Security And Surveillance
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How Large Will the Security And Surveillance Market Size By 2025?
In recent years, there has been significant growth in the security and surveillance market. The market size is anticipated to expand from $19.17 billion in 2024 to $20.95 billion in 2025, showcasing a compound annual growth rate (CAGR) of 9.3%. The surge in the market during the historic period is credited to factors such as warfare and conflict, urban growth and increasing population, criminal undertakings, societal and political movements, as well as intelligence and counterintelligence procedures.
How Big Is the Security And Surveillance Market Size Expected to Grow by 2029?
Robust expansion is predicted for the security and surveillance market in the forthcoming years, with its value anticipated to reach $28.15 billion in 2029, reflecting a compound annual growth rate (CAGR) of 7.7%. The anticipated growth during the forecast period can be associated with a range of factors, including globalization, cross-border threats, public opinion and trust, economic considerations, emerging hazards, quantum computing, and encryption. Key trends for the forecast period encompass the evolution of surveillance technologies, breakthroughs in artificial intelligence (AI) and machine learning, the integration of IoT (Internet of Things), the advent of biometric technologies, and the emergence of cloud-based surveillance solutions.
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Which Key Market Drivers Powering Security And Surveillance Market Expansion and Growth?
The rise in terrorism and illicit actions are projected to fuel the expansion of the security and surveillance sector in the future. Terrorism is characterized by the use of violent means to instill fear for political, religious, or ideological reasons, while illegal actions comprise activities that infringe established laws and regulations, often resulting in legal repercussions. The proliferation in terrorism and unlawful activities arises from a complex combination of socio-economic inequality, political unrest, religious radicalism, and global interconnectedness. Security and surveillance systems are utilized to identify and prevent terrorist activities and illegal actions by scrutinizing and analyzing suspicious activities, probable threats, and illicit networks. For instance, a global terrorism index report released by the Institute for Economics and Peace (IEP), an Australian research organization focusing on creating metrics for peace analysis, noted that in 2022, the average fatalities per terrorist incident increased by 0.4. Terrorist attacks have now become more deadly, claiming an average of 1.7 lives per attack as opposed to 1.3 fatalities per attack in 2021. Further, in 2022, a total of 6,701 deaths due to terrorist activities were reported. Consequently, the escalating rates of terrorism and illicit activities are prompting the growth of the security and surveillance sector.
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Which Fast-Growing Trends Are Poised to Disrupt the Security And Surveillance Market?
Leading firms in the security and surveillance sector are concentrating on creating innovative approaches such as artificial intelligence surveillance solutions to bolster security procedures and threat recognition capabilities. AI surveillance amplifies security and surveillance measures by utilizing complex algorithms and machine learning to process a large volume of data, identify peculiarities, and heighten monitoring and reaction efficiency in different settings. For instance, Vivotek Inc., a company from Taiwan that specializes in IP cameras, video management software, and edge AI video analytics, marked its entrance into the subscription market in August 2022 by launching VORTEX in the United States. This cloud-based video surveillance as a service (VSaaS) underlines the company’s capacity to merge camera, app, web, cloud, and advanced learning technologies into a sturdy AI surveillance solution. VORTEX features upgraded AI video analysis, increased real-time detection, and retrospective search abilities, complemented by sophisticated deep search algorithms that convert metadata into searchable and quantifiable data. The system consistently enhances its accuracy in identifying people, vehicles, and environmental elements over time.
What Are the Emerging Segments in the Security And Surveillance Market?
The security and surveillance market covered in this report is segmented –
1) By Type: Security Cameras, Digital Video Recorder And Network Video Recorder (DVR And NVR)
2) By Technology Type: Video Surveillance, Smart Home Security, Information Technology (IT) Security, Workplace Surveillance
3) By End-user: Industrial, Commercial, Residential, Other End-Users
Subsegments:
1) By Security Cameras: Analog Security Cameras, IP (Internet Protocol) Security Cameras, Wireless Security Cameras, PTZ (Pan-Tilt-Zoom) Cameras, Thermal Cameras, 360-Degree Cameras
2) By Digital Video Recorder and Network Video Recorder (DVR and NVR): Analog DVR Systems, IP-based NVR Systems, Hybrid DVR/NVR Systems, Cloud-based DVR/NVR Systems, Standalone DVR/NVR Systems
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Who Are the Global Leaders in the Security And Surveillance Market?
Major companies operating in the security and surveillance market are Samsung Electronics Co. Ltd., Dell Technologies Inc., Panasonic Corporation, Cisco Systems Inc., Hanwha Corporation, Schneider Electric SE, Honeywell International Inc., Zhejiang Dahua Technology Co. Ltd., ABB Ltd., Avnet Inc., Johnson Controls International plc, Tyco International plc, Hikvision Digital Technology Co. Ltd., Seagate Technology plc, Motorola Solutions Inc., NetApp Inc., Bosch Security Systems, FLIR Systems Inc., Axis Communications AB, Uniview Technologies Co. Ltd., IDIS Co. Ltd., Quantum Corporation, VIVOTEK Inc., Nedap N.V., MOBOTIX AG, Genetec Inc., Infortrend Technology Inc., Rasilient Systems Inc., Tiandy Technologies Co. Ltd.
Which are the Top Profitable Regional Markets for the Security And Surveillance Industry?
Asia-Pacific was the largest region in the security and surveillance market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the security and surveillance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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