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The surveillance and security equipment market is estimated to increase by USD 38.13 billion between 2022 and 2027. The size of the market is forecast to grow at a CAGR of 10.39%. Market growth hinges on various factors, such as the imperative to curb criminal activities and thwart terrorist threats, the escalating demand for surveillance and security solutions in smart urban environments, and the burgeoning need for commercial surveillance and security measures. The rise in the demand to combat criminal activities and terrorist threats stands out as a significant factor driving market expansion. Worldwide, the looming presence of advanced criminal and terrorist operations is fueled by escalating territorial disputes, geopolitical tensions, and an increase in global terrorism. Specifically, nations such as the US and the UK have experienced an uptick in terrorist incidents, leading to an increased need for security and surveillance equipment.
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The market share growth by the commercial segment will be significant during the forecast period. The commercial segment includes establishments such as hotels, restaurants, retail stores, malls, private hospitals, and office complexes. The growing number of commercial establishments and rising awareness about effective asset and access point management to mitigate untoward security incidents increase the use for commercial purposes.
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The commercial segment was valued at USD 39.47 billion in 2017 and continued to grow until 2021. The deployment allows commercial establishments to manage security cost-effectively under a single, centralized, and flexible system. For instance, the monitoring and evaluation of production processes, manufacturing plants, and factories necessitate the protection of assets, cargo, and equipment from theft and tampering. Hence, it is used on the premises. In addition, it maintains worker safety in factories, reduces false liability claims, and enables efficient assembly line production to drive the growth of the market in this segment. Furthermore, the use of this equipment is increasing in BFSI organizations due to its vulnerability to security threats. Additionally, supermarkets and convenience stores face various threats, such as shoplifting, employee theft, flash rob theft, and organized retail crime. Therefore, they require the equipment to ensure the round-the-clock safety of customers, the workforce, and merchandise. Hence, such factors will drive the market during the forecast period.
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APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growth of the market in APAC is driven by rapid urbanization and industrialization in countries such as China and India. Beijing, China. Many developed countries in the region have adopted surveillance and security equipment due to the technological maturity of industries and the need to safeguard their citizens. These developed countries have a mature end-user base due to the standardization of industries and the presence of a framework for public safety.
The focus on infrastructural development by emerging economies is also driving the growth of the market in the region. According to the Asian Development Bank (ADB), countries in APAC will require USD 26 trillion by 2030 to build public infrastructure. The ADB and the Asian Infrastructure Investment Bank (AIIB) have co-financed various public-sector infrastructure projects in countries such as Pakistan and Bangladesh. Furthermore, the initiatives of the Government of India, such as the Smart Cities Mission, the Swachh Bharat Abhiyan (SBA), the Sardar Patel National Urban Housing Mission, the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), and the Heritage City Development and Augmentation Yojana (HRIDAY), promote urbanization, which will drive the growth of the market in the country. In addition, other government initiatives, such as the Safer City Plan, which focuses on ensuring the safety of women, will increase the adoption. Therefore, these factors will influence the growth of the regional market during the forecast period.
The Surveillance and Security Equipment Market is primarily driven by the imperative need to enhance safety and mitigate criminal activities across various sectors. Rising concerns over theft, fraud, and violence have propelled the demand for advanced security solutions, including CCTV cameras, alarm systems, and new-generation surveillance equipment. Moreover, the construction of large infrastructures, coupled with the expansion of smart cities, has further augmented the demand for robust surveillance systems to ensure the safety of persons and assets.
Additionally, the emergence of new-generation CCTV cameras equipped with advanced features such as high-resolution imaging and remote monitoring capabilities is a significant trend in the market. Furthermore, the integration of audio equipment and cloud-based data storage solutions has revolutionized surveillance practices, providing enhanced security and facilitating seamless data access and management. However, the market also faces challenges related to privacy concerns and regulatory compliance, particularly with laws like the General Data Protection Regulation (GDPR), necessitating continuous innovation in IT infrastructure to address these issues while sustaining market growth.
Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The surge in the need to counteract criminal activities and terrorist threats is a prominent driver propelling market growth. Across the globe, the specter of sophisticated criminal and terrorist operations looms large, fueled by escalating territorial conflicts, geopolitical tensions, and a surge in global terrorism. Particularly, countries like the US and the UK have witnessed a rise in terrorist incidents, prompting a heightened demand for security and surveillance equipment. Stringent regulations imposed by governments mandate the installation of such equipment in public spaces like hypermarkets, hospitals, airports, and malls to mitigate antisocial behaviors such as intrusion, robbery, and violence. These solutions not only foster a safe environment but also aid law enforcement agencies in tracking and apprehending criminals, bolstering security measures. Moreover, ongoing advancements in surveillance technology enable preemptive identification of potential threats, further fueling market growth prospects during the forecast period.
Predictive crime monitoring is an emerging trend in the market. Some of this equipment employs AI for predictive crime monitoring. AI is expected to analyze facial recognition, micro-expressions, and behavioral anomalies to predict the probability of crimes before they are committed.
Cortica, a predictive crime monitoring company in Israel, focuses on AI and security. In January 2018, the Government of Israel and the Government of India announced a technology-sharing collaboration between Cortica and the Best Group, a diversified company based in India. According to the collaboration, Cortica would analyze data streaming from CCTV cameras in public areas and deploy crime-predicting technologies to implement predictive crime monitoring. Furthermore, CloudWalk Technology, which is based in China, also uses advanced AI in conjunction with facial recognition and gait analysis to predict the probability of people committing crimes. Moreover, the advent of predictive crime monitoring will increase the number of strategic partnerships and result in the development of innovative products. Hence, this will drive the growth of the market during the forecast period.
The issues related to privacy are major challenges impeding market growth. Although it is used to prevent and detect crimes, their use can lead to privacy issues. Public surveillance systems may cover private areas such as apartments and offices without the consent of owners, which would result in a privacy breach. Extensive surveillance enables governments to compile an overview of the lives of people without their consent. The privacy of people is their fundamental right, and the use of surveillance systems could infringe on it. Therefore, the line between legitimate monitoring and intrusion is blurred.
The key constitutionally protected right challenged by extensive surveillance is the right to anonymity. For instance, couples visiting infertility clinics or psychiatrists may wish to be anonymous and not identified by surveillance equipment. The democratic rights of people to express their views might also be hindered due to extensive surveillance, as they would be hesitant to express views or protest government policies in public if there is a chance of identification by surveillance equipment. In addition, surveillance in stores and streets can also be misused for voyeurism, wherein women may be spied on and sexually exploited. Thus, factors like these will be a major challenge to the growth of the global market during the forecast period.
Key Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Panasonic Holdings Corp. - The company operates under multiple segments including performance lifestyle, and automotive among others, with a high focus on lifestyle.? They focus on home appliance and residential equipment businesses. The company's key offerings include surveillance and security equipment.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is experiencing robust growth driven by advancements in technology and increasing demand for safety measures across various sectors. Surveillance cameras and drones play a pivotal role in monitoring activities and enhancing security in commercial verticals and traffic control operations. Biometric access systems ensure secure entry points, while audio equipment complements video surveillance for comprehensive monitoring solutions. IT services support the integration and management of security systems, with cloud storage enabling efficient storage and retrieval of video surveillance data. As the need for heightened security measures continues to rise, the market is poised for further expansion, offering innovative solutions to safeguard assets, protect individuals, and deter criminal activities.
The market is witnessing robust growth driven by a myriad of factors encompassing public safety concerns, advancements in technology, and evolving security threats. With an increasing emphasis on safeguarding public places and critical infrastructure, governments and enterprises worldwide are ramping up their investments in video surveillance equipment. This surge in demand is fueled by the need to detect abnormal activities, deter criminal behavior, and gather evidence to ensure law enforcement effectiveness.
Modern video surveillance systems, equipped with cutting-edge features like 4K quality video technology, zoom lenses, and microphones, offer enhanced capabilities to monitor and secure diverse locations ranging from commercial sectors to residential buildings. Furthermore, the integration of surveillance technology with smart city initiatives and IoT networks is revolutionizing security operations, enabling real-time monitoring and intelligent threat detection.
In response to evolving security risks, manufacturers are developing innovative solutions such as smart identification systems, access control devices, and networked surveillance feeds to fortify national security and protect personal information. Additionally, the adoption of cloud-enabled IoT solutions and managed security services is on the rise, empowering organizations to mitigate security risks and safeguard sensitive data effectively.
As the global population density increases and the prevalence of cyber threats escalates, the demand for surveillance and security equipment is expected to continue its upward trajectory. From small businesses to large enterprises, the deployment of advanced surveillance solutions is becoming indispensable for ensuring safety, protecting assets, and maintaining public order in an increasingly interconnected world.
Network security is paramount in today's digital landscape, where cyber threats are omnipresent. Employing detectors and access restrictions is essential for safeguarding sensitive data and systems from unauthorized access and malicious activities. Communication and information management systems play a crucial role in maintaining the integrity and confidentiality of data. E-passports and national identity programs are integral components of border control programs, facilitating secure and efficient travel. To bolster security measures, facilities often deploy live video surveillance systems and leverage the Internet of Things (IoT) to connect networked devices and appliances.
In the realm of residential security, smart home ecosystems are gaining traction, incorporating features like security alarms, security cameras, video doorbells, and connected doorbells. Companies like Vivint Smart Home and Securitas Electronic Security offer comprehensive solutions to protect homes and businesses. As the reliance on digital technologies grows, ensuring information security becomes increasingly challenging. Managing big data responsibly and implementing robust security protocols are imperative to mitigate risks.
With the rise of remote work concepts, organizations are turning to workplace surveillance tools and employee monitoring software to maintain productivity and security. However, the ethical implications of such tools raise concerns about employee privacy and autonomy. Workforce management tools like those offered by Vivint Smart Home and Securitas Electronic Security assist in optimizing operations while prioritizing safety and security. Additionally, the fire safety industry plays a vital role in protecting lives and property through proactive measures and advanced technologies.
Surveillance And Security Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.39% |
Market growth 2023-2027 |
USD 38.13 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.63 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aiphone Corp., Allegion Public Ltd. Co., Canon Inc., Cisco Systems Inc., Costar Video Systems, CP PLUS International, Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Techwin America, Honeywell International Inc., Johnson Controls International Plc., Motorola Solutions Inc., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schneider Electric SE, Sony Group Corp., Teledyne FLIR LLC, Tiandy Technologies Co. Ltd., Zhejiang Dahua Technology Co. Ltd., and Zicom SaaS Pvt. Ltd. |
Market dynamics |
Parent market analysis, market research report, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Service
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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