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Video Surveillance Systems Market Analysis

The Global Video Surveillance Systems Market size is estimated at USD 81.68 billion in 2024, and is expected to reach USD 145.38 billion by 2029, growing at a CAGR of 12.22% during the forecast period (2024-2029).

• The video surveillance market is set to experience growth due to the introduction of new IP-based digital technologies. These technologies are designed to detect and prevent undesirable behaviors such as shoplifting, theft, vandalism, and terror attacks. Video surveillance is utilized in various industries, including manufacturing, banking, financial services, transportation, and retail. These methods are widely used in countries such as the United States, the United Kingdom, India, China, and Brazil, owing primarily to the larger scale of the industries involved and greater consumer awareness.
• Also, the use of video analytics and surveillance cameras to identify potential offenders is expected to reduce crime rates and increase demand for integrated surveillance systems. In recent years, the adoption of video surveillance as a service (VSaaS) has greatly improved. This improvement can be attributed to the increased market penetration of IP cameras. The growth of the VSaaS segment is also being aided by several significant factors, such as cost containment by major IT organizations, the emergence of data centers, and improved functionalities associated with centralized data.
• During the COVID-19 pandemic, IP video surveillance systems were used for various security purposes across multiple countries. These advanced cameras had high-performance computing power and video analytics that allowed users to convert real-time images into extensive data analysis. Video analytic techniques such as queue management, people counting, crowd detection, and personal protective equipment detection were commonly used to enforce social distancing measures and norms.
• During the COVID-19 pandemic, the reliance on remote patient monitoring increased to reduce the risk of transmitting the virus. In-room video cameras and integrated telemetry systems were used in hospitals to monitor patient vital signs from a distance. This resulted in a significant reduction in face-to-face interactions between patients and medical staff, helping to limit the spread of the virus.
• Asia-Pacific witnessed the fastest growth in the video surveillance market, primarily due to the considerable investments in security and safety solutions by countries like India and China. Governments across the region recognize the importance of public safety and consider it a crucial function. With the constant growth of cities, video surveillance has become an increasingly important tool for monitoring population movement and combating crime.
• However, video surveillance systems have been criticized for violating people's privacy and are opposed by several civil liberties organizations and activists. People are now more worried about who watches the video and how it might be misused. They expect their personal information to be used only for legitimate and specific purposes, which has led to increased concerns regarding using such systems.

Video Surveillance Systems Industry Segmentation

Video surveillance systems refer to the use of security cameras to monitor and record activities in specific areas or locations for security, safety, or monitoring purposes. Such a system comprises cameras, monitors or display units, and recorders. These cameras can be analog or digital and come with various design features. These systems can be installed indoors and outdoors, operate 24/7, and can be set to record based on movement or specific times of the day.

The video surveillance market is segmented by type (hardware (camera (analog, IP cameras, and hybrid) and storage), software (video analytics and video management software), and services (VSaaS)), end-user vertical (commercial, infrastructure, institutional, industrial, defense, and residential), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).