The global surveillance technology market size is expected grow from $114.10 billion in 2021 to $130.08 billion in 2022 at a compound annual growth rate (CAGR) of 14%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The surveillance technology market is expected to reach $214.88 billion in 2026 at a CAGR of 13.4%.
What is the Global Surveillance Technology Market?
The surveillance technology market consists of sales of surveillance software development and related services. Surveillance technology refers to the development of software used in monitoring the behavior, activities, or information for managing, influencing, or directing.
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What drives the Global Surveillance Technology Market?
The rise in need for safety in high-risk areas contributed to the growth of the surveillance technology market. The crime rate is increasing globally, and the rate of increase is varying across different countries. The surveillance technology is used to monitor the behavior, activities or information to reduce the risk of crime. For instance, China uses 200 million cameras for public safety. According to the World Population Review, the crime index is 37 for 1.4 billion population in China. A review conducted by Cornell University, sponsored by Campbell Collaboration, the use of surveillance cameras resulted in a 51% decrease in crimes committed in parking lots and a 23% decrease in crime on public transportation in New York. The rise in need for safety in high-risk areas drove the surveillance technology market.
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Global Surveillance Technology Market Segments
The global surveillance technology market is segmented:
By Technology: Video Surveillance, Big Data, Police Body Cameras, Biometrics, Domestic Drones, Face Recognition Technology, RFID Chips, Stingray Tracking Devices
By Storage: On-Premise, Cloud
By End-User: BFSI, Government, Healthcare, Manufacturing, Retail, IT and Telecommunication, Media and Entertainment, Education
By Geography: The regions covered in the surveillance technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Surveillance Technology Global Market Report 2022provides market size and growth forecasts for the global surveillance technology market, global surveillance technology market share, surveillance technology market segments and geographies, surveillance technology market competitive landscape including leading competitors’ revenues, profiles and market shares. The surveillance technology market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Surveillance Technology Industry Playersinclude AxxonSoft, Milestone, Genetec, ExacqVision, Qognify, March Networks, Verint Systems, Magal Security Systems Ltd., Identiv, Panasonic Corporation, Salient Systems Corporation., OnSSI, Avigilon, DVTEL and Lensec. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
