Wireless Video Surveillance Market size was USD 39.3 billion in 2021 and is slated to register a double digit CAGR of 10.3% during 2022-2029 and is projected to reach USD 85.5 billion in 2029
The factors driving growth of the Wireless Video Surveillance Market includes increasing demand for wireless video surveillance systems in smart city projects, rising deployment of wireless video surveillance systems at police cars, trains, school buses and airports and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT), rising incidences of vehicle thefts, increasing number of infrastructure projects across the globe, advent of 4K video resolution and rapid urbanization, are some of the additional factors supplementing the Wireless Video Surveillance Market size. In addition, the increasing investments by major corporations on research and development, rise in the launch of innovative products, strategic partnerships and collaborations between enterprises and growing population growth rates, are further contributing towards the market growth.
However, growth of the Wireless Video Surveillance Market is hindered due to rising concerns related to security and privacy,
The leading players operating in the Wireless Video Surveillance Market are Hangzhou Hikvision Digital Technology Co., Ltd., Samsung, Hi-Focus, Honeywell International Inc, Sony Electronics Inc., Bosch Sicherheitssysteme GmbH, CP PLUS International, SimpliSafe, Inc., ADT and Canary Connect, Inc, among others.
Based on Component, the Hardware segment is predicted to grow at a significant CAGR during the forecast period
Wireless video surveillance system requires hardware such as camera, computer, and receiver to operate and offers thermal screening, motion detection and night vision, which is propelling growth of the segment.
Based on System, the IP Camera segment is projected to grow at a robust CAGR over the forecast period
Images captured by IP cameras are easy to access, integration of advanced analytics solutions with IP cameras, are pushing growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
Increasing deployment of wireless video surveillance systems at retail stores, residential apartments and hospitals, rise in the number of smart cities across India, China and Indonesia, rapid urbanization, growing per capita income and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.
Key Developments
- In 2021, Bosch Sicherheitssysteme GmbH developed new traffic detector software designed primarily for traffic applications such as intersection monitoring, automatic incident detection, and facilitating data-driven decision-making.
- In 2020, CP PLUS International launched AI Super-Precision face-recognition attendance solution built with temperature measurement, face recognition, assess control, and provided alerts.
Market Segmentation
Segmentation by Component
- Hardware
- Software
- Services
Segmentation by System
- IP Camera
- Analog
Segmentation by End-User
- Commercial
- Industrial
- Residential
- Government & Defence
- Others
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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