Wireless Video Surveillance Market- Global Industry Analysis and Forecast (2023-2029) by Component, System, End-User and Region

Wireless Video Surveillance Market size was valued at US$ 47.19 Bn. in 2022 and the total revenue is expected to grow at 10% through 2023 to 2029, reaching nearly US$ 91.95 Bn.
Wireless Video Surveillance Market Overview:
Wireless Video Surveillance Market is expected to grow substantially during the forecast period. The market is segmented on the basis of component, system, end-user and region. On the basis of component, the wireless video surveillance market is further sub-segmented into Hardware, Software and Service. On the basis of system, the wireless video surveillance market is segmented into Analog Video Surveillance and IP Video Surveillance. On the basis of end-user, the market is segmented into commercial, residential, public and industrial segments. Geographically the wireless video surveillance market is segmented into North America, Europe, Asia-Pacific and other regions that comprise rest of the world.To know about the Research Methodology:- Request Free Sample Report
Wireless Video Surveillance Market Dynamics:
Wireless Video Surveillance Market size was valued at US$ 47.19 Bn. in 2022 and the total revenue is expected to grow at 10% through 2023 to 2029, reaching nearly US$ 91.95 Bn. Wireless video surveillance systems are a type of video monitoring system that can spot and observe activities of humans and group of individuals in a vicinity. This capability of recording and monitoring activities is a prime driver of the wireless video surveillance market. Additionally, there is a rising need for security and surveillance systems in developing economies. This is largely due to the increase in disposable income of the individuals in the constituent countries. Rising income levels and challenges in public administration leads to income and economic disparity that gives rise to crimes in any region. Video surveillance systems are utilized to assist the state and national intelligence machinery to keep a tab on unlawful activities and hence draw lot of potential customers from the public administration systems.

One of the key markets driving factor for the wireless video surveillance market is the evolution of cities into smart cities. Public safety departments have created a surge for demand of real-time surveillance video systems in order to maintain law and order in and around cities. Additionally due to safety and security reasons commercial enterprises have also started installing CCTV (Close Circuit Television) camera on their premises. One advantage that is a major driving factor of the wireless video surveillance market is the ability of these systems to be installed at places where wired cameras can not be installed which provides wireless video surveillance systems the flexibility to be installed anywhere within the defined limits. Wireless system utilizes high speed internet to send and receive data in order to function and have the capability to save the recordings on cloud. This ability makes wireless video surveillance market immune to physical damages at recording sites as the live recording would be stored in real time on cloud. With integration of IoT and artificial intelligence the global wireless video surveillance market is set to experience significant growth during the forecast period.

In terms of restraints on the global wireless video surveillance market, one of the key limitations is the requirement of a robust high speed internet infrastructure that can facilitate transfer of data but such networks are not available everywhere especially in developing economies where most of the growth of wireless video surveillance market is projected. Moreover, while video surveillance systems aid in theft prevention and general security, they are frequently considered as a breach of privacy. People want their personal information to be used solely for specific and legitimate objectives, and there have been concerns about how video recordings might be exploited or misused, particularly in the field of facial recognition technology. More countries and regions are imposing stronger privacy rules that regulate the use of video surveillance technologies, causing firms to take more accountability for the data they collect. In the case of remote or cloud-based video storage, recordings can be accessed or misused by unauthorized people, leaked, or stolen, posing a greater risk.
Wireless Video Surveillance Market Segment Analysis:
The wireless video surveillance market is segmented on the basis of component, system and end-user.

On the basis of component, the wireless video surveillance market is further sub-segmented into Hardware, Software and Service. On the basis of system, the wireless video surveillance market is segmented into Analog Video Surveillance and IP Video Surveillance. On the basis of end-user, the market is segmented into commercial, residential, public and industrial segments.

On the basis of component, the hardware segment is projected to dominate the wireless video surveillance market, owing to the fact that hardware components cost almost 60% of the total cost of wireless video surveillance systems and hence with the growth of the overall market, hardware component type is projected to hold major share of xx% by 2029.On the basis of system, the wireless video surveillance market is further segmented into Analog video Surveillance and IP video surveillance. The analog video surveillance system is very cost effective and signal from one camera can be caught by any number of receivers however IP video surveillance systems are projected to hold majority of market share of xx% by 2029, due to stronger capabilities than analogue cameras since they can do digital processing such as compression and motion detection within the camera, as well as contain other hardware components for encoding/decoding or cybersecurity. In comparison to DVRs, NVRs used in IP systems can manage multiple video streams from a large number of connected cameras. The market for IP video surveillance systems is also being driven by the rise of video analytics. Furthermore, when compared to IP systems, analogue systems have historically had a lower initial price point. Wireless networks have helped to lower the cost of deployment in IP-based systems by lowering the cost of cabling.

On the basis of end-user, the wireless video surveillance market is segmented into commercial, residential, public and industrial segments. Commercial segment is projected to dominate the wireless video surveillance market due to increase in incidents of security breaches such as inventory loss, robbery, illegal access, and other criminal activities, the business sector's rise has resulted in an increase in demand for security solutions. In recent years, the demand for surveillance systems has increased as small enterprises, as well as retail establishments and malls, have grown fast.
Wireless Video Surveillance Market Regional Insights:
Asia-Pacific regions is projected to dominate the wireless video surveillance market during the forecast period as a result of increased population density in major cities and investments in smart city projects The market growth in Asia-Pacific regions is driven by an increase in the number of retail chains, small businesses, residential apartments, and hospitality businesses, as well as government initiatives in various countries to install video surveillance cameras in public places such as cities, schools, colleges, religious places, and airports. The growing population of developing countries like as China and India, combined with falling video surveillance equipment costs, is driving considerable growth in smart video surveillance solutions. Europe and North America regions are also projected to experience significant growth in the wireless video surveillance market due rise in awareness of cloud-based security systems that can enable the users to monitor their residences remotely from work place and ensure safety.

The objective of the report is to present a comprehensive analysis of the Wireless Video Surveillance market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Wireless Video Surveillance market dynamics, structure by analyzing the market segments and project the Wireless Video Surveillance market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Wireless Video Surveillance market make the report investor’s guide.
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Wireless Video Surveillance Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 47.19 Bn.


Forecast Period 2023 to 2029 CAGR:
10%
Market Size in 2029:
US $ 91.95  Bn.


 Segments Covered:
by Component
• Hardware
• Software
• Service


by System
• Analog Video Surveillance
• IP Video Surveillance


by End-User
• Commercial
• Residential
• Public
• Industrial



Wireless Video Surveillance Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Wireless Video Surveillance Market Key Players
• Hikvision (China)
• Morphean (Switzerland)
• Dahua Technology (China)
• Axis Communications (Sweden)
• Bosch Security and Safety Systems (Germany)
• Hanwha Techwin (South Korea)
• Avigilon (Canada)
• Teledyne FLIR (US)
• Honeywell International (US)
• Panasonic (Japan)
• CP PLUS (India)
• Genetec (Canada)
• NEC (Japan)
• NICE Systems (Israel)
• Qognify (US)
Frequently Asked Questions:
1. What is the forecast period considered for the Wireless Video Surveillance market report?
Ans. The forecast period for the Wireless Video Surveillance market is 2023-2029.

2. Which key factors are hindering the growth of the Wireless Video Surveillance market?
Ans. The key factor hindering the growth of wireless video surveillance market is the unavailability of strong wireless network infrastructure in developing economies.

3. What is the compound annual growth rate (CAGR) of the Wireless Video Surveillance market for the forecast period?
Ans. The compound annual growth rate (CAGR) of the Wireless Video Surveillance market for the forecast period is 10%

4. What are the key factors driving the growth of the Wireless Video Surveillance market?
Ans. The key factors driving the growth of wireless video surveillance market is the gradual cost reduction of surveillance systems along with urgent need of video surveillance for security and monitoring purpose on a global scale.

5. Which are the worldwide major key players covered for the Wireless Video Surveillance market report?
Ans. Some of the worldwide key players in the wireless video surveillance market are Hikvision (China), Morphean (Switzerland), Dahua Technology (China), Panasonic (Japan), Avigilon (Canada), Axis Communications (Sweden), Teledyne FLIR (US) and Honeywell International (US).