The North America Video Surveillance Market is expected to witness market growth of 11.6% CAGR during the forecast period (2024-2031).
The US market dominated the North America Video Surveillance Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $34.42 billion by 2031. The Canada market is experiencing a CAGR of 12.9% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 12.7% during 2024-2031.
Video surveillance systems, commonly known as CCTV (closed-circuit television), have become integral to modern security infrastructure. Initially employed to monitor sensitive or restricted areas, video surveillance has expanded to various residential, commercial, industrial, and governmental applications. As the demand for security solutions increases worldwide, the video surveillance market has experienced significant growth, driven by technological advancements and increasing concerns related to safety and security.
The video surveillance market encompasses the technologies used to monitor, record, and analyze real-time or stored video footage. These systems help ensure assets, people, and infrastructure safety and security. With a focus on continuous monitoring and the ability to record incidents for future reference, video surveillance plays a critical role in crime prevention, safety management, and emergency response.
The alarming vehicle theft rate in the United States, with over 1 million vehicles stolen in 2022, has underscored the necessity for robust surveillance measures. The financial impact, with vehicle owners losing more than $8 billion, highlights the economic burden of this crime. The fact that driver error accounts for approximately half of these thefts indicates a need for enhanced preventive measures, including video surveillance.
Passenger cars, which constitute more than 74% of all stolen motor vehicles, are a primary target for thieves. This has led to an increased adoption of video surveillance systems in parking lots, residential areas, and public spaces. Surveillance cameras provide continuous monitoring and can capture crucial details that aid in recovering stolen vehicles and apprehending perpetrators. Additionally, advancements in video analytics, such as license plate recognition (LPR) and facial recognition technologies, have further strengthened the capabilities of surveillance systems in combating vehicle theft. In conclusion, the rising rates of theft and motor vehicle theft in Canada and the United States are significant drivers for the growth of the video surveillance market.
The US market dominated the North America Video Surveillance Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $34.42 billion by 2031. The Canada market is experiencing a CAGR of 12.9% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 12.7% during 2024-2031.
Video surveillance systems, commonly known as CCTV (closed-circuit television), have become integral to modern security infrastructure. Initially employed to monitor sensitive or restricted areas, video surveillance has expanded to various residential, commercial, industrial, and governmental applications. As the demand for security solutions increases worldwide, the video surveillance market has experienced significant growth, driven by technological advancements and increasing concerns related to safety and security.
The video surveillance market encompasses the technologies used to monitor, record, and analyze real-time or stored video footage. These systems help ensure assets, people, and infrastructure safety and security. With a focus on continuous monitoring and the ability to record incidents for future reference, video surveillance plays a critical role in crime prevention, safety management, and emergency response.
The alarming vehicle theft rate in the United States, with over 1 million vehicles stolen in 2022, has underscored the necessity for robust surveillance measures. The financial impact, with vehicle owners losing more than $8 billion, highlights the economic burden of this crime. The fact that driver error accounts for approximately half of these thefts indicates a need for enhanced preventive measures, including video surveillance.
Passenger cars, which constitute more than 74% of all stolen motor vehicles, are a primary target for thieves. This has led to an increased adoption of video surveillance systems in parking lots, residential areas, and public spaces. Surveillance cameras provide continuous monitoring and can capture crucial details that aid in recovering stolen vehicles and apprehending perpetrators. Additionally, advancements in video analytics, such as license plate recognition (LPR) and facial recognition technologies, have further strengthened the capabilities of surveillance systems in combating vehicle theft. In conclusion, the rising rates of theft and motor vehicle theft in Canada and the United States are significant drivers for the growth of the video surveillance market.
List of Key Companies Profiled
- Honeywell International, Inc.
- Cisco Systems, Inc.
- Axis Communications AB (Canon, Inc.)
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Panasonic Holdings Corporation
- Robert Bosch GmbH
- Teledyne FLIR LLC
- Sony Corporation
- Zhejiang Dahua Technology Co., Ltd.
- Swann Communications Pty. Ltd. (Infinova Group)
Market Report Segmentation
By System Type
- IP Surveillance
- Analog Surveillance
- Hybrid Surveillance
By End User
- Commercial
- Military & Defense
- Infrastructural
- Residential
- Other End Users
By Component
- Hardware
- Camera
- Monitor
- Storage
- Accessories
- Software
- Video Analytics
- Video Management Software
- Services
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Video Surveillance Market by System Type
Chapter 6. North America Video Surveillance Market by End User
Chapter 7. North America Video Surveillance Market by Component
Chapter 8. North America Video Surveillance Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Honeywell International, Inc.
- Cisco Systems, Inc.
- Axis Communications AB (Canon, Inc.)
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Panasonic Holdings Corporation
- Robert Bosch GmbH
- Teledyne FLIR LLC
- Sony Corporation
- Zhejiang Dahua Technology Co., Ltd.
- Swann Communications Pty. Ltd. (Infinova Group)
Methodology
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