Global Intelligent Video Surveillance Systems Market Scope Report

Global Intelligent Video Surveillance Systems Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global intelligent video surveillance systems market is estimated to garner a revenue of USD 100 Billion by the end of 2033 by growing at a CAGR of ~20% over the forecast period, i.e., 2023 – 2033. Further, the market generated USD 49 billion in revenue in the year 2022. the primary growth factor of the intelligent video surveillance systems market is increasing demand from government entities for surveillance capabilities. This increase in demand has driven vendors to develop smarter and more efficient video technology that can help these organizations manage their resources more effectively. As per the reported data, by 2021, there are projected to be 85 million surveillance camera installations in the US, up from 70 million in 2018, a 21 percent increase across the globe.

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Object detection and tracking frequently relied on background estimate and removal in video surveillance systems. The main goal of modern video surveillance systems is to use video compression technologies to effectively multiplex or store images from numerous cameras onto mass storage devices. Monitoring vehicular and pedestrian traffic, keeping an eye on people's movements to spot suspicious activities, and people counting are all applications of visual surveillance. Three components make up an unusual surveillance application: moving detection, object tracking, and higher-level motion analysis. As per recent data, using the H.264 baseline profile at CIF and VGA resolutions, automated face recognition performance equivalent to that of uncompressed video could be achieved at bitrates as low as 128kbs.

Global Intelligent Video Surveillance Systems Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Adoption of Video Analytics and AI-powered Solutions – Organizations may overcome these obstacles with the use of artificial intelligence while also enhancing security and safety on their property. By incorporating cutting-edge AI-powered solutions with current video surveillance systems, security personnel can monitor the premises around-the-clock without constantly being glued to displays. According to the Bureau of Labor Statistics estimates that just night patrols in the USA take up about one-million-person hours.

• Rise in Crime Rates – According to the 2018 data, there were 368.9 violent crimes estimated to have occurred per 100,000 people, while there were 2,199.5 property crimes. When compared to 2017, the violent crime rate dropped by 3.9 percent, while the property crime rate dropped by 6.9 percent.

• Introduction of Smart City Initiatives – One of the most fundamental building blocks of smart cities is video surveillance. As per recent data, the latest technology, including Internet of Things (IoT) sensors, is used by smart cities to gather data all over the place. There will be more than 30 billion connected IoT devices by 2025.

• Increasing Demand from Public Sectors such as Security – Technology, such as video surveillance, has long been utilized by security companies and security personnel to monitor property and increase the effectiveness of their security operations. The age, sex, and time of a customer's visit can all be determined by security camera data, which store managers can also use for business analytics. As per recent data, by 2021, there are projected to be 85 million surveillance camera installations in the US, up from 70 million in 2018, a 21 percent increase.

Challenges

• Low Adoption Rates

• High Cost of Installation and Deployment

• Limited Data Storage Capacity

The global intelligent video surveillance systems market is segmented and analyzed for demand and supply by system type into analog surveillance, and IP surveillance cameras. out of these, the analog surveillance segment is anticipated to hold the largest share over the forecast period due to its low cost and ease of installation. Additionally, they are commonly used in retail environments and public areas such as airports and train stations. As per recent data, using a new Video Management System (VMS) solution and 1,100 IP video cameras, a major cargo airport in the US has been able to meet all of its needs, including security and surveillance. In addition to offering photos with exceptional clarity, the system also allows for 30-day video archiving at a frame rate of 30.

Global Intelligent Video Surveillance Systems Market Regional Synopsis

Regionally, the global intelligent video surveillance systems market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2033 due to the increasing adoption of these systems in large commercial establishments and rising security threats to the growth of the market in the region. As per recent statistics, 46% of all cyberattacks worldwide are directed at Americans, making the United States still the most frequently attacked nation.

Market Segmentation

Our in-depth analysis of the global intelligent video surveillance systems market includes the following segments:

Key Companies Dominating the Global Intelligent Video Surveillance Systems Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global intelligent video surveillance systems market that are included in our report are IBM, AD Aerospace PLC, Global ePoint Inc., Groups Latecoere SA, Honeywell Security, Siemens, Television, Robert Bosch GmbH, Cisco Systems Inc., Axis Communication AB, and others.

Global Intelligent Video Surveillance Systems Market: Latest Developments

• 13th December 2021: Honeywell Security, Honeywell has agreed to buy US Digital Designs, Inc., a privately owned firm with headquarters in Tempe, Arizona, for a purchase multiple of 14X EBITDA in an all-cash deal, the company stated today. The company provides dispatch communications and alerting technologies that improve first responders' effectiveness and enable quicker emergency response times.

• 7th December 2021: Robert Bosch GmbH, Bosch is making additional strategic moves to establish itself as a market leader in the software-driven mobility of the future. The business will create and market fundamental automotive software, middleware, cloud services, and universal application development tools in the future under the auspices of its subsidiary ETAS GmbH.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the client’s requirement helping them to see possible and unexpected challenges and unforeseen opportunities to help them reach their goals.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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