Wireless Video Surveillance Market to Garner $64.1 Bn, Globally, by 2031 at 11.9% CAGR: Allied Market Research

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Major Determinants of the Market Growth

Increase in need for safety in high-risk areas, incorporation of Internet of Things, and rise in transition from analog surveillance to IP cameras have boosted the growth of the global wireless video surveillance market. However, dearth of professional expertise and high investment costs hinder the market growth. On the contrary, surge in inclination toward development of smart cities would open new opportunities in the future.  

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The Hardware Segment Dominated the Market Growth

By component, the hardware segment held the largest share in 2021, accounting for nearly two-thirds of the market, and is estimated to dominate the global wireless video surveillance market throughout the forecast period, as it plays a vital role in effective operations of the wireless video surveillance system. However, the services segment is expected to register the highest CAGR of 13.4% during the forecast period, as it deals with outsourcing of storage and management of data in a system.

The Infrastructure Segment to Manifest the Highest CAGR Through 2031

By application, the infrastructure segment is expected to register the highest CAGR of 14.19% during the forecast period, due to adoption of wireless video surveillance by government to use it in high alert spaces such as prison. However, the commercial segment held the largest share in 2021, contributing to more than one-fifth of the global wireless video surveillance market, due to its remote monitoring feature that allows data access through web portals and mobile applications.

The Business to Business Segment Held The Lion's Share

By customer type, the business to business segment dominated the market in 2021, accounting for around three-fourths of the global wireless video surveillance market, and is expected to continue its dominance from 2022 to 2031, as wireless video surveillance is considered as essential security technology for businesses. However, the business to customer segment is estimated to showcase the highest CAGR of 12.66% during the forecast period, as major players in the market have adopted B2C business model for their operations for their convenience.

North America Held the Largest Share

By region, the global wireless video surveillance market across North America dominated the market in 2021, holding nearly two-fifths of the market, and is expected to dominate in terms of revenue during the forecast period. This is due to rise in adoption of surveillance system utilizing cameras, expanding smart city efforts, and use of facial recognition applications. However, the market across Asia-Pacific is projected to manifest the highest CAGR of 13.11% during the forecast period, due to heavy investments in infrastructure and smart city projects in various countries in the region along with increase in adoption of IP surveillance systems by the governments of many Asia-Pacific countries to prevent crime.

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Key Benefits for Stakeholders

Key Market Segments

Component

Application

Customer Type

By Region

Major Market Players

The report analyzes these key players of the global wireless video surveillance market. These companies have adopted several strategies such as expansion, partnerships, new product launches, collaborations, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.

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U.S. Video Surveillance Market size was valued at $8.29 billion in 2019, and is projected to reach $23.60 billion by 2027, registering a CAGR of 13.9% from 2020 to 2027.

Wireless Security Cameras Systems Market size was valued at $5.91 billion in 2020, and is projected to reach $18.30 billion by 2030, registering a CAGR of 12.4% from 2021 to 2030.

3D Camera Market size was valued at $8.89 billion in 2020, and is projected to reach $142.03 billion by 2030, growing at a CAGR of 31.9% from 2021 to 2030.

Asia-Pacific Professional 3D Camera Market size was valued at $1.00 billion in 2020, and is projected to reach $21.06 billion by 2030, growing at a CAGR of 35.3% from 2021 to 2030.

Wireless Display Market size is expected to reach $9.71 billion by 2030 from $3.64 billion in 2020, growing at a CAGR of 11.00% from 2021 to 2030.

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