This report is an in-depth study providing a detailed market analysis of video surveillance, with a specific focus on revenues generated by cameras, video storage, software & analytics.
It is a comprehensive overview of the current and anticipated landscape of the video surveillance market. Drawing on in-depth expertise in the fields of Physical Security, IoT, Cyber Security, and Artificial Intelligence, our analysis aims to empower professionals across the industry - from manufacturers to system integrators, from security consultants to end-users.
This report is the first instalment of a two-part series covering Physical Security Technology. Part 2, covering Access Control Systems, is to be published later in Q4 2023. Both these reports are included in “Memoori's 2023 Premium Subscription Service”.
Key Questions Addressed:
What is the size and structure of the global video surveillance market? How is the market broken down into cameras, storage, software and analytics? Where are the dominant geographic markets in the world? How are sales split between 16 different industry verticals?
What are the main drivers for industry growth? How will the market grow over the next 5 years? Which technologies are helping to reshape this market and create new business models?
How are mergers, acquisitions and investments impacting the industry? How does acquisition activity stack up against previous years both in terms of value and volume? How much investment has the market attracted from venture capital and private equity this year?
Within its 219 Pages and 19 Charts, This Report Presents All the Key Facts and Draws Conclusions, so you can understand what is Shaping the Future of the Video Surveillance Industry:
Total global revenues for video surveillance equipment and software at factory gate prices, reached an estimated $30.4 billion in 2022. This represents healthy 4.5% growth over 2021, albeit lower than the 11.7% rebound in 2021 following pandemic impacts. For the 6-year period between 2022-2028, the market is projected to expand at a 5.7% CAGR, reaching $44.8 billion by 2028.
The market has seen a major surge in the adoption of AI-enabled cameras capable of edge processing over the past 2-3 years. These cameras come equipped with various AI-powered functionalities, ranging from basic facial recognition in low-end models to more advanced capabilities like 4K resolution, object classification, behaviour analysis and people tracking in high-end models. Our latest estimates forecast that the percentage of network security cameras shipping with built-in AI capabilities will rise steadily from around 18% in 2022 to over 50% by 2028.
Several interlinked factors are fueling strong demand growth globally for video surveillance solutions. Expanding criminal and terrorist threats have compelled both public and private entities to ramp up security monitoring. However, the video surveillance industry has faced significant supply chain disruptions, product shortages, and cost inflation during the pandemic recovery. Surging demand has outstripped manufacturers' production capacity, especially for key components like semiconductors.
This report provides valuable information into how physical security companies can develop their business strategy through mergers, acquisitions, and alliances.
Geopolitical tensions between China and the West have stirred up the video surveillance market, especially impacting leading Chinese vendors Hikvision and Dahua. US bans prohibit government agencies from purchasing their equipment, while export controls limit access to American technology and participation in US capital markets. The US and its allies cite concerns around data security, human rights controversies, and intellectual property practices.
M&A trends point toward increased competition for small vendors, a pivot from hardware to software, the rise of intelligent video, acceleration of cloud adoption, simplified integrated security offerings, and the competitive advantage of global scale.
Investment trends reveal a focus on both scaling mature firms and investing in disruptive startups. Priorities include AI, cloud migration, geographic expansion, and regulatory adaptability. The market remains open to innovation but cautious given economic conditions.
Who Should Buy This Report?
The information in this report will be of value to all those engaged in managing, operating, and investing in electronic security technology companies (and their advisors) around the world. In particular, those wishing to acquire, merge or sell companies will find its contents particularly useful. Want to know more?
Table of Contents
Preface
Executive Summary
1. The Structure & Shape of the Video Surveillance Business
1.1. Video Surveillance Market Structure
1.2. Company Classifications & Market Share
1.3. Market Dynamics (Porter's Five Forces Analysis)
1.4. Sales & Distribution Channels
2. The Video Surveillance Market
2.1. Video Surveillance Adoption & Investment
2.1.1. Market Operation Conditions
2.1.2. Key Adoption Drivers
2.1.3. Physical Security Spending Plans & Budgets
2.2. Video Surveillance Market Size & Growth Forecasts
2.3. Market Size, Growth & Trends by Major Region
2.3.1. North America
2.3.2. Latin America & The Caribbean
2.3.3. China
2.3.4. The Rest of Asia Pacific
2.3.5. Europe
2.3.6. Middle East & Africa
2.4. Market Size & Trends by Vertical
2.4.1. Offices
2.4.2. Healthcare
2.4.3. Education
2.4.4. Retail
2.4.5. Hospitality
2.4.6. Industrial
2.4.7. Public Infrastructure & City Surveillance
2.4.8. Data Centers
2.4.9. Transportation
2.5. Video Cameras
2.6. Video Surveillance Cameras
2.6.1. Market Size & Growth Trends
2.6.2. Market Dynamics
2.6.3. Key Players & Vendor Landscape
2.7. Body Worn Cameras
2.7.1. Market Size & Growth Trends
2.7.2. Market Dynamics
2.7.3. Key Players & Vendor Landscape
2.8. Thermal Cameras
2.8.1. Market Size & Growth Trends
2.8.2. Market Dynamics
2.8.3. Key Players & Vendor Landscape
2.9. Video Surveillance Software & Analytics
2.9.1. Market Size & Growth Trends
2.9.2. Market Dynamics
2.9.3. Key Players & Vendor Landscape
2.10. VSaaS & Cloud
2.10.1. Market Dynamics
2.10.2. VSaaS Business Models and Competitive Landscape
2.10.3. Technology and Operational Insights
2.10.4. Cost and Regulatory Factors
2.11. Video Storage Hardware & Services
2.11.1. Market Size & Growth Trends
2.11.2. Market Dynamics
2.11.3. Key Players & Vendor Landscape
3. IP Connectivity & the IoT
3.1. The Convergence of IP and IoT
3.2. The Benefits of IoT-Enabled Video Surveillance