Video Surveillance Market Report and Company Analysis 2024-2032 with Honeywell International, B. Hangzhou Hikvision Digital Technology, Bosch, Schneider Electric, Panasonic, Cisco, TKH, Motorola

Video surveillance market

Dublin, Oct. 23, 2024 (GLOBE NEWSWIRE) — The “Global Video Surveillance Market Report Forecast by Component, System Type, Application, Region and Company 2024-2032” report has been added ResearchAndMarkets.com Offer.

The global video surveillance market will reach $198.89 billion by 2032, up from $69.80 billion in 2023, with a compound annual growth rate of 12.34% between 2024 and 2032

The increasing use of IoT devices, security concerns, and technological breakthroughs such as AI and cloud storage are driving the global video surveillance industry. More smart city projects and stricter regulations are increasing demand even further. Surveillance systems are critical to both public safety and business operations, but their costs have increased due to the need for remote monitoring during the epidemic and the growth of e-commerce.

Strong expansion in the global banking, financial services and insurance (BFSI) sector is fostering a favorable market environment. Due to the increasing number of thefts, strange ATM withdrawals and fraudulent transactions, video surveillance systems are becoming increasingly common. Furthermore, the growing demand for these items in retail, fueled by an increase in thefts and burglaries, is positively impacting market expansion.

Booming Insurance, Banking and Financial Services (BFSI) sector.

The BFSI sector is an important part of the global economy: banking, financial services, insurance and other industries. Security is of utmost importance in this industry as it involves large volumes of financial transactions and sensitive customer data. Video surveillance systems are essential in many ways to ensure the security of these facilities.

Additionally, video surveillance systems can record high-quality video footage, which can be helpful in investigating unauthorized access, fraudulent transactions, and suspicious activity. Both regulatory compliance and fraud prevention depend on this competency. In addition, the BFSI industry attaches great importance to protecting the safety of workers and customers. Surveillance systems not only help keep an eye on public areas, entrances and exits, but also provide real-time information about any emergencies or security risks.

Combination of AI, IoT and deep learning

Advanced technologies such as deep learning, IoT and AI have been integrated into video surveillance systems, turning them into effective tools for data analysis and security. Video analytics with autonomous object, behavior and anomaly detection and classification are enabled by deep learning algorithms. With the ability to identify faces, cars and license plates, AI-driven video surveillance systems can provide timely alerts and insightful data to improve business operations and security.

Additionally, thanks to the Internet of Things, video surveillance systems can seamlessly integrate a variety of devices and sensors. By adding new data sources, including access control systems or environmental sensors that can initiate actions based on pre-established rules, this integration improves situational awareness. Additionally, companies in the retail and BFSI space can gain useful insights from video footage using AI-powered analytics. Predictive analytics can increase operational efficiency, optimize retail layouts, and anticipate security issues.

Growing consumer demand for retail goods

Video surveillance systems are used in retail to meet a range of operational and security requirements. Employee theft, shrinkage and shoplifting are losses that retailers struggle with. Video surveillance systems serve as a proactive tool by keeping an eye on business activity, preventing theft and providing evidence in the event of an incident. Additionally, it is crucial to ensure customer safety. Video cameras are useful for monitoring and managing conflicts, emergencies and accidents that occur on business premises.

Additionally, store surveillance footage is used for operational tasks such as evaluating employee performance, optimizing store layout, and tracking foot traffic. The market is growing due to the need for video surveillance systems with features such as analytics to analyze customer behavior and facial recognition to identify known shoplifters, driven by the continued growth of the retail industry and the desire to provide a safe and pleasant shopping environment.

Asia Pacific Video Surveillance Market

Due to increasing urbanization, increased security risks and technological improvements, Asia Pacific now accounts for a significant share of the global video surveillance market. As a result, China, Japan and India are the leading nations in this area and have invested heavily in smart city and public safety projects.

Video surveillance market in China

One of the main driving factors for China’s video surveillance industry is the introduction of the smart cities concept in the country. To increase productivity, sophisticated video surveillance systems have been integrated into municipal administrative processes. An example of a highly developed smart city is Yinchuan in China, where all elements of the city are integrated into a single system, including garbage cans and buses.

One of the first projects to use video surveillance was the Hangzhou “City Brain” project, launched by Chinese technology and retail company Alibaba. Sensors and camera systems are used to collect real-time data on traffic conditions throughout the city. An AI hub receives the data and uses it to control traffic signals at 128 intersections while helping local officials make faster, more informed judgments.

Additionally, China is reportedly working on a surveillance system that will connect security cameras across the country to a database that stores each person’s dossiers of personal information and facial recognition profiles via the cloud, according to an article in the South China Morning Post. The article sparked discussion about possible risks and whether the system already exists.

Analysis of video surveillance companies

The major market players in the video surveillance industry include Honeywell International Inc., B. Hangzhou Hikvision Digital Technology Co., Ltd, Bosch, Schneider Electric SE, Panasonic Holdings Corporation, Cisco Systems Inc, TKH GROUP NV and Motorola Solutions, Inc.

Video Surveillance Company News

In January 2024, Hikvision’s next-generation cloud-based video management solution was introduced. For business and government customers, it offers cutting-edge AI analytics and seamless interaction with current security infrastructure.

Companies covered:

Honeywell International Inc.
B. Hangzhou Hikvision Digital Technology Co., Ltd
Bosch
Schneider Electric SE
Panasonic Holdings Corporation
Cisco Systems Inc
TKH GROUP NV
Motorola Solutions, Inc.

Key attributes:

Report attribute	Details
Number of pages	200
Forecast period	2023 – 2032
Estimated market value (USD) in 2023	$69.8 billion
Projected market value (USD) by 2032	$198.89 billion
Compound annual growth rate	12.3%
Regions covered	Global

Main topics covered:

1. Introduction

2. Research methodology

3. Summary

4. Market dynamics
4.1 Growth drivers
4.2 Challenges

5. Global Video Surveillance Market

6. Market share analysis
6.1 By Component
6.2 By system type
6.3 Upon request
6.4 By country

7th component
7.1 Hardware
7.2 Software
7.3 Services

8. System Type
8.1 Analog monitoring
8.2 IP Monitoring
8.3 Hybrid monitoring

9. Application
9.1 Public Institution
9.2 Commercial
9.3 Housing
9.4 Industry
9.5 Military and Defense
9.6 Infrastructure

10. Countries
10.1 North America
10.1.1 United States
10.1.2 Canada
10.2 Europe
10.2.1 France
10.2.2 Germany
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Belgium
10.2.7 Netherlands
10.2.8 Türkiye
10.3 Asia Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia
10.3.5 South Korea
10.3.6 Thailand
10.3.7 Malaysia
10.3.8 Indonesia
10.3.9 New Zealand
10.4 Latin America
10.4.1 Brazil
10.4.2 Mexico
10.4.3 Argentina
10.5 Middle East and Africa
10.5.1 South Africa
10.5.2 Saudi Arabia
10.5.3 United Arab Emirates

11. Porter’s Five Forces Analysis
11.1 Bargaining Power of Buyers
11.2 Bargaining Power of Suppliers
11.3 Degrees of Rivalry
11.4 Threat from new market entrants
11.5 Threat from substitutes

12. SWOT analysis
12.1.1 Strength
12.1.2 Weakness
12.1.3 Opportunity
12.1.4 Threat

13. Analysis of the key players
13.1 Overview
13.2 Key Persons
13.3 Current developments and strategies
13.4 Sales Analysis

For more information about this report, see

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