| Study Period | 2019 - 2030 |
| 2024 Market Size | USD 58.5 Billion |
| 2025 Market Size | USD 63.6 Billion |
| 2030 Forecast | USD 99.7 Billion |
| Growth Rate (CAGR) | 9.3% |
| Largest Region | Asia-Pacific |
| Fastest-Growing Region | Asia-Pacific |
| Nature of the Market | Fragmented |
| Largest Vertical | Commercial |
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The global video surveillance market will generate estimated USD 58.5 billion revenue in 2024, and it is projected to witness a CAGR of 9.3% during 2024–2030, reaching USD 99.7 billion by 2030. The growth is credited to the rising security demand in public and private places, such as homes, business complexes, airports, and schools. Additionally, smart cities require intelligent video surveillance for monitoring diverse activities. Moreover, AI-powered video analytics and deep learning improve surveillance effectiveness, which boost people and properties’ safety.
Further, the requirement for real-time access and remote monitoring of surveillance feeds, as well as the regulatory requirements for improving security measures, contribute to the market growth.
For example, in April 2023, Infinova won a contract to provide video surveillance solutions for over 60 airports in India. More than 6,000 versatile high-speed PTZ domes, long-lasting vandal-resistant minidomes, and flexible day/night fixed cameras were installed at important zones, such as boarding gates, baggage screening points, and check-in areas. Apart from increasing security, these cameras are likely to improve airport operations by supervising baggage and passenger movement and eliminating congestion and unnecessary delays.
Numerous businesses are investing large amounts of money in AI-equipped and future-proof video surveillance systems. AI-based video analytics automate tasks including object and face recognition and enable human operators to focus on more-critical tasks, such as directing security alerts.
Video Data Privacy and Security Concerns Restrain Market Growth
Hardware is the largest category, with a market share of around 50% in 2024. This is attributable to the rising demand for cameras, displays, and storage devices, which are essential components of video surveillance systems. As a result of the growing security concerns in numerous businesses, there is a high rise in the number of cameras installed on public and private premises globally. The transition to IP cameras has resulted in a slew of hardware advancements that boost low-light performance, object tracking, and built-in security. Furthermore, technological advancements have resulted in highly specialized surveillance cameras capable of zooming in and scanning objects such as dangerous equipment.
Video Surveillance as a service is a rapidly growing category, at a CAGR of 9.6% from 2024 to 2030. This is due to the various benefits of this technology, such as remote viewing, video recording, and cybersecurity. This technology can also be incorporated into the existing video management solutions.
This segment has three categories:
Commercial is the largest category, with a market share of 40% in 2024. This is due to the growing relevance of video surveillance systems in the commercial field as a result of the increasing security concerns across retail stores, corporations, banks, and financial institutes. Moreover, due to risks such as inventory loss, robbery, unauthorized access, and other criminal activities, the demand for commercial security solutions is increasing.
The industrial category will have the highest CAGR, of 9.8%, from 2024 to 2030. The demand for these solutions is growing to protect industrial facilities from criminal activities, such as vandalism and robbery, as well as unearthing the cause of serious accidents, such as oil spills, boiler explosions, or radiation leakage. Additionally, advanced manufacturing technologies are being widely adopted, which will fuel the demand for video surveillance systems for managing and monitoring.
This segment has six categories:
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Geographically, APAC is the fastest-growing region, with a CAGR of 9.7% from 2024 to 2030 and it is the largest region too. This growth is due to the advancing technology, growing security concerns, and rapid urbanization. Countries such as India, China and Japan are leading in terms of infrastructure development and investments in smart city projects in diverse sectors. All these factors are contributing to the rising demand for enhanced surveillance solutions.
Further, the region’s huge manufacturing base and the existence of major industrialists are behind the development of innovative video surveillance and monitoring solutions.
China is a major consumer of video surveillance technology in the APAC region, and it accounts for the largest share of the regional market. The country holds the largest surveillance network and employs more than half of all surveillance cameras in use in the region. As per a source, all significant public spaces in China are projected to be covered by video surveillance cameras equipped with facial recognition technology, in order to minimize crime and preserve social stability.
Furthermore, the country offers a rapidly expanding possibility for small companies and residential units to adopt video surveillance systems. China is executing several infrastructure projects, such as airports, railways, stadia, and highway networks, which are likely to necessitate high-definition surveillance systems capable of capturing crisp pictures even in complete darkness.
Moreover, the government's city surveillance and smart city infrastructure development programs are enhancing the use of video surveillance equipment, which is augmenting the market growth.
North America holds a significant market share in 2024. This dominance is due to the broad application of this technology in the residential, commercial, and industrial sectors. The North American market will also showcase a substantial growth rate during the forecast period, owing to the steady rise in infrastructure expenditure, increase in the cases of road rage and accidents, and surge in the concern for public safety.
In North America, the U.S. has the major share in the market and it is expected to maintain its position in the coming years. This dominancy is due to the rising number of applications in the residential, industrial, and commercial sectors which boost the demand for video surveillance cameras and equipment in the region.
The Middle East & Africa are expected to grow rapidly in the coming years and will have bright market opportunities. Several key players in MEA market are focusing on increasing investments, solutions, strategic partnerships, product portfolios to make strong and user-friendly functionality along with mobile video surveillance. In this region, Saudi Arabia and U.A.E. are the two major countries which are responsible for the high growth of the market. This is owing to many businesses in the MEA which is taking opportunities to go ahead in protecting their compliances and conventions and utilizing technology to control threats on enterprise devices.
These regions and countries were analyzed in this report:
The global video surveillance market is fragmented in nature as it has established players, along with new entrants. The established players are investing heavily in R&D and focusing on mergers and acquisitions as well as advanced technology to be on top. Additionally, new product launches, agreements, geographical expansion, and collaborations are contributing to the growth of the market.
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