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Latin America Video Surveillance Systems Market Share, Size, Trends, Growth, Analysis, Forecast: By Product Type: Hardware, Software, Services; By Application: Commercial, Infrastructure, Institutional, Industrial, Defence, Residential; Regional Analysis; Market Dynamics: SWOT Analysis; Trade Data Analysis; Competitive Landscape; 2023-2028
Latin America Video Surveillance Systems Market Outlook
The Latin America video surveillance systems market size attained a value of nearly USD 2,986.82 million in 2022. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 14.10% reaching a valuation of about USD 6,481.33 million by 2028.
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Key Trends in the Market
A video surveillance system refers to a network of monitors/display units, recorders, and cameras that are used together to monitor areas through video footage. These cameras can be either digital or analogue with different features for frame rate, resolution, and colour type, among others. They can operate 24/7 and are designed specifically for recording movement when needed, whether outside or inside specific premises.
- Artificial intelligence solutions are a key trend in the Latin America video surveillance systems market that help with the need to reduce costs and automate key processes, increasing the adoption of video surveillance in Latin America. AI in the form of facial recognition technologies are increasingly used with video surveillance systems, supporting market growth over the coming years.
- The increasing adoption of video analytics and IP cameras across various government office premises and institutional premises is likely to create an optimistic growth prospect for the Latin America video surveillance systems market.
- Development of new intelligent and context-aware video data collection cameras are expected to increase the market growth of video surveillance systems in Latin America. This is because such cameras provide protection against physical assets as well as digital data threats or burglaries.
Market Analysis
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Based on product type, the market can be segmented into hardware, software, and services. Hardware products are further classified by type into camera, storage, and others, with camera sub-divided by type into analogue, IP camera, and hybrid. Software products are bifurcated into video analytics and video management software. On the basis of application, the market is categorised into commercial, infrastructure, institutional, industrial, defence, and residential. The regional markets can be divided into Brazil, Argentina, Mexico, and Chile, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Latin America video surveillance systems market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Canon Inc.
- Hangzhou Hikvision Digital Technology Co., Ltd. A
- Axis Communications AB
- Bosch Sicherheitssysteme GmbH
- Motorola Solutions, Inc.
- Panasonic Corporation
- Digifort IP Surveillance System
- BCD Technology Holdings
- The Infinova Group
- Others
Market Share by Product Type
The hardware segment is likely to hold significant growth in the Latin America video surveillance systems market on account of the rising demand for hardware like cameras, storage, and monitors. This is due to the surging security concerns among several industries along with the rise in the installation of cameras across the region.
The growing shift toward IP cameras with various hardware-based advancements is likely to boost the segment growth in the market as such cameras enhance object tracking, security, and low-light performance. Technological advancements enable applications such as video surveillance of hazardous equipment through zoom-in scan features. This is further expected to fuel the segment growth in the market of video surveillance systems over the forecast period.
Market Share by Applications
The commercial segment is expected to witness growth in the Latin America video surveillance systems market on account of the rising significance of video surveillance systems across various commercial fields and their growing affordability. This is due to an upsurge in security concerns among various end-users like companies, retail, financial institutes, and banks.
The need for security solutions is likely to rise in commercial applications due to heightened security risks such as robbery, inventory loss, and illegal access, among others. As video surveillance systems become more affordable and discrete, more small businesses are investing in these setups. With the swift growth of small enterprises, retail establishments, and malls, the demand for surveillance systems is likely to enhance over the coming time frame. This is further expected to enhance the segment growth in the Latin America video surveillance systems market.
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Competitive Landscape
Canon Inc. is a manufacturer of office equipment, medical systems, imaging systems, and industry products. It provides a broad variety of office multifunction devices (MFDs), inkjet printers, laser multifunction printers (MFPs), cameras, and plain paper copying machines. The company also provides medical diagnostic imaging systems such as computed tomography (CT), magnetic resonance imaging (MRI), X-ray systems, and ultrasound.
Hangzhou Hikvision Digital Technology Co., Ltd. is a supplier and manufacturer of video surveillance products as well as business intelligence services and products. The company is a subsidiary of China Electronics Technology Group Corp. Its product portfolio comprises of video and audio encoding and decoding cards, digital video recorders (DVRs), intercom, network cameras, enterprise network storage, network cables, alarms, PTZ, analogue cameras, and LCD and LED splicing screens, among other accessories.
Axis Communications AB was established in 1984 and provides solutions in video surveillance, intercom, audio systems, and access control. The company facilitates a safer and smarter world by creating solutions for better business performance and security as a network technology company and industry leader. They develop their solutions using intelligent analytics applications and that are supported by high-quality training.
Other market players include Bosch Sicherheitssysteme GmbH, Motorola Solutions, Inc., Panasonic Corporation, Digifort IP Surveillance System, BCD Technology Holdings, and The Infinova Group, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Trade Data Analysis |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Video Surveillance Systems Market Analysis
8.1 Key Industry Highlights
8.2 Latin America Video Surveillance Systems Historical Market (2018-2022)
8.3 Latin America Video Surveillance Systems Market Forecast (2023-2028)
8.4 Latin America Video Surveillance Systems Market by Product Type
8.4.1 Hardware
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup by Type
8.4.1.4.1 Camera
8.4.1.4.1.1 Market Share
8.4.1.4.1.2 Historical Trend (2018-2022)
8.4.1.4.1.3 Forecast Trend (2023-2028)
8.4.1.4.1.4 Breakup by Type
8.4.1.4.1.4.1 Analogue
8.4.1.4.1.4.2 IP Camera
8.4.1.4.1.4.3 Hybrid
8.4.1.4.2 Storage
8.4.1.4.2.1 Market Share
8.4.1.4.2.2 Historical Trend (2018-2022)
8.4.1.4.2.3 Forecast Trend (2023-2028)
8.4.1.4.3 Others
8.4.2 Software
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Type
8.4.2.4.1 Video Analytics
8.4.2.4.1.1 Market Share
8.4.2.4.1.2 Historical Trend (2018-2022)
8.4.2.4.1.3 Forecast Trend (2023-2028)
8.4.2.4.2 Video Management Software
8.4.2.4.2.1 Market Share
8.4.2.4.2.2 Historical Trend (2018-2022)
8.4.2.4.2.3 Forecast Trend (2023-2028)
8.4.3 Services
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Latin America Video Surveillance Systems Market by Application
8.5.1 Commercial
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Infrastructure
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Institutional
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Industrial
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Defence
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Residential
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.6 Latin America Video Surveillance Systems Market by Country
8.6.1 Market Share
8.6.1.1 Brazil
8.6.1.2 Argentina
8.6.1.3 Mexico
8.6.1.4 Chile
8.6.1.5 Others
9 Regional Analysis
9.1 Brazil
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Argentina
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 Mexico
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 Chile
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Powers
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis (HS Code: 7110)
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Company Profiles
14.2.1 Canon Inc.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Hangzhou Hikvision Digital Technology Co., Ltd.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Axis Communications AB
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Bosch Sicherheitssysteme GmbH
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Motorola Solutions, Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Panasonic Corporation
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Digifort IP Surveillance System
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 BCD Technology Holdings
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 The Infinova Group
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Video Surveillance Systems Market: Key Industry Highlights, 2018 and 2028
2. Latin America Video Surveillance Systems Historical Market: Breakup by Product Type (USD Million), 2018-2022
3. Latin America Video Surveillance Systems Market Forecast: Breakup by Product Type (USD Million), 2023-2028
4. Latin America Video Surveillance Systems Historical Market: Breakup by Application (USD Million), 2018-2022
5. Latin America Video Surveillance Systems Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Latin America Video Surveillance Systems Historical Market: Breakup by Country (USD Million), 2018-2022
7. Latin America Video Surveillance Systems Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Latin America Video Surveillance Systems Market Structure
Key Questions Answered in the Report
In 2022, the video surveillance systems market in Latin America attained a value of nearly USD 2,986.82 million.
The market is assessed to grow at a CAGR of 14.10% between 2023 and 2028.
The market is estimated to witness healthy growth in the forecast period of 2023-2028 to reach almost USD 6,481.33 million by 2028.
The major markets driver are the growing safety concerns, increasing installation of security cameras, and rising affordability and accessibility of video surveillance systems.
The key video surveillance systems market trends include usage of artificial intelligence solutions, adoption of video analytics and IP cameras, and development of context-aware video data collection systems.
The various product types of video surveillance systems include hardware, software, and services.
The applications of video surveillance systems include commercial, infrastructure, institutional, industrial, defence, and residential.
The major players in the Latin America video surveillance systems market are Canon Inc., Hangzhou Hikvision Digital Technology Co., Ltd. A, Axis Communications AB, Bosch Sicherheitssysteme GmbH, Motorola Solutions, Inc., Panasonic Corporation, Digifort IP Surveillance System, BCD Technology Holdings, and The Infinova Group, among others.
There are main types of cameras used for video surveillance systems are Internet Protocol (IP), analogue, and hybrid.
Video surveillance is typically kept for 30 to 90 days, although users can specify their desired storage period.
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