October 3, 2023

Security Pix Your World

Redefining Vigilance

Video Surveillance Market worth $83.3 billion by 2028

5 min read

CHICAGO, Aug. 25, 2023 /PRNewswire/ — The global video surveillance market is expected to be valued at USD 53.7 billion in 2023 and is projected to reach USD 83.3 billion by 2028; it is expected to grow at a CAGR of 9.2% from 2023 to 2028 according to a new report by MarketsandMarkets™. Growing security concerns, the embrace of smart city projects, increasing demand for analytics, and advancements in AI-driven video analysis collectively fuel the video surveillance market.

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Browse in-depth TOC on “Video Surveillance Market” 
190 – Tables
53 – Figures
278 – Pages

Video Surveillance Market Report Scope:

Report Coverage


Market Revenue in 2023

$53.7 billion

Estimated Value by 2028

$83.3 billion

Growth Rate

Poised to grow at a CAGR of 9.2%

Market Size Available for


Forecast Period


Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Offering, System, Vertical and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Need for high-capacity storage systems and increased bandwidth

Key Market Opportunities

Increasing adoption of smart devices for remote monitoring

Key Market Drivers

Deployment of AI-driven video analytics algorithms

Video Surveillance market for a software segment to hold the highest CAGR during the forecast period.

The software segment in the video surveillance market is projected to exhibit the highest compound annual growth rate (CAGR) due to several factors. Firstly, advancements in artificial intelligence (AI) and machine learning (ML) have led to the development of sophisticated video analytics software, enhancing the capabilities of surveillance systems. Secondly, the increasing integration of video surveillance with other technologies such as IoT and access control necessitates robust software solutions. Moreover, the demand for real-time monitoring, data analysis, and remote access drives the adoption of software platforms. The innovations in cloud-based solutions further boost the growth potential of the software segment in the video surveillance market.

Video Surveillance market for IP Video Surveillance System segment to hold the highest market share during the forecast period.

The significant growth of IP video surveillance systems can be attributed to various factors. IP cameras offer higher image quality and advanced features compared to analog alternatives, aligning with the shift towards digital technology. Additionally, the integration of video surveillance into the Internet of Things (IoT) framework enhances overall security and operational efficiency through seamless data sharing. The ability to provide remote access and real-time monitoring meets modern security demands, while the incorporation of AI-powered analytics further bolsters threat detection and response capabilities.

Video Surveillance market for infrastructure vertical to exhibit the highest CAGR during the forecast period.

The infrastructure vertical in the video surveillance industry is positioned for the largest CAGR due to the escalating need for advanced security solutions in urbanization and smart city initiatives. Critical infrastructure like transportation hubs, utilities, and public facilities demand robust surveillance systems to ensure safety and operational efficiency. Growing investments in infrastructure modernization, particularly in both developed and developing regions, drive the adoption of video surveillance technologies. Regulatory mandates for increased security measures in critical facilities further contribute to the rapid expansion of this vertical.

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Video Surveillance market for Asia Pacific to hold the highest CAGR during the forecast period.

Rapid urbanization, particularly in countries like China and India, drives the demand for robust security measures across various sectors. Concurrently, the escalating security concerns in both developed and developing economies fuel the adoption of advanced video surveillance technologies. The region’s increasing investments in smart city initiatives further amplify the integration of surveillance systems for enhanced safety and efficient urban management. Moreover, technological advancements, including AI-powered analytics, find strong footholds in the Asia Pacific, contributing to the prominence of Asia Pacific in the global video surveillance market.

The video surveillance companies includes major Tier I and II players like Hangzhou Hikvision Digital Technology Co., Ltd. (China), Zhejiang Dahua Technology Co., Ltd. (China), Zhejiang Uniview Technologies Co., Ltd. (China), i-PRO Co., Ltd. (Japan), Huawei Technologies Co., Ltd. (China) and others. These players have a strong market presence of video surveillance across various countries in North America, Europe, Asia Pacific, and RoW.

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About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Research Insight: Insight/video-surveillance-market.asp
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