Dublin, Sept. 29, 2022 (GLOBE NEWSWIRE) — The “Global Surveillance Camera Market: Analysis by System Type (Analog, Commercial IP, Consumer IP and Other Surveillance Cameras), by Technology (Image Signal Processor, Vision Processor, Vision Processor + AI) by region size and trends with impact of COVID-19 and Forecast to 2027″ report has been added to from ResearchAndMarkets.com offer.
The global surveillance camera market in 2021 was valued at US$28.02 billion. The market is expected to reach US$45.54 billion by 2027.
In addition, the global surveillance camera market volume is expected to reach 524.75 million units in 2027, from 214.30 million units in 2021.
Surveillance cameras are video cameras used for the purpose of observing an area. They are often connected to a recording device or an IP network, and can be monitored by a security guard or law enforcement officer. The surveillance camera can protect individuals or businesses against theft, fire, flood or intrusion.
Due to increasing urban population, increase in criminal threats, growth in traffic management, technological improvements and increase in ATMs would drive the growth of the market in the coming years. The market is expected to grow at a CAGR of 8.38% during the forecast period 2022-2027.
In North America, the United States held the dominant share. The United States is one of the most surveilled countries in the world, with CCTV cameras installed in most public and private places. However, the retail and commercial end-user markets are estimated to have the highest number of cameras installed in the country.
While in the Asia-Pacific region, Japan and China held a large share of the market, with public security agencies investing heavily in emerging technologies to provide effective security solutions in Japan.
There is a rapid growth in surveillance cameras in recent years with the aim of reducing and preventing criminal activity. Criminal cases decrease proportionally as more and more cameras appeared. Surveillance cameras can also deter crime by increasing the likelihood of arrest and punishment.
Alarm notification is the best way for security cameras to work in crime prevention and reduction. Moreover, the market has been growing in recent years, owing to factors such as rapid urbanization, growing number of ATMs, growth in traffic management, technology improvement and development in the industry surveillance cameras, and many other factors.
However, the market has faced some particular challenges, increasing privacy issues, high investment cost, etc.
The market is expected to grow at a rapid rate over the forecast period, owing to various latest trends such as integration of artificial intelligence systems in surveillance cameras, adoption of surveillance systems based on IoT, the emergence of video surveillance as a service (VSaaS), etc. .
IoT systems are deployed in industries such as automotive, transportation, smart homes, energy, utilities, security, surveillance, public safety, financial services, retail, healthcare , industry, warehousing and distribution. The increasing adoption of IoT-based surveillance systems provides an overall growth opportunity to the global surveillance camera market.
COVID-19 impact analysis and way forward:
The global surveillance camera market has been impacted in many ways by the COVID-19 pandemic. In the wake of the COVID-19 pandemic, a wide range of surveillance cameras are proving to be an effective way to serve the purpose of social distancing and other purposes. To keep a check on COVID patients, surveillance camera has been used in COVID wards. Additionally, thermal monitoring has been initiated to check temperatures to prevent the spread of COVID infections in crowded areas.
Some of the strategies of the major players in the surveillance camera market are product launches, mergers, acquisitions, and collaborations.
For example, in 2021, Hikvision announced the launch of its new DeepinView bullet network cameras with TandemVu technology, expanding the scope of TandemVu technology from PTZ units to bullet-type models. Whereas Dahua Technology announced that the company’s network camera and video recorder products have passed ETSI EN 303 645 standard.
The global surveillance camera market is dominated mainly by Chinese companies, Hikvision and Dahua control around 60% of the total surveillance camera market.
Market Segmentation Analysis:
- In 2021, IP surveillance camera held a large market share of 65%.
- In 2021, Commercial IP Surveillance Camera held a large share of more than 40% in the market. On the other hand, the analog segment is expected to decline in the coming years due to the emergence of IP cameras, with many advantages.
- The image signal processor held more than 70% market share. Market expansion is driven by rising sales of home security systems, integration of artificial intelligence systems in surveillance cameras, and adoption of IoT-based surveillance systems. The AI vision processors + surveillance cameras segment is expected to grow at the highest CAGR.
- Surveillance camera manufacturers are shifting from basic image processing to AI processing, which is expected to contribute to the growth of the global vision processor (+AI) camera market. The importance of artificial intelligence (AI) technology during the COVID-19 pandemic has increased dramatically, which has helped various sectors, especially healthcare, to provide real-time monitoring solutions.
- Asia-Pacific held the major share of more than 40% in the market owing to the increase in criminal activities and improved security of the people in the country.
Key Players in the Global Surveillance Cameras Market are:
- Robert Bosch GmbH
- Panasonic Company
- Honeywell International Inc.
- Cisco Systems, Inc.
- Sony group company
- LG Electronics Inc.
- Dahua Technology
- Axis Communications AB
- Teledyne Technologies Incorporated
- Hanwha Group
- Motorola Solutions (Avigilon)
- Single view
Main topics covered:
2.1 Surveillance camera: an overview
2.1.1 Definition of surveillance camera
2.1.2 Applications of surveillance cameras
2.2 Segmentation of surveillance cameras: an overview
2.2.1 Segmentation of surveillance cameras
3. Global Market Analysis
3.1 Global Surveillance Camera Market: An Analysis
3.2 Global Surveillance Camera Market: System Type Analysis
3.3 Global Surveillance Cameras Market Volume: An Analysis
3.4 Global Surveillance Cameras Market Volume: System Type Analysis
3.5 Global Surveillance Cameras Market Volume: Technology Analysis
4. Regional Market Analysis
4.1 Asia-Pacific Surveillance Camera Market: An Analysis
4.2 North America Surveillance Camera Market: An Analysis
4.3 Europe Surveillance Camera Market: An Analysis
4.4 Rest of the World (ROW) Surveillance Camera Market: An Analysis
5. Impact of COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on the Security Cameras Market
5.1.2 Impact of COVID-19 on Video Analytics
5.1.3 Impact of COVID-19 on Unmanned Aerial Systems (UAS)
5.1.4 Need for monitoring in COVID-19 wards
5.1.5 Impact of COVID-19 on Thermal Imaging Systems
6. Market dynamics
6.1 Drivers of growth
6.1.1 Growing number of ATMs
6.1.2 Increase in crime rate and threats
6.1.3 Increase in infrastructure developments
6.1.4 Rapid urbanization
6.1.5 Rise in Home Security System Sales
6.1.6 Increase in demand for big data
6.1.7 Traffic Management Growth
6.1.8 Growing Adoption of IP Cameras
6.2.1 Rising Privacy Concerns
6.2.2 High investment cost
6.3 Market trends
6.3.1 Integration of artificial intelligence systems in surveillance cameras
6.3.2 Adoption of IoT-based surveillance systems
6.3.3 Emergence of Video Surveillance as a Service (VSaaS)
6.3.4 Increased adoption of spy and hidden cameras
6.3.5 Growth of transition from analog surveillance to IP cameras
7. Competitive landscape
7.1 Global Surveillance Cameras Players by Market Share
8. Company Profiles
8.1 Overview of activities
8.2 Operating area
8.3 Business strategy
For more information on this report, visit https://www.researchandmarkets.com/r/hq5ht0