Surveillance And Security Equipment Market size is set to grow by USD 47.83 billion from 2024-2028, Need to mitigate criminal activities and terrorist attacks boost the market, Technavio

NEW YORK, Aug. 7, 2024 /PRNewswire/ -- The global surveillance and security equipment market size is estimated to grow by USD 47.83 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 11.61% during the forecast period. Need to mitigate criminal activities and terrorist attacks is driving market growth, with a trend towards advent of smart ai-based surveillance. However, issues related to privacy poses a challenge. Key market players include Aiphone Corp., Allegion Public Ltd. Co., Canon Inc., Cisco Systems Inc., Costar Video Systems, CP PLUS International, Dahua Technology Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Corp., Honeywell International Inc., Johnson Controls International Plc., Motorola Solutions Inc., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schneider Electric SE, Sony Group Corp., Teledyne Technologies Inc., Tiandy Technologies Co. Ltd., and Zicom SaaS Pvt. Ltd..

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Market Driver

The Surveillance and Security Equipment market is experiencing significant growth due to the integration of Artificial Intelligence (AI) technology. AI brings automation to surveillance, enabling the analysis of large volumes of data to derive intelligent insights. AI-based surveillance systems can analyze live video streams in real-time, detecting unattended objects and suspicious activities. This proactive approach transforms passive recording into active monitoring, allowing for prompt action against security threats. AI enhances object recognition and tracking, reducing false alarms and improving monitoring efficiency. Real-time analysis and predictive analytics enable early threat detection, saving costs by reducing the need for on-site security personnel. Facial recognition capabilities offer access control and law enforcement applications, while predictive analytics and anomaly detection provide preemptive security measures. Flexibility and scalability are essential in today's evolving security landscape. AI-enabled surveillance solutions offer customization based on specific security needs and easy adaptation to changing requirements. Cost savings result from reduced dependency on on-site personnel and increased efficiency. Improved cybersecurity is another significant advantage, as AI-powered systems can predict and prevent intrusions. Companies like IC Realtime, IntelliVision, and Kipod are leading the way in AI-based surveillance. They offer facial recognition, object recognition, and predictive analytics solutions, enhancing security and efficiency. China is a major market for AI-based surveillance, with companies like SenseTime offering facial recognition technology to local governments and private firms. The use of AI in surveillance is expected to continue driving market growth during the forecast period. 

The Surveillance and Security Equipment Market is thriving, with significant growth in commercial verticals and government and defense sectors. Key products include Surveillance Cameras such as CCTV, IP surveillance systems, and high-resolution cameras. Biometric access systems and drones are also gaining popularity. Borders and checkpoints, public places, and government buildings require advanced security solutions. IT infrastructure providers are integrating Virtual Network Functions (VNF) and Software-Defined Networks (SDN) for efficient video surveillance. Wireless cameras and Video Surveillance as a Service (VSaaS) are trending for remote monitoring. Video analytics technologies help detect abnormal activity, theft, fraud, and digital data breaches. Law enforcement agencies, educational institutions, and enterprises use video surveillance for public safety, campus shootings prevention, and theft prevention. Smart cities, transportation, and industry sectors also benefit from advanced security equipment for safety assurance and traffic control operations. 

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Market Challenges

• The global surveillance and security equipment market faces significant challenges due to privacy concerns. Unauthorized use of public surveillance systems in private areas infringes on individuals' right to privacy. Extensive surveillance can also compromise democratic rights, such as the right to anonymity and freedom of expression. Misuse of surveillance equipment, including voyeurism, further exacerbates these concerns. These challenges may hinder the growth of the market, as ethical and legal considerations become increasingly important. Companies must ensure their products are used ethically and legally to mitigate these risks and maintain public trust. Privacy regulations and guidelines must also be strictly adhered to, to protect individuals' fundamental rights.
• The Surveillance and Security Equipment market faces numerous challenges in various sectors. Theft prevention and safety assurance are key concerns in public places, government buildings, national infrastructure, transportation, industry sectors, enterprises, and commercial areas. Abnormal activity, theft, fraud, and digital data security are significant challenges in smart cities and critical infrastructure. Thieves and robbers pose threats to residential buildings and small enterprises, while violence, vandalism, and terrorism endanger institutions and business zones. New-generation CCTV cameras, alarm systems, and video surveillance data are essential tools for incident detection and industry safety. However, privacy violations and personal data security are growing concerns, especially in the context of IT services and financial services. Overall, the market must address these challenges to provide effective surveillance and security solutions for various industries and sectors.

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Segment Overview 

This surveillance and security equipment market report extensively covers market segmentation by

1. Service 
• 1.1 Commercial
• 1.2 Residential
2. Product 
• 2.1 Video camera
• 2.2 Alarms
• 2.3 Access control
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Commercial- The Surveillance and Security Equipment Market is experiencing significant growth due to the increasing number of commercial establishments and the heightened importance of effective security management. This market caters to various sectors such as hotels, restaurants, retail stores, malls, private hospitals, office complexes, banks, financial institutions, supermarkets, and convenience stores. Commercial establishments utilize surveillance and security equipment to manage security cost-effectively under a centralized and flexible system. In the banking and financial services industry (BFSI), the deployment of advanced surveillance systems with capabilities like facial and behavioral recognition is essential due to the sector's vulnerability to security threats. Supermarkets and convenience stores require surveillance to ensure the safety of customers, workforce, and merchandise, prevent loss, and maintain efficient operations. Hotels and restaurants use surveillance to ensure the round-the-clock safety of guests and staff, simplify vehicle access and parking management, and improve productivity. New innovations in surveillance and security equipment, such as smart poles for smart infrastructure solutions, are positively impacting the growth of the market. These poles support two-way audio communication and can be applied to various end-user establishments. The availability of a wide range of advanced surveillance and security equipment is driving the market's growth in the commercial sector.

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Learn and explore more about Technavio's in-depth research reports

The global physical security market is experiencing robust growth, driven by increasing concerns about safety and advancements in technology. This sector encompasses various solutions, including surveillance systems and access control. Concurrently, the home security system market is expanding rapidly, with innovations in smart home technologies enhancing consumer security and convenience. Additionally, the 3D sensors market is on the rise, fueled by demand in applications like automotive, robotics, and consumer electronics. These markets reflect a trend towards heightened security and technological integration in daily life.

Research Analysis

The Surveillance and Security Equipment Market encompasses a range of technologies and solutions designed to prevent theft, ensure safety, and monitor abnormal activities in various sectors. These include public places, government buildings, national infrastructure, and commercial verticals. The market caters to the need for security against theft, fraud, and illegal activities, as well as the requirement for safety assurance in the face of terrorism and other threats. The market offers various types of equipment such as surveillance cameras, biometric access systems, drones, and border and checkpoint systems. These solutions utilize technologies like CCTV, IP surveillance systems, analogue systems, network cameras, high-resolution cameras, and IT infrastructure providers. Additionally, the market includes Virtual Network Functions (VNF) and Software-Defined Networking (SDN) for advanced security solutions. Wireless cameras and video surveillance systems are also integral components of this market.

Market Research Overview

The Surveillance and Security Equipment Market encompasses a wide range of solutions designed to prevent theft, ensure safety, and monitor abnormal activities in various sectors. These solutions are essential in public places, government buildings, national infrastructure, transportation, industry sectors, enterprises, and more. The market includes video surveillance equipment such as CCTV cameras, audio equipment, and incident detection systems. New-generation CCTV cameras, alarm systems, and biometric access systems are also part of the market. Surveillance data, including video and personal data, can be stored and analyzed using IT infrastructure providers and Video Surveillance as a Service (VSaaS). The market caters to various industries, including commercial, industrial, and residential, and addresses threats such as theft, fraud, violence, vandalism, terrorism, and illegal activities. Solutions also extend to critical infrastructure, financial services, government offices, business zones, institutions, emergency services, IT services, and law enforcement agencies. Video analytics technologies and drones are emerging trends in the market, offering advanced capabilities for threat detection and incident response.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Service
• Commercial
• Residential
• Product
• Video Camera
• Alarms
• Access Control
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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