“Global Video Surveillance Market to reach a market value of USD 165 Billion by 2031 growing at a CAGR of 12.3%”
The Global Video Surveillance Market size is expected to reach $165 billion by 2031, rising at a market growth of 12.3% CAGR during the forecast period.
Surveillance systems are vital in monitoring borders, military bases, and other sensitive areas, often incorporating advanced technologies such as thermal imaging, facial recognition, and motion detection. Thus, the military & defense segment procured nearly 1/4th revenue share in the market in 2023. This sector's substantial share results from the high-security requirements of military installations, defense infrastructure, and strategic assets. The increasing focus on national security and the integration of cutting-edge surveillance technologies in defense operations are key factors driving the growth of this segment.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In April, 2024, Hikvision revealed Turbo HD 8.0, a new analog security product. Turbo HD 8.0 delivers a more comprehensive and interactive security experience for users, enabling them to augment their visual security environment. The enhancements extend the range of Turbo HD products with two-way audio capabilities, compact dual-lens cameras with stitching technology, and Smart Hybrid Light capability across the entire range of Turbo HD cameras. Additionally, In October, 2023, Hikvision introduced ColorVu Fixed Turret (DS-2CE70DF0T-MF) and Bullet (DS-2CE10DF0T-F) Cameras, industry’s first 2 MP analog cameras featuring an F1.0 aperture. These innovative cameras offer high-quality, 24/7 color imaging with HD over analog cabling for easy upgrades, 3D Digital Noise Reduction (DNR) technology, and an impressive white light range.
Based on the Analysis presented in the KBV Cardinal matrix; Cisco Systems, Inc. is the forerunner in the Video Surveillance Market. Companies such as Sony Corporation, Honeywell International, Inc., Panasonic Holdings Corporation and Robert Bosch GmbH are some of the key innovators in Video Surveillance Market. In May, 2024, Robert Bosch GmbH revealed FLEXIDOME 3100i camera, expanding the 3100i product range, providing dependable security while maintaining robust video analytics and data security. Featuring a discreet design, the new dome is well-suited for schools, office buildings, or other settings where inconspicuous surveillance is necessary. Available as an indoor model, with or without IR illumination, it offers enhanced flexibility to meet project needs. The IR illumination enables coverage of up to 30m (98ft) in low-light conditions.
The shift to cloud-based surveillance is further accelerated by the growing trend of remote work and the increasing reliance on digital solutions for business operations. With employees working from multiple locations, the need for centralized and accessible security systems has grown, making cloud-based video surveillance a convenient and preferred option for businesses of all sizes. This trend is expected to continue as cloud infrastructure becomes more sophisticated and reliable, driving the market forward. Thus, the growing adoption of cloud-based video surveillance systems drives the market's growth.
The global shift towards improved security practices, driven by regulatory requirements and consumer preference for safety, has given rise to advanced video surveillance technologies. Surveillance systems are no longer limited to traditional CCTV setups; they include features like AI-powered cameras, facial recognition, and motion sensors. These advanced solutions cater to diverse sectors, including retail, hospitality, healthcare, and critical infrastructure, substantially boosting the market. In conclusion, increasing demand for security solutions in commercial and residential sectors propels the market's growth.
The costs can be particularly steep for large-scale installations, such as in commercial sectors or public infrastructure projects. In addition to the hardware, there are recurring costs for system maintenance, software updates, and storage solutions. However, the reluctance to invest in high-cost systems persists, especially in regions with less stringent security regulations or limited awareness about the long-term benefits of surveillance technologies. Thus, the high initial setup costs act as a restraint to broader market penetration. Therefore, high initial installation and setup costs impede the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
Based on system type, the market is categorized into IP surveillance, analog surveillance, and hybrid surveillance. The hybrid surveillance segment witnessed 27% revenue share in the market in 2023. Hybrid systems combine analog and IP surveillance benefits, allowing organizations to integrate newer IP cameras into an existing analog-based infrastructure. This flexibility appeals to businesses looking to upgrade their surveillance systems without completely overhauling their current setups, making hybrid surveillance an attractive option for organizations with legacy systems.
By end user, the market is divided into commercial, military & defense, infrastructural, residential, and others. In 2023, the infrastructural segment held 19% revenue share in the market. This segment includes surveillance systems in critical infrastructure such as transportation hubs (airports, train stations), utilities, government buildings, and public safety systems. Surveillance in these areas is essential for monitoring traffic, ensuring public safety, and protecting vital infrastructure from potential threats. As cities become smarter and more connected, the need for robust surveillance systems to protect infrastructure and ensure safety has fueled the growth of the infrastructural segment in the video surveillance market.
On the basis of component, the market is segmented into hardware, software, and services. In 2023, the hardware segment recorded 68% revenue share in the market in 2023. The widespread demand for surveillance cameras, sensors, recorders, and other physical equipment essential for video monitoring primarily drives this significant share. As businesses and governments invest heavily in security infrastructure, the need for advanced hardware to capture and store video footage continues to grow. Surveillance cameras, including IP cameras, digital cameras, and specialized devices such as thermal and night-vision cameras, are central to the market's growth.
The hardware segment is further subdivided into camera, monitor, storage, and accessories. In 2023, the camera segment attained 56% revenue share in the market. This segment's leading position is primarily driven by the growing demand for advanced surveillance cameras that offer high-definition video quality, smart features like motion detection, facial recognition, and integration with cloud-based systems. Cameras are the core component of any surveillance system, and the rise of smart cities, increased security concerns, and the adoption of surveillance in various sectors such as retail, transportation, and residential applications have contributed to the growth of this segment.
Free Valuable Insights: Global Video Surveillance Market size to reach USD 165 Billion by 2031
The Video Surveillance Market is highly competitive, driven by growing security concerns, advancements in AI and analytics, and increasing adoption of IoT-enabled devices. The market is characterized by a mix of established providers offering end-to-end solutions and niche players focusing on specific technologies such as facial recognition, cloud-based storage, and edge computing. Intense competition stems from rapid innovation in smart surveillance systems, integration of AI for real-time analytics, and rising demand for scalable and flexible solutions across sectors like transportation, healthcare, and retail. Pricing, technological innovation, and regional adaptability are key differentiators in this dynamic market.
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed 39% revenue share in the market in 2023. This can be attributed to rapid urbanization, the growing adoption of smart cities, and the increasing demand for security solutions in countries like China, India, Japan, and South Korea. The region has seen significant investments in infrastructure development and heightened concerns over public safety, which have driven the demand for advanced video surveillance systems.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 68.9 Billion |
| Market size forecast in 2031 | USD 165 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 12.3% from 2024 to 2031 |
| Number of Pages | 347 |
| Number of Tables | 553 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Component, System Type, End User, Region |
| Country scope |
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| Companies Included | Honeywell International, Inc., Cisco Systems, Inc., Axis Communications AB (Canon, Inc.), Hangzhou Hikvision Digital Technology Co., Ltd., Panasonic Holdings Corporation, Robert Bosch GmbH, Teledyne FLIR LLC, Sony Corporation, Zhejiang Dahua Technology Co., Ltd., Swann Communications Pty. Ltd. (Infinova Group) |
By System Type
By End User
By Component
By Geography
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