Global Video Surveillance System Market to Grow at a CAGR of 9.4% During 2024-2032, Aided by the Rising Demand for Advanced Security Solutions

The global video surveillance system industry is being driven by the heightened demand for advanced security solutions. This can be attributed to the growing incidences of criminal activities such as theft worldwide. In addition, the heightened deployment of video surveillance systems in public spaces and shopping complexes to monitor the safety of individuals while also tracking any incidences of shoplifting and burglary also supported the growth of the market. Also, such systems are increasingly being installed in banking facilities and ATMs to secure them from any fraudulent transactions. Moreover, the growing research and development activities in the production of advanced video surveillance programmes to be used in military and defence activities are also anticipated to prove beneficial for the market growth in the forecast years. Further, these systems are also utilised by the traffic police in many regions of the world to monitor incidences of speeding and rash driving.

The growing investments by the leading players in the research and development of advanced video surveillance solutions are expected to spearhead the market growth in the forecast years. For instance, Honeywell (NASDAQ: HON), a leading manufacturer of residential and commercial security solutions, offers a range of video surveillance systems for reliable identification of potential security threats in a given area. The company has developed a range of cameras that provide improved recording and monitoring. In addition, Honeywell video analytics solutions offer automatic detection and tracking of people and vehicles, thus, providing enhanced security and operational efficiency in public spaces. Meanwhile, Cisco Systems, Inc. (NASDAQ: CSCO) also provides a range of video surveillance IP cameras to boost safety and security. These cameras provide efficient network utilisation, along with superior video quality, especially useful in large-scale deployment.

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Market Breakup by Product Type, Vertical, and Region:

• The market is divided, based on product type, into hardware, software, and services (VSaaS).

• On the basis of vertical, the market can be distributed into commercial, infrastructure, institutional, industrial, defence, and residential.

• Region-wise, the global market for video surveillance system can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for video surveillance system is being driven by the rising demand for improved security solutions.

• The growing incidences of criminal activities have significantly contributed to the market expansion.

• The increased deployment of video surveillance system in the commercial sector is also aiding the industry growth. 

• The growing innovations by the leading manufacturers to develop advanced video surveillance systems by integrating technologies like cloud computing are further propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for video surveillance system for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product types, verticals, and regions of video surveillance system.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global video surveillance system market are Axis Communications AB, Bosch Sicherheitssysteme GmbH., Honeywell Security Group, Panasonic Corporation, Teledyne FLIR LLC, and Schneider Electric SE, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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