Video Surveillance Market Size, Share & Trends Analysis Report By Component (Camera, Monitors), By Vertical (Commercial, Government), By System Type, By Region, And Segment Forecasts, 2023 - 2030

Video Surveillance Market Size, Share & Trends Analysis Report By Component (Camera, Monitors), By Vertical (Commercial, Government), By System Type, By Region, And Segment Forecasts, 2023 - 2030

Video Surveillance Market Growth & Trends

The global video surveillance market size is anticipated to reach USD 147.00 billion by 2030, according to a new report by Grand View Research, Inc. The industry is anticipated to grow at a lucrative CAGR of 12.4% from 2023 to 2030. The rising demand for security enhancements across various sectors, including businesses, schools, and homes, propels the market forward. Technological advancements in artificial intelligence and deep learning are bolstering the effectiveness of video surveillance systems in detecting and responding to threats. In addition, government regulations mandating the use of such systems in public spaces and critical infrastructure are accelerating their adoption. Moreover, the increasing affordability of video surveillance systems is expanding their accessibility to a wider range of businesses and organizations.

The integration of IoT technology into video surveillance is experiencing rapid growth. IoT cameras enable remote monitoring and control, which is particularly valuable for extensive or remote locations. They are programmed to send alerts when they detect certain events, such as motion detection or unauthorized access, minimizing false alarms and streamlining response times. IoT cameras gather and analyze data through data analytics to identify patterns and trends, augmenting security measures and preventing incidents. Moreover, IoT cameras are cost-effective, requiring less infrastructure, such as cables and servers, than traditional surveillance systems.

The Asia Pacific market is experiencing rapid growth due to heightened concerns for security and safety in both public and private settings. The surge is fueled by the adoption of smart city initiatives, the rising popularity of cloud-based surveillance systems, and technological advancements in the field. With densely populated countries like China and India undergoing rapid urbanization, the region is witnessing an upswing in crime rates, further boosting the demand for advanced video surveillance solutions. For instance, in May 2022, Panasonic i-PRO Sensing Solutions Co., Ltd., now known as i-PRO Co., Ltd., unveiled a new product portfolio under the brand name "i-PRO" in the Asia Pacific market. As part of its ongoing commitment to advancing AI-driven solutions within the security sector, the company also launched an innovative range of multi-sensor cameras incorporating deep learning intelligence at the edge for the APAC region.

Video Surveillance Market Report Highlights

• In terms of component, the hardware segment dominated the market in 2022 with a revenue share of over 71%. The increasing need for security and surveillance solutions across various residential, commercial, industrial, and public infrastructure sectors has led to a higher demand for cameras, sensors, recorders, and other hardware components
• In terms of system type, the IP video surveillance systems segment led the market in 2022 with a revenue share of over 54%. IP surveillance systems are more scalable, allowing for the addition of cameras and components without significant infrastructure changes, making them more suitable for small-scale installations and large enterprise-level deployments
• In terms of vertical, the commercial segment dominated the market in 2022 with a revenue share of over 37%. Commercial establishments, including offices, retail stores, banks, and hotels, prioritize security and loss prevention. Video surveillance systems provide a deterrent against theft, vandalism, and other criminal activities, making them a crucial investment for these enterprises
• Asia Pacific dominated the market in 2022 with a revenue share of over 37%. Governments in the Asia Pacific region have launched initiatives to enhance public safety and security, including deploying video surveillance systems in public spaces, transportation networks, and critical infrastructure

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