Market Trends of Global Video Surveillance Systems Industry
The Infrastructure Segment is Expected to Register Significant Growth
- The infrastructure segment encompasses roads, rail, airports, stadiums, etc. Technological advancements in the industry have led to the development of night vision cameras that are designed to work in low-lit areas. Infrastructure segments, particularly roads, need night-vision cameras to monitor traffic and keep track of suspicious activities. These factors are anticipated to propel the demand for video surveillance systems in the infrastructure segment.
- In recent years, there has been a rise in terrorist attacks and intrusions at airports. This has led to an urgent need for airport operators to prevent unauthorized access and detect suspicious activities at an early stage. As a result, there has been an increase in demand for security software.
- Video surveillance is one of the crucial aspects of stadium security systems since manual monitoring of individual entrants becomes difficult during large gatherings. For instance, according to CVE Details, a security vulnerability database, in the first week of 2024, internet users worldwide discovered 612 new common IT security vulnerabilities and exposures. The highest annual figure of 29,065 thousand was recorded in 2023. CVE Details provides a vulnerability intelligence solution that offers information on exploits, advisories, products, and CVE risk scores. Some of the security guards are expected to be equipped with wearable cameras to monitor scenes in real time.
- Departments of transportation (DOTs) are expanding their use of job site cameras to monitor their projects, improve safety, and minimize cost overruns as demand mounts on the infrastructure business to keep up with other sectors in terms of productivity.
- Further, with the development of smart cameras and various associated sensors, there has been a shift toward more in-band analytics. This has laid down a strong foundation for SaaS.
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China is Expected to Dominate the Market
- The Asia-Pacific market experienced substantial growth due to the increased usage of video surveillance cameras in the field of security and law enforcement. This was primarily aimed at reducing the crime rate in countries like India and China. In China, government-funded cameras are mainly placed in public spaces to provide widespread video surveillance coverage.
- The implementation of smart cities in China was a major driving force for the video surveillance market. Advanced video surveillance systems have been integrated into city administration to improve efficiency. Yinchuan, a city in China, is an example of an advanced smart city where everything, from buses to trash cans, is incorporated into a unified system.
- The "City Brain" project in Hangzhou, developed by the Chinese retail and technology giant Alibaba, was among the pioneers in utilizing video surveillance for traffic management. The project involves the installation of camera systems and sensors throughout the city, which collect real-time data on road conditions. This data is then processed by an AI-enabled hub, which helps optimize traffic signals at 128 intersections and assists city officials in making faster and more informed decisions.
- China is reportedly making significant strides in creating a system that would link security cameras throughout the country to a central database containing individuals' facial recognition profiles and personal information. An article in the South China Morning Post sparked a debate on the potential dangers of such a system, including concerns about privacy and government surveillance. People were concerned about the implantation of the system and what implications it would have for the population.
- China is a significant global influencer in AI-powered surveillance technology as it harbors renowned manufacturers like ZTE, Huawei, Hikvision, and Dahua, who offer their surveillance technology to over 63 countries. Among these countries, 32 have already signed on to China's Belt and Road Initiative, which is further expanding the demand for video surveillance in the region.
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