At 10.9% CAGR, Video Surveillance Market Size to hit USD 104.38 Billion by 2028, Says Brandessence Market Research

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Brandessence Market Research And Consulting Private Limited

Mar 03, 2022, 06:28 ET

LONDON, March 3, 2022 /PRNewswire/ -- According to Brandessence Market Research, The Global Video Surveillance Market size reached USD 50.59 Billion in 2020. Our analysts predict that the Video Surveillance Market size is set to grow at robust CAGR of 10.9% CAGR during the 2021-2028 periods, reaching a total of USD 104.38 Billion by 2028 end. Increasing need of safety in high-risk areas, surge in transition from analog surveillance to IP cameras, and integration of Internet-of-Things are some of the major factors driving the growth of the Global Video Surveillance Market.

Artificial intelligence and the rise in its adoption all over the world has been among the biggest drivers of growth for the video surveillance market size. It has been stated various times that a large chunk of the countries has now shifted to using artificial intelligence and are using it for many purposes such as surveillance and security along with facial recognition system and smart citing as well as the other purposes. A big driver of the growth recently has been the need for the facial recognition devices something that has been used by quite a lot of applications. This coupled with the various initiatives of creating smart cities all over the world has been contributing in the growth of the global market. A major setback though arrived when the COVID-19 pandemic hit the world. The biggest reason for the big impact was the fact that the pandemic initiated in China which was among the biggest hub for the equipment required in video surveillance. Further, the demand also faced an impact with countries going into lockdown and not needing the video surveillance equipment as much as they did. With almost all the regions in lockdown at different time during the pandemic, the video surveillance market faced a huge setback. Also affected was the trade that used to take place between two countries which in the pandemic seized to take place and a lot of the equipment traded cross-border was obstructed. The global market would have grown a lot more if this incident had not happened.

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Scope of The Video Surveillance Market Report:

The global video surveillance market has been on an upward curve in the recent past as there is a surge in the application of many deep learning technologies. The need starts from the demand for video analytics and how it has been put to use in the recent past. This is something that has the ability to drive the use of a video surveillance software in imminent and distant future. In the last few years, the global market has increased sizably with the demand coming from regional and global sources which aren't just driven by corporations but also the government agencies which need surveillance. The sectors such as commercial, residential and industrial are all going to create demand for the product and hence boost the video surveillance market in future growth.

Key Players of Video Surveillance Market:

  • Hikvision
  • Dahua Technology
  • Axis Communications
  • Bosch Security and Safety Systems
  • Hanwha Techwin
  • Avigilon
  • Teledyne FLIR
  • Honeywell International
  • Panasonic i-PRO Sensing Solutions
  • Pelco, Uniview
  • Agent Video Intelligence
  • CP PLUS
  • Genetec
  • Huawei Technologies
  • NEC
  • NICE Systems
  • Qognify
  • Tiandy Technologies
  • VIVOTEK
  • MOBOTIX
  • Morphean
  • Verkada
  • Camcloud
  • Ivideon

Companies in the global video surveillance market have been heavily investing in the market with the need for video analytics. Analyzing every video surveillance growth and forecast report they can get their hands on, they see a lot of growth potential in the coming years. Some of the major players in the industry as of now are Avigilon Corporation, BCDVideo, Dahua Technology Co., Ltd. Axis Communications AB, Hangzhou Hikvision Digital Technology Co., Ltd, Bosch GmbH, Huawei Technologies Co., Ltd, Panasonic Corporation, Pelco, Honeywell International, Inc, FLIR Systems, Inc. Companies invest heavily in innovation and making the devices more affordable by reducing the cost of making the software. With a lot of these innovative products being launched with a lot of promotions, the companies also invest on innovative ways to market and fulfill the demands for the consumer bases which have been growing. They have been striving hard for getting bulk orders from the giants in the industries and particularly from public places and tourist destinations for setting up the in-house systems that provide aid in securing the spots. A few developments recently included the latest 30 series IP cameras which were launched by Honeywell. The cameras are capable of using channel encryption along with advanced analytics to secure buildings and develop safer infrastructure. High resolution security systems were also delivered by the Division USA Inc. for the modernization Battleship North Carolina which is an important place in Wilmington. 

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Segmentation Analysis:

The segmentation of the global video surveillance market has been segregated on the basis of the end users into residential, industrial commercial and government sectors. The video surveillance market trends have shown that while all the segments have a sizable share in the market, the maximum share belongs to the industrial segment.

The primary reason for that can be the demand which is there in the manufacturing sector. The sector suffers greatly from issues such as theft of raw materials and other such issues and therefore there has been a need to make sure that the materials kept in the manufacturing industries are kept safe. The industrial segment is also one which is growing the fastest and a big driver here is also the automobile industry which requires video surveillance. The industries that are really susceptible to theft and vandalism are the sector such as copper wires, steel and the optical fibers. Also at risk are the expensive machines which have been installed by these factories. Video surveillance has to be all pervasive and needs to be installed all throughout the plants. Government sector also is growing along with the residential sector because of the need for safety which has arisen off late. 

By Offering:

  • Hardware
  • Software
  • Service
  • Others

By System:

  • Analog Video Surveillance Systems
  • IP Video Surveillance Systems

By Vertical:

  • Commercial
  • Infrastructure
  • Military & Defense
  • Residential
  • Public Facility
  • Industrial
  • Others

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Recent Developments

News- Wasabi Technologies Partnered with Axis Communications

On February 1st, 2022; Wasabi Technologies, the hot cloud storage company, partnered with Axis Communications, the industry leader in network video, to deliver cloud storage for AXIS Camera Station (ACS) VMS. This breakthrough solution combines the strength of Axis' industry-leading video technology and Wasabi's unlimited scalability and disruptively low, predictable cost to help organizations optimize their modern video surveillance deployments and more effectively manage evolving high-definition environments and longer retention periods.

Hikvision Launched AcuSense Audio and Strobe Light Camera Series

On January 28th, 2022; Hikvision, a world-leading manufacturer and supplier of security products and solutions, continues to build on its popular line of AcuSense surveillance cameras with the introduction of the new AcuSense Audio and Strobe Light Camera Series. The new camera series combines advanced machine learning with integral strobe lighting and audio warnings tin a single unit providing an effective autonomous solution for deterring intruders. Hikvision AcuSense Audio and Strobe Light Cameras are available in fixed turret, fixed bullet, and speed dome configurations with resolutions ranging from 4 MP to 8 MP.

A regional analysis of the video surveillance market has shown that the segmentation has been done by dividing the world into North America, Latin America, Middle East and Africa, Europe and Asia Pacific. The largest share of the market has been held by the Asia Pacific region where the population is a lot more and the need for surveillance is proportionately more too. This is also expected to lead the market in the coming years. The Government of China has taken some really important steps in securing the region and promoting the use of video surveillance which has really aided the growth of the market. The completion of the Skynet video surveillance has been a big factor which has driven growth. The network is the largest in the world which has driven the world of innovation in video surveillance programs, thus further in the world. Another growing market is the North American market as the innovative procedures of video surveillance have been finding mass acceptance in the country

On Special Requirement Video Surveillance Market Report is also available for below region:

North America

  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

Latin America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA

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