Video Surveillance Market to grow by USD 37 billion (2024-2028), driven by the need to curb crime and terrorism, Report on how AI is driving market transformation – Technavio

NEW YORK, Nov. 14, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global video surveillance market size is estimated to grow by USD 37 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.71%  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 video surveillance. However, issues related to privacy  poses a challenge.Key market players include Agent Video Intelligence Ltd., Canon Inc., Costar Technologies Inc., CP PLUS International, Dahua Technology Co. Ltd., Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Corp., Hexagon AB, Honeywell International Inc., Huawei Technologies Co. Ltd., i PRO Co. Ltd., Motorola Solutions Inc., NEC Corp., NICE Ltd., Robert Bosch GmbH, Teledyne Technologies Inc., Tiandy Technologies Co. Ltd., Zhejiang Uniview Technologies Co. Ltd., and Zicom Saas Pvt. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Driver

The Video Surveillance Market is experiencing significant growth due to heightened security concerns and smart city initiatives. Businesses and organizations are investing in advanced video surveillance systems for real-time access, remote monitoring, and intelligent security. Technology advancements, including AI-powered video, machine learning, computer vision, and object recognition, are driving the market. Regulatory requirements and privacy regulations are key considerations. Established manufacturers like Panasonic Corporation and Infinova Corporation offer IP cameras, network video recorders, and other necessary equipment. Integration of video surveillance with access control and centralized monitoring is becoming standard. Potential threats, such as data breaches and internet usage, are increasing the demand for high-capacity storage and bandwidth. The market spans various sectors, including enterprises, data centers, banking facilities, hospitality centers, retail establishments, warehouses, communication networks, healthcare organizations, and more. Investment costs and professional expertise are crucial factors. Global video surveillance market trends include IP surveillance, wireless, and the use of smart devices, mobile video surveillance, and analytics applications. Potential applications include security, anticorruption programs, border control, transportation infrastructure, and corporate houses. However, privacy concerns and potential misuse, such as the use of spy cameras and hidden cameras, remain challenges. 

The integration of Artificial Intelligence (AI) in video surveillance systems has revolutionized the industry. AI enables smart automation, allowing for the analysis of vast amounts of surveillance data to generate intelligent insights. Real-time analysis of live video streams is now possible with minimal human intervention. Intel’s Movidius, for instance, utilizes AI and deep learning to make video surveillance proactive. By detecting unattended objects and monitoring behavior, Movidius enhances security. Partnerships with Hangzhou Hikvision Digital Technology and Dahua Technology will expand the use of AI-based video surveillance. AI’s superior standard of facial, faceless, behavioral, and object detection corrects human errors, ensuring heightened security. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

• The Video Surveillance Market is experiencing significant growth due to increasing security concerns, smart city initiatives, and business intelligence needs. Advancements in technology, such as AI-powered video, remote monitoring, and real-time access, are driving demand. However, regulatory requirements, privacy regulations, data breaches, and potential threats pose challenges. Established manufacturers like Panasonic Corporation and Infinova Corporation offer IP cameras, network video recorders, and other essential components. Enterprises, data centers, banking facilities, hospitality centers, retail establishments, warehouses, communication networks, healthcare organizations, and various other sectors are investing in video surveillance solutions. Challenges include access control, human operators, machine learning, computer vision, and bandwidth requirements. Integration of video with other security systems and potential threats like object recognition, behavior analysis, and advanced video analytics require intelligent security solutions. Investment costs, professional expertise, and regulatory compliance are key considerations. The market is expanding globally, with regions like the Rest of Europe, Abu Dhabi, and Latin America showing significant potential. However, concerns around privacy regulations, internet usage, smart devices, and mobile video surveillance persist. The market also includes traditional surveillance methods like analog format and IP security cameras, as well as wireless and hidden cameras. Safety is a top priority, with applications ranging from anticorruption programs and border security to transportation infrastructure and corporate houses.
• Video surveillance is a crucial tool for preventing and detecting crimes, yet it raises concerns regarding privacy infringement. Public surveillance systems may capture images in private areas without consent, leading to potential privacy breaches. Extensive video surveillance allows governments to gather comprehensive information about individuals’ lives without their approval, potentially infringing on their right to anonymity. This right is essential, as individuals may wish to visit sensitive places, such as infertility clinics or mental health facilities, anonymously. The boundary between legitimate monitoring and intrusion can be ambiguous, necessitating careful consideration and regulation.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This video surveillance market report extensively covers market segmentation by  

1. Product 

• 1.1 Hardware
• 1.2 Software
• 1.3 Services

• 2.1 Public
• 2.2 Commercial
• 2.3 Residential

• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Hardware-  The video surveillance market comprises various hardware components such as cameras, storage devices, network video recorders (NVR) or digital video recorders (DVR), video encoders, and network infrastructure. Among these, cameras are a crucial element. IP cameras, which combine cameras and computers in a networked infrastructure, are popular for video surveillance. They possess their own IP address and can be accessed remotely. IP cameras consist of a lens, image sensor, memory, and processors with image processing, compression, networking, and storage capabilities. Both IP and analog cameras are utilized for surveillance. Hangzhou Hikvision Digital Technology offers various analog cameras, while Axis Communications provides a range of IP cameras, including fixed box, fixed dome, modular, panoramic, explosion-proof, and thermal cameras. Vendors introduce new hardware systems and innovative features to influence market growth. NVRs and DVRs, used for managing and storing surveillance footage, are offered by vendors such as Axis Communications, Hangzhou Hikvision Digital Technology, and Panasonic. These plug-and-play systems support active HD and 4K surveillance. Both NVRs and DVRs have similar capabilities, but the former is used with IP cameras, while the latter is used with analog cameras.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Video Surveillance Market is witnessing significant growth due to escalating security concerns and the increasing adoption of smart city initiatives. Businesses and organizations are leveraging video surveillance for business intelligence and real-time access to data. Advancements in technology, such as AI-powered video, machine learning, computer vision, and object recognition, are enhancing the capabilities of video surveillance systems. Regulatory requirements and integration with access control systems are also driving the market’s growth. Potential threats, such as fugitives and anticorruption programs, are further boosting the demand for video surveillance. The market spans various sectors, including healthcare organizations, security applications, borders, transportation infrastructure, corporate houses, educational institutes, buildings, and IP surveillance. IP security cameras, wireless systems, and the transition from analog format to IP are key trends in the market. Departments stores, food chains, malls, factories, workshops, and other commercial establishments are also significant consumers of video surveillance technology.

Market Research Overview

The Video Surveillance Market is witnessing significant growth due to increasing security concerns and smart city initiatives. Advanced technology, such as AI-powered video and machine learning, is driving the market with capabilities like object recognition, behavior analysis, and advanced video analytics. Remote monitoring and real-time access provide businesses with intelligent security solutions. Regulatory requirements and privacy regulations pose challenges, but the integration of video with access control and human operators ensures effective security. Potential threats, such as data breaches and internet usage, are mitigated through high-capacity storage and bandwidth. Established manufacturers like Infinova Corporation and Panasonic Corporation lead the market, with IP cameras, network video recorders, Ethernet cables, monitors, routers, and modems being essential components. The market spans various sectors, including enterprises, data centers, banking facilities, hospitality centers, retail establishments, warehouses, communication networks, healthcare organizations, and educational institutes. Global video surveillance applications range from security to transportation infrastructure, corporate houses, buildings, and IP surveillance. The market faces investment costs and professional expertise requirements, but the potential benefits, including safety and preventing fugitives, outweigh the challenges. The market extends to surveillance cameras in various formats, including IP and analog, wireless, and hidden or spy cameras. Speed cameras and database management are also part of the market.

Table of Contents:

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

• Product
• Hardware
• Software
• Services
• End-user
• Public
• Commercial
• Residential
• 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: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/video-surveillance-market-to-grow-by-usd-37-billion-2024-2028-driven-by-the-need-to-curb-crime-and-terrorism-report-on-how-ai-is-driving-market-transformation—technavio-302305417.html

SOURCE Technavio