Surveillance Technology Global Market Report 2024

The surveillance technology market size has grown rapidly in recent years. It will grow from $148.29 billion in 2023 to $169.05 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The historical growth in the surveillance technology sector can be credited to the heightened utilization of mobile surveillance technology systems, the integration of video surveillance with access control and alarm systems, the expansion of emerging markets, and the increased adoption of video surveillance systems in educational institutions.

The surveillance technology market size is expected to see rapid growth in the next few years. It will grow to $301.61 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The anticipated growth in the forecast period can be ascribed to the cost-effectiveness of investment with Video Surveillance as a Service (VSaaS), the upsurge in government surveillance initiatives, the escalating adoption of surveillance technology within the hospitality sector, and an increase in data security breaches. Prominent trends expected during the forecast period encompass the introduction of new products, a strategic emphasis on merger and acquisition activities, a concerted focus on integrating artificial intelligence (AI) into surveillance technology, an emphasis on partnerships and collaborations, a dedicated focus on advanced biometric surveillance control systems, and a spotlight on leveraging the Internet of Things (IoT) in surveillance technology.

The increasing demand for safety in high-risk areas has significantly contributed to the expansion of the surveillance technology market. The global crime rate is on the rise, exhibiting variations across different countries. Surveillance technology plays a crucial role in monitoring behavior, activities, or information to mitigate the risk of crime. For example, China employs 200 million cameras for public safety, and according to the World Population Review, the crime index stands at 37 for a population of 1.4 billion in China. A study sponsored by Campbell Collaboration at Cornell University revealed that the use of surveillance cameras led to a 51% reduction in crimes in parking lots and a 23% decrease in crime on public transportation in New York. The increasing need for safety in high-risk areas has become a driving force in the surveillance technology market.

The ongoing initiatives for smart cities are anticipated to further propel the growth of the surveillance technology market. Smart city initiatives involve urban development projects that leverage technology and data to enhance residents' quality of life, improve urban infrastructure, and make cities more efficient, sustainable, and livable. Surveillance technology plays a pivotal role in smart city initiatives by enhancing public safety, optimizing traffic management, and contributing to overall urban planning. According to reports from Springer, global spending on smart city initiatives is projected to reach $189.5 billion by 2023, reflecting an increase from the previous year. Consequently, the growth of smart city initiatives is a key driver for the surveillance technology market.


The integration of Artificial Intelligence (AI) is becoming increasingly prevalent in the surveillance technology market. AI in surveillance technology is employed to analyze video content, discerning crucial events within CCTV footage or video feeds. A notable example is the application and web platform named Ella, developed by IC Realtime, utilizing advanced algorithms to analyze significant events in video footage. Unlikeas many video monitoring systems, Ella features a smart search option that allows users to search for specific events within recorded videos, recognizing hundreds of natural language queries. The adoption of artificial intelligence represents a burgeoning trend in the surveillance technology market, offering growth opportunities.

Major companies within the surveillance technology market are actively developing innovative technologies, such as video surveillance, tailored for healthcare environments to enhance patient care and reduce costs. Cloud-based solutions, such as innovative video surveillance technology, enable healthcare providers to remotely monitor multiple patients simultaneously and respond promptly to emergencies. In May 2023, Milestone Systems, a Denmark-based system software company, introduced groundbreaking video surveillance technology for healthcare environments, providing a valuable tool for organizations of all sizes. This technology enhances security, safeguards people and property, and reduces operational costs, incorporating features such as deep learning, edge computing, and high-resolution cameras to enhance the healthcare environment.

In March 2022, Unlimited Technology Inc., a US-based IT service management company, completed the acquisition of Integrated Security Technologies Inc. for an undisclosed amount. This strategic move aims to expand Unlimited Technology's geographic reach, enhance its portfolio of services, and tap into Integrated Security Technologies Inc.'s customer base. Integrated Security Technologies Inc. is a US-based provider of integrated security solutions, encompassing access control, video surveillance, and intrusion detection.


Major companies operating in the surveillance technology market report are Canon Inc., Motorola Solutions, AxxonSoft, Genetec, Qognify Inc, NEC Corporation, Honeywell International Inc., Verint Systems, March Networks, Identiv, Matrix comsec, SecurAX Tech Solutions Pvt Ltd., AMAG Technology Inc., CloudWalk Technology Co Ltd., Shenzhen IntelliFusion Technology Co Ltd., NetPosa Technologies Ltd., Haimeng, Jin Ruan, Ruitec, Goldeweb, HID Global, Gallagher Security (Europe) Ltd., Vanderbilt Industries, Assa Abloy Emea, Dahua Technology Ltd., British Security Industry Association (BSIA), Fermax Electronica SAU, Delta Scientific Corporation, Userful Corporation, Anviz Global Inc., Vicon Industries, OnSSI, Packetlabs Ltd., Cyber Unit, Vumetric Cybersecurity, Cloudkeyz, ButterflyMX, Johnson Controls, Security Enhancement Systems, Openpath, Genea, Sequr Inc., Agility Technologies Corp (ATC), Wolpac, Control iD , Avigilon Corporation, 2point0 Concepts, DSX Access Systems, Inc., Evolv Technology, Al Nahr Company for Security Solutions, AL Smari Trading, Ametrad Technology Services Co , Biosec Solutions, BIO-key, BioRugged (Pty) Ltd.

Asia-Pacific was the largest region in the surveillance technology market in 2023. North America was the second largest region in the global surveillance technology market share. The regions covered in the surveillance technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the surveillance technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary categories within the surveillance technology market include video surveillance, big data, police body cameras, biometrics, domestic drones, face recognition technology, RFID chips, and stingray tracking devices. Biometrics involve the use of behavioral and physical human characteristics for digital identification, allowing access to systems, devices, or data. This technology is utilized across various industries, including BFSI, government, healthcare, manufacturing, retail, IT, telecommunications, media, entertainment, and education. The storage of this technology can occur both on-premise and in the cloud.

The surveillance technology market research report is one of a series of new reports that provides surveillance technology market statistics, including surveillance technology industry global market size, regional shares, competitors with a surveillance technology market share, detailed surveillance technology market segments, market trends and opportunities, and any further data you may need to thrive in the surveillance technology industry. This surveillance technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The surveillance technology market includes revenues earned by entities by providing surveillance solutions that are used to monitor a place, person or object in a particular geographical location. Surveillance systems are utilized for monitoring activities of workers, traffic and potentially illegal activities. Surveillance technology includes surveillance systems based on video, audio or biometrics. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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