Video Surveillance Market Size (2023 - 2030)

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

• On March 08, 2022, Hikvision released a new version of 2nd Generation Value IP cameras and Acusense NVRs. NVRs are network video recorders. The new launch of Value IP G2 cameras combines 4K Ultra High Definition performance with developed Acusense technology.
• On September 30, 2022, Dahua Technology exhibited DeepHub smart interactive whiteboard for combined and effective video conferencing. The device is designed for modern meeting rooms and remote communication demands. 
• On December 10, 2022, Avigilon launched its improved enterprise facial biometric with facial recognition. Its AI-powered facial recognition video software helps commercial organizations recognize people of interest.

Segment Analysis
As per the reports, the global video surveillance market is based on Offering, System, and End-User.
Video Surveillance Market - By Offering

• Hardware
• Software
• Service
  The hardware segment is projected to hold the largest share during the foreseen period. The segment accounts for more than 61% of the total price of video surveillance systems. Developments in technology have resulted in extensive specialized surveillance cameras that can be arranged to zoom-in scan items like hazardous equipment. 

Video Surveillance Market - By System

• Analog Video Surveillance Systems
• IP Video Surveillance Systems
  IP-based video surveillance systems are leading the market with prominent growth across the global market. Demand for high-security cameras increases and mandatory government regulations have boomed the IP surveillance systems market. 

Video Surveillance Market - By End-User

• Commercial
• Infrastructure
• Military &Defense
• Residential
• Public Facility
• Industrial
  The commercial end-user segment accounts for the largest share in the video surveillance market. The commercial segment has a huge demand for video surveillance and has risen considerably. The commercial end-user growth owes to the rising use of video surveillance systems in applications like malls, retail stores, hospitality centers, warehouses, banking, and financial buildings. 

        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.