cameras that are designed to work in low-lit areas. Infrastructure segments, particularly roads, need night-vision cameras to monitor traffic and keep track of suspicious activities. These factors are anticipated to propel the system's demand in the infrastructure segment.
In recent years, airports have witnessed an increase in the number of terrorist attacks and intrusions activities. The prevention of unauthorized access and the early detection of suspicious activities are the most pressing security challenges for airport operators.
Furthermore, video surveillance is one of the crucial aspects of stadium security systems since manual monitoring of individual entrants becomes difficult during large gatherings. For instance, the organizing committee of the Tokyo Olympics 2020 announced that more than 8,000 surveillance cameras are being installed across venues spread across the country. Some of the security guards are also to be equipped with wearable cameras to monitor scenes in real time.
Departments of Transportation (DOTs) are expanding their use of job site cameras to monitor their projects, improve safety, and minimize cost overruns as demand mounts on the infrastructure business to keep up with other sectors in terms of productivity. In March 2021, EarthCam and Infotech, a leading infrastructure development software solutions provider, announced a new integration with Infotech's Doc Express service, which would send crucial visual data directly into the DOT's workflow, easing the use of visual data in project management.
In the midst of the COVID-19, the Transportation Security Administration of the US implemented social distancing and other safety measures at airport TSA checkpoints. Deep North, a start-up based in Foster City, California, received USD 196,880 in Phase 1 funding from the Department of Homeland Security Science and Technology Directorate Silicon Valley Innovation Program in March 2021 to use video analytics in airport screening processes to significantly reduce exposure and contact between passengers and transportation security officers.
Further, with the development of smart cameras and various associated sensors, there has been a shift toward more in-band analytics. This convergence of factors lays the strong foundation for SaaS (Software as a Service).
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Global Video Surveillance Market: Segmentation Analysis
Video Surveillance Market, By System
Analog Video Surveillance Systems
IP Video Surveillance Systems
Video Surveillance Market, By Offering
Hardware
Software
Video Surveillance-as-a-Service
Installation and Maintenance Services
Video Surveillance Market, By Vertical
Commercial
Infrastructure
Military & Defense
Residential
Public Facility
Industrial
Video Surveillance Market, By Geography
North America
Europe
Asia Pacific
Rest of the world
Key Players
Hikvision (China), Dahua (China), Axis Communications (Sweden), Bosch Security Systems (Germany), FLIR (US), Avigilon (Canada), Hanwha Techwin (South Korea), Honeywell Security Group (US), Infinova (US), Pelco (US).
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