Surveillance Camera Market Size, Share & Trends Analysis Report By Product Type (IP-based, Cellular Camera, Analog Camera), By Deployment (Indoor, Outdoor), By Resolution Capacity, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global surveillance camera market size was estimated at USD 33.99 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.7% from 2023 to 2030. The growth of the market for surveillance cameras is primarily driven by the increasing need for enhanced security and safety measures across various sectors. In response to accelerating concerns about security and occurrences of criminal activities, enterprises, governments, and individuals are pursuing reliable surveillance solutions to monitor their premises and deter potential risks effectively. In addition, growing urbanization and infrastructure development across the globe are further driving the demand for surveillance camera systems to monitor critical facilities and ensure public safety.

Due to rapid urbanization, there is an increasing demand for commercial, residential, and infrastructure projects. This increase in demand is also attracting a larger population toward urban areas. Moreover, rapid urban growth requires the construction of tall structures, housing units, multiplexes, workspaces, and transportation networks to accommodate the increasing population and improve economic advancement. Consequently, infrastructure development has emerged as a significant cause propelling construction endeavors and thereby stimulating the need for surveillance cameras.

The increasing demand for advanced, solar-powered, and cellular connectivity-based surveillance cameras to improve the security of individuals and their property is propelling the growth of the market. For instance, in March 2023, Dahua Technology Co., Ltd. launched a 4G solar power network camera. The camera features are built-in solar panel, high-performance 4G modules, passive infrared detection, lithium battery, light and sound alarm linkage, and other useful features. Owing to these features, it is ideal for situations that lack electricity supply lines and wired networks.

The capacity of 5G technology to provide reduced latency and high data speeds compared to previous network generations acts as a notable driver for market growth. The capability for rapid data transfer enables quick and efficient transmission of large video files from surveillance cameras to monitoring centers or cloud storage platforms. In addition, the increased adoption of artificial intelligence (AI) driven cameras performing real-time video analysis is also playing a significant role in the market's growth. Cameras powered by AI provide features such as facial recognition, object detection, and behavioral analysis, thereby enhancing the efficiency of surveillance systems.

The high initial installation cost of surveillance cameras is a major factor that is expected to restrain the growth of the market. Setting up a comprehensive surveillance system requires significant investment in purchasing high-quality cameras, storage devices, networking infrastructure, and other essential equipment. Apart from hardware costs, installation, and setup-related costs, such as labor, cabling, and integration with existing security systems, can further contribute to the overall initial investment. These financial expenses can pose challenges for organizations operating on tight budgets or with limited resources, making it difficult to justify the return on investment.

COVID-19 Impact

The outbreak of the COVID-19 pandemic led to extensive concerns regarding security and safety, subsequently increasing the need for surveillance cameras. Homeowners preferred investing in surveillance setups to monitor their residences and assets. Simultaneously, businesses installed surveillance systems to ensure proper compliance with health and safety protocols and to address potential security risks amid remote work arrangements and reduced staffing levels. The inclination toward surveillance camera systems with remote monitoring capabilities gained momentum, enabling real-time access to live video streams and recordings from a distance through mobile applications or online platforms. This, in turn, is propelling the growth of the surveillance camera market post-COVID-19 period.  

Product Type Insights

Based on product type, the IP-based segment led the market and accounted for more than 45.0% share of the global revenue in 2022. The segment is further bifurcated into wired and Wi-Fi. Internet Protocol (IP) cameras offer digital video surveillance by sending and receiving video recordings over the Local Area Network (LAN) or Internet. Increasing demand for IP cameras to improve security and safety in businesses, schools, government, healthcare, industrial, and military organizations is attributed to the segment’s growth.

The cellular camera segment is anticipated to grow at a significant CAGR during the forecast period. The segment includes 4G and 5G connectivity-based surveillance cameras. Factors such as the growing demand for 5G technology, rising development of 5G infrastructure, and adoption of 5G networks in video surveillance applications due to its increased bandwidth potential are propelling the growth of the segment. Furthermore, the adoption of 4G cellular surveillance cameras for business security is growing as they deliver a scalable and cost-effective surveillance solution, allowing business owners to monitor their assets and premises.

Deployment Insights

Based on deployment, the outdoor segment dominated the market and accounted for more than 72.0% share of the global revenue in 2022. Outdoor surveillance cameras are crucial in ensuring a premise's security and safety, serving as both surveillance tools and preventive measures. The expansion of this segment can be attributed to the rising need and adoption of advanced security cameras for outdoor monitoring in various settings such as commercial establishments, residential properties, toll collection points, roadways, vehicles, and diverse public spaces encompassing both urban and rural areas. In addition, outdoor surveillance cameras offer benefits to businesses and property, such as access and perimeter monitoring, deterrence of criminal activity, and monitoring of property labor.

The indoor segment is expected to grow at a significant CAGR over the forecast period. The utilization of indoor surveillance cameras has witnessed substantial growth in recent years. This growth is primarily attributed to several factors, such as integrating these cameras into smart home systems, the escalating security concerns within residential and commercial applications, and the ongoing advancements in video surveillance technologies. Furthermore, the growth of this segment is also propelled by the rise in home renovation projects within urban localities and the accelerating demand for smart home devices.

Resolution Capacity Insights

Based on resolution capacity, the High Definition (HD) segment dominated the market and accounted for more than 41.0% share of the global revenue in 2022. The HD surveillance camera records and captures video footage at a higher resolution (720p (1280x720 pixels) or higher) than standard-definition cameras. It delivers more detailed and clearer videos and images. Increasing adoption of HD surveillance cameras owing to their benefits such as high-quality images and video footage, improved crime deterrence, and high-quality alarm systems is fueling the segment’s growth.

The Ultra High Definition (UHD) (4K) segment is expected to grow at the highest CAGR over the forecast period. A UHD or 4K surveillance camera provides a 4K resolution, translating to an image resolution of approximately 3840 x 2160 pixels. These cameras provide enhanced image quality and finer details, making them suitable for applications demanding precise and top-notch video recording. In addition, due to their wide-angle lenses, 4K or UHD surveillance cameras can capture a broader frame and more area than lower-resolution cameras.

End-use Insights

Based on end-use, the commercial infrastructure segment accounted for over 32.0% share in 2022. The growing adoption rate of surveillance cameras for monitoring commercial spaces, such as corporate offices, commercial real estate, shopping centers/malls, retail shops, and other business establishments is attributed to the segment’s growth. Surveillance cameras in the abovementioned commercial spaces offer a strong deterrence against theft, vandalism, and unauthorized access, ensuring the safety of assets, customers, and employees. Furthermore, increasing development and investment in commercial infrastructure across the globe is expected to drive the demand for surveillance cameras over the forecast period.

The industrial segment is expected to grow at the highest CAGR over the forecast period. Industrial applications of surveillance cameras include their use in manufacturing plants, construction sites, mining sites, and electricity distribution sites, among other places. Video surveillance plays an important role in enhancing the safety, effectiveness, and efficiency of manufacturing operations at factories, plants, or mills. For instance, in the mining industry, these cameras play a crucial role in the security and safety of mine workers, equipment, and machinery. They offer real-time video monitoring capabilities, allowing operators to observe ongoing activities in the mine site.

Regional Insights

The Asia Pacific region dominated the market and accounted for more than a 58.0% share of the global revenue in 2022. The region is expected to grow at the highest CAGR during the forecast period. Numerous countries in this region are investing in smart city projects, encouraging the adoption of surveillance cameras for traffic control, urban development, and public safety. Integrating surveillance systems with Internet of Things (IoT) technology and cloud-driven solutions is progressively gaining traction in the market. This facilitates improved remote access, data storage, and scalability, addressing the evolving needs of enterprises and governmental bodies.

The North America region is expected to grow at the highest CAGR during the forecast period. The adoption of surveillance cameras in North America has been consistently on the rise in recent years. Several factors contribute to this trend, including increasing concerns about security, increasing incidence of urban area crimes, and a growing demand for improved surveillance and safety measures. Enterprises, governments, and individuals are acknowledging the significance of surveillance cameras in deterring criminal actions and facilitating investigations and evidence compilation.

Key Companies & Market Share Insights

The market players are continuously working toward new product development and up-gradation of their existing product portfolio for several applications, such as smart homes. For instance, in February 2023, Swann introduced the CoreCam Pro Wireless Spotlight Security Camera. The camera can be used as a standalone system or can be integrated with other devices for a comprehensive surveillance solution in smart homes. The CoreCam Pro provides improved 2K resolution and a sensor spotlight to prevent unwanted activity and aid with color night vision.

In addition, in May 2022, Robert Bosch GmbH expanded its Inteox open camera portfolio by introducing two new fixed cameras: the Dinion and the Flexidome Inteox 7100i IR cameras. These AI-powered cameras enhance efficiency in numerous outdoor and indoor applications, including government facilities, airports, city surveillance, and traffic monitoring. Some prominent players in the global surveillance camera market include:

• Honeywell International Inc.

• Cisco Systems, Inc.

• Eye Trax

• Nokia Corporation

• Panasonic Holdings Corporation

• Robert Bosch GmbH

• Teledyne FLIR LLC

• Milesight

• Dahua Technology Co., Ltd.

• Swann

Surveillance Camera Market Report Scope

Global Surveillance Camera Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global surveillance camera market report based on, product type, deployment, resolution capacity, end-use, and region:

• Product Type Outlook (Revenue, USD Million, 2017 - 2030)

  • IP-based

    • Wi-Fi

    • Wired

  • Cellular Camera

    • 4G

    • 5G

  • Analog Camera

• Deployment Outlook (Revenue, USD Million, 2017 - 2030)

  • Indoor

  • Outdoor

• Resolution Capacity Outlook (Revenue, USD Million, 2017 - 2030)

  • High Definition (HD)

  • Full High Definition (FHD)

  • Ultra High Definition (UHD) (4K)

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Residential

  • Commercial Infrastructure

  • Public Facilities

  • Industrial

  • Military & Defense

  • Others (Agricultural Sites, Wildlife Monitoring Sites)

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • Kingdom of Saudi Arabia

    • UAE

    • South Africa