Authored By: Sarah
17 Nov 2023

Video Surveillance Market is forecasted to witness USD 28.79 Bn revenue growth through 2023-2027

Estimated revenue growth for the video surveillance market between 2022 and 2027 is USD 28.79 billion, with a compound annual growth rate (CAGR) of 9.33%. The desire to reduce terrorist attacks and criminal activity, the applicability of video surveillance for smart cities, and the development of video surveillance in the commercial sector are all major factors driving this market's growth.

As per video surveillance market analysis Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Corp., Hexagon AB, Huawei Investment and Holding Co. Ltd., i PRO Co. Ltd., Motorola Solutions Inc., NEC Corp., NICE Ltd., Robert Bosch GmbH, Teledyne Technologies Inc., Tiandy Technologies Co. Ltd. are some prominent names in market landscape  contributing significantly in market development

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Video Surveillance Market at a Glance


Navigating through the growth drivers of the Video Surveillance Market it has been observed the primary growth drivers include

  • The need to mitigate criminal activities and terrorist attacks is primarily driving market advancement. Video surveillance solutions are also deployed to curb antisocial activities
  • Governments' stringent regulations that require the installation of video surveillance solutions in public locations such as hypermarkets, hospitals, airports, ports, railway stations, hotels, and malls to curb criminal  activities and for safety issues
  • The advent of smart AI-based video surveillance is also impacting the market growth as the incorporation of AI technology can compensate for human errors by offering a superior standard of facial, faceless, behavioral, and object detection benefiting the cause.

For instance, SenseTime, an AI start-up based in China, offers AI-based facial recognition technology to several local governments and private security firms in the country.  Technologies like this are extensively used in various pilot smart city projects.  Our report includes qualitative and quantitative analyses of vendors with a wider understanding of the business ecosystem. 

Get a comprehensive report summary of our best-selling report on the Video Surveillance Market describing the market landscape in our data-backed report that captures the growth trajectory of the market along with the market dynamics 

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 9.33%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by
    USD 28.79 Bn through 2023-2027.
  3. What is a key factor driving this market?
    The need to mitigate criminal activities and terrorist attacks will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    APAC, North America, Europe, the Middle East and Africa, and South America are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    47% growth will originate from APAC
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