Global Video Surveillance Systems Market Size

Video Surveillance Systems Market Analysis

The Global Video Surveillance Systems Market size is estimated at USD 81.68 billion in 2024, and is expected to reach USD 145.38 billion by 2029, growing at a CAGR of 12.22% during the forecast period (2024-2029).

Introducing new IP-based digital technologies to detect and prevent undesirable behaviors such as shoplifting, theft, vandalism, and terror attacks are expected to fuel the growth of the video surveillance market. Video surveillance is used in various industries, including manufacturing, banking, financial services, transportation, and retail. These methods are incorporated in nations such as the United States, the United Kingdom, India, China, and Brazil, owing mostly to the bigger scale of the concerned industries and more consumer awareness.

• T he use of video analytics and video surveillance cameras to recognize potential offenders is anticipated to help decrease crime rates in various countries. This is also expected to increase demand for an integrated surveillance system.
• In terms of adoption, VSaaS has significantly improved in recent years. This is primarily due to IP camera sales market penetration. Significant factors such as IT cost containment by major IT organizations, the emergence of data centers, and improved functionalities associated with centralized data are assisting in the growth of the VSaaS segment.
• During the COVID-19 pandemic, IP video surveillance is used primarily for various security purposes across multiple countries. These next-generation cameras feature high-performance computing power and video analytics, allowing users to transform real-time images into big data analysis. Several video analytic techniques, such as queue management, people counting, crowd detection, and personal protective equipment, have been commonly used to take precautionary measures under social distancing practices and norms.
• Furthermore, high investments in security and safety solutions by countries such as India and China aided the Asia-Pacific region in capturing the largest market share. Public safety has emerged as a critical function for governments throughout the region. As cities continue to grow, video surveillance becomes an increasingly important tool for monitoring population movement and combating crime.
• The emergence of the COVID-19 pandemic raised its usage to newer heights to limit exposure to the virus. National infrastructure, such as hospitals, monitors patient vital signs remotely through in-room video cameras and integrated telemetry systems, significantly reducing the frequency of in-person encounters between patients and medical staff.
• However, these video surveillance systems have been condemned as a violation of privacy and are opposed by a number of civil liberties organizations and activists. People are increasingly concerned about who watches the video and how it might be abused because they expect their personal information to be used only for legitimate and specific purposes.