Overview and Scope
Video surveillance refers to using closed-circuit television (CCTV) cameras or similar video recording devices to observe and record activities within a defined area for security, safety, or monitoring purposes. The primary purpose of video surveillance is to enhance security, safety, and situational awareness by capturing visual information in real-time or recording it for later review.
Sizing and Forecast
The video surveillance market size has grown rapidly in recent years. It will grow from $60.51 billion in 2023 to $69.24 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to the increased focus on security, integration with IT networks, integration of mobile and wireless technologies, big data and analytics, the emergence of cloud-based storage solutions.
The video surveillance market size is expected to see rapid growth in the next few years. It will grow to $110.09 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to the emergence of cloud-based storage solutions, the widespread adoption of 5G technology, increasing use of edge computing, integration of artificial intelligence (AI) and machine learning (ML), growing focus on cybersecurity, integration with IoT devices. Major trends in the forecast period include edge computing for real-time analysis, artificial intelligence (AI) and machine learning (ML) integration, increased use of thermal imaging, cloud-based video storage and management, augmented reality (AR) integration.
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Segmentation & Regional Insights
The video surveillance market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By System Type: Analog Video Surveillance Systems, Internet Protocol (IP) Video Surveillance Systems, Hybrid Video Surveillance Systems
3) By Enterprise Size: Small Scale Enterprise, Medium Scale Enterprise, Large Scale Enterprise
4) By Applications: Residential, Commercial, Defense, Infrastructure
North America was the largest region in the video surveillance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video surveillance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Rising smart city projects are expected to propel the growth of the video surveillance market going forward. A smart city is a city that employs digital technology and data-driven solutions to improve its performance and well-being and reduce costs and resource consumption. The surge in smart city development is driven by cities aiming to leverage technology to tackle urban challenges and establish urban environments that are more habitable, sustainable, and efficient. Video surveillance in smart cities helps to enhance public safety by monitoring and analyzing real-time data, enabling faster responses to incidents, and promoting overall urban security and management. For instance, in April 2023, according to the Smart City Index Report published by IMD Business School, a Switzerland-based business school, the number of smart cities increased by 16.3%, from 118 cities in 2021 to 141 in 2023. Therefore, rising smart city projects are driving the growth of the video surveillance market.
Key Industry Players
Major companies operating in the video surveillance market are Sony Corporation, Panasonic Corporation, Honeywell International Inc., Johnson Controls International PLC, Hikvision Digital Technology Co. Ltd., Seagate Technology PLC, Motorola Solutions Inc., Teledyne FLIR LLC, Zhejiang Dahua Technology Co. Ltd., Hanwha Techwin Co. Ltd., Axis Communications AB, Verint Systems Inc., Zhejiang Uniview Technologies Co. Ltd., Vivotek Inc., Genetec Inc., Milestone Systems A/S, Pelco Incorporated, Bosch Security Systems GmbH, March Networks Corporation, Verkada Inc., Infinova Corporation, AV Costar LLC, IndigoVision Group plc, Geutebrück GmbH, Swann Communications Pty Ltd., CP PLUS GmbH & Co. KG, Lorex Technology Inc., Salient Systems Corporation
The video surveillance market report table of contents includes:
1. Executive Summary
2. Video Surveillance As A Service (VSaaS) Market Characteristics
3. Video Surveillance As A Service (VSaaS) Market Trends And Strategies
4. Video Surveillance As A Service (VSaaS) Market – Macro Economic Scenario
5. Global Video Surveillance As A Service (VSaaS) Market Size and Growth
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32. Global Video Surveillance As A Service (VSaaS) Market Competitive Benchmarking
33. Global Video Surveillance As A Service (VSaaS) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Video Surveillance As A Service (VSaaS) Market
35. Video Surveillance As A Service (VSaaS) Market Future Outlook and Potential Analysis
36. Appendix
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