Video Surveillance Systems Market Size, Share & Trends Analysis Report By Type (Hardware, Camera (Analog, IP Cameras, Hybrid), Storage, Software, Video Analytics, Video Management Software, Services), By End-User (Commercial, Infrastructure, Institutional, Industrial, Defense, Residential) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global video surveillance systems market size had a revenue holding of USD 61.58 billion in 2021. It is expected to reach USD 134.6 billion by 2030, growing at a CAGR of 10.27% during the forecast period (2022–2030).

Systems for video surveillance include one or more cameras linked to a network, which sends the recorded audio or video data to a particular place. Live to monitor or transmit the captured images to a central area for recording and storage. A video surveillance system comprises cameras, monitors/display devices, and recorders. Analog or digital cameras with various functions, including resolution, frame rate, color type, and others, are available. Whether deployed inside or outside the structure, it functions 24 hours a day, seven days a week, and is designed to record motion only when required. The placement of surveillance cameras may be prominent or concealed. The camera's goal is to dissuade inappropriate behavior, and the video footage can also serve as evidence for subsequent inspection by security personnel or criminal enforcement. Multiple corporate sectors are adopting video surveillance at a rapid rate, primarily due to the growing requirement for physical security and the use of cloud-based data storage services.

Globally, the need to improve safety and security in various industries is a major contributor to market expansion. As a result of significant advancements in cloud computing and video surveillance software, the surveillance market has evolved in contrast to the preceding decade. The development of new IP-based digital technologies to identify and prevent undesired behaviors such as stealing, thefts, vandalism, and terrorist acts is anticipated to drive the expansion of the video surveillance industry. Multiple industries use video surveillance, including the manufacturing, banking & financial services, transportation, and retail sectors. In addition, deploying video analytics and video surveillance cameras to identify potential criminals is anticipated to reduce the crime rate in many nations.

Market Dynamics

Global Video Surveillance Systems Market Driver

Increased Demand for IP Cameras to Favor Market Growth

In the early stages of video surveillance, analog cameras were utilized. However, the market transformed with the rising acceptance and usage of IP cameras. The quick switch from analog to IP cameras transformed the adoption of video surveillance solutions, bringing advancements in video analytics, neural networks, and crisper, higher-definition digital images. Since IP cameras send genuinely digital signals, they provide greater video detail, which makes them better suited for license plate recognition and facial recognition. Prices dropped due to the rise in production, which also increased adoption. It is possible to detect unexpected and unattended objects or parcels, line crossing, path tracking, and detecting "grab and run" occurrences with the integration of software solutions into video surveillance.

For real-time monitoring, companies like Dahua Technology, a video surveillance firm, have released a range of IP cameras with built-in face identification and facial recognition driven by deep-learning AI algorithms. As a result, accurate face capture and face attribute analysis are made possible for real-time monitoring, primarily in business parks, airports, schools, banks, and other crucial locations, causing the market for video surveillance to expand. In addition, the governments of many developing countries, including India, have been concentrating on public works initiatives, such as installing video surveillance systems for city surveillance, traffic monitoring, railways, and education. The necessity for IP cameras is being augmented by the rising need for contemporary security technology in industrial facilities to safeguard the safety and security of personnel.

Global Video Surveillance Systems Market Restraint

Privacy and Security Issues to Hinder Market Growth

Both public and private spaces use video surveillance equipment. A video surveillance system is deployed wherever safety is most significant, including highways, parks, transportation hubs, retail establishments, and financial and educational institutions. However, many civil liberties groups and activists have protested these video monitoring devices because they believe they violate people's privacy. People anticipate that their personal information will only be used for appropriate and particular purposes; therefore, there have been growing concerns about who views the video and how it might be abused. The general public is accustomed to seeing CCTV cameras on every street since many nations rely extensively on video surveillance to combat crime and prevent terrorism. Although such systems continue to have widespread support, they require intrusion into the daily lives of regular people and can cause privacy issues.

Global Video Surveillance Systems Market Opportunities

Technological Advances to Boost Market Opportunities

Businesses need a video surveillance system with analytical capabilities and smart surveillance cameras in the modern world. Realizing the advantages of video surveillance systems, companies will employ video analytics to stop, regulate, and prevent invasions and theft rather than just recording crime that occurs on-site. Cloud-based AI-based solutions are replacing traditional video surveillance technologies due to advancements in artificial intelligence (AI), peripherals, and 5G networks. With built-in features like human analytics, facial recognition, and retail analytics integrated directly into the camera using an AI-enabled chipset, this technology has advanced to a compelling and commercially viable level, enabling quick deployment and limitless scalability at corporate sites.

Significant businesses are investing in and focusing on developing new goods with built-in AI characteristics. For instance, Panasonic entered its regional market with the i-PRO S-Series security cameras in 2021. To support safe city efforts, the i-PRO S-Series was created. It enables the monitoring of rapidly changing environments, such as malls, parks, museums, airports, and train stations. These camera systems will become even more integrated as the need for intelligent video surveillance increases in public spaces, business buildings, public transportation, and other locations. Network cameras are connected to other systems and devices through the Internet of Things (IoT), transforming security monitoring into intelligent security and safety management. Further enhancements, including enhanced analytics, more powerful processing, and the expansion of open architectural technologies, have been made possible by new developments, like the advancements and wide acceptance of IP cameras.

Regional Analysis

By region, the global video surveillance systems market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific Holds Supremacy Over Others

Asia-Pacific will command the largest market share, growing at a CAGR of 10.8% over the forecast period. Countries such as China and Japan majorly contribute to the regional market. China's video surveillance market is primarily driven by the country's implementation of the smart city concept. To increase efficiency, sophisticated video surveillance systems have been integrated into local management. Yinchuan, China, is an advanced example of a smart city where everything, from buses to trash cans, is integrated into a single system.

Alibaba's "City Brain" project in Hangzhou, which combines camera systems and sensors around the city to collect real-time data on road conditions, was one of the first video surveillance-based systems to be developed. The data is supplied to an AI hub that handles traffic signals at 128 junctions and aids city officials in making quicker, more informed choices. According to the South China Morning Post report, China is progressing with a surveillance system that would connect security cameras nationally through the cloud to a database of every person's facial ID profile and a file of their personal information.

North America will likely generate USD 31 billion by 2030, growing at a CAGR of 10.1%. The United States and Canada contribute mainly to the region's market share. In the United States, private and commercial facilities, such as hotels, restaurants, and office buildings, are most likely to employ security cameras. Also, several American cities have been aggressive in installing surveillance equipment, notably Detroit, which placed cameras to monitor residents of public housing, and Baltimore, whose police force performed years of covert aerial surveillance of citizens. In addition to Detroit, Chicago, New Orleans, New York City, and Atlanta have also implemented plug-in monitoring networks. In some cities, private companies and residences give feeds connected to crime centers, allowing police access to live streams and recorded material. In addition, police in Connecticut have utilized video analytics to identify or track known or suspected drug dealers.

Segmental Analysis

The global video surveillance systems market is segregated by type, end-user, and region.

On the Basis of Type

By type, the global market includes Hardware, Software, and Services.

The Hardware section is projected to advance at a CAGR of 9.9% and hold the largest market share over the forecast period. Hardware is further sub-segmented into Camera and Storage. The Camera segment is the highest contributor to the hardware market. Cameras can be used for various video surveillance functions, such as automatic number plate recognition, scene monitoring, facial recognition, smoke detection, and remote video monitoring. Private businesses and houses are beginning to connect their cameras to police networks and are investing in CCTV networks powered by AI that can thoroughly monitor the public. Authentic and reliable video surveillance systems with sophisticated video processing abilities have been developed for prevention, detection, and intervention purposes.

The Software section will hold the second-largest market share. It is further sub-segmented into Video Analytics and Video Management Software. Video Analytics is the highest contributor to the segment. The segment has experienced numerous changes in bandwidth enhancements, network resources, and storage requirements. With the increase in demand for IP cameras and high-definition movies, there is a greater need for sophisticated video management software that maximizes efficiency via multicasting, multi-streaming, and video compression. Some suppliers of video analytics offer open-source platforms for entry-level video analytics applications.

On the Basis of End-User

By end-user, the global market includes Commercial, Infrastructure, Institutional, Industrial, Defense, and Residential.

The Commercial section will likely advance at a CAGR of 10.5% and hold the largest market share over the forecast period. Technologies like Verint Systems are gaining popularity in the commercial industry, particularly their advanced security solutions that use artificial intelligence (AI). These video solutions provide remote monitoring and extensive analytic capabilities, such as generating warnings based on predefined patterns or images indicating high-risk situations. Video surveillance is one of the most effective security measures for quick-service restaurants. In addition, introducing new companies is anticipated to satisfy market demand.

The Infrastructure section will hold the second-largest market share. The infrastructure includes roads, rail, airports, and stadiums. The video surveillance industry's technological breakthroughs have led to the creation of low-light-capable cameras with night vision. Infrastructure components, particularly roadways, require night-vision cameras to monitor traffic and record suspicious activity. These factors are anticipated to boost demand in the infrastructure sector.

Impact of covid-19

COVID-19 has positive and negative market consequences, as carbon emissions have decreased globally due to the lockout. COVID-19's reduction in emissions is a short-term benefit. Still, when industries and enterprises attempt to recoup some of their financial losses in the first quarter of the year, carbon emissions will rise dramatically. COVID-19 had a negative impact on global recycling efforts. Countries, notably the United States, have halted or decreased recycling programs to focus on collecting additional domestic waste or because services have been disrupted by the virus.

Also, with industries slowly returning to normalcy following the COVID-19 outbreak, this shift in workplace health and safety is expected to increase due to mandatory social distancing and continuous personal care through sanitization to eliminate even the tiniest possibility of COVID-19 spread. COVID-19 has impacted various companies' revenues, and if the lockdown is lifted, companies will turn their attention to operations to make up for their losses.

Recent Developments

• 2022 - Samsung Electronics Co. launched the Samsung Newsroom in Singapore, which will serve to be the official Samsung Electronics news source for local consumers and media.
• 2022 - Schneider Electric SE launched its omnichannel retail outreach called Schneider Electric SE Retail Pavilion in India.