Global Video Surveillance Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Video Surveillance Systems Market is expected to grow at a CAGR of 10. 06% over the forecast period 2021 to 2026. IP video surveillance is being primarily used for security purposes for additional reasons across multiple countries during the COVID-19 pandemic.

New York, Dec. 23, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Global Video Surveillance Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" -
These next-generation cameras are well equipped with high-performance computing power and video analytics, enabling the users to transform real-time images into big data analysis. Under social distancing practices and norms, several video analytic techniques have been commonly deployed in order to take precautionary measures, including queue management, people counting, crowd detection, and personal protective equipment (PPE) detection.

Key Highlights
The growth of the video surveillance market is expected to be fueled by the introduction of new IP-based digital technologies to detect and prevent undesirable behaviors, such as shoplifting, thefts, vandalism, and terror attacks. ?Video surveillance is being adopted in multiple industries that include manufacturing, banking & financial services, and transportation, retail industries, among others. The incorporation of these systems is higher in countries such as the United States, the United Kingdom, India, China, and Brazil, majorly owing to the larger size of the concerned industries and higher awareness among consumers.?
Additionally, the deployment of video analytics, along with video surveillance cameras, to identify potential felons is expected to aid in reducing the crime rate in various countries. Furthermore, this is expected to increase the demand for an integrated surveillance system. For instance, Surat police in the state of Gujarat, India, operates a network of 604 cameras in 114 different locations for easy detection of criminals. Moreover, they have been using video-based analytics solutions, which are deployed at the command-and-control center, primarily to track down street crimes. The software deployed was a facial recognition and automated number plate recognition (ANPR) solution. The overall solution includes software for detecting cases of overspeeding as well.
VSaaS has been witnessing a significant improvement, in terms of adoption, in the past few years. This is primarily due to the market penetration of IP camera sales. Significant factors, such as IT cost containment by major IT organizations, the emergence of data centers, and improving functionalities associated with centralized data, are aiding the VSaaS segment’s growth. ?
The Asia Pacific video surveillance market has grown significantly due to the increasing use of video surveillance cameras in the field of security and law enforcement, mainly to reduce the crime rate in countries like India and China. For instance, according to the Chinese Ministry of Public Security, Ministry of Justice (China), Supreme People’s Procuratorate (China), Supreme People’s Court, in 2020, around 1.65 million theft crimes were committed in China. In China, cameras are primarily placed in public spaces and are funded by the government to deliver widespread video surveillance coverage within public areas.
?However, these video surveillance systems have also been viewed as a violation of privacy and are opposed by various civil liberties groups and activists. There have been increasing concerns about who watches the video and how the video might be misused because people expect that their personal information is used only for legitimate and specific purposes.

Key Market Trends

Commercial Segment is to Dominate the Market

The infrastructure segment includes road, rail, airports, stadiums, etc. Technological advancements in the video surveillance industry have led to the development of night vision cameras designed to work in low-lit areas. Infrastructure segments, specifically roads, need night-vision cameras to monitor traffic and keep track of suspicious activities. These factors are expected to accentuate the demand in the infrastructure segment.
Cameras offer a wide range of video surveillance applications, including scene monitoring, facial recognition, video smoke detection, remote video monitoring, automatic number plate recognition, etc. Presently, consumer requirements include cameras of HD-compliant 1080p 25/30 fps technology. With the growing need for security, high-definition technologies in video surveillance are expected to penetrate the market during the forecast period.
Cameras with pan, tilt and wide zoom features are preferred to detect and track intruders. 360-degree panoramic cameras and thermal infrared cameras, which can operate in the dark, are expected to witness increased adoption over the forecast period. The previous models of 4K cameras offer a lower frame rate resolution. However, the advent of 4K in video surveillance is much ahead in the consumer market, as compared to that of 1080p.
Further, the use of GPU (Graphics Processing Unit) in the video surveillance system is accelerating the camera capabilities by at least 25% higher performance, 30% higher camera counts at full HD resolution, and 30 frames per second against 15-30 frames per second, which was throwing a massive pile of CPU earlier.
Advent to this, the infrastructures have become smarter across the world in recent years, with the incorporation of Artificial Intelligence and deep learning technology-enabled cameras expected to increase during the forecast period. Several chip/processor companies are investing in developing AI chips for the cameras. For instance, in recent years, HiSilicon (Shanghai) Technologies Co. Limited launched a series of high-performance AI chips for the camera to address surveillance intelligence.
Another hardware advancement that occurred is the intelligent video surveillance cameras related to the concept of mobile vision. Consumer electronics companies are developing mobile application-based video surveillance cameras. For instance, Xiaomi introduced a 360-degree camera with mobile vision capabilities for smart home applications. The increase in smart home projects across the world is expected to contribute to the deployment of such technologies to improve public safety.

China in Asia Pacific is presumed to dominate the market

The introduction of the smart cities concept in the country is the major driving force for the video surveillance market in China. Advanced video surveillance techniques have been integrated with the city administration to boost efficiency. Yinchuan city in China is an example of an advanced smart town where everything, from buses to dustbins, is integrated into a unified system.
One of the pioneer systems designed using video surveillance was the Hangzhou "City Brain" project, created by Chinese retail and tech company Alibaba, which uses camera systems and sensors across the city to collect data on road conditions in real-time. The data is fed to an AI hub, which manages traffic signals at 128 intersections and helps city officials make better decisions faster.
China is making progress on a surveillance system that will connect security cameras nationwide via a cloud to a database of every person’s facial ID profile and a file of their personal details, according to an article in the South China Morning Post (SCMP). The article has led to a discussion as to whether the system already exists and what its potential dangers may be.
The SCMP piece updates the story on the Chinese government’s plan to implement a national system that could use surveillance cameras to identify any one of China’s 1.3 billion people within 3 seconds and with at least 88% accuracy. The project has been underway since 2015, and various technology companies have been involved. It is, however, facing some technical difficulties.
China is a major driver for AI surveillance worldwide, as it is home to companies, such as Huawei, ZTE, Dahua, and Hikvision, that provide surveillance technology for over 63 countries, with 32 of them signed onto China’ Belt and Road Initiative.

Competitive Landscape

The Video Surveillance Systems Market is highly competitive due to the presence of many key players constantly upgrading themselves to gain a competitive advantage over other players. The video surveillance market is currently dominated by major players like Honeywell Security Group, Bosch Security Systems Incorporated, Samsung Group, Schneider Electric SE, Panasonic Corporation, among others.

December 2021: Axis Communications launched an open-source project for video authentication that ensures the integrity of surveillance video, and it is implemented in the company’s cameras. Axis has published a document detailing a framework that will serve as a starting point for partners to implement integrated video authentication methods.
September 2021: Bosch’s Intrusion Control Panels (B and G Series) were integrated with LENSEC’s Perspective Video Management Software (PVMS). This new partnership of the companies would allow security operators to manage intrusion, fire, and access control systems while monitoring video surveillance cameras behind one pane of glass.
April 2021: FLIR and Neurala partnered to develop AI-Powered Industrial Machine Vision. This new imaging system allows users to rapidly create deep learning models using Neurala’s Brain Builder on the VIA platform with little data and no AI expertise. These models can be directly uploaded to a Flir Firefly DL camera using the free Flir Spinnaker software development kit.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report:

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.



Contact Data