Latest News- Video Surveillance Market: Hardware is expected to lead the Product segment during 2025-2029

The Video Surveillance Market is being driven by Need to mitigate criminal activities and terrorist attacks

The Video Surveillance Market is expected to grow at a CAGR of 11.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 44181.7 million. The integration of Artificial Intelligence (AI) in video surveillance systems has revolutionized the industry, transcending its role as a passive deterrent. AI introduces smart automation, enabling the analysis of vast amounts of surveillance data to generate insightful intelligence. Real-time analysis of live video streams with minimal human intervention is now achievable through AI technology. For instance, Intel's Movidius employs AI and deep learning to make video surveillance proactive by identifying unattended objects and behavior monitoring. Strategic partnerships between Movidius and industry leaders like Hangzhou Hikvision Digital Technology and Dahua Technology will boost the adoption of AI-driven video surveillance during the forecast period. AI's ability to correct human errors and provide superior standards of facial, faceless, behavioral, and object detection sets it apart as an indispensable tool for enhanced security solutions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Hardware
  • Software
  • Services
• End-user
  • Public
  • Commercial
  • Residential
• Type
  • IP video system
  • Analog video system
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Need to mitigate criminal activities and terrorist attacks
• Suitability of video surveillance for smart cities
• Expanding scope of video surveillance in commercial sector

However, the market also witnesses some limitations, which are as follows:

• Issues related to privacy
• Security of surveillance data
• Infrastructural requirements

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Market Scope in Video Surveillance Market Research Report

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Research Analysis Overview

The Video Surveillance Market is experiencing significant growth due to increasing security concerns, smart city initiatives, and business intelligence applications. Technology advancements, including AI-powered video, remote monitoring, real-time access, and integration of video with access control, are driving market expansion. Regulatory requirements, human operators, machine learning, computer vision, and potential threats are also factors. Key verticals include healthcare organizations, security applications, borders, transportation infrastructure, corporate houses, educational institutes, buildings, and various industries like IP surveillance in departmental stores, food chains, malls, factories, and workshops. The market includes IP security cameras, wireless solutions, and the transition from analog format to digital technology. Anticorruption programs and fugitive tracking are additional applications.

Market Research Overview

The Video Surveillance Market is a significant segment of the broader Global Electronics Market, encompassing manufacturers of security cameras, video management systems, and related technology. According to Technavio, the Global Electronic Equipment and Instruments Market size is determined by the revenue generated from the sales of associated ICT and electronics products, equipment, and components. Factors driving growth in this market include heightened security concerns, smart city initiatives, business intelligence applications, regulatory requirements, and advancements in technology, such as AI-powered video surveillance and remote monitoring capabilities. These trends are particularly relevant to the demand for video surveillance equipment in industries like transportation, healthcare, and retail, where real-time access to data is crucial. Technological advancements and digital transformation across various sectors, including semiconductors, automotive, IT, consumer electronics, industrial, energy, and medical devices, are also contributing to the increasing demand for electronic test and measurement equipment.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/