Global Surveillance Technology Market 2030 by Component, Technology, Enterprise Size, Application, End-user and Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints

The Surveillance Technology Market size is estimated to grow from USD 126.3 Billion in 2022 to reach USD 242.3 Billion by 2030, growing at a CAGR of 8.7% during the forecast period from 2023 to 2030.

Major players Surveillance Technology Market include: IBM Corporation, Cisco, Honeywell, Elliptic Enterprises Limited, Evolv Technologies Inc., ComplyAdvantage, Gilead Sciences Inc., Neurala Inc., Anduril Industries Inc., Quantexa Limited, Palantir Technologies Inc., Behavox Ltd. & others.

Increasing Global Safety through Crime Reduction and Advanced Innovations is boost the Surveillance Technology Market growth

The Surveillance Technology Market is experiencing significant growth across the globe due to several compelling factors. One of the primary drivers is the increasing need for safety in high-risk areas. With crime rates on the rise worldwide and varying in intensity across different countries, there is a growing demand for effective measures to combat criminal activities.

To address this challenge, surveillance technology has emerged as a crucial tool. By monitoring the behavior, activities, and information of individuals, locations, or objects, surveillance helps reduce the risk of crime. For instance, countries like China have invested heavily in public safety by deploying an extensive network of approximately 200 million cameras. This substantial surveillance infrastructure has contributed to a significant decrease in crime, as reflected in China's crime index of 37 for its massive population of 1.4 billion people.

Moreover, research studies have demonstrated the positive impact of surveillance systems on crime reduction. A study conducted by Cornell University and sponsored by Campbell Collaboration found that the use of surveillance cameras resulted in a remarkable 51% decrease in crimes committed in parking lots and a 23% decrease in crime on public transportation in New York. Such compelling evidence further encourages the adoption of surveillance technology to improve public safety and deter criminal activities.

Furthermore, the rise of smart software and advanced technologies in surveillance systems has contributed to the market's growth. These innovations have led to increased efficiency and reduced the need for constant human monitoring, resulting in cost savings associated with recording unrelated activities.

North America Dominated the Surveillance Technology Market during the forecast period

North America dominates the surveillance technology market due to a combination of technological prowess, market demand, and favorable conditions. The region is renowned for its advanced technological capabilities and innovation, with numerous leading tech companies and research institutions continuously pushing the boundaries of surveillance technology. This constant drive for innovation gives North American companies a competitive edge in developing cutting-edge surveillance solutions.

Moreover, North America faces up with a number of security and safety challenges, including terrorism, crime, and border security issues, all of which drive the demand for advanced surveillance systems. Governments in the region, particularly the United States, allocate significant budgets for defence and national security, leading to substantial investments in developing and acquiring advanced surveillance technology.

The region's strong industry players, such as Cisco, IBM, and Honeywell, have a dominant presence in the market, possessing abundant resources, expertise, and established distribution networks. Their market dominance further strengthens North America's position in the global surveillance technology landscape.

Privacy Concerns and the Emergence of Artificial Intelligence in the Surveillance Technology Market

The growth of the surveillance technology market faces challenges due to mounting concerns about privacy. As surveillance involves monitoring individuals in various ways, there are instances where organizations inadvertently compromise customer privacy or expose crucial confidential data. Moreover, the potential for criminal, personal, and institutional abuse exists within surveillance systems. Instances of camera operators using surveillance technology to spy on people and subsequently blackmail them with the footage from databases have been reported. There have also been cases of stalking, discriminatory targeting, and tracking of estranged spouses through these means. Consequently, growing privacy concerns act as a hindrance to the further expansion of the surveillance technology market.

To address some of these concerns and to enhance its capabilities, artificial intelligence (AI) is being increasingly integrated into the surveillance technology market. AI in surveillance technology allows for the analysis of video content, enabling more efficient and meaningful monitoring. For example, the application and web platform "Ella," developed by IC Realtime, utilizes advanced algorithms to analyze essential events within CCTV footage or video feeds. Unlike conventional video monitoring systems, Ella offers a smart search feature, allowing users to search for specific events in recorded videos. It can even recognize hundreds of natural language queries, making it easier to access relevant information. The adoption of artificial intelligence in the surveillance technology market represents a promising new trend that is likely to provide substantial growth opportunities for the industry.

The Surveillance Technology Market research report provides an in-depth overview of the industry including market segmentation by component, technology, enterprise size, application, end user, and region. Analysis of the global market with a special focus on high-growth applications in each vertical and fast-growing market segment. It includes a detailed competitive landscape with identification of the key players with respect to each type of market, in-depth market share analysis with individual revenue, market shares, and top player’s rankings. Impact analysis of the market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes. Competitive intelligence from the company profiles, key player strategies, and game-changing developments such as new product launches, collaborations, expansions, investment analysis, mergers, and acquisitions.

Surveillance Technology Market is segmented by region and further by countries, by component, technology, enterprise size, application, and end-user. Players, stakeholders, and other participants in the global Surveillance Technology Market will be able to gain a strong position as this report will surely benefit their marketing strategies. The market analysis focuses on revenue and forecast by region/countries and by application in terms of revenue forecast for the period 2023-2030.

The report further studies the market strategies of key players, recent development status, future plans, and surveillance technology market trends across the world. Also, it splits surveillance technology market segmentation by component, technology, enterprise size, application, end user, and region to deep dive research and reveals company profile and prospects.

Major Classifications are as follows:

• Surveillance Technology Market, Component
• Software
• Services

Surveillance Technology Market, By Technology

• Video Surveillance
• Camera
• Hybrid Camera
• Analog Camera
• IP Camera
• Big Data
• Personnel Body Cameras
• Biometrics,
• Domestic Drones
• Face Recognition Technology
• RFID Chips
• Stingray Tracking Devices

Surveillance Technology Market, By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

Surveillance Technology Market, By Application

• Payment & Settlement
• Data Security
• Data Sharing & Communications
• Asset Tracking & Management
• Others

Surveillance Technology Market, By End User

• BFSI
• IT & Telecom
• Manufacturing
• Healthcare
• Others

Surveillance Technology Market, By Geography

• North America
• US
• Canada
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia Pacific
• Rest of the World
• Middle East
• UAE
• Saudi Arabia
• Israel
• Africa
• South Africa
• Rest of Africa

Reason to Purchase this Surveillance Technology Market Report:

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• Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels that are driving the global Surveillance Technology Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Surveillance Technology Market.
• Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Surveillance Technology Market providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.

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