As per VirtueMarketResearch reports, the global video surveillance market size is expected to reach USD 70.2 billion by 2030 from USD 42.5 billion in 2022. The market is expected to grow with a CAGR of 10.3% from 2023 - 2030.
Industry Overview
Video surveillance is digital equipment that draws the images and videos which can be stored, compressed, and also be sent through communication networks. Video surveillance can be used in every near environment. Video surveillance is an old procedure with advanced technologies.
Video surveillance equipment is required to conduct organized surveillance across the industrial plants. In the present scenario, the video surveillance market is growing day by day and is increasing at a quicker rate. Video surveillance is an extremely valuable and cost-effective means to advance the security of the people, valuables, and buildings.
Market Drivers
The dramatic increase in the demand for security applications like video surveillance to monitor and record borders, corporate companies, ports, and many more influences the market positively. The rising installation of new video surveillance cameras with combined cloud and IoT technologies among public places, parks, and shopping centers elevates the market. The requirement for intelligent security systems and government initiatives has increased the video surveillance market.
The market players are increasingly investing in research and development activities to fuel the market development. The video surveillance systems are highly adopted across the infrastructure systems like municipal surveillance, transportation, public spaces, and utilities are electrifying market growth. Additionally, the competition has been on the rise leading to the reduction in the moderate selling price of the video surveillance cameras, spurring the market.
The increasing crime accidents with the growing demand for security levels resulted in the surging adoption of video surveillance systems worldwide. Mounting contests and low perforation of CCTVs play a prominent role in nurturing the demand for surveillance systems. Awareness in end-users and business people is hiking regarding the benefits of video surveillance systems is fueling the market during the period.
Market Restrains
However, installing video surveillance is high, hindering the market. Lack of technical expertise over handling IP cameras and the investment cost is expensive. These factors diminish the video surveillance market. The alternatives for video surveillance quickly changing technological environment and increasing fluctuations of private labels tend to affect the market players.
Recent Happenings
Segment Analysis
As per the reports, the global video surveillance market is based on Offering, System, and End-User.
Video Surveillance Market - By Offering
The industrial segment captured a 21.6% share in 2018. The industrial segment includes the automobile industry, construction, and manufacturing industry.
Regional Analysis
Asia-Pacific has achieved the largest share in the video surveillance market. The growing population across the major cities and investments in smart city projects increment the market growth. Moreover, the rise in the number of retail chains, small businesses, hospitality businesses, residential apartments along with government initiatives across diverse countries for installing video surveillance cameras in public places like schools, parks, holy places, cities, malls, and airports drive the market steadily.
The Chinese market for video surveillance is dominating the region
The Indian video surveillance market has witnessed important growth. In India, the video surveillance market has occurred steadily over the last 20 years. Moreover, the Indian government has taken several initiatives to install intelligent security systems like video surveillance systems.
The market for video surveillance in North America is estimated to exhibit extraordinary growth during the forecasted period. The growth in the region ascribes to the mounting demand for video surveillance across many end-users and high investments across the IP-based video surveillance systems.
In the U.S., the expenses on military and defense are mounting for handling safety and security. In addition, facial surveillance adoption is rising along with growing government initiatives about the mandatory installation of video cameras in public places like supermarkets, and liquor marts.
The European video surveillance market is prophesied to showcase a higher growth pace.
In 2017, Huawei introduced a surveillance system in the Northern French town of Valenciennes, including high-definition CCTV surveillance and a smart command center to recognize and detect unwanted crowd formation and activities. The factor results in the growing adoption of video surveillance solutions for various purposes throughout the region. ZTE Corporation, France, and the port city of Marseille together established big data public tranquility projects. Moreover, the project refers to a public surveillance network including some CCTV cameras and a brilliant operating center.
The Brazilian market for video surveillance is anticipated to reach USD 1.8 USD billion by 2022 in Latin America. The demand for remote access is multiplying, extending IT infrastructure, escalating IT expenses, and decreasing prices have advanced the IP surveillance systems in Latin America.
The Middle East and African markets are projected to experience an average growth in the global video surveillance market.
UAE video surveillance is scheduled to hold subsequent growth due to the increase in the constructor sector. Forthcoming hotels and shopping malls incorporated with surging strict government regulations about the necessary installation of video surveillance systems across the public areas signifies the UAE video surveillance market. The rising inflow of FDI in the construction and retail sectors led to social infrastructure growth.
In addition, UAE has appeared as one of the primary consumers of video surveillance systems across MEA. Dubai and Sharjah have majorly contributed to the region's dominance in UAE.
Saudi Arabia is the center of business for many market players across the market. A U.K based arms manufacturer, BAE Systems plc., has sold mass surveillance systems in Saudi Arabia.
South African market for video surveillance is projected to witness a CAGR of 4.0% from 2023 - 2030. Approved initiatives and government regulations along with upgrading the residential sector and significance on educational field increments the global video surveillance market.
Major vendors in the market
Following are some important market players:
1. Hikvision (China)
2. Dahua Technology (China)
3. Axis Communications (Sweden)
4. Bosch Security and Safety Systems (Germany)
5. Hanwha Techwin (South Korea)
6. Avigilon (Canada)
7. Teledyne FLIR (US)
8. Honeywell International; (US)
9. Panasonic i-PRO Sensing Solutions (Japan)
10. Pelco (US)
11. Uniview (China)
12. Agent Video Intelligence (US)
13. CP PLUS (India)
14. Genetec (Canada)
15. Huawei Technologies (China)
16. NEC (Japan)
17. NICE Systems (Israel)
18. Qognify (US)
19. Tiandy Technologies (China)
20. VIVOTEK (Taiwan)
21. MOBOTIX (Germany)
22. Morphean (Switzerland)
23. Verkada (US)
24. Camcloud (Canada)
25. Ivideon (US).
COVID-19 Impact On Video Surveillance Market
The sudden rise of the new and hazardous infectious disease has brought the world to a layoff. During the first quarter of 2022, the rising number of COVID cases has led to severe lockdown restrictions. Lockdown has resulted in the closure of schools, and other educational institutions. The rising COVID cases have disrupted many businesses. The Information Technology field has also experienced many fluctuations globally.
China is the center for producing surveillance equipment. With the surveillance production, China has seen a decline in producing the equipment because of the shortage of workforce.
Moreover, the continuous rise in the pandemic has raised prominent challenges for the functioning of different industries owing to the restrictions and strict measures to avoid the virus from spreading. For instance, the Chinese government had installed CCTV cameras at the apartment doors of the COVID infected patients to monitor their movement during their 14-day quarantine period.
However, suspicions increased ascribed due to the COVID-19 in economic fall by creating a hindrance in the construction projects with contractions in the funds allocated for infrastructural projects which have negatively affected the video surveillance cameras during 2022.
Global automotive lighting refers to all vehicle lighting systems, from headlamps that illuminate the road to taillights that communicate movements. They guarantee motorists and other road users alike safety, visibility, and style. While taillights frequently use LEDs for improved visibility, headlights are available in a variety of technologies, including LED and laser. Interior illumination, DRLs, and signal lights all have a role to play. This market, which was estimated to be worth $33.64 billion in 2022, is anticipated to rise to $67.39 billion by 2030 because of laws, luxury tastes, safety concerns, and technological developments like OLED taillights and adaptive headlights. Anticipate a future dominated by intelligent, connected, personalized, and sustainable lighting systems that enhance the safety, efficiency, and aesthetic appeal of automobiles.
Car lighting works its magic to provide safety, visibility, and style. Headlights cut through the night, taillights express intent, and interiors shine with comfort. The billion-dollar global business is expected to rise due to consumer demand for high-end experiences, safer roads, and cutting-edge technology. Imagine dynamic messages being painted by taillights, headlights that adjust to the road, and interiors that customize their atmosphere. Driven by technological advancements like linked systems and laser beams, this future is calling. Anticipate even more visually attractive, environmentally friendly, and intelligent lighting to illuminate the way ahead, making cars safer, more efficient, and unquestionably cooler.
In the market for automobile lighting, safety is the driving force behind demand from the public and laws. While automated high beams smoothly react to traffic, adaptive headlights modify their beams so as not to blind other people. With visually striking displays, dynamic taillights convey intentions for braking and turning. Beyond these developments, integrated pedestrian identification and lane departure alerts will soon make roads safer and brighter for everyone.
Luxurious automobile lighting creates a distinct visual identity that goes beyond simple illumination. Personalized interior lighting customizes the driving experience by setting the mood with a range of colours and intensities, while intricate designs and distinctive DRLs modify exteriors. As you approach your automobile at night, welcoming lights lead the way, resulting in an interior that is perfectly lit. Not only is this symphony of light aesthetically pleasing, but it also stands as a tribute to luxury. Upcoming developments like gesture-controlled lighting and holographic displays promise to further enhance the experience.
The worldwide automotive lighting market is undergoing a significant transition towards energy-efficient solutions, as environmental concerns gain prominence. LED technology is leading the way, providing a ray of hope for the environment and drivers alike. LED lights beam brighter and use a lot less energy than conventional halogen lamps. There are some tangible advantages to this. For drivers, this translates to increased fuel economy, which lowers petrol prices and lessens reliance on fossil fuels. Greater air quality and a reduction in the transport sector's contribution to climate change are the results of reduced overall emissions.
Although the global automotive lighting business is booming, there are still unknowns. Difficulties impede growth even as innovation propels it with eye catching features like laser beams and adaptable headlights. These technologies are luxury items due to their high cost and difficult integration, which puts producers' abilities to the test. The worldwide patchwork created by unclear legislation limits the potential of innovation. Durability issues persist, particularly when complex systems are subjected to challenging conditions. Ultimately, a lot of drivers still don't fully understand how these improvements can help them. Together, we can overcome these obstacles. The keys to reducing costs are improved production, more seamless integration, and unified regulations. Their full potential can be realized by educating customers about the safety, efficiency, and aesthetic value of these lighting wonders. By working together, we can pave the way for an even brighter and safer future for vehicle lighting.
It is made possible by advanced LED technology, which gives drivers the ability to customize their illumination for the highest level of comfort and flair. Consumers that care about the environment want greener products, and vehicle lighting complies. While solar- and self-powered lighting technologies offer a future powered by clean energy, energy-efficient LEDs lower pollution. The advent of connected lighting systems heralds a new age. Envision automobiles interacting with infrastructure and one another to minimize accidents and enhance traffic efficiency. Integrated headlights with pedestrian recognition provide unmatched safety, while dramatic taillights with eye-catching displays alert onlookers to your intentions. The possibilities are endless in the future. Gesture-controlled interior illumination, holographic displays projected onto the road, and even light fixtures with self-healing capabilities.
Due to laws requiring safety features like headlights, taillights, and brake lights, exterior lighting presently holds the most market share in the vehicle lighting industry. The dominance of this market is partly attributed to advancements in safety-focused technologies such as adaptive headlights and daytime running lights. The market value of external lighting is increased by the quick adoption of technology like LED bulbs and laser lights, which improve performance and aesthetics. Conversely, the interior lighting market is expected to increase at the fastest rate in the upcoming years. Innovations like ambient lighting and technology breakthroughs like LED and OLED displays, driven by consumer demand for comfort and personalisation, open new possibilities. The spread of sophisticated interior lighting systems is further driven by the growing emphasis on safety and the expansion of the luxury car market.
The worldwide vehicle lighting market is currently dominated by halogen because of its more affordable price, advanced technology, and useful illumination. With its dependable supply chain and affordable option for manufacturers and cost-conscious customers, halogen holds the biggest market share. The fastest-growing market right now is LEDs, which are predicted to shortly overtake halogen. The rapid expansion of LEDs is driven by their higher efficiency, longer lifespan, flexibility in design, and technological breakthroughs including enhanced brightness. Because LEDs use less energy and produce fewer emissions and better fuel economy, they are becoming more and more popular in the changing automotive lighting market.
Passenger automobiles rule the worldwide automotive lighting market. The sheer number of passenger cars produced which surpasses that of business vehicles and fuels the need for lighting systems is the primary cause of this popularity. The growing demand for personal automobiles in developing nations is a result of rising disposable income, which in turn drives the rise of the passenger car market. The importance that consumers place on safety and aesthetics elements helps to drive market expansion. But in the upcoming years, the market for electric and hybrid cars is expected to develop at the quickest rate. The exponential rise of the worldwide electric car market, which is still expanding and shows no signs of slowing down, is what is driving this surge. Specialised lighting solutions are required since electric and hybrid vehicles have different lighting requirements because of their specific functionality and design aesthetics.
Most lighting systems sold nowadays are sold by OEMs (Original Equipment Manufacturers), primarily because manufacturers pre-install lighting systems in new cars. But in the next years, the aftermarket is expected to develop at the quickest rate. This spike in demand for replacement parts, especially lighting systems, can be linked to several variables, one of them being the average age of cars. The industry is expanding because of consumers' growing desire to personalise their cars with aftermarket lighting upgrades such LED upgrades and decorative lighting. The availability and affordability of technologies like adaptive headlights and laser lights in the aftermarket, together with other advancements in lighting technology, are driving demand even more. Moreover, the growing market for electric cars (EVs).
Throughout the forecast period, Asia Pacific is anticipated to be the automotive lighting market with the highest profitability. Over the past few years, Asia Pacific countries like China and India have seen notable increases in automotive manufacturing and sales, primarily in the medium-to premium luxury car segment. Asia Pacific is predicted to see an increase in the manufacturing of passenger cars, with India experiencing the strongest growth rate. Depending on the state of the national economy, the area offers a suitable selection of both high-end and cheap cars. For instance, there is a substantial demand for halogen, Xenon/HID, and LED since China and India produce more economy and mid-range automobiles. On the other hand, luxury car adoption rates are greater in South Korea and Japan, where LED lighting is the norm.
A brief shadow was thrown by COVID-19 over the worldwide automotive lighting market. Production was stopped by lockdowns and supply chain disruptions, while luxury lighting upgrades were shelved by consumers on a tight budget. Resources became scarce, and R&D stagnated. Still, the market is recovering thanks to resurgent demand and rearranged priorities. While energy-efficient LEDs are being pushed towards adoption by sustainability, safety concerns are driving interest in features like pedestrian detection and adaptive headlights. The digital push of the epidemic creates opportunities for intelligent, networked lighting systems that may interact with infrastructure and other cars. Ultimately, the industry is positioned to shine brighter, focused on safety, sustainability, and a connected future, even though the pandemic dimmed its brilliance.
A development collaboration between OSRAM Continental and REHAU aims to incorporate lighting into external components, providing automobile manufacturers with innovative lighting options that improve functionality and design flexibility. For rear combination lamps, Hella unveiled a revolutionary lighting innovation called Hella FlatLight technology. A Memorandum of Understanding (MoU) was signed by Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a division of Motherson Group, and Marelli Automotive Lighting to investigate a technology collaboration focused on intelligently lighted external body components. Valeo debuted their revolutionary 360° lighting system at the Shanghai Auto Show. This technology surrounds the car with a band of light, projecting instantaneous, clear signs that other drivers can see from a distance. Pedestrians, cyclists, and scooter riders are especially susceptible to these signals
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