Video Surveillance Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Video Surveillance Market Trends & Growth Drivers

Adoption of IP-Based Video Surveillance Systems Is Biggest Trend

• The need for improved processing capabilities and compression methodologies are driving the use of IP-based video surveillance systems.
• Emerging technologies, such as artificial intelligence, computer vision, and pattern recognition, are rapidly being used in the current surveillance systems to discover aberrant behavior and patterns in various recordings.
• Traditional analog video surveillance systems are losing popularity as more-advanced and dependable IP-based video surveillance systems reach the market.
• The demand for IP-based video surveillance systems is expected to increase as a consequence of the significant advances in security, network services, and, most importantly, dropping prices of specialized products.
• Advances are helping reduce the expenses associated with the installation of surveillance systems. Further, the emergence of 360° video recording technology has enabled customers to replace 3–4 pan-tilt-zoom (PTZ) cameras.

Rising Usage of Artificial Intelligence and Software Analytics in Video Monitoring Is Driving Market

• Intelligent video surveillance systems are becoming increasingly important for maintaining security and safety, while also analyzing trends and patterns, as these systems use artificial intelligence software. The application aids in the analysis of audio and picture data from video cameras to identify individuals, cars, objects, and different events.
• AI-powered video analytics can handle duties such as real-time surveillance, people counting, and automated license plate identification, while also providing organizations with non-security-related data.
• In the retail business, store owners can detect shoplifters, and information security officers act in real time by utilizing surveillance cameras with analytics. Aside from retail outlets, sophisticated video surveillance is being used in industrial plants, offices, warehouses, and banks to identify suspicious activities.
• The surging need for intelligent monitoring is driving the demand for software analytics and artificial intelligence, which is bolstering the video surveillance market growth.

Video Data Privacy and Security Concerns Restrain Market Growth

• Numerous countries and regions are implementing robust privacy regulations to manage the usage of the video surveillance technology.
• This is essential in the respect of remote or cloud-based video storage, where data breaches, unauthorized access, and theft of recordings pose a huge threat.
• Consequently, organizations are becoming conscious of the importance of privacy and security due to these potential hazards, which can damage the business and ultimately prevent the market’s growth.

Video Surveillance Industry Outlook

Type Insights

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:

• Hardware (Largest Category)
  • Camera
  • Storage
• Software
  • Video analytics
  • Video management
• Service (Fastest-Growing Category)

Vertical Insights

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:

• Commercial (Largest Category)
• Infrastructure
• Institutional
• Industrial (Fastest-Growing Category)
• Residential
• Defense

APAC Is Fastest-Growing and Largest Region

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:

• North America
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • Germany (Largest Country Market)
  • U.K.
  • France (Fastest-Growing Country Market)
  • Italy
  • Spain
  • Rest of Europe
• APAC (Fastest-Growing and Largest Regional Market)
  • China (Largest Country Market)
  • Japan
  • India (Fastest-Growing Country Market)
  • South Korea
  • Australia
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest Country Market)
  • Mexico (Fastest-Growing Country Market)
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia (Largest Country Market)
  • South Africa
  • U.A.E. (Fastest-Growing Country Market)
  • Rest of MEA

Video Surveillance Market Share

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.

Video Surveillance Industry News

• In June 2023, SolidEDGE was launched by Hanwha Vision to offer effective, scalable, affordable surveillance solutions with remote access, multiple camera recording, and simple system management for companies of any size.
• In May 2023, AcuPick was launched by Dahua Technology for locating target videos precisely and conveniently.
• In April 2023, Intelligent Video Analytics Pro (IVA Pro) was launched by Bosch Security Systems. The product helps in the tracking, classification, and detection of objects.
• In September 2022, Neutrino LC CZ 15-300 was released by Teledyne FLIR to offer high-performance 640x512 HD MWIR imagery and 15–300-mm CZ capability.
• In September 2022, Hikvision added some new features to its Pro series PTZ cameras, along with the ColorVu technology in this range.
• In August 2022, Motorola Solutions received a contract from the Romanian National Administration of Penitentiaries to install 2,100 body-worn cameras, to improve safety and security at all the prisons in the country.
• In May 2022, Leica Camera AG signed an agreement with Panasonic Corporation for a new, comprehensive and expanded business alliance to develop novel technologies and solutions under the L2 brand.
• In January 2022, Panasonic developed a technology to manufacture far-infrared aspherical lenses to increase the functioning of cameras and sensors in bulk. These lenses have chalcogenide glass, which has a higher transmission quality in the far infrared spectrum.
• In May 2022, Videotec S.p.A. was acquired by Motorola Solutions Inc.
• In April 2022, Calipsa Inc, was acquired by Motorola Solutions. With this, the latter acquired scalable platforms that help businesses improve security with AI-based analytics. The solutions authenticate alarms, assist in content-based searches, and evaluate the conditions of cameras in real time.