From GlobeNewswire: 2024-12-13 09:00:00

The Video Surveillance Market was valued at USD 60.1 Billion in 2023, projected to reach USD 149.5 Billion by 2032 with a CAGR of 10.67%. Government initiatives worldwide are driving market growth, integrating AI-based analytics for smarter solutions. Demand for real-time monitoring and cloud-based solutions is accelerating, enhancing efficiency in smart cities. IP Video Surveillance Systems lead the market with advanced features and seamless integration into IT infrastructure. The Hardware segment dominates with high demand for surveillance cameras, driven by technological advancements. The Commercial segment leads market revenue, fueled by the need for enhanced security in various sectors. Asia-Pacific leads the market share, with North America showing rapid growth due to increasing surveillance deployments. China’s “SkyNet” program, with AI-powered cameras, now holds 60% of the Asia-Pacific market, boasting over 600 million cameras by year-end. Meanwhile, North America saw rapid growth in the video surveillance market in 2023, capturing a 28% market share driven by increased government investments in security infrastructure, particularly in the U.S. Department of Homeland Security’s focus on critical infrastructure protection. In April 2024, South Korea’s Hanwha Vision and US-based Allied Telesis partnered to offer integrated physical security solutions, while Hikvision introduced Turbo HD 8.0 cameras with two-way audio capabilities for enhanced security applications.

The competitive landscape in the video surveillance market is evolving rapidly, with key players introducing innovative solutions to meet the growing demand for advanced security systems. To access detailed insights and trends in the market, including segmentation by component, system type, vertical, and regional analysis, refer to the comprehensive report available at SNS Insider’s website. SNS Insider offers a range of consulting services, including Go-To-Market Assessment, Total Addressable Market Assessment, and Competitive Benchmarking to help businesses make informed decisions and gain a competitive edge in the market.

SNS Insider is a trusted market research and consulting agency, providing clients with evidence-based strategies for growth in a rapidly changing market landscape. With a focus on delivering accurate market data, consumer insights, and expert opinions through various research methodologies, including surveys, video talks, and focus groups, SNS Insider aims to empower businesses to make informed decisions and thrive in dynamic market conditions.



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