According to the latest market study on “Security Camera Market to 2027 – Global Analysis and Forecast by Type (Analog Cameras and IP Cameras); Product Type (Dome Cameras, Bullet Cameras, Box Style Cameras, PTZ Cameras) , thermal cameras and others); End-user (BFSI, government and defense, commercial, manufacturing and construction, healthcare, logistics and transportation, residential and others); and geography”, the surveillance camera market is expected to reach 45.93 billion by 2027 from USD 21.82 Bn in 2018. Embedding Artificial Intelligence in Surveillance Cameras to Provide Growth Opportunities for Surveillance Cameras Market Players
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In the global CCTV industry, various future trends are expected to boost the adoption of surveillance cameras across various industry verticals. Some of the top trends include end-to-end AI-based security solutions, cybersecurity features, cloud-based solutions, privacy management, and vertical specialized solutions. The integration of technologies such as artificial intelligence, cloud, and Internet of Things into existing and upcoming surveillance equipment and solutions to meet demanding customer demands is fueling the future growth of the global surveillance camera market. Artificial intelligence (AI) and deep learning (DL) are playing an increasingly important role in the surveillance camera market and offer significant advantages over conventional video analytics. Advances in AI are expected to boost surveillance cameras by enabling continuous monitoring and instant analysis of footage. Artificial intelligence facilitates surveillance, feeds captured images and alerts guards to suspicious activity in and around workstations.
Additionally, AI is used in CCTV cameras for a wide range of applications such as facial recognition, motion detection, license plate reading, and people counting in retail stores or restaurants. shopping centers, among others. Through the use of artificial intelligence, end users are able to mine specific analytics data that contributes actionable intelligence for various functions. Automated surveillance is on the rise thanks to new machine learning techniques giving CCTV cameras the ability to spot disturbing behavior without human supervision. IT companies and surveillance system manufacturers are working together to develop advanced AI-based security cameras for a wide range of video surveillance applications.
Top Surveillance Camera Market Players: Canon Inc., Dahua Technology Co., Ltd., FLIR Systems, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Hanwha Techwin Co., Ltd., Honeywell International Inc., Panasonic Corporation, Pelco Enterprise, Robert Bosch GmbH, The Infinova Group
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Market Insights-Security Camera Market
Significant increase in adoption of IP cameras
The security and surveillance industry has emerged over the years, and the trend is to shift from physical security to video security and surveillance with the support of camera technology. The change is mainly driven by factors such as increased safety and time, cost effectiveness and end user convenience. Moreover, CCTV systems provide various benefits to their users, such as better productivity at work, remote monitoring, traffic management, protection against theft, and also help in collecting evidence in the court cases. During the initial phase of CCTV technology, analog cameras were widely used; however, the industry foresees a change with the increased acceptance and adoption of IP cameras. The main advantage of IP cameras over conventional cameras is the advantage of transferring captured images or data directly over the Internet, in a fraction of a second. IP cameras are either centralized and require a network video recorder (NVR) to monitor the recordings, or decentralized where the camera recordings can be stored in any of the remote or local storage devices. Additionally, the use of Wi-Fi is available with IP cameras to transfer data instantly. In addition, the possibility of installing numerous video analysis software in these cameras for automatic analysis of images by the cameras also arouses the interest of various end users.
The global surveillance camera market has been segmented as follows:
Surveillance Camera Market – By Type
Surveillance Camera Market – By Product Type
Box style cameras
Surveillance Camera Market – By End User
Government & Defense
Manufacturing and construction
Logistics & Transportation
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