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Video Surveillance Market Size
- Report ID: GMI10380
- Published Date: Jul 2024
- Report Format: PDF
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Video Surveillance Market Size in 2023: | USD 53.8 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 5% |
| 2032 Value Projection: | USD 115 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 290 |
| Segments covered: | Component, Deployment, System Type, Application, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
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Video Surveillance Market Scope
