The video surveillance market is projected to grow from USD 48.7 billion in 2022 to USD 76.4 billion by 2027; it is expected to grow at a CAGR of 9.4% from 2022 to 2027. Video surveillance systems are extensively deployed in a variety of settings, including public areas, public infrastructures, commercial buildings and more. Recent advances in signal processing enable the development of intelligent video surveillance systems, notably systems that can flexibly adapt the rate of video data collection. Surveillance and security solutions are increasingly incorporating on-board analytics to deliver data that can drive intelligent protection and monitoring. Hence, the role of on-board analytics is expected to continue to expand significantly in 2022 and beyond.
Although the video surveillance market is growing at a steady pace, the market is competitive among the players in the market. Key strategies adopted by top players to enhance their product portfolios, increase their market share and expand their presence in the market mainly include new product launches and product developments. For instance, In May 2022, Hikvision (China) released its new range of panoramic cameras with integrated ColorVu technology to provide vivid and full-color video imaging for a wide field of view in light conditions as low as 0.0005 lux: nearly total darkness. Hikvision integrated ColorVu into its panoramic cameras, which used the ‘image fusion’ algorithm to stitch together images from two side-by-side lenses for a seamless 180° view. In April 2022, Dahua Technology (China) announced new products that incorporate the latest in video technology. The lineup included new-and-improved versions of three of Dahua’s 8MP cameras, a 256-channel server, and a third-generation thermal hybrid camera series, offering high-quality, dual-lens. In March 2022, Axis Communications (Sweden) Axis Communications announced two new outdoor-ready bullet-style cameras AXIS M2036-LE and AXIS M2035-LE offering Axis excellence at an affordable price. These cameras featured deep learning processing units, enabling unique analytics opportunities based on deep learning on Edge.
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Dahua Technology (China) is one of the leading designers and manufacturers of video-centric smart IoT solutions. The company specializes in video surveillance technology in addition to its established businesses in machine vision, video conferencing systems, professional drones, electronic license plates, RFID, and robotics. The company has only one operating segment: Video IoT Industry. It provides security and surveillance solutions, advanced series of front-end and back-end display control systems, and intelligent transportation solutions. It also provides services with customized features and offers professional security and surveillance systems applicable across public security, finance, transportation, energy, communications, and various other industries. Dahua Technology has more than 200 domestic branches in China and 54 overseas branches, mainly covering Asia Pacific, North America, Europe, and Africa. Some of its subsidiaries are Zhejiang DahuaZwan Technology Co., Ltd. (China), Zhejiang Dahua Digital Technology Co., Ltd. (China), Zhejiang Dahua Technology Co., Ltd. (China), Dahua Technology USA Inc. (US), and Dahua Europe BV (Netherlands).
Hanwha Techwin is one of the leading manufacturers and providers of video surveillance solutions for security personnel, formerly known as Samsung Techwin. In 2015, Samsung Techwin was acquired by the Hanwha Group (South Korea) and renamed Hanwha Techwin. The company offers CCTV, IP & network, access control, door entry, intruder detection, and other security solutions. It is committed to providing world-class total security solutions designed to cater to the varying needs of customers; these include high-resolution equipment and intelligent technologies that can prevent crimes in advance and effectively respond to the emergence of new technologies. In addition, the company also offers several consumer-based video surveillance solutions through its WiseNet brand. Hanwha Techwin has a presence in Korea, the Americas, Europe, and Asia Pacific. The company’s subsidiaries include Samsung Opto - Electronics America, Inc. (US), Tianjin Samsung Techwin Opto- Electronics Co., Ltd. (China), Samsung Techwin (Europe) Ltd. (UK), Shanghai Samsung Techwin Co., Ltd. (China), Techwin Engineering Center (Japan), and Samsung Techwin Do Brasil Equipamentos de Seguranca Ltda. (Brazil).
Video Surveillance Market by Offering (Hardware (Camera, Storage Device, Monitor), Software (Video Analytics, VMS), Service (VSaaS)), System (IP, Analog, Hybrid), Vertical and Geography (North America, Europe, APAC, RoW) - Global Forecast to 2027
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