Business

Surveillance Camera Market to Undertake Strapping Growth During Forecast Period (2020-2027)

The surveillance camera market was valued at US$ 21.82 billion in 2018 and is expected to grow at a CAGR of 8.7% from 2020 to 2027 to reach US$ 45.93 billion by 2027.

“The surveillance camera market was valued at US$ 21.82 billion in 2018 and is expected to grow at a CAGR of 8.7% from 2020 to 2027 to reach US$ 45.93 billion by 2027.”

The video surveillance industry is growing at an impressive pace owing to the evolving security landscape, growing demand for innovative security solutions, and rising integration of advanced technologies such as artificial intelligence in surveillance cameras. The global surveillance camera market is driven by factors such as increase in security concerns and rising infrastructural developments and significant rise in adoption of IP cameras, but

Concerns related to data security is anticipated to restrain the market growth during the forecast period. Despite of this, integration of artificial intelligence in surveillance camera is anticipated to boost the surveillance camera market in the forecast period. Asia-Pacific held the largest share of the surveillance camera market in 2018. North America and Europe held the second and third position in the global surveillance camera market in 2018. Other developing regions such as the Middle East, Africa, and South America are also anticipated to offer ample growth opportunities for the surveillance camera market players during the forecast period.

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Company Profiles

  • Canon Inc.
  • Dahua Technology Co., Ltd
  • FLIR Systems, Inc.
  • Hangzhou Hikvision Digital Technology Co., Ltd.
  • Hanwha Techwin Co., Ltd.
  • Honeywell International Inc.
  • Panasonic Corporation
  • Pelco Corporate
  • Robert Bosch GmbH
  • The Infinova Group

Increase in security concerns and rising infrastructural developments

The adoption of number of surveillance cameras is increasing rapidly in the developed as well as developing economies across the globe owing to the rising need of public safety. With the rise in crime rates, terrorist attacks, antisocial behavior, the government and public safety agencies are significantly investing on new technologies and strategies to ensure public safety and security. It has become essential to improve the system and responses for catastrophic attacks and to identify cost-effective, safe, and feasible solutions.

For instance, in July 2019, the Indian government unveiled its plan to install around 3 lakh CCTV cameras around residential and commercial complexes across Delhi for public safety. Further, to improve security for the Chicago public transportation system, the second-largest city in the United States, the government relied on Sentry360 for establishing a unified surveillance system in the city. Further, the increasing infrastructural spending in the emerging economies is expected to create new growth avenues in the surveillance camera market.

Product Type Insights

The surveillance camera market by product type is segmented by dome cameras, bullet cameras, box style cameras, PTZ cameras, thermal cameras, and others. CCTV plays a significant role in today’s society, and with cameras all around us, the day-to-day lives are experiencing higher levels of security every day. There are a range of different types of surveillance cameras which are best suitable for different premises or situations, and that selecting the appropriate camera for the right application really is very important. The dome cameras segment led the surveillance camera market with the highest market share in 2018, owing to the benefits such as ease of installation, IR night vision, and vandal-resistant features.

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Frequently Asked Questions

Which region is leading the growth of surveillance camera market?

Asia Pacific region leads the surveillance camera market in the year 2018. Asia Pacific is a leader in the adoption and implementation of advanced technologies. Policymakers and regulators in both developed and developing APAC countries are playing a major role in creating favorable investment environment for advanced technologies such as artificial intelligence and IoT. China is one of the most prominent countries in this region which is contributing a huge share to the overall surveillance market in the Asia-Pacific region. The demand for surveillance cameras in government sector for applications such as mass surveillance and facial recognition to prevent crimes is also increasing at a fast pace in this region.

Which camera type has the highest demand in the surveillance camera market?

The IP cameras segment led the surveillance camera market with the highest market share in 2018, as IP cameras offer higher video quality than analog cameras. They provide more video site ranges, such as a narrow or wide field of view, better zoom-in abilities, and because they transmit truly digital signals, they deliver far greater video details. All these benefits makes IP cameras much better for applications such as license plate number detection and facial recognition.

Which industry vertical has the highest demand for surveillance camera market?

The commercial segment led the market for surveillance camera globally, as the places covered under commercial segment deploy huge numbers of security cameras as well as upgrades the same with latest technologies at regular time intervals. The commercial sectors include office spaces, commercial businesses, retail stores, supermarkets, shopping malls, and warehouses. Shopping malls and supermarkets are vulnerable to criminal activities as these places are crowded most of the times. The surveillance cameras help in preventing theft, increase customer, and employee safety as well monitor customer and employee activities. All these benefits of surveillance cameras are anticipated to boost their demand in commercial segment.

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