Asia-Pacific Video Surveillance Systems Market Size

Statistics for the 2023 & 2024 Asia-Pacific Video Surveillance Systems market size, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Video Surveillance Systems size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Asia-Pacific Video Surveillance Systems Industry

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Asia-Pacific Video Surveillance Systems Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 15.40 %
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Asia-Pacific Video Surveillance Systems Market Analysis

The Asia-Pacific Video Surveillance Systems Market is expected to grow at a CAGR of 15.4% during the forecast period (2022-2027). The Asia Pacific has emerged as one of the most significant markets in terms of video surveillance adoption, driven by heavy investments in infrastructure and smart city projects in different countries in the region.

  • This region is witnessing the rising adoption of IP surveillance systems by governments of many APAC countries to prevent crimes in those regions. For instance, in August 2021, Singapore announced that it aims to have more than 200,000 police cameras by 2030, which is over double the current number of cameras deployed across the country, as they have proven useful in deterring crimes and locating missing persons.
  • AI-based surveillance techniques are gaining traction in the region, with many governments in the Asia Pacific region procuring advanced analytic systems, facial recognition cameras, and sophisticated monitoring capabilities. The use of AI in video surveillance can provide significant benefits in detecting unusual incidents and generating alerts.
  • Further, the usage of surveillance technology has become more prevalent in the pandemic era. Many countries in the Asia Pacific region have deployed mass surveillance tools like drones or closed-circuit television (CCTV) cameras for contact tracing, monitoring of quarantined individuals, and managing the overall transmission of COVID-19.
  • Due to the COVID-19 pandemic, many end-use verticals deploying video surveillance systems have been affected by this crisis. As such, the market in 2020 experienced a decline 2019. Market players have witnessed supply chain disruptions for video surveillance equipment across both demand and supply sides.
  • With advances in technology, most video surveillance devices, like IP security cameras, are connected to the internet and are thus at the risk of being hacked, which acts as a market restraint.

Asia-Pacific Video Surveillance Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)