Video Surveillance Market to Reach USD 123.1 Billion with 11.10% CAGR from 2024 to 2032
May 15, 2025
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Video Surveillance Market Insights
The global Video Surveillance Market is expanding rapidly, primarily driven by increasing security concerns, the adoption of advanced technologies, and the growing demand for smart infrastructure. With smart cities becoming mainstream and a rising focus on biometric integration and IoT-enabled surveillance systems, the video surveillance industry is poised for robust growth.
According to Market Research Future (MRFR), the global video surveillance market size was valued at USD 53.4 billion in 2023. It is projected to grow from USD 56.4 billion in 2024 to USD 123.1 billion by 2032, registering an impressive CAGR of 11.10% during the forecast period (2024–2032). The surge in demand for real-time surveillance, remote monitoring, and AI-based analytics are major contributors to this market momentum.
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Key Companies in the Video Surveillance Market includes.
- Axis Communications AB (Sweden)
- Panasonic System Networks Co. Ltd. (Japan)
- Bosch Security Systems Inc. (US)
- NICE System Ltd. (Israel)
- FLIR Systems Inc. (US)
- Zhejiang Dahua Technology Co. Ltd. (China)
- Hanwha Techwin Co. Ltd. (South Korea)
- Pelco (US)
- Hangzhou Hikvision Digital Technology Co. Ltd. (China)
- Avigilon Corporation (Canada)
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Key Market Drivers
Smart City Development: Rapid urbanization and government-backed smart city initiatives are boosting investments in modern surveillance systems.
Rising Adoption of Biometric and AI-Powered Solutions: Integration of facial recognition, license plate recognition, and behavior analytics into surveillance systems is transforming the sector.
Internet of Things (IoT) and Cloud Integration: IoT enables interconnected surveillance systems, improving scalability and data accessibility.
Increasing Crime Rates and Security Threats: Both public and private sectors are ramping up video surveillance deployments for preventive and investigative purposes.
Demand from Retail, Transportation, and BFSI: These sectors are heavily investing in video surveillance for operational monitoring and security enhancement.
The COVID-19 pandemic also accelerated the adoption of video surveillance systems to ensure public safety and enforce health protocols, further pushing the industry's relevance.
Regional Analysis
Asia-Pacific dominates the global video surveillance market, driven by massive investments in infrastructure, rising security concerns, and technological advancements in China, India, and Japan.
North America follows, with strong adoption in government, commercial, and institutional sectors. The presence of leading market players and advanced network infrastructure supports growth in this region.
Europe is also witnessing growing demand, particularly in public transportation, stadiums, and urban surveillance due to increasing terror threats and the need for traffic management.
Market Segmentation
The video surveillance market is segmented based on:
Component: Hardware (cameras, storage devices), software (video analytics, video management systems), and services (installation, maintenance).
System Type: Analog, IP-based, and hybrid systems.
Application: Commercial, residential, infrastructure, military & Défense, public facilities, and industrial.
IP-based systems and video analytics software are expected to experience the highest growth due to superior image quality and intelligent data processing capabilities.
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Industry News
Sept. 2023 – Honeywell launched an AI-powered video surveillance platform integrating facial recognition and real-time anomaly detection, targeting smart city and enterprise markets.
Aug. 2023 – Axis Communications introduced an edge-based video analytics suite to improve situational awareness and reduce bandwidth requirements in large-scale deployments.
Final Outlook
The video surveillance market is entering a dynamic era of transformation with advanced analytics, AI, IoT, and cloud solutions becoming standard. As public safety and intelligent monitoring gain global traction, the demand for next-gen surveillance technologies is set to surge.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country-level market segments enable our clients to see more, know more, and do more, which help answer your most important questions.
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