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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

A video surveillance system provides visual surveillance where there is no on-site observer. A video surveillance system (VSS) includes various electronic components such as camera, recording/control unit, and output interface namely monitor. It also includes storage, encoders, interface, and management software. Furthermore, surveillance can be performed directly or can be assessed, stored, and repeated as frequently as necessary. This includes surveillance from distance with electronic equipment such as CCTV cameras. Video surveillance plays crucial for law enforcement agencies in maintaining law and order, monitor and recognize threats, and prevent criminal activities. Furthermore, video management, storage, and analytics solutions are hosted centrally in cloud computing and can be accessed with the help of the internet in the video surveillance-as-a-service (VSaaS) delivery model.

The global video surveillance and VSaaS market is estimated to be valued at US$ 56.46 billion in 2021 and is expected to exhibit a CAGR of 13.9 % over the forecast period (2021-2028).

Recent Developments:

In June 2021, a Indian Institute of Technology, Bombay a India based institute developed  AI platform for real-time video surveillance.

In July 2021, Indian Railways, a India based Railway company and RailTel Corporation of India Ltd., a Indian based telecom company to deploy video surveillance systems at Indian railways stations.

In January 2021, Zhejiang Dahua Technology Co., Ltd., a China based technology company launched AI-based video surveillance system and smart IoT systems.

Statistics:

Figure 1. Global Video Surveillance and VSaaS Market Value (US$ Mn), by Region, 2020

Video Surveillance and VSaaS  | Coherent Market Insights

Asia Pacific held dominant position in the global mobile phone accessories market in 2020, accounting for 39.6% share in terms of Value, followed by North America and Europe, respectively.

Global video surveillance and VSaaS Market: Drivers

Increasing security concerns and government regulations are expected to drive growth of the global video surveillance and VSaaS market during the forecast period. Video surveillance plays a crucial role in the security industry to avoid criminal and terrorist activities. Governments across the globe are investing significantly in technological advancements of the most advanced surveillance networks, in order to augment the fight against local crimes and anti-terrorism activities. According to the U.S. National Security Agency, since the incidence of 9/11, U.S. law enforcement agencies have been able to stop over 50 terrorist plots in the country.

Advancements in technology related to high-resolution perfect imaging and video analytics are expected to propel the global video surveillance and VSaaS market growth over the forecast period. A significant number of cameras are employed video surveillance systems in various industries due to the availability of IP cameras with higher resolution that provides more storage. VSaaS is increasingly becoming more practical due to considerable technological advancements in this field including the availability of H.264 video compression for a broad range of security products and the wider reach of high-speed internet connections. Moreover, an H.24 video feed requires only 10% to 20% of the bandwidth as compared to motion JPEG.

Global Video Surveillance and VSaaS Market: Opportunities

Mobile video surveillance has started gaining significant traction in the market since it facilities various services such as recording of video on an on-board device and availability data download wirelessly when the vehicle returns to the station. Technological advancements have made it possible to stream videos wirelessly from mobile video surveillance cameras to a control center. Mobile video surveillance solutions include student transit, mass transit (buses and railways), vehicle rearview backing solutions, and mobile video management solutions.

The introduction of IoT has enabled electronic devices to connect and communicate with each other. Several sensors have to be located in different devices to generate data to achieve this. Moreover, network cameras are expected to examine individually and take smart decisions based on their own with the help of IoT capabilities. Thus, the demand for HDTV and smart CCTV is expected to increase significantly with increasing data security concerns. Market players can capitalize on these opportunities and gain a competitive edge in the market.

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Video Surveillance and VSaaS Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 56.46 Bn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 13.9% 2028 Value Projection: US$ 155.48 Bn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., France, Italy, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, Israel,  South Africa, North Africa, Central Africa, Rest of Middle East
Segments covered:
  • By Component: Hardware (Cameras, Recorders and Storage, Encoders, Monitors), Software (Video Analytics, Video Management Software (VMS)), Services (Hosted service, Managed service, Hybrid service)
  • By Type: Analog Video Surveillance and VSaaS, IP-based Video Surveillance and VSaaS
  • By End user Application: Residential, Retail, Business Organization, Transportation, Government Buildings, Hospitality, Industrial, Stadiums, Others
Companies covered:

Zhejiang Dahua Technology Co., Ltd., Agent Video Intelligence, Hangzhou Hikvision Digital Technology Co., Ltd, GeoVision, Inc., Canary Connect, Inc., Pelco, Inc., Honeywell Security Group, Homeboy, Inc., D-Link Systems, Inc., NETGEAR Inc., Genetec, Inc., FLIR Systems, Inc., Panasonic System Networks Co. Ltd, Axis Communications AB, Cisco Systems Inc., and Robert Bosch GmbH.

Growth Drivers:
  • Increasing security concerns and government regulations 
  • Advancements in technology related to high-resolution perfect imaging and video analytics
Restraints & Challenges:
  • Major challenges regarding privacy concerns 
  • High cost of IP video surveillance systems

Market Trends

Advent of smart surveillance system that assesses and captures video only when motion is detected in front of the camera has started to gain significant traction in the market. Although the current impact of smart surveillance systems is average, this impact is expected to increase during the forecast period, owing to rising demand for storage efficacy and cost-efficiency in video surveillance systems.

A wireless video surveillance system includes a receiver and transmitter. These systems can encompass a wide range of areas and help save wiring and maintenance costs. Thus, this has led to an increase in wireless connection and easy availability of wireless infrastructure. Moreover, emergence of 4G LTE technology is expected to boost adoption of wireless video surveillance systems over the forecast period.

Figure 2. Global Video surveillance and VSaaS Market Share, By End user Application, 2020

Video Surveillance and VSaaS  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Transportation held dominant position in the market and accounted for 9% share in the global video surveillance and VSaaS market in 2020. The segment is expected to reach US$ 28.62 billion in 2028. This is owing to rapidly growing number of railway station across the globe.
  • The IP-based video surveillance VSaaS segment accounted for largest market share of 3% in the global video surveillance and VSaaS Market in 2020 and is expected to reach US$ 155.48 billion by 2028, owing to rapid adoption of IP-based video surveillance by security agency.

Global Video Surveillance and VSaaS Market: Restraints

Major challenges regarding privacy concerns are expected to restrain growth of the global video surveillance and VSaaS market during the forecast period. Privacy concerns still remain the major factor hindering growth of the market. Although the majority of the population has appreciated the implementation of video surveillance, a certain part of the population feels it is a violation of their privacy and hence it has witnessed opposition in the recent past. Various associations including the Electronic Privacy Information Center and the New York Civil Liberties Union have started to collect support against public surveillance.

High cost of IP video surveillance systems is expected to hamper the global video surveillance and VSaaS market growth over the forecast period. Although surveillance images have become smooth, sharp, and clear, designers have to maintain the balance between the image quality and affordable bandwidth. The major sector affected by this dilemma is personal home, building, small retail surveillance as these end users seek for cheaper alternatives rather than investing in modern advanced surveillance options.

Competitive Section

Key players involved in the global video surveillance and VSaaS market are Zhejiang Dahua Technology Co., Ltd., Agent Video Intelligence, Hangzhou Hikvision Digital Technology Co., Ltd, GeoVision, Inc., Canary Connect, Inc., Pelco, Inc., Honeywell Security Group, Homeboy, Inc., D-Link Systems, Inc., NETGEAR Inc., Genetec, Inc., FLIR Systems, Inc., Panasonic System Networks Co. Ltd, Axis Communications AB, Cisco Systems Inc., and Robert Bosch GmbH.

Key Developments

  1. Major companies in the market are involved in product launches, in order to expand product portfolio. For instance, in April 2019, Agent Video Intelligence introduced Innovi, an AI-powered video analytics solution for security.

Key market players are focused on product development, in order to enhance the market presence. For instance, in January 2020, D-Link Systems, Inc., introduced AI-powered person and glass break detection to Wi-Fi cameras at CES 2020.  

A video surveillance system provides visual surveillance where there is no on-site observer. A video surveillance system (VSS) includes various electronic components such as camera, recording/control unit, and output interface namely monitor. It also includes storage, encoders, interface, and management software. Typically it is used for surveillance in areas that require constant monitoring including banks, stores, government offices, etc. Video surveillance is used to curb criminal or terrorist activities. Furthermore, surveillance can be performed directly or can be assessed, stored, and repeated as frequently as necessary. This includes surveillance from distance with electronic equipment such as CCTV cameras.  Moreover, Video surveillance-as-a-service (VSaaS) offers cost-efficiency, a wide array of products for hosted video, access to value-added services, efficient conversion of the analog system to IP, and enhanced system performance.

Market Dynamics

Increasing government regulation to monitor the civilian activity to prevent the criminal activity and monitor the public places is expected to drive the global video surveillance and VSaaS market in the forecast period. Various government agencies across the world are emphasizing use of CCTV cameras to monitor crowded places For instance, in March 2020, Government of Maharashtra, a state in India, according to statement given by Maharashtra home minister, government is trying to change the building law for both old and new building. According to this law it is compulsory to installed CCTV in both old and new building and live feed access is given to the law enforcement agencies. Thus Increasing government regulation to monitor the civilian activity to prevent the criminal activity and monitor the public places is expected to drive the global video surveillance and VSaaS market in the forecast period

However, increasing privacy concern about the personalized data is expected to hamper this market. For instance, in May 2019, Delhi government issued rule to install CCTV camera in school classroom and live feed access is given to the parents. For same rule Supreme Court of India, issued a notice against the Delhi government on the basis of violates right to privacy and gives rise to stalking and voyeurism.       

Key features of the study:

  • This report provides an in-depth analysis of the global video surveillance and VSaaS market and provides market size (US$ billion) and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global video surveillance and VSaaS market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global video surveillance and VSaaS market includes Zhejiang Dahua Technology Co., Ltd., Agent Video Intelligence, Hangzhou Hikvision Digital Technology Co., Ltd, GeoVision, Inc., Canary Connect, Inc., Pelco, Inc., Honeywell Security Group, Homeboy, Inc., D-Link Systems, Inc., NETGEAR Inc., Genetec, Inc., FLIR Systems, Inc., Panasonic System Networks Co. Ltd, Axis Communications AB, Cisco Systems Inc., and Robert Bosch GmbH.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global video surveillance and VSaaS market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global video surveillance and VSaaS market.

Detailed Segmentation:

  • Global Video Surveillance and VSaaS Market, By Component:
    • Hardware
      • Cameras
      • Recorders and Storage
      • Encoders
      • Monitors
    • Software
      • Video Analytics
      • Video Management Software (VMS)
    • Services
      • Hosted service
      • Managed service
      • Hybrid service
  • Global Video Surveillance and VSaaS Market, By Type:
    • Analog Video Surveillance and VSaaS
    • IP-based Video Surveillance and VSaaS
  • Global Video Surveillance and VSaaS Market, By End user Application:
    • Residential
    • Retail
    • Business Organization
    • Transportation
    • Government Buildings
    • Hospitality
    • Industrial
    • Stadiums
    • Others
  • Global Video Surveillance and VSaaS Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Zhejiang Dahua Technology Co., Ltd*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Agent Video Intelligence
    • Hangzhou Hikvision Digital Technology Co., Ltd
    • GeoVision, Inc.
    • Canary Connect, Inc.
    • Pelco, Inc.
    • Honeywell Security Group
    • Homeboy, Inc.
    • D-Link Systems, Inc.
    • NETGEAR Inc.
    • Genetec, Inc.
    • FLIR Systems, Inc.
    • Panasonic System Networks Co. Ltd
    • Axis Communications AB
    • Cisco Systems Inc.
    • Robert Bosch GmbH.

*Browse all the market data tables and figures on “Global Video Surveillance and VSaaS Market- Forecast to 2028”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Component
      • Market Snippet, By Type
      • Market Snippet, By End user Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Video Surveillance and VSaaS Market, By Component, 2017-2028 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Hardware
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
        • Cameras
        • Recorders and Storage
        • Encoders
        • Monitors
    • Software
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
        • Video Analytics
        • Video Management Software (VMS)
    • Services
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
        • Hosted service
        • Managed service
        • Hybrid service
  5. Global Video Surveillance and VSaaS Market, By Type, 2017-2028 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Analog Video Surveillance and VSaaS
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
    • IP-based Video Surveillance and VSaaS
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
  6. Global Video Surveillance and VSaaS Market, By End user Application, 2017-2028 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Residential
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
    • Retail
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
    • Business Organization
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
    • Transportation
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
    • Government Buildings
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
    • Hospitality
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
    • Industrial
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
    • Stadiums
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
    • Others
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Billion)
  7. Global Video Surveillance and VSaaS Market, By Region, 2017-2028 (US$ Billion)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2028 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Component, 2017–2028 (US$ Billion)
      • Market Size and Forecast, By Type, 2017–2028 (US$ Billion)
      • Market Size and Forecast, By End user Application, 2017–2028 (US$ Billion)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Component, 2017–2028 (US$ Billion)
      • Market Size and Forecast, By Type, 2017–2028 (US$ Billion)
      • Market Size and Forecast, By End user Application, 2017–2028 (US$ Billion)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Component, 2017–2028 (US$ Billion)
      • Market Size and Forecast, By Type, 2017–2028 (US$ Billion)
      • Market Size and Forecast, By End user Application, 2017–2028 (US$ Billion)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Component, 2017–2028 (US$ Billion)
      • Market Size and Forecast, By Type, 2017–2028 (US$ Billion)
      • Market Size and Forecast, By End user Application, 2017–2028 (US$ Billion)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Component, 2017–2028 (US$ Billion)
      • Market Size and Forecast, By Type, 2017–2028 (US$ Billion)
      • Market Size and Forecast, By End user Application, 2017–2028 (US$ Billion)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • Zhejiang Dahua Technology Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Agent Video Intelligence
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hangzhou Hikvision Digital Technology Co., Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • GeoVision, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Canary Connect, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Pelco, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Honeywell Security Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Homeboy, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • D-Link Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NETGEAR Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Genetec, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • FLIR Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Panasonic System Networks Co. Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Axis Communications AB
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Cisco Systems Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Robert Bosch GmbH.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse XX market data tables and XX figures on “Global Video Surveillance and VSaaS Market-forecast to 2028”.

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Frequently Asked Questions

The global video surveillance and VSaaS market is estimated to be valued at US$ 56.46 billion in 2021 and is expected to exhibit a CAGR of 13.9% over the forecast period (2021-2028).
Emergence of smart surveillance systems wireless video surveillance systems are key trends in the market.
The forecast for the market is 2021-2028, with 2020 base year.
Increasing security concerns and government regulations are expected to drive growth of the market during the forecast period.
Major challenges regarding privacy concerns are expected to restrain growth of the market during the forecast period.
Zhejiang Dahua Technology Co., Ltd., Agent Video Intelligence, Hangzhou Hikvision Digital Technology Co., Ltd, GeoVision, Inc., Canary Connect, Inc., Pelco, Inc., Honeywell Security Group, Homeboy, Inc., D-Link Systems, Inc., NETGEAR Inc., Genetec, Inc., FLIR Systems, Inc., Panasonic System Networks Co. Ltd, Axis Communications AB, Cisco Systems Inc., and Robert Bosch GmbH.
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