Video Surveillance Market Size, Share & Analysis

[341 Pages Report] The global video surveillance market is expected to be valued at USD 54.42 billion in 2024 and is projected to reach USD 88.71 billion by 2030, growing at a CAGR of 8.5% from 2024–2030. The video surveillance market involves using cameras and monitoring systems to enhance security across various sectors. Applications involve monitoring public places, transportation hubs, industrial facilities, and private properties. Key growing trends include the application of AI and cloud-based solutions boasting advanced analytics and remote access. The increasing number of smart city initiatives with growing security concerns act as a driver for the market. The integration of video surveillance into other technologies provides overall security solutions.

Video Surveillance Market Forecast to 2030

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Impact of AI on Video Surveillance Market

AI has rapidly transformed the global video surveillance market by improving image analysis and decision-making capabilities. Facial recognition, object detection, and anomaly detection applications improve security and operational efficiency. Other developing trends include the increasing integration of AI with edge computing to make analytics real time, and advanced algorithm design for better accuracy. This is how the technological shift is supporting the growth of the market in building more intelligent and automated solutions for surveillance.

Video Surveillance Market Dynamics

Driver: Increasing use of edge AI

Video analytics is an edge computing process wherein data should be processed locally on an edge device instead of transferring it to a central server. Additionally, it minimizes latency to provide quicker responses for real-time analysis. It gives more efficiency by reducing bandwidth usage and enables immediate action on insights such as finding security threats or issues in operations. Edge computing is ideal for smart cities and surveillance systems, as it supports scalability, reliability, and timely data processing. This will improve data privacy since sensitive information is kept on-site, enhancing performance in an intermittent connectivity environment. Besides the benefits edge computing offers regarding video analytics, it makes much more personalized, special processing possible according to location or environment. For example, crowded urban areas could utilize edge devices to filter out unnecessary data and work with relevant footage: suspicious activity or some form of unusual behavior, which also keeps the approach in a more localized setting thereby improving the accuracy of the security measures since there is little requirement for continuous high-bandwidth transmission of data to centrally managed systems.

Restraint: Increasing storage and management costs

One of the major restraints for the video surveillance market stems from the increasing storage and management costs. As technology advances, firms are utilizing high-resolution cameras that capture more magnified images than their ancestors. These videos occupy tremendous bytes and, therefore, often require large amounts of storage space. Storage of these volumes of data is expensive, especially when the business is required to hold recordings over extended periods for either regulatory or operational requirements. Video data also translates into a huge management challenge. It would require software and hardware infrastructure that is quite advanced to manage such video data volumes. They require a tremendous amount of data centers and efficient data management systems, and the cost of proper secure storage can add up rapidly. Organizations must also undertake a backup system, which again escalates the cost. Most small and medium-sized enterprises consider these costs too high and may impose stringent constraints on their decision to install or scale up a surveillance system. Besides, the more the need for storage grows, the more costs associated with several cloud storage alternatives increase, and therefore, are not encouraging the easy adoption of video surveillance technologies.

Opportunity: Emergence of AI and ML-powered video analytics

AI- and ML-powered video analytics make the video surveillance system smarter by automating the analysis of video feeds. Current applications include face recognition, object tracking, and behavior analysis that enhance operational efficiency with real-time insights and alerts. The technology is foreseen to progress even further into the future, creating the possibility of such advanced applications as predictive analytics, threat detection at a higher level of sophistication, and integration with other smart technologies. With AI-enabled analytics, it is predicted that the need for manual monitoring will be reduced in the coming years. The various areas of applications for such industries will greatly expand with further development and refinement of AI-powered video analytics. Examples of applications in healthcare may include monitoring patient movement for falls or abnormalities in behavior and promptly notifying medical staff immediately. In transportation, analyzing volumes of video data on traffic flow can identify accidents and improve general road safety through split-second decisions. Integrating AI and ML with IoT devices will take video surveillance to the next generation. Smart sensors and other devices can collaborate for an AI-driven camera in a wholesome, intelligent surveillance ecosystem.

Challenge: Cybersecurity risks

The cybersecurity-related risks in video surveillance systems involve hacking, data breaches, and unauthorized access. Current threats include hacking because of weak passwords, outdated software configuration, and non-secured network connectivity. Future threats will have sophisticated cyber-attacks on vulnerabilities with AI analytics-powered attacks and IoT-enabled devices. The need for strong encryptions and securities is expected to rise as the technology moves toward more integrated and seamless systems. Also, further reliance on cloud storage increases cyber risks for the video surveillance market. The threat surface further expands because of the increased complexity of video surveillance systems. When more and more items are on a network, including cameras, sensors, and IoT devices, each becomes a gateway for the hacker to access. This interoperability demands greater depth within its cybersecurity strategy, including software updates, multi-factor authentication, and continuous network monitoring to spot suspicious activities in real time. Another emerging concern in the context of AI and machine learning algorithms is that these can easily be vulnerable to cyber threats. The attacks on these systems could be carried out by manipulating them with adversarial attacks or feeding false data into AI models to deceive them into making incorrect decisions.

Video Surveillance Ecosystem

Leading players operating in the video surveillance market are Dahua Technology Co., Ltd (China), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Axis Communications AB. (Sweden), Bosch Sicherheitssysteme GmbH (Germany), and Hanwha Vision Co., Ltd. (South Korea), and many more. The ecosystem has been portrayed by clubbing together video surveillance hardware manufacturers, software & algorithm developers, video management software providers, cloud service providers, integrators and solution providers, AI-driven analytics & insight providers, and end users and customers.

Software segment to exhibit highest CAGR in video surveillance market during forecast period

Software is projected to register highest CAGR in the video surveillance market, as software can integrate advanced analytics such as AI and machine learning that enhance the capability of video analytics regarding feature enhancement related to face recognition, anomaly detection, and more. Scalability and flexibility are ensured through cloud-based solutions, which reduce hardware costs of maintaining physical infrastructure and allow easy upgrades. Software has the potential to integrate with other systems and manage increasing volumes of data, leading to its growing adoption and investment. This greatly contributes to exponential growth in the software segment of the video surveillance market. Another key factor contributing to the growth of the software segment is the increasing use of AI and machine learning for real-time analytics. These techniques would provide sophisticated event detection with automated response methods, resulting in little human intervention. Overall, this tends to improve the efficiency of systems. Further evolution in AI will enable software platforms to predict or prevent security incidents, which offers the surveillance sector systems more proactive intelligence. Besides, the further development of smart cities and the Internet of Things will mean that it will be impossible to manage large networks of cameras and sensors without software. This will make approaches to urban security, traffic management, and infrastructure monitoring more holistic, increasing the demand for advanced surveillance software.

Commercial to be largest segment during forecast period

Advanced security solution investment will help protect assets, continuously monitor premises, and ensure employee safety. Increased regulations and compliance related to surveillance in commercial spaces further drive the growth. The incorporation of artificial intelligence and analytics in surveillance systems renders them more operationally effective; hence, they are very suitable for commercial purposes. Apart from this, the increasing need for real-time monitoring and concerns regarding theft, vandalism, and unauthorized access will also be major growth factors contributing to the higher market share by the commercial sector. The scalability, remote monitoring, and lower upfront cost of the cloud solution make it more applicable in the commercial sector than traditional on-premise systems. Commercial enterprises grow and expand at new sites; therefore, scaling surveillance becomes much easier without major additional investment in infrastructure. Also, with increasing artificially intelligent analysis in place, commercial spaces can now generate information such as heat mapping, customer behavior analysis, and automated alerts to spot suspicious activities. The multi-functional value of video surveillance in commercial applications makes it a major driver of the increasing market share in the sector.

Asia Pacific to dominate video surveillance market during forecast period

Rapid urbanization, significant investments in various smart city initiatives, and increasing crime rates drive the demand for intelligent security solutions, which is expected to give Asia Pacific the largest market share in the video surveillance market. The region is highly focused on technological innovations, such as the integration of AI and IoT, which has been a very strong factor in boosting market growth. Supportive government initiatives and regulatory frameworks also encourage the adoption of sophisticated surveillance technologies. These collective factors make the Asia Pacific the dominant player in the video surveillance market. With large and increasing infrastructure development, coupled with an enormous population base, demand will likely skyrocket for comprehensive systems that provide complete surveillance solutions, further strengthening the market position of Asia Pacific as a leading market. Increasing demand for high-definition and 4K surveillance cameras due to the need for advanced monitoring with perfect video clarity across highly populated urban areas drives growth in Asia Pacific. Increased infrastructure and expanding cities, among others, have increased the demand for an environment within which large areas were to be monitored with high-resolution video surveillance systems in countries such as China and India.

Video Surveillance Market by Region

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Key Market Players

Leading players operating in the video surveillance companies are Dahua Technology Co., Ltd (China), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Axis Communications AB. (Sweden), Bosch Sicherheitssysteme GmbH (Germany), and Hanwha Vision Co., Ltd. (South Korea), and others. Startups like Wyze (US), Eagle Eye Networks   (US), Spot AI (US), Rhombus AI (US) among others are manufacturing security cameras and also are focusing more towards video analytics.

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Scope of the Report

Video Surveillance Market Highlights

The study categorizes the video surveillance market based on the following segments:

Recent Developments

• In June 2024, Zhejiang Dahua Technology Co., Ltd. (China) announced a partnership with Clear Digital. (New Zealand) which aims to enhance Dahua's market presence and provide superior IP Surveillance hardware, Video Management Software, and security products across the region.
• In April 2024, Hanwha Vision Co., Ltd. (South Korea) collaborated with Allied Telesis, Inc. (US) to enhance interoperability, security, scalability, and simplified management. This development aims to create a complete solution for physical security and simplify network and IP camera management for security applications.
• In April 2024, HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.
  (China) launched Turbo HD 8.0 cameras, which offer two-way audio capability, making them suitable for use in real-time communication scenarios such as fences or door-to-door intercoms.
• In February 2024, Zhejiang Dahua Technology Co., Ltd. (China) partnered with Clear Digital. (New Zealand) with the aim of enhancing Dahua's market presence and providing superior IP surveillance hardware, video management software, and security products across the region.
• In January 2024, Hanwha Vision Co., Ltd. (South Korea) launched its AI-based radiometric thermal cameras, which offer a QVGA resolution and NETD (Noise Equivalent Temperature Difference).

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