Wireless Video Surveillance Market (Updated Version Available)
Wireless Video Surveillance Market Size, Share & Trends Analysis, By Component (Hardware, Software, and Services), Resolution (Full High Definition (FHD) & Ultra High Definition (UHD), High Definition (HD), and Non-High Definition), System (Analog Video Surveillance, IP Video Surveillance, and Hybrid Video Surveillance), Location (Indoor and Outdoor), End-User (Residential, Commercial (Banks & Financial Institutions, Hotels & Restaurants, Healthcare Facilities, Educational Institution, City Surveillance, and Others), and Industrial (Power Plants, Manufacturing Plants, Government & Defense, and Others), By Region, Forecast Period 2023 - 2030
Report ID : RI_665669 | Date : April 2023 |
Format : 
Key Market Overview:
The Wireless video surveillance market is estimated to reach over USD 45.65 billion by 2030, representing a substantial increase from its value of USD 22.95 billion in 2022. This suggests a compound annual growth rate (CAGR) of 8.98% from 2023 to 2030.
Wireless video surveillance refers to the use of wireless technologies to transmit video signals from cameras to a central monitoring station or other devices such as smartphones, tablets, or laptops. Wireless surveillance system eliminates the need for physical cables by enabling remote monitoring and control. Additionally, wireless video surveillance systems use Wi-Fi, cellular networks, or other wireless technologies such as Bluetooth or Zigbee to transmit video signals.
Wireless video surveillance systems provide several benefits over traditional wired systems, including greater flexibility in camera placement, easier installation and setup, and the ability to view and manage surveillance footage remotely. Additionally, the advancements in wireless technologies such as Wi-Fi, cellular networks, and 5G is enabling faster and more reliable wireless video transmission. Therefore, technological advancements are making wireless video surveillance systems more accessible and cost-effective, driving the adoption of the system across a wide range of applications. For instance, in February 2021, Hikvision launched an ITS (Intelligent Transportation System) camera for wireless surveillance to improve road safety and traffic flow. The camera features high-definition video capture with a 2MP lens to better manage traffic flow, detect incidents, and enforce traffic regulations.
Wireless Video Surveillance Report Coverage:
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Market Dynamics:
Driver:
The increasing demand for security solutions is one of the main drivers of the growth of the wireless video surveillance market. The growing number of crime and security threats in businesses, the government sector, and individuals increases the demand for video surveillance to protect assets. Additionally, video surveillance also enables real-time event detection and helps to improve security by quickly alerting security personnel to potential threats or suspicious activities. Moreover, detection in real-time also helps organizations to improve operational efficiency by automating processes and reducing the need for manual monitoring hence, driving the growth of the wireless video surveillance market. For instance, in February 2023, Axis Communications launched AXIS Object Analytics software to improve the accuracy and efficiency of video surveillance systems by providing real-time insights into object detection and tracking. The introduction of the AXIS Object Analytics software enables more effective monitoring and analysis of object movement and behavior in real time.
Restraint:
Bandwidth is a key factor that restrains the growth of the wireless video surveillance market. Bandwidth refers to the amount of data that is transmitted over a network at any given time. Wireless video surveillance systems rely on high bandwidth to transmit video data, and the inability to provide the required bandwidth is negatively impacting the growth of the market. Low bandwidth affects the quality of the video being transmitted, resulting in poor image resolution or pixilation and hence, hindering the growth of the wireless video surveillance market.
Opportunities:
The integration of wireless video surveillance with access control and alarm systems is anticipated to create significant future opportunities for the wireless video surveillance market. The integration of the systems is predicted to enhance the overall effectiveness of the security system by providing real-time alerts and video footage to security personnel. On triggering an alarm system or access control, the video surveillance system automatically begins recording and provides real-time alerts to security personnel. Therefore, the integration is expected to provide a faster response to security incidents and improve the overall effectiveness of the security system, creating potential opportunities for the wireless video surveillance market. For instance, in March 2021, OpenEye and Alarm.com collaborated to offer enhanced video verification of intrusion and alarm events. The collaboration benefits security personnel by providing more accurate and reliable verification of security incidents. Hence, the integration of wireless video surveillance with access control and alarm systems is expected to create potential opportunities for the growth of wireless video surveillance market.
Wireless Video Surveillance Market Competitive Landscape:
The wireless video surveillance market is highly competitive, with several players offering a range of products and services. The companies compete on a range of factors, including product features, pricing, quality, and customer support. As the demand for wireless video surveillance solutions continues to grow, the competition among the players is expected to intensify, with new players entering the market and existing players expanding the offerings. Some of the key players in the market include:
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Motorola Solutions, Inc.
• EZVIZ Inc.
• Cisco Systems, Inc.
• Zebronics India Pvt. Ltd.
• Eagle Eye Networks
• Dahua Technology Co., Ltd
• March Networks
• Amazon.com, Inc.
• OpenEye
Recent Developments:
• In May 2022, Motorola Solutions acquired Videotec to expand its video security portfolio and strengthen Motorola\'s position in the video security market. The acquisition of Videotec is part of Motorolas strategy to integrate Videotecs products into its existing video security portfolio, which includes fixed and mobile cameras, video management software, and analytics solutions.
• In March 2022, EZVIZ launched a new AI camera, the C6, designed to enhance the security experience in homes. The C6 is equipped with advanced AI technology that enables it to identify and track human movement, ensuring that every corner of the room is under surveillance.
Wireless Video Surveillance Market Segmentation:
By Component
The component segment is trifurcated into hardware, software, and services. The hardware segment dominates the market and comprises the camera which is the primary device used to capture video footage and images in a surveillance system. Cameras capture video footage that provides visual evidence of events and activities that are used for investigations, legal proceedings, or other purposes and contribute to the growth of the hardware segment. For instance, in November 2020, Zebronics launched its first home automation camera, the Zeb-Smart Cam 100. The camera is designed to capture video footage and images for use in a surveillance system, with the added feature of home automation capabilities. In conclusion, the increasing use of camera to capture video footage in a surveillance system is driving the growth of hardware segment.
The software component is anticipated to register the fastest Compound Annual Growth Rate (CAGR) in the wireless video surveillance market. The use of Artificial Intelligence (AI) and analytics software has revolutionized the video surveillance industry. AI-based software is projected to analyze video footage in real-time, detect anomalies, and alert security personnel in emergencies that increases the demand for video analytics software thereby, promoting the growth of wireless video surveillance market. For instance, in February 2023, Eagle Eye Networks integrated its cloud-based video software with Advancis, a provider of Physical Security Information Management (PSIM) software. The integration of PSIM+ software with Eagle Eyes cloud video surveillance platform provides real-time video feeds from the cloud video surveillance platform hence, enabling security personnel to quickly respond to potential threats.
By Resolution
Based on the resolution, the market is trifurcated into the full high definition (FHD) & ultra-high definition (UHD), high definition (HD), and non-high definition. High-definition (HD) resolution dominates the wireless video surveillance market as HD resolution provides a much clearer and more detailed picture compared to lower resolutions. The high resolution increases the clarity that is essential in identifying people, objects, or other important details in the video footage. Additionally, HD cameras have a wider field of view, to cover larger areas, thus reducing the number of cameras required and contributing in expanding the growth of the high-definition segment. For instance, in September 2020, Amazon unveiled new wireless security cameras that feature HD video capabilities. The cameras are designed to offer high-quality video footage that is clear and accurate, making easier for users to monitor the homes and businesses. Therefore, the use of HD resolution to provide a clear, precise, and accurate picture is driving the growth of wireless video surveillance market.
Full high definition (FHD) and ultra-high definition (UHD) resolutions are expected to witness the fastest Compound Annual Growth Rate (CAGR) in the wireless video surveillance market. The rise in security concerns and the need for better surveillance, increase the demand for high-resolution video footage, to provide better clarity for security applications. Additionally, the availability of high-speed internet and the development of advanced video compression technologies allow for the transmission of FHD and UHD video wirelessly without any loss of quality. Moreover, FHD and UHD resolutions provide more detailed video footage, for more accurate and reliable video analytics to identify potential security threats effectively. Overall, the increasing demand for high-resolution video footage, combined with technological advancements and improved analytics capabilities, is expected to drive the growth of FHD and UHD resolutions in the wireless video surveillance market.
By System
Based on the system, the market is trifurcated into analog video surveillance, IP video surveillance, and hybrid video surveillance. IP video surveillance dominates the market and is expected to witness the fastest CAGR during the forecast period. IP cameras offer higher resolution and image quality compared to analog cameras, allowing for more detailed and clearer video footage. Additionally, IP cameras incorporate a range of advanced features and capabilities, such as motion detection, facial recognition, and object tracking as compared to analog cameras. Moreover, IP cameras are accessed remotely over the internet, allowing users to view live or recorded video footage remotely with an internet connection. Therefore, superior image quality, advanced features, remote accessibility, and affordability is driving the adoption of IP video surveillance and fueling the growth of the wireless video surveillance market. For instance, in June 2022, March Networks announced the addition of the ME8 Series IP Cameras to the portfolio of surveillance products. The cameras are designed to provide accurate and rapid detection of security incidents, due to the built-in video intelligence technology to identify and track people and vehicles on a property.
By Location
Based on location, the market is bifurcated into indoor and outdoor. Outdoor locations dominate the wireless video surveillance market as outdoor locations are more prone to security threats that increase the demand for video surveillance in outdoor settings. Moreover, wireless cameras incorporate a range of advanced features and capabilities, such as motion detection, facial recognition, and license plate recognition to enhance security and provide greater visibility into outdoor areas.
Additionally, wireless cameras are designed to be weather-resistant and durable, with features such as waterproofing and vandal-proofing that are suitable for outdoor environments hence, contributing to the growth of outdoor location of wireless video surveillance market. For instance, in March 2023, Dahua Technology launched a 4G solar power camera that is designed for video surveillance in outdoor application scenarios. The camera is highly durable and weather-resistant, with rugged housing to withstand extreme temperatures, rain, and wind. Additionally, the camera features advanced video analytics capabilities, including motion detection and object recognition, which are used to trigger alerts and notifications when security incidents occur.
The indoor location is expected to witness the fastest CAGR owing to the rising adoption of wireless video surveillance in homes, schools, and offices. Video surveillance is used to monitor and protect homes and families from any criminal activity, such as theft, vandalism, and violent incidents. Additionally, video surveillance is widely employed in schools to identify and respond to safety hazards, such as fires, floods, and medical emergencies. Moreover, offices also use video surveillance to monitor employee activity and improve security and therefore, promoting the growth of wireless video surveillance in indoor locations. For instance, in September 2022, Airtel launched Xsafe, a home video surveillance service enables customers to monitor the homes remotely from their smartphones or other connected devices. The service is currently available in 40 cities across India and captures high-quality video footage which is accessed by the customer through the Xstream app.
By End-User
The end-user segment is classified into residential, commercial, and industrial. The commercial sector dominates the market and comprises banks & financial institutions, hotels & restaurants, healthcare facilities, educational institutions, city surveillance, and others. Wireless video surveillance is used to monitor banks and ATMs, for detecting any suspicious behavior or transactions. Additionally, video surveillance is also used to identify and track potential fraudsters and helps to prevent financial crimes hence, fueling the growth of the video surveillance market. For instance, in July 2022, the Bank of Baroda launched Hackathon in collaboration with Microsoft. Microsofts expertise in data management and analysis helps the Bank of Baroda to develop more advanced and sophisticated video surveillance solutions to detect and prevent security breaches, ensuring the safety of customers and assets. Therefore, the increasing application of video surveillance in commercial sector to identify and track potential threat is driving the growth of wireless video surveillance market.
The residential sector is expected to witness the fastest CAGR in the wireless video surveillance market as video surveillance enhances the security and safety of homes and families. Video surveillance cameras are used to monitor the entry points of a home, such as doors and windows, and to detect potential intruders. Additionally, video surveillance cameras are projected to be accessed remotely through a mobile app or web browser, allowing homeowners to monitor the homes from anywhere at any time. Moreover, video surveillance cameras have gained applications to monitor any signs of a fire, such as smoke or flames, and alert homeowners to potential dangers. Therefore, video surveillance serves as a valuable tool for enhancing the security and safety of homes and families in the residential sector and is expected to accelerate the market in the coming years.
By Region:
North America dominates the market as the region has a strong focus on security and public safety that raises the demand for video surveillance solutions to monitor and detect potential security threats. Additionally, the presence of key players such as IBM Corporation, Honeywell International Inc., Cisco Systems, and Motorola Solutions (Avigilon) constantly apply innovative technologies, driving the growth of the market in North America. Key players in the market are engaged in partnership and collaboration to strengthen the business and increase the customer base. For instance, in February 2020, Motorola Solutions introduced the H5M Camera to its video security product line to provide AI-powered Unusual Motion Detection (UMD) for outdoor security. The H5M camera has 2-megapixel and 5-megapixel capabilities for tamper detection and line-crossing detection to capture clear and detailed images in both bright and low-light conditions. Therefore, the growingadoption of wireless video surveillance for detecting potential security threats and the presence of strong key players are the primary factors responsible for the growth of the market in North America.
Asia-Pacific is projected to witness the fastest compound annual growth rate (CAGR) in the wireless video surveillance market owing to the rising number of cyber threats, terrorism, and crime in Asia Pacific countries including India and Bangladesh. The rising crime rates create a large market for wireless video surveillance solutions to monitor and detect potential security threats. Additionally, the region receives monetary funding from the government sector for national security including the installation of security cameras for border control and immigration is also bolstering the growth of the wireless video surveillance market.
The Wireless video surveillance market is estimated to reach over USD 45.65 billion by 2030, representing a substantial increase from its value of USD 22.95 billion in 2022. This suggests a compound annual growth rate (CAGR) of 8.98% from 2023 to 2030.
Wireless video surveillance refers to the use of wireless technologies to transmit video signals from cameras to a central monitoring station or other devices such as smartphones, tablets, or laptops. Wireless surveillance system eliminates the need for physical cables by enabling remote monitoring and control. Additionally, wireless video surveillance systems use Wi-Fi, cellular networks, or other wireless technologies such as Bluetooth or Zigbee to transmit video signals.
Wireless video surveillance systems provide several benefits over traditional wired systems, including greater flexibility in camera placement, easier installation and setup, and the ability to view and manage surveillance footage remotely. Additionally, the advancements in wireless technologies such as Wi-Fi, cellular networks, and 5G is enabling faster and more reliable wireless video transmission. Therefore, technological advancements are making wireless video surveillance systems more accessible and cost-effective, driving the adoption of the system across a wide range of applications. For instance, in February 2021, Hikvision launched an ITS (Intelligent Transportation System) camera for wireless surveillance to improve road safety and traffic flow. The camera features high-definition video capture with a 2MP lens to better manage traffic flow, detect incidents, and enforce traffic regulations.
Wireless Video Surveillance Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | USD 45.65 Billion |
| CAGR (2023-2030) | 8.98 % |
| Base Year | 2022 |
| By Component | Hardware, Software, and Services |
| By Resolution | Full High Definition (FHD) & Ultra High Definition (UHD), High Definition (HD), and Non-High Definition |
| By System | Analog Video Surveillance, IP Video Surveillance, and Hybrid Video Surveillance |
| By Location | Indoor and Outdoor |
| By End-User | Residential, Commercial (Banks & Financial Institutions, Hotels & Restaurants, Healthcare Facilities, Educational Institutions, City Surveillance, and Others), and Industrial (Power Plants, Manufacturing Plants, Government & Defense, and Others |
| By Geography |
|
| Key Players | Hangzhou Hikvision Digital Technology Co., Ltd., Motorola Solutions, Inc., EZVIZ Inc., Cisco Systems, Inc., Zebronics India Pvt. Ltd., Eagle Eye Networks, Dahua Technology Co., Ltd, March Networks, Amazon.com, Inc., OpenEye |
Market Dynamics:
Driver:
The increasing demand for security solutions is one of the main drivers of the growth of the wireless video surveillance market. The growing number of crime and security threats in businesses, the government sector, and individuals increases the demand for video surveillance to protect assets. Additionally, video surveillance also enables real-time event detection and helps to improve security by quickly alerting security personnel to potential threats or suspicious activities. Moreover, detection in real-time also helps organizations to improve operational efficiency by automating processes and reducing the need for manual monitoring hence, driving the growth of the wireless video surveillance market. For instance, in February 2023, Axis Communications launched AXIS Object Analytics software to improve the accuracy and efficiency of video surveillance systems by providing real-time insights into object detection and tracking. The introduction of the AXIS Object Analytics software enables more effective monitoring and analysis of object movement and behavior in real time.
Restraint:
Bandwidth is a key factor that restrains the growth of the wireless video surveillance market. Bandwidth refers to the amount of data that is transmitted over a network at any given time. Wireless video surveillance systems rely on high bandwidth to transmit video data, and the inability to provide the required bandwidth is negatively impacting the growth of the market. Low bandwidth affects the quality of the video being transmitted, resulting in poor image resolution or pixilation and hence, hindering the growth of the wireless video surveillance market.
Opportunities:
The integration of wireless video surveillance with access control and alarm systems is anticipated to create significant future opportunities for the wireless video surveillance market. The integration of the systems is predicted to enhance the overall effectiveness of the security system by providing real-time alerts and video footage to security personnel. On triggering an alarm system or access control, the video surveillance system automatically begins recording and provides real-time alerts to security personnel. Therefore, the integration is expected to provide a faster response to security incidents and improve the overall effectiveness of the security system, creating potential opportunities for the wireless video surveillance market. For instance, in March 2021, OpenEye and Alarm.com collaborated to offer enhanced video verification of intrusion and alarm events. The collaboration benefits security personnel by providing more accurate and reliable verification of security incidents. Hence, the integration of wireless video surveillance with access control and alarm systems is expected to create potential opportunities for the growth of wireless video surveillance market.
Wireless Video Surveillance Market Competitive Landscape:
The wireless video surveillance market is highly competitive, with several players offering a range of products and services. The companies compete on a range of factors, including product features, pricing, quality, and customer support. As the demand for wireless video surveillance solutions continues to grow, the competition among the players is expected to intensify, with new players entering the market and existing players expanding the offerings. Some of the key players in the market include:
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Motorola Solutions, Inc.
• EZVIZ Inc.
• Cisco Systems, Inc.
• Zebronics India Pvt. Ltd.
• Eagle Eye Networks
• Dahua Technology Co., Ltd
• March Networks
• Amazon.com, Inc.
• OpenEye
Recent Developments:
• In May 2022, Motorola Solutions acquired Videotec to expand its video security portfolio and strengthen Motorola\'s position in the video security market. The acquisition of Videotec is part of Motorolas strategy to integrate Videotecs products into its existing video security portfolio, which includes fixed and mobile cameras, video management software, and analytics solutions.
• In March 2022, EZVIZ launched a new AI camera, the C6, designed to enhance the security experience in homes. The C6 is equipped with advanced AI technology that enables it to identify and track human movement, ensuring that every corner of the room is under surveillance.
Wireless Video Surveillance Market Segmentation:
By Component
The component segment is trifurcated into hardware, software, and services. The hardware segment dominates the market and comprises the camera which is the primary device used to capture video footage and images in a surveillance system. Cameras capture video footage that provides visual evidence of events and activities that are used for investigations, legal proceedings, or other purposes and contribute to the growth of the hardware segment. For instance, in November 2020, Zebronics launched its first home automation camera, the Zeb-Smart Cam 100. The camera is designed to capture video footage and images for use in a surveillance system, with the added feature of home automation capabilities. In conclusion, the increasing use of camera to capture video footage in a surveillance system is driving the growth of hardware segment.
The software component is anticipated to register the fastest Compound Annual Growth Rate (CAGR) in the wireless video surveillance market. The use of Artificial Intelligence (AI) and analytics software has revolutionized the video surveillance industry. AI-based software is projected to analyze video footage in real-time, detect anomalies, and alert security personnel in emergencies that increases the demand for video analytics software thereby, promoting the growth of wireless video surveillance market. For instance, in February 2023, Eagle Eye Networks integrated its cloud-based video software with Advancis, a provider of Physical Security Information Management (PSIM) software. The integration of PSIM+ software with Eagle Eyes cloud video surveillance platform provides real-time video feeds from the cloud video surveillance platform hence, enabling security personnel to quickly respond to potential threats.
By Resolution
Based on the resolution, the market is trifurcated into the full high definition (FHD) & ultra-high definition (UHD), high definition (HD), and non-high definition. High-definition (HD) resolution dominates the wireless video surveillance market as HD resolution provides a much clearer and more detailed picture compared to lower resolutions. The high resolution increases the clarity that is essential in identifying people, objects, or other important details in the video footage. Additionally, HD cameras have a wider field of view, to cover larger areas, thus reducing the number of cameras required and contributing in expanding the growth of the high-definition segment. For instance, in September 2020, Amazon unveiled new wireless security cameras that feature HD video capabilities. The cameras are designed to offer high-quality video footage that is clear and accurate, making easier for users to monitor the homes and businesses. Therefore, the use of HD resolution to provide a clear, precise, and accurate picture is driving the growth of wireless video surveillance market.
Full high definition (FHD) and ultra-high definition (UHD) resolutions are expected to witness the fastest Compound Annual Growth Rate (CAGR) in the wireless video surveillance market. The rise in security concerns and the need for better surveillance, increase the demand for high-resolution video footage, to provide better clarity for security applications. Additionally, the availability of high-speed internet and the development of advanced video compression technologies allow for the transmission of FHD and UHD video wirelessly without any loss of quality. Moreover, FHD and UHD resolutions provide more detailed video footage, for more accurate and reliable video analytics to identify potential security threats effectively. Overall, the increasing demand for high-resolution video footage, combined with technological advancements and improved analytics capabilities, is expected to drive the growth of FHD and UHD resolutions in the wireless video surveillance market.
By System
Based on the system, the market is trifurcated into analog video surveillance, IP video surveillance, and hybrid video surveillance. IP video surveillance dominates the market and is expected to witness the fastest CAGR during the forecast period. IP cameras offer higher resolution and image quality compared to analog cameras, allowing for more detailed and clearer video footage. Additionally, IP cameras incorporate a range of advanced features and capabilities, such as motion detection, facial recognition, and object tracking as compared to analog cameras. Moreover, IP cameras are accessed remotely over the internet, allowing users to view live or recorded video footage remotely with an internet connection. Therefore, superior image quality, advanced features, remote accessibility, and affordability is driving the adoption of IP video surveillance and fueling the growth of the wireless video surveillance market. For instance, in June 2022, March Networks announced the addition of the ME8 Series IP Cameras to the portfolio of surveillance products. The cameras are designed to provide accurate and rapid detection of security incidents, due to the built-in video intelligence technology to identify and track people and vehicles on a property.
By Location
Based on location, the market is bifurcated into indoor and outdoor. Outdoor locations dominate the wireless video surveillance market as outdoor locations are more prone to security threats that increase the demand for video surveillance in outdoor settings. Moreover, wireless cameras incorporate a range of advanced features and capabilities, such as motion detection, facial recognition, and license plate recognition to enhance security and provide greater visibility into outdoor areas.
Additionally, wireless cameras are designed to be weather-resistant and durable, with features such as waterproofing and vandal-proofing that are suitable for outdoor environments hence, contributing to the growth of outdoor location of wireless video surveillance market. For instance, in March 2023, Dahua Technology launched a 4G solar power camera that is designed for video surveillance in outdoor application scenarios. The camera is highly durable and weather-resistant, with rugged housing to withstand extreme temperatures, rain, and wind. Additionally, the camera features advanced video analytics capabilities, including motion detection and object recognition, which are used to trigger alerts and notifications when security incidents occur.
The indoor location is expected to witness the fastest CAGR owing to the rising adoption of wireless video surveillance in homes, schools, and offices. Video surveillance is used to monitor and protect homes and families from any criminal activity, such as theft, vandalism, and violent incidents. Additionally, video surveillance is widely employed in schools to identify and respond to safety hazards, such as fires, floods, and medical emergencies. Moreover, offices also use video surveillance to monitor employee activity and improve security and therefore, promoting the growth of wireless video surveillance in indoor locations. For instance, in September 2022, Airtel launched Xsafe, a home video surveillance service enables customers to monitor the homes remotely from their smartphones or other connected devices. The service is currently available in 40 cities across India and captures high-quality video footage which is accessed by the customer through the Xstream app.
By End-User
The end-user segment is classified into residential, commercial, and industrial. The commercial sector dominates the market and comprises banks & financial institutions, hotels & restaurants, healthcare facilities, educational institutions, city surveillance, and others. Wireless video surveillance is used to monitor banks and ATMs, for detecting any suspicious behavior or transactions. Additionally, video surveillance is also used to identify and track potential fraudsters and helps to prevent financial crimes hence, fueling the growth of the video surveillance market. For instance, in July 2022, the Bank of Baroda launched Hackathon in collaboration with Microsoft. Microsofts expertise in data management and analysis helps the Bank of Baroda to develop more advanced and sophisticated video surveillance solutions to detect and prevent security breaches, ensuring the safety of customers and assets. Therefore, the increasing application of video surveillance in commercial sector to identify and track potential threat is driving the growth of wireless video surveillance market.
The residential sector is expected to witness the fastest CAGR in the wireless video surveillance market as video surveillance enhances the security and safety of homes and families. Video surveillance cameras are used to monitor the entry points of a home, such as doors and windows, and to detect potential intruders. Additionally, video surveillance cameras are projected to be accessed remotely through a mobile app or web browser, allowing homeowners to monitor the homes from anywhere at any time. Moreover, video surveillance cameras have gained applications to monitor any signs of a fire, such as smoke or flames, and alert homeowners to potential dangers. Therefore, video surveillance serves as a valuable tool for enhancing the security and safety of homes and families in the residential sector and is expected to accelerate the market in the coming years.
By Region:
North America dominates the market as the region has a strong focus on security and public safety that raises the demand for video surveillance solutions to monitor and detect potential security threats. Additionally, the presence of key players such as IBM Corporation, Honeywell International Inc., Cisco Systems, and Motorola Solutions (Avigilon) constantly apply innovative technologies, driving the growth of the market in North America. Key players in the market are engaged in partnership and collaboration to strengthen the business and increase the customer base. For instance, in February 2020, Motorola Solutions introduced the H5M Camera to its video security product line to provide AI-powered Unusual Motion Detection (UMD) for outdoor security. The H5M camera has 2-megapixel and 5-megapixel capabilities for tamper detection and line-crossing detection to capture clear and detailed images in both bright and low-light conditions. Therefore, the growingadoption of wireless video surveillance for detecting potential security threats and the presence of strong key players are the primary factors responsible for the growth of the market in North America.
Asia-Pacific is projected to witness the fastest compound annual growth rate (CAGR) in the wireless video surveillance market owing to the rising number of cyber threats, terrorism, and crime in Asia Pacific countries including India and Bangladesh. The rising crime rates create a large market for wireless video surveillance solutions to monitor and detect potential security threats. Additionally, the region receives monetary funding from the government sector for national security including the installation of security cameras for border control and immigration is also bolstering the growth of the wireless video surveillance market.
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| Corporate user | : $7460 |
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| Multi user | : $5460 |
| Corporate user | : $7460 |
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