Video Surveillance Market Size - By Component (Hardware Software, Services), By System Type (Analog Video Surveillance Systems, IP Video Surveillance Systems, Hybrid Video Surveillance Systems), By Application, By Deployment & Forecast, 2024 – 2032

Video Surveillance Market Size

Video Surveillance Market size was valued at USD 53.8 billion in 2023 and is anticipated to grow at a CAGR of over 5% between 2024 and 2032. The increasing adoption of edge Artificial Intelligence (AI) technology is significantly driving growth in the market. Organizations are easily deploying edge AI cameras across various environments without significant infrastructural changes, supporting scalable solutions that adapt to diverse operational needs.
 

For instance, in February 2023, IDIS Ltd. introduced a powerful yet easy-to-deploy range of edge AI cameras. The lineup includes 5MP dome models (DC-D4537RXA & DC-D4537HRXA) and a bullet model (DC-T4537HRXA), all equipped with the Idis Deep Learning Engine for efficient edge processing.
 

The rising incidence of crime, terrorism, and public safety threats is a major driver of growth in the video surveillance market. As individuals and organizations prioritize safety and security, the demand for effective surveillance solutions has surged. This heightened awareness of security risks has prompted governments, businesses, and residential sectors to invest significantly in advanced video surveillance systems to mitigate potential threats & ensure a safer environment.
 

There is a growing trend to integrate video surveillance systems with other smart technologies, such as access control & alarm systems, to create cohesive security ecosystems. Organizations are increasingly recognizing the need to comply with regulations regarding safety & security, driving the adoption of video surveillance systems to meet legal & insurance requirements.
 

Integrating new video surveillance systems with existing infrastructure poses significant challenges that can impact operational efficiency and system effectiveness. This complexity arises from various factors including compatibility issues, technological disparities, and the need for cohesive functionality across different systems. Different manufacturers often utilize proprietary technologies and standards, making compatibility between new and existing components difficult. The integration process requires system downtime, which can disrupt ongoing operations, especially in critical environments such as retail, transportation, or public safety.
 

Video Surveillance Market Trends

The increasing adoption of cloud-based surveillance systems is driving significant growth in the video surveillance industry. Organizations are increasingly turning to cloud solutions due to their scalability, cost-effectiveness, and ease of management. Cloud-based systems allow for remote access to video feeds and data storage, enabling users to monitor their premises from anywhere at any time. Cloud providers often manage software updates and system maintenance automatically, ensuring that users always have access to the latest features and security patches without additional effort. This flexibility not only enhances operational efficiency but also reduces the need for extensive on-premises infrastructure.
 

For instance, in April 2023, Axis Communications introduced Axis Cloud Connect, a new cloud-based platform designed to simplify and secure video surveillance management. Leveraging its extensive experience in network video surveillance, Axis aims to provide enhanced security, flexibility, and scalability for its customers through this platform.
 

The increasing demand for remote monitoring is significantly driving growth in the video surveillance market. Remote monitoring enables users to access live video feeds and recorded footage from anywhere, providing greater flexibility and responsiveness in security management. This capability is crucial for businesses with multiple locations/those operating in high-risk environments, as it allows for immediate action in response to potential threats. Organizations are recognizing the need for real-time visibility in their operations, especially with the rise of remote work and distribution facilities.
 

Advancements in mobile applications and cloud technologies have further facilitated remote access, empowering security personnel and management teams to monitor their assets in real-time. The ability to integrate remote monitoring with other security systems, such as alarms and access controls, enhances overall situational awareness, driving more organizations to invest in comprehensive surveillance solutions that support these capabilities.
 

Video Surveillance Market Analysis

Based on the system type, the video surveillance market is segmented into analog video surveillance systems, IP video surveillance systems, and hybrid video surveillance systems. The hybrid video surveillance systems segment represents the fastest growing segment, with a CAGR of over 10% between 2024 and 2032.
 

• Hybrid video surveillance systems are gaining momentum in the market due to their unique ability to combine the strengths of both analog and IP technologies. This integration allows organizations to transition seamlessly from traditional systems to advanced IP-based solutions without the need for a complete overhaul of the existing infrastructure. As businesses seek to protect their investments, hybrid systems offer flexibility in deploying new technologies while maintaining compatibility with legacy systems.
   
• Organizations are expanding their surveillance needs to accommodate growing facilities or evolving security requirements. Hybrid systems enable users to scale their operations by easily adding new IP cameras or integrating advanced features as needed without disrupting ongoing operations.

Based on components, the market is segmented into hardware, software, and services. The hardware segment is expected to reach over USD 40 billion by 2032.
 

• The hardware segment of the video surveillance market is witnessing significant advancements driven by technological innovations and evolving consumer demands. One prominent trend is the increasing adoption of High-definition (HD) and Ultra-high-definition (UHD) cameras. These cameras offer superior image quality & clarity, essential for effective monitoring and accurate incident analysis. As organizations prioritize enhanced security measures, the demand for advanced camera technologies, including 4K resolution and low-light capabilities, is on the rise, enabling clearer visuals in various lighting conditions.
   
• Many modern cameras now come equipped with AI-driven features, such as motion detection, facial recognition, and behavior analysis, which enhance the functionality of surveillance systems. Edge computing capabilities allow for real-time processing of video data directly at the camera level, reducing latency and bandwidth usage. This shift not only improves operational efficiency but also supports more sophisticated surveillance applications, making hardware an essential component in the ongoing evolution of video surveillance solutions.

The North America video surveillance market size is expected to reach USD 35 billion by 2032, driven by increasing security concerns and technological advancements. In the U.S. and Canada, there is a strong emphasis on adopting advanced surveillance solutions that integrate AI and cloud technologies. Organizations are increasingly in Organizations are increasingly investing in IP-based systems vesting in IP-based systems, which offer enhanced capabilities such as remote monitoring, high-definition video quality, and real-time analytics.
 

The Asia Pacific video surveillance market is experiencing rapid growth, particularly in China, Japan, and South Korea, driven by increasing urbanization and security concerns. In China, the demand for advanced surveillance solutions continues to rise, supported by significant government investments in smart city initiatives and public safety projects.
 

Japan is focusing on innovative security solutions, with an emphasis on advanced IP-based systems and integration with smart city infrastructure. The Japanese market is seeing a growing trend toward cloud-based surveillance solutions, allowing for scalable & flexible security management across urban areas and critical infrastructures.
 

South Korea is significantly expanding its deployment of video surveillance cameras to enhance public safety & security across various sectors. This initiative is driven by increasing urbanization, rising security concerns, and government support for smart city projects. In January 2024, Seoul announced an increment in the number of surveillance cameras using AI by 10,000.
 

Video Surveillance Market Share

Hikvision and Dahua Technology collectively held a significant share of the video surveillance industry in 2023. Hikvision is a leading provider in the video surveillance industry, renowned for its innovative security solutions and advanced surveillance technologies. Founded in 2001 and headquartered in Hangzhou, China, the company specializes in the development & manufacturing of a wide range of video surveillance products including IP cameras, analog cameras, video management systems, and advanced analytics solutions.
 

Dahua Technology is a leading global provider of video surveillance solutions, renowned for its innovation & advanced technology in the security industry. Established in 2001, the company specializes in developing high-quality video surveillance products including cameras, recording equipment, and integrated security systems.
 

Video Surveillance Market Companies

Major players operating in the video surveillance industry are:

• Hikvision
• Dahua Technology
• Axis Communications
• Bosch Security Systems
• Hanwha Techwin
• Avigilon (Motorola Solutions)
   

Video Surveillance Industry News

• In January 2024, Consistent Infosystems launched a new range of Made in India surveillance cameras. These cameras are equipped with advanced features, including two-way communication, solar charging, smart Wi-Fi app control, and night vision capabilities. Consistent Infosystems offer a comprehensive selection of surveillance cameras and Network Video Recorders (NVRs) that are built to be robust and future-ready, reflecting the company's strong commitment to reliability & quality.
   
• In July 2023, D-Link, a global leader in networking and connectivity, announced the launch of its range of surveillance solutions called the "Indigenous Series." This new series is designed and manufactured in India, aligning with D-Link’s commitment to the government’s Make in India initiative, which emphasizes local manufacturing.
   

The video surveillance market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD million) from 2021 to 2032, for the following segments:

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Market, By Component

• Hardware
  • Cameras
  • Storage devices
  • Monitors
  • Networking equipment
• Software
  • Video analytics
  • Video Management Software (VMS) 
  • Access control software
• Services
  • Video Surveillance as a Service (VSaaS)
  • Installation & maintenance
  • Consulting & system integration

Market, By Deployment

• On-premises   
• Cloud  
• Hybrid

Market, By System Type

• Analog video surveillance systems
• IP video surveillance systems
• Hybrid video surveillance systems

Market, By Application

• Commercial
  • Retail
  • Banking & finance
  • Hospitality
  • Healthcare
  • Others
• Residential
• Industrial
  • Manufacturing
  • Oil & Gas
  • Energy
  • Others
• Infrastructure
  • Transportation
  • City surveillance
  • Defense
• Institutional
  • Education
  • Religious buildings
  • Sports & entertainment venues

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA