Surveillance Camera Market Size, Trends and Growth Analysis by 2027

In 2018, the global market for surveillance cameras was valued at approximately US$ 21.82 billion and is projected to expand at a compound annual growth rate (CAGR) of 8.7% from 2019 to 2027, reaching an estimated US$ 45.93 billion by 2027.

The surge in security concerns, coupled with extensive infrastructural developments and a notable increase in the adoption of Internet Protocol (IP) cameras, are key factors propelling the growth of the surveillance camera market globally. Nevertheless, issues surrounding data security may pose challenges to the market's future expansion. Despite these potential hurdles, the incorporation of artificial intelligence (AI) into surveillance cameras is anticipated to positively influence market growth in the years ahead.

The video surveillance sector is experiencing rapid growth, driven by the changing security landscape, an increasing demand for innovative security solutions, and the rising integration of advanced technologies like AI in surveillance systems. The ongoing trends of digital transformation and automation in business processes are compelling organizations in critical sectors such as banking, financial services, insurance (BFSI), government, defense, and healthcare to invest in robust security systems to ensure safety and comply with regulatory requirements. Furthermore, the demand for surveillance cameras is expected to rise due to the growing trend of smart cities, smart homes, and intelligent workplaces worldwide. Within the global video surveillance market, several future trends are likely to enhance the adoption of surveillance cameras across various industry sectors. Notable trends include AI-driven end-to-end security solutions, enhanced cybersecurity features, cloud-based solutions, privacy management, and specialized solutions tailored to specific verticals. The integration of technologies such as AI, cloud computing, and the Internet of Things (IoT) into both existing and new surveillance systems is driving the anticipated growth of the global surveillance camera market.

The surveillance camera market is categorized based on type, product type, end user, and geographical region. In terms of type, the market is divided into analog and IP cameras. The IP camera segment has consistently held the largest share of the market throughout the forecast period and is expected to be the fastest-growing type of surveillance camera, thanks to ongoing technological advancements in IP camera systems. Regarding product type, the market includes dome cameras, bullet cameras, box-style cameras, PTZ (pan-tilt-zoom) cameras, thermal cameras, and others. In 2018, dome cameras captured a significant portion of the global surveillance camera market, followed closely by bullet cameras. PTZ cameras are projected to experience the highest CAGR from 2019 to 2027. The market is also segmented by end users, which include BFSI, government and defense, commercial sectors, manufacturing and construction, healthcare, logistics and transportation, residential, and others. During the forecast period, the commercial sector, BFSI, and government and defense are expected to be the primary contributors to the overall growth of the global surveillance camera market.

Key players in the surveillance camera market include Canon Inc., Dahua Technology Co., Ltd, FLIR Systems, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Hanwha Techwin Co., Ltd., Honeywell International Inc., Panasonic Corporation, Pelco Corporate, Robert Bosch GmbH, and The Infinova Group, among others.
 
The overall size of the surveillance camera market has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the surveillance camera market. This research also provides an overview and forecast for the global surveillance camera market based on the various segments across five major regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Additionally, primary interviews were conducted with industry participants and commentators to validate the data and analysis. Participants typically include industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the surveillance camera market.