Market Trends of Mexico Surveillance Camera Industry
Rising Popularity of Video Analytics in Surveillance Positively Impacts the Market's Growth
- Video analytics offers a practical solution for reviewing extensive surveillance footage and efficiently identifying relevant incidents. Its implementation enhances the security monitoring process and reduces the workload on management and security personnel.
- In recent years, Mexico has experienced a significant increase in vehicle thefts. According to AMIS, an average of 168 insured vehicles were stolen daily in 2023, totaling 61,222, representing a 2.3% increase compared to the previous year's 59,871 units. However, only 42% of the stolen vehicles, or 25,535 units, were successfully recovered in 2023.
- Therefore, technological advancements and increased investment in security solutions have positioned Mexico as a potential growth market for surveillance cameras. In September 2023, cities like Puebla, Guadalajara, and Monterrey implemented new surveillance systems. A 2024 presidential candidate has committed to installing cameras with facial recognition, gun detection, license plate reading, and gait recognition capabilities nationwide. Hence, such trends are anticipated to support the market's growth in Mexico.
- The primary function of video analytics is to promptly alert security personnel to unauthorized or unwanted activities captured by surveillance cameras, enabling quick responses. The data mined from these systems can provide actionable insights to improve business processes and security protocols. Real-time video analytics can monitor events, capturing and analyzing object detection, object recognition, motion detection, and movement patterns.
- Video analytics-enabled surveillance systems can identify a range of incidents, from traffic infractions and sudden fires to suspicious individuals and poor customer experiences in retail settings. The surge in demand for AI-infused surveillance cameras is a key catalyst propelling the video analytics market in Mexico. Progress in computing and AI technologies has notably revolutionized real-time video analytics, enhancing surveillance accuracy, object recognition, motion tracking, and even the ability to interpret human emotions.
Understand The Key Trends Shaping This Market
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IP-based Camera to Witness Significant Growth
- The demand for IP cameras has surged in recent years, driven by the need for high-quality images and enhanced perimeter monitoring. Mexico has embraced technologies like CCTVs, data storage solutions, and advanced systems like ANPR and video analytics. This tech integration significantly boosted the adoption of IP cameras.
- Mexico has been grappling with a significant challenge: cargo theft in the transportation sector. According to the Executive Ministry of the National Public Security System (SESNSP), cargo theft cases in 2023 rose by 3.9% from the previous year, marking the highest since 2020. SESNSP's monthly Common Jurisdiction Crime Incidence Index also highlighted a 2.82% annual increase in violent robberies, with a staggering 85.6% of robberies involving violence. The states with the highest robbery rates are the State of Mexico, Puebla, Michoacan, San Luis Potosi, and Jalisco.
- While officials claim that Mexico City has seen a decrease in violent crime rates, the reality on the ground is nuanced. While some neighborhoods, especially those popular among foreigners, have seen improvements, violent robberies remain a concern, particularly in areas near the city center, notably in the central Cuauhtemoc borough. Government data corroborates this, showing persistently high robbery rates across the city.
- Despite observing a decline in recent years, the crime rate continues to remain significant in various parts of the country, creating an unsafe environment. In 2023, according to data by INEGI, about 39,900 people per 100,000 inhabitants considered their neighborhood unsafe in Mexico. According to the data by Gobierno Federal de M茅xico, National Public Security System, the number of human trafficking cases in Mexico was 729 in 2023.
- Given these challenges, surveillance cameras are increasingly vital in Mexico. These cameras offer superior video quality, boasting up to 20 times better imaging than their analog counterparts. Enhanced Zoom functions make it easier for business owners to monitor activities remotely. Hence, the improved capability of IP-based surveillance cameras will support their adoption in critical use cases during the forecast period.
