The Global Video Surveillance Market size is expected to reach $165 billion by 2031, rising at a market growth of 12.3% CAGR during the forecast period.
Surveillance systems are vital in monitoring borders, military bases, and other sensitive areas, often incorporating advanced technologies such as thermal imaging, facial recognition, and motion detection. Thus, the military & defense segment procured nearly 1/4th revenue share in the market in 2023. This sector's substantial share results from the high-security requirements of military installations, defense infrastructure, and strategic assets. The increasing focus on national security and the integration of cutting-edge surveillance technologies in defense operations are key factors driving the growth of this segment.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In April, 2024, Hikvision revealed Turbo HD 8.0, a new analog security product. Turbo HD 8.0 delivers a more comprehensive and interactive security experience for users, enabling them to augment their visual security environment. The enhancements extend the range of Turbo HD products with two-way audio capabilities, compact dual-lens cameras with stitching technology, and Smart Hybrid Light capability across the entire range of Turbo HD cameras. Additionally, In October, 2023, Hikvision introduced ColorVu Fixed Turret (DS-2CE70DF0T-MF) and Bullet (DS-2CE10DF0T-F) Cameras, industry’s first 2 MP analog cameras featuring an F1.0 aperture. These innovative cameras offer high-quality, 24/7 color imaging with HD over analog cabling for easy upgrades, 3D Digital Noise Reduction (DNR) technology, and an impressive white light range.
The global shift towards improved security practices, driven by regulatory requirements and consumer preference for safety, has given rise to advanced video surveillance technologies. Surveillance systems are no longer limited to traditional CCTV setups; they include features like AI-powered cameras, facial recognition, and motion sensors. These advanced solutions cater to diverse sectors, including retail, hospitality, healthcare, and critical infrastructure, substantially boosting the market. In conclusion, increasing demand for security solutions in commercial and residential sectors propels the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
The Video Surveillance Market is highly competitive, driven by growing security concerns, advancements in AI and analytics, and increasing adoption of IoT-enabled devices. The market is characterized by a mix of established providers offering end-to-end solutions and niche players focusing on specific technologies such as facial recognition, cloud-based storage, and edge computing. Intense competition stems from rapid innovation in smart surveillance systems, integration of AI for real-time analytics, and rising demand for scalable and flexible solutions across sectors like transportation, healthcare, and retail. Pricing, technological innovation, and regional adaptability are key differentiators in this dynamic market.
Surveillance systems are vital in monitoring borders, military bases, and other sensitive areas, often incorporating advanced technologies such as thermal imaging, facial recognition, and motion detection. Thus, the military & defense segment procured nearly 1/4th revenue share in the market in 2023. This sector's substantial share results from the high-security requirements of military installations, defense infrastructure, and strategic assets. The increasing focus on national security and the integration of cutting-edge surveillance technologies in defense operations are key factors driving the growth of this segment.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In April, 2024, Hikvision revealed Turbo HD 8.0, a new analog security product. Turbo HD 8.0 delivers a more comprehensive and interactive security experience for users, enabling them to augment their visual security environment. The enhancements extend the range of Turbo HD products with two-way audio capabilities, compact dual-lens cameras with stitching technology, and Smart Hybrid Light capability across the entire range of Turbo HD cameras. Additionally, In October, 2023, Hikvision introduced ColorVu Fixed Turret (DS-2CE70DF0T-MF) and Bullet (DS-2CE10DF0T-F) Cameras, industry’s first 2 MP analog cameras featuring an F1.0 aperture. These innovative cameras offer high-quality, 24/7 color imaging with HD over analog cabling for easy upgrades, 3D Digital Noise Reduction (DNR) technology, and an impressive white light range.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal matrix; Cisco Systems, Inc. is the forerunner in the Video Surveillance Market. Companies such as Sony Corporation, Honeywell International, Inc., Panasonic Holdings Corporation and Robert Bosch GmbH are some of the key innovators in Video Surveillance Market. In May, 2024, Robert Bosch GmbH revealed FLEXIDOME 3100i camera, expanding the 3100i product range, providing dependable security while maintaining robust video analytics and data security. Featuring a discreet design, the new dome is well-suited for schools, office buildings, or other settings where inconspicuous surveillance is necessary. Available as an indoor model, with or without IR illumination, it offers enhanced flexibility to meet project needs. The IR illumination enables coverage of up to 30m (98ft) in low-light conditions.
Market Growth Factors
The shift to cloud-based surveillance is further accelerated by the growing trend of remote work and the increasing reliance on digital solutions for business operations. With employees working from multiple locations, the need for centralized and accessible security systems has grown, making cloud-based video surveillance a convenient and preferred option for businesses of all sizes. This trend is expected to continue as cloud infrastructure becomes more sophisticated and reliable, driving the market forward. Thus, the growing adoption of cloud-based video surveillance systems drives the market's growth.The global shift towards improved security practices, driven by regulatory requirements and consumer preference for safety, has given rise to advanced video surveillance technologies. Surveillance systems are no longer limited to traditional CCTV setups; they include features like AI-powered cameras, facial recognition, and motion sensors. These advanced solutions cater to diverse sectors, including retail, hospitality, healthcare, and critical infrastructure, substantially boosting the market. In conclusion, increasing demand for security solutions in commercial and residential sectors propels the market's growth.
Market Restraining Factors
The costs can be particularly steep for large-scale installations, such as in commercial sectors or public infrastructure projects. In addition to the hardware, there are recurring costs for system maintenance, software updates, and storage solutions. However, the reluctance to invest in high-cost systems persists, especially in regions with less stringent security regulations or limited awareness about the long-term benefits of surveillance technologies. Thus, the high initial setup costs act as a restraint to broader market penetration. Therefore, high initial installation and setup costs impede the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
Driving and Restraining Factors
Drivers
- Increasing Demand for Security Solutions in Commercial and Residential Sectors
- Growing Adoption of Cloud-Based Video Surveillance Systems
- Increasing Crime Rates Worldwide
Restraints
- High Initial Installation and Setup Costs
- Vulnerability to Cybersecurity Threats and Hacking
Opportunities
- Rising Demand for Smart City Initiatives and Infrastructure Development
- Increasing Need for Remote Monitoring and Access to Surveillance Systems
Challenges
- Integration and Compatibility Challenges with Existing Systems
- Limitations of Storage Capacity and Video Retention
System Type Outlook
Based on system type, the market is categorized into IP surveillance, analog surveillance, and hybrid surveillance. The hybrid surveillance segment witnessed 27% revenue share in the market in 2023. Hybrid systems combine analog and IP surveillance benefits, allowing organizations to integrate newer IP cameras into an existing analog-based infrastructure. This flexibility appeals to businesses looking to upgrade their surveillance systems without completely overhauling their current setups, making hybrid surveillance an attractive option for organizations with legacy systems.End User Outlook
By end user, the market is divided into commercial, military & defense, infrastructural, residential, and others. In 2023, the infrastructural segment held 19% revenue share in the market. This segment includes surveillance systems in critical infrastructure such as transportation hubs (airports, train stations), utilities, government buildings, and public safety systems. Surveillance in these areas is essential for monitoring traffic, ensuring public safety, and protecting vital infrastructure from potential threats. As cities become smarter and more connected, the need for robust surveillance systems to protect infrastructure and ensure safety has fueled the growth of the infrastructural segment in the video surveillance market.
Component Outlook
On the basis of component, the market is segmented into hardware, software, and services. In 2023, the hardware segment recorded 68% revenue share in the market in 2023. The widespread demand for surveillance cameras, sensors, recorders, and other physical equipment essential for video monitoring primarily drives this significant share. As businesses and governments invest heavily in security infrastructure, the need for advanced hardware to capture and store video footage continues to grow. Surveillance cameras, including IP cameras, digital cameras, and specialized devices such as thermal and night-vision cameras, are central to the market's growth.Hardware Outlook
The hardware segment is further subdivided into camera, monitor, storage, and accessories. In 2023, the camera segment attained 56% revenue share in the market. This segment's leading position is primarily driven by the growing demand for advanced surveillance cameras that offer high-definition video quality, smart features like motion detection, facial recognition, and integration with cloud-based systems. Cameras are the core component of any surveillance system, and the rise of smart cities, increased security concerns, and the adoption of surveillance in various sectors such as retail, transportation, and residential applications have contributed to the growth of this segment.Market Competition and Attributes
The Video Surveillance Market is highly competitive, driven by growing security concerns, advancements in AI and analytics, and increasing adoption of IoT-enabled devices. The market is characterized by a mix of established providers offering end-to-end solutions and niche players focusing on specific technologies such as facial recognition, cloud-based storage, and edge computing. Intense competition stems from rapid innovation in smart surveillance systems, integration of AI for real-time analytics, and rising demand for scalable and flexible solutions across sectors like transportation, healthcare, and retail. Pricing, technological innovation, and regional adaptability are key differentiators in this dynamic market.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed 39% revenue share in the market in 2023. This can be attributed to rapid urbanization, the growing adoption of smart cities, and the increasing demand for security solutions in countries like China, India, Japan, and South Korea. The region has seen significant investments in infrastructure development and heightened concerns over public safety, which have driven the demand for advanced video surveillance systems.Recent Strategies Deployed in the Market
- Mar-2024: Hikvision partnered with Can'nX, a leading enabler of automation solutions for commercial and residential buildings. The collaboration will enable Hikvision technologies to be integrated with the KNX protocol, the global standard for home and building automation. Integrators will enhance their building automation solutions by integrating Hikvision AI-enabled devices, such as cameras, into building systems, increasing the efficiency of building management and improving overall security.
- Jan-2024: Honeywell signed an agreement with Analog Devices, Inc., an American multinational semiconductor company, to explore the digitization of commercial buildings by upgrading to digital connectivity technologies without replacing existing wiring. This approach will help reduce cost, waste, and downtime. The strategic partnership aims to introduce this new technology to building management systems for the first time.
- Oct-2023: Canon India launched its latest range of 4K remote PTZ cameras at the 32nd Broadcast India Show, held at the Jio World Convention Centre, Mumbai. The new lineup includes the CR-N100 (indoor) and CR-X300 and CR-X500 (outdoor) models, designed for diverse broadcasting applications such as conferences, sports, wildlife observation, theme parks, and event spaces.
- Oct-2023: Teledyne FLIR LLC released FLIR Quasar Premium Mini-Dome AI, an AI-powered series of security cameras. The cameras within the series come in three models namely, 4K Narrow, 5 MP, and 4K Wide. The cameras within the range feature 12 distinct analytics algorithms used for detecting different objects.
- Sep-2023: Cisco Systems, Inc. took over Splunk, a US-based IT company. The acquisition would allow Cisco to integrate Splunk's portfolio with its AI portfolio which would drive AI-enabled security and observability.
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 Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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. Global Video Surveillance Market by System Type
Chapter 6. Global Video Surveillance Market by End User
Chapter 7. Global Video Surveillance Market by Component
Chapter 8. Global Video Surveillance Market by Region
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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