The video surveillance market is driven by factors such as rise in need for safety in high-risk areas, transition from analog surveillance to IP cameras, and integration of IoT in surveillance cameras.
WILMINGTON, Del., Dec. 6, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Video Surveillance Market By Component, Enterprise Size, System Type, Customer Type, and Application: Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global video surveillance market was valued at $61.84 billion in 2022, and is projected to reach $204.45 billion by 2032, registering a CAGR of 12.83% from 2023 to 2032.
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Prime Determinants of Growth
The video surveillance market is expected to witness notable growth owing to rise in need of safety in high-risk areas, transition from analog surveillance to IP cameras, and integration of IoT in surveillance cameras. However, high investment and lack of professional expertise in handling IP cameras limit the growth of the video surveillance market. Conversely, the development of smart cities and increase in installation of spy & hidden cameras are expected to provide lucrative opportunities for the growth of the market during the forecast period.
Report Coverage and Details:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Component, Enterprise Size, System Type, Customer Type, Application, and Region
Rise in need for safety in high-risk areas
Transition from analog surveillance to IP cameras
Integration of IoT in surveillance cameras
Development of smart cities
Increase in adoption of spy & hidden cameras
Lack of professional expertise in handling IP cameras
The hardware segment to maintain its leadership status throughout the forecast period
Depending on component, the hardware segment garnered the highest market share in 2022, accounting for nearly three-fourths of the global video surveillance industry revenue and is anticipated to maintain its dominance throughout the forecast period. This is attributed to the increase in demand for IP surveillance system. However, the software segment is projected to register the highest CAGR of 14.41 % from 2023 to 2032 due to an increase in demand for algorithm of video analytics software.
The large-scale enterprise segment to maintain its leadership status throughout the forecast period
On the basis of enterprise size, the large-scale enterprise segment acquired the highest market share in 2022, accounting for nearly two-thirds of the global video surveillance market revenue and is expected to maintain its leadership status throughout the forecast period, owing to increase in demand for electronic security solutions to obtain operation efficiency. However, the small-scale enterprise is projected to register the highest CAGR of 14.47 % from 2023 to 2032.
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The IP surveillance segment to maintain its leadership status throughout the forecast period
By system type, the IP surveillance segment held the highest market share in 2022, accounting for more than half of the global video surveillance market revenue and is expected to maintain its leadership status throughout the forecast period. This is attributed to advanced features of IP surveillance systems such as they can detect motion, smoke, count people, track certain colors, and sense the disappearance of things.
The B2B segment to maintain its leadership status throughout the forecast period
Based on customer type, the B2B segment held the highest market share in 2022, accounting for nearly three-fourths of the global video surveillance market revenue and is anticipated to maintain its leadership status throughout the forecast period, owing to rise in demand for intelligent video analytics.
The commercial segment to maintain its leadership status throughout the forecast period
By application, the commercial segment was the major shareholder in 2022, accounting for more than one-third of the global video surveillance market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to increase in demand for monitor theft and shoplifting. However, the military & defense segment is projected to garner the highest CAGR of 14.03% from 2023 to 2032.
Asia-Pacific to maintain its dominance by 2032
Region wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global video surveillance market revenue. This is attributed to the increased security concerns in the countries such as India, China, Singapore, and Japan.
Key Industry Development:
- In May 2022, Panasonic Corporation and Leica Camera AG announced an agreement for a new comprehensive and expanded business alliance. Both companies collaborated to develop new technologies and solutions under the name of “L2 Technology” (L squared Technology.
- In August 2022, Teledyne FLIR announced the release of the Neutrino LC CZ 15-300, Neutrino IS series model of mid-wavelength infrared (MWIR) camera modules with integrated continuous zoom (CZ) lenses. Designed for integrated solutions requiring crisp, long range, SD or HD MWIR imaging, the ITAR-free Neutrino IS series offers size, weight, power, and cost benefits to original equipment manufacturers (OEM) and system integrators for airborne, unmanned, C-UAS, security, ISR, and targeting applications.
- In March 2022, Motorola Solutions announced acquisition of Ava Security Limited, a global provider of cloud-native video security and analytics, based in London, U.K. Ava Security’s scalable, secure, and flexible cloud solution provides enterprises with real-time visibility and powerful analytics to optimize their operations and detect anomalies and threats.
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Leading Market Players:
- CANON INC.
- PANASONIC CORPORATION
- MOTOROLA SOLUTIONS, INC.
- ZHEJIANG DAHUA TECHNOLOGY CO., LTD
- TELEDYNE FLIR LLC.
- INFINOVA CORPORATION
- BCD INTERNATIONAL, INC.
- EAGLE EYE NETWORKS, INC.
- VERKADA INC.
- HONEYWELL COMMERCIAL SECURITY (HONEYWELL INTERNATIONAL INC.)
The report provides a detailed analysis of these key players of the global Video surveillance market. These players have adopted different strategies such as product launch, product development, partnership, investment, and acquisition to acquire maximum market share and strengthen their foothold in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the video surveillance market analysis from 2022 to 2032 to identify the prevailing video surveillance market opportunity.
- The market research is offered along with information related to video surveillance, market size key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the video surveillance market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global video surveillance market growth.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global video surveillance market trends, key players, market segments, application areas, and market growth strategies.
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