Security Cameras Market to surpass USD 50 billion by 2032, Says Global Market Insights inc.

Oct 17, 2024

Security Cameras Industry size is expected to register 18% CAGR between 2024 and 2032 propelled by rising concerns about public safety and security.

Selbyville, Delaware, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Security Cameras Market was valued at USD 11.5 Billion in 2023 and is projected to be worth USD 50 billion by the end of 2032, as per a recent study by Global Market Insights Inc.

This surge in demand is primarily driven by the increasing concerns over crime, terrorism, and vandalism, prompting governments, businesses, and individuals to invest in advanced security systems. Technological advancements have significantly transformed the capabilities of security cameras, introducing features like high-definition (HD) and ultra-high-definition (UHD) resolution, night vision, thermal imaging, and AI-powered analytics. These innovations enhance the effectiveness and accuracy of surveillance systems, making them indispensable tools for both detecting and preventing incidents. AI integration further boosts functionality by enabling advanced features such as facial recognition, behavior analysis, and automated alerts, contributing to the growing adoption of smart security cameras.

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In terms of connectivity, the security cameras market size from wireless segment is expected to grow at an impressive CAGR of 20% during the forecast period. Wireless cameras are gaining popularity due to their easy installation and flexibility, as they operate through Wi-Fi or cellular networks. This eliminates the need for extensive cabling and allows for more versatile placement options, making them particularly attractive for residential users and small businesses seeking hassle-free, cost-effective security solutions.

The security cameras market is also divided based on distribution channels into online and offline sales. Online sales are projected to lead the market, accounting for the largest share, with revenues anticipated to exceed USD 26 billion by 2032. The rise of e-commerce has made purchasing security cameras more convenient, with consumers increasingly turning to online platforms such as manufacturer websites, online retailers, and third-party marketplaces. This trend is bolstered by the ease of comparison, quick delivery, and the availability of a wide range of products.

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Regionally, North America dominated the security cameras market in 2023, holding over 35% of the market share. The region’s mature market is driven by high adoption rates of cutting-edge surveillance technologies and a strong focus on public safety. The United States leads this growth, with widespread deployment of security systems across government, commercial, and residential sectors.

Security Cameras Market Players

Companies including Cisco Systems, Inc., Dahua Technology Co., Ltd., Honeywell International Inc., Lorex Technology Inc. (FLIR Systems), Nokia Corporation, Panasonic Holdings Corporation are some firms working in security cameras industry.

The security cameras market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD million & Units) from 2021 to 2032, for the following segments:

Market, By Product Type, 2021-2032

Dome cameras

Indoor dome cameras

Outdoor dome cameras

Bullet Cameras

Indoor bullet cameras

Outdoor bullet cameras

PTZ (Pan-Tilt-Zoom) cameras

Box cameras

Turret cameras

Specialty cameras

Thermal cameras

Explosion-proof cameras

Night vision cameras

Market, By Technology, 2021-2032

Analog cameras

HD Analog cameras (AHD, HD-TVI, HD-CVI)

SD analog cameras

IP Cameras

Wired IP cameras

Wireless IP cameras

PoE (power over ethernet) cameras

Hybrid cameras

AI-Enabled cameras

Facial recognition cameras

Object detection cameras

License plate recognition (LPR) cameras

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.