Video Surveillance Market by Offering (Software, Hardware, Installation & Maintenance Services, and Video Surveillance-as-a-Service), System (IP Video Surveillance Systems and Analog Video Surveillance Systems), Vertical (Commercial, Military & Defence, Infrastructure, Public Facility, Residential, and Industrial), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2023-2031
Video Surveillance Market Outlook 2031
The global video surveillance market size was valued at USD 48.7 Billion in 2022 and is expected to surpass USD 109.32 Billion by 2031 expanding at a CAGR of 9.4% during the forecast period, 2023–2031. The market growth is attributed to the rising demand for security cameras to limit theft and other related activities.
Video surveillance is a system that uses television systems and receivers. It is a digitized system, commonly used for facility protection, traffic monitoring, vandalism deterrence, and remote video monitoring. Moreover, it is used for real-time monitoring and the information collected from the camera can be used to identify and plan security measures.
Video surveillance systems can work in any environment and extract videos and images which can be stored and monitored later. Recent technological advancements such as high-definition cameras with facial recognition technology provide more accurate and credible information.
The Impact of Artificial Intelligence on the Video Surveillance Market
Artificial Intelligence has a significant impact on the video surveillance market as AI-powered security solutions help maintain security 24/7 without having to monitor for long periods of time. AI helps in detecting threats and false alarms and provides notifications about real dangers. Thus, with the integration of advanced analytics into video surveillance systems, security officers get faster and more accurate real-time data which helps them make informed decisions.
According to the FBI, nearly 57.5% of theft activities consist of forceful entry, 36.2% involve illegal property entrance, and 6.3% involve forced entry attempts. Thus, it is essential to deploy a powerful intrusion detection system for any organization or property. Furthermore, AI brings real-time alerts about any event helping to increase awareness and reduce threat. Thereby, increasing the market value in the forecast period.
Video Surveillance Market Dynamics
Major Drivers
Increasing theft and vandalism across the world and the growing security concerns are fueling the market. Rising investment by the government for the safety of people in public places and reduction in cost for various cloud storage solutions is expected to drive the demand for the video surveillance market.
Existing Restraints
Increasing concerns among people regarding privacy and leakage or misuse of data have resulted in stricter laws regarding privacy protection. These factors limit the market growth.
Emerging Opportunities
Growing demand for thermal cameras for body temperature screening and mask detection algorithms is anticipated to provide lucrative opportunities for market players during the forecast period.
Scope of Video Surveillance Market Report
The market report includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
Video Surveillance Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Offering (Software, Hardware, Installation & Maintenance Services, and Video Surveillance-as-a-Service), System (IP Video Surveillance Systems and Analog Video Surveillance Systems), Vertical (Commercial, Military & Defence, Infrastructure, Public Facility, Residential, and Industrial) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Dahua Technology Co., Ltd.; Hangzhou Hikvision Digital Technology Co., Ltd.; Axis Communications; Teledyne FLIR; Bosch Security and Safety Systems; Hanwha Techwin America; Avigilon Corporation; Honeywell International Inc.; Pelco; and The Infinova Group. |
Video Surveillance Market Segment Insights
Offering Segment Analysis
In terms of offering, the video surveillance market can be fragmented into software, hardware, installation & maintenance services, and video surveillance-as-a-service. The hardware segment is expected to hold a substantial share during the forecast period. Increasing uses of cameras due to rising security concerns worldwide, and hardware-based innovations in performance and object tracking are driving this segment.
System Segment Analysis
Based on system, the video surveillance market can be bifurcated into IP video surveillance systems and analog video surveillance systems. The IP video surveillance systems segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period. In comparison to analog cameras, IP cameras have better capabilities such as digital processing within the camera, and motion detection. Moreover, IP cameras contain hardware components for encoding/decoding and cyber security.
Vertical Segment Analysis
On the basis of vertical, the market can be segregated into commercial, military & defence, infrastructure, public facility, residential, and industrial. The commercial segment accounted for the major share of the video surveillance market in 2020 and is expected to grow at a substantial CAGR during the forecast period.
Commercial video surveillance systems are becoming increasingly popular due to increasing security concerns across applications, such as retail, enterprises, banks, and financial institutions.
Regional Analysis
In terms of region, the global video surveillance market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific constituted a significant share of the market in 2020 due to the growing population in major cities and the development of smart cities. Moreover, increasing population in China and India has increased the demand for reliable video surveillance solutions.
The market in North America is projected to expand at a significant CAGR during the forecast period due to decreasing costs of video surveillance solutions and rising investment by the government.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Video Surveillance Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Video Surveillance Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Video Surveillance Market - Supply Chain
4.5. Global Video Surveillance Market Forecast
4.5.1. Video Surveillance Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Video Surveillance Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Video Surveillance Market Absolute $ Opportunity
5. Global Video Surveillance Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Video Surveillance Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Video Surveillance Demand Share Forecast, 2019-2026
6. North America Video Surveillance Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Video Surveillance Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Video Surveillance Demand Share Forecast, 2019-2026
7. Latin America Video Surveillance Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Video Surveillance Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Video Surveillance Demand Share Forecast, 2019-2026
8. Europe Video Surveillance Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Video Surveillance Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Video Surveillance Demand Share Forecast, 2019-2026
9. Asia Pacific Video Surveillance Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Video Surveillance Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Video Surveillance Demand Share Forecast, 2019-2026
10. Middle East & Africa Video Surveillance Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Video Surveillance Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Video Surveillance Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Video Surveillance Market: Market Share Analysis
11.2. Video Surveillance Distributors and Customers
11.3. Video Surveillance Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Dahua Technology Co., Ltd.
11.4.2. Hangzhou Hikvision Digital Technology Co., Ltd.
11.4.3. Axis Communications
11.4.4. Teledyne FLIR;
11.4.5. Bosch Security and Safety Systems
11.4.6. Hanwha Techwin America
11.4.7. Avigilon Corporation