What are the Historical Developments and Current Growth Metrics of the Surveillance Camera Market?
The surveillance camera market has seen considerable growth due to a variety of factors.
• In recent times, there has been a swift enlargement in the size of the surveillance camera market. It is anticipated to sprout from $38.89 billion in 2024 up to $43.56 billion by 2025, indicating a compound annual growth rate (CAGR) of 12.0%.
The notable expansion during the historic period can be credited to factors such as increasing urbanization and population, measures for terrorism and crime prevention, advancements in data storage and analytics, and heightened knowledge among individuals and enterprises about the advantages of surveillance cameras.
What Does Future Hold for The Surveillance Camera Market By 2029?
The surveillance camera market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, a robust growth is anticipated in the surveillance camera market, expanding to $62.57 billion in 2029 with a compound annual growth rate (CAGR) of 9.5%.
Factors such as integration with IoT and AI, cloud-based surveillance, privacy issues, lower costs in camera technology, and heightened security concerns are driving the growth during the forecasted period. Significant market trends to be observed in this period encompass a rise in the adoption of AI and analytics, improved resolution and imaging, swift expansion in edge computing, IoT device integration, and privacy-focused technologies.
What Are The Primary Growth Drivers In The Surveillance Camera Market?
The upward trend in crime statistics is anticipated to stimulate the surveillance camera industry's expansion. Crimes, defined as acts or behaviors considered illegal and punishable according to the law, are on the rise due to economic imbalance, social instability, drug-related issues, gang involvement, and insufficient law enforcement, among other factors. These collectively incite escalated unlawful actions across different communities. Surveillance cameras help suppress these actions by establishing a noticeable surveillance presence, and the recorded footage can work as crucial evidence for law enforcement, possibly resulting in reduced crime rates. For example, over a million vehicle theft incidents were reported in 2022 by the National Insurance Crime Bureau (NICB), reflecting a 7% rise from the previous year. In addition, according to the UK government's CrimeRate.co.uk, the crime rate witnessed an 8% increase to 75.88 per 1,000 residents in 2022–2023 from 2021. Consequently, these escalating crime rates contribute to the growth of the surveillance camera industry.
What Is The Segmentation Of The Global Surveillance Camera Market?
The surveillance camera market covered in this report is segmented –
1) By Product Type: Internet Protocol (IP)-Based, Cellular Camera, Analog Camera
2) By Resolution Capacity: High Definition (HD), Full High Definition (FHD), Ultra High Definition (UHD) (4K)
3) By Deployment: Indoor, Outdoor
4) By End-Use: Residential, Commercial Infrastructure, Public Facilities, Industrial, Military And Defense, Other End-Uses
Subsegments:
1) By Internet Protocol (IP)-Based: Wired IP Cameras, Wireless IP Cameras, Cloud-Based IP Cameras, Outdoor/Indoor IP Cameras
2) By Cellular Camera: 4G/5G Cellular Cameras, Battery-Powered Cellular Cameras, Cellular Trail Cameras
3) By Analog Camera: Standard Analog CCTV Cameras, High Definition Analog Cameras (HD-TVI, AHD, CVI), Dome and Bullet Analog Cameras
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What Trends Are Reshaping The Future Of The Surveillance Camera Market?
Leading corporations in the surveillance camera market are placing significant emphasis on the creation of innovative products like edge AI cameras in order to stay competitive. Such cameras, equipped with on-device artificial intelligence, can process and analyze data right at the network's edge, close to where the data is generated. In March 2023, for instance, IDIS, a security tech company based in South Korea, introduced a new range of Edge AI cameras. This line, including dome and bullet camera models, is aimed at minimizing false alarms, enhancing the reactivity and efficacy of security teams, and correctly identifying between humans, vehicles, and other objects. The latest series includes models with NIR Lightmaster technology, 5MP dome, and bullet cameras powered by deep learning, IDIS Smart Failover, true WDR, H.265, IDIS Intelligent Codec, and PoE capabilities. The cameras, which can easily be installed and connect smoothly with IDIS network recorders, are especially beneficial for customers who need precise alerts in various scenarios such as susceptible perimeters, automobile entry, parking spaces, entrances and exits, and locations with high sensitivity or risk.
Who Are the Key Players In The Surveillance Camera Market?
Major companies operating in the surveillance camera market are:
• Sony Corporation
• Panasonic Corporation
• Cisco Systems Inc.
• Honeywell International Inc.
• Canon Inc.
• Hikvision Digital Technology Co. Ltd.
• Zhejiang Dahua Technology Co. Ltd.
• Hanwha Techwin Co. Ltd.
• FLIR Systems Inc.
• Axis Communications AB
• Avigilon Corporation
• Verint Systems Inc.
• Zhejiang Uniview Technologies Co. Ltd.
• VIVOTEK Inc.
• Genetec Inc.
• Pelco Incorporated
• Tiandy Technologies Co. Ltd.
• ACTi Corporation
• Bosch Security Systems GmbH
• Mobotix AG
• March Networks Corporation
• Infinova Corporation
• AV Costar LLC
• IndigoVision Group plc
• Swann Communications Pty Ltd.
• CP PLUS GmbH & Co. KG
• Lorex Technology Inc.
What Are The Regional Insights Into The Surveillance Camera Market?
Asia-Pacific was the largest region in the surveillance camera market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the surveillance camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
