DUBLIN, Oct. 31, 2023 (GLOBE NEWSWIRE) — “Video Surveillance Market by offering (Camera, Storage Devices, Displays, AI-Based Video Management System, Non-AI Video Management System, Video Content Analysis, AI-Based Video Analytics) “AI, VSaaS), System (IP, Analogue, Hybrid), Resolution, Vertical and Region – Global Forecast to 2028” The report has been added to ResearchAndMarkets.com an offer.
The global video surveillance market is on track for significant expansion, with a projected value of US$83.3 billion by 2028, up from US$53.7 billion in 2023. This expected growth reflects a compound annual growth rate (CAGR) of 9.2% from 2023 to The year 2023. 2028. The driving force behind this growth is the remarkable advancement in camera capabilities in the video surveillance industry.
Recent innovations have greatly improved camera resolution, with newer cameras, including 4K IP cameras, capturing finer details and providing sharper images when zoomed in. These advanced cameras feature variable zoom lenses, audio streaming capabilities, and improved low-light performance. To meet evolving security and operational needs, manufacturers are also prioritizing cybersecurity measures and innovative approaches, which enhance system performance.
the main points:
- Advanced camera capabilities: Advances in camera capabilities have led to improved resolution, improved low-light performance, and built-in audio streaming capabilities.
- Hybrid surveillance systems: Hybrid systems that integrate analog cameras and IP cameras are showing significant growth due to their flexible and cost-effective solutions.
- Al Amoudi Commercial: The commercial sector is adopting AI-powered monitoring solutions, with an emphasis on real-time monitoring and remote access to address security concerns.
- North American dominance: North America leads the global video surveillance market due to its strong technological infrastructure, security concerns, and active participation in smart city initiatives.
Hybrid surveillance systems are gaining momentum: Hybrid surveillance systems, which integrate analog cameras and IP cameras, are experiencing significant growth with the second largest compound annual growth rate (CAGR) in the video surveillance market. These systems provide companies with a cost-effective way to improve their existing analog infrastructure while gradually moving to more advanced IP technology. The hybrid approach allows for cost savings, making it a flexible and versatile solution for enhancing monitoring capabilities.
Al Amoudi Trading embraces advanced solutions: The commercial segment, which includes institutional, retail, and banking, is witnessing the second highest CAGR in the video surveillance market. Growing security concerns are driving significant investments in advanced monitoring solutions, with the integration of AI-powered analytics enhancing security effectiveness. Features such as real-time monitoring, remote access, and risk mitigation meet evolving business needs, while compliance mandates promote the adoption of robust monitoring systems.
North America takes the lead: North America leads the global video surveillance market, driven by its strong technology infrastructure and security concerns across various sectors, including government, retail, and healthcare. The integration of video analytics, artificial intelligence, and cloud technologies enhances surveillance capabilities. The region’s active participation in smart city initiatives and regulatory mandates to enhance security and compliance measures are driving the adoption of advanced monitoring solutions.
This growth indicates an exciting future for the video surveillance industry, providing proactive and innovative solutions to meet evolving security requirements in a dynamic business landscape.
- Expanding smart cities to create lucrative opportunities for players in the video surveillance market
- The US and commercial segment will hold the largest shares of the North American video surveillance market in 2023
- China will hold the largest share of the video surveillance market in 2028
- China’s video surveillance market will grow at the highest CAGR from 2023 to 2028
- Advances in hardware technologies
- Developing artificial intelligence-based video analytics algorithms
- Low initial investments in Vsaas
- Relying on deep learning and computer vision techniques
- Video data privacy and security concerns
- Lack of standardized guidelines and protocols
- Integrating IoT and other emerging technologies into surveillance systems
- Adopting smart devices for remote monitoring
- Integrating access control features into surveillance systems
- The need for high-capacity storage systems and increased bandwidth
- Interoperability issues associated with various camera systems
The mentioned companies
- VIDEO INTELLIGENCE AGENT LIMITED.
- Avigilon (Motorola Solutions, Inc.)
- Bosch Security Systems, LLC
- Corsight AI
- CB Plus International
- Genetec Company
- Hangzhou Hikvision Digital Technology Co., Ltd
- Hanwha Vision Co., Ltd
- Pistol Up (Qognify)
- Honeywell International Company
- Huawei Technologies Co., Ltd
- iPro Limited.
- Mobotix AG
- Morphine SA
- NEC Corporation
- Nice – good
- Teledyne Technologies Incorporated
- Tiandi Technologies Co., Ltd
- Verkada Company
- Vivotech Company
- Zhejiang Dahua Technology Co., Ltd
- Zhejiang Uniview Technologies Co., Ltd
|number of pages||310|
|Forecast period||2023 – 2028|
|Estimated market value (in US$) in 2023||$53.7 billion|
|Projected market value (in US$) by 2028||$83.3 billion|
|Total annual growth rate||9.2%|
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Global video surveillance market