Analysis: Mobile Video Surveillance Market Expected to Grow to $3.9 Billion by 2029

The Mobile Video Surveillance Market is expected to reach USD 3.9 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.9% from its estimated USD 2.7 billion in 2024.

Pune, 16/04/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

The Mobile Video Surveillance Market is anticipated to expand significantly, with a noteworthy compound annual growth rate (CAGR) of 7.9% anticipated between 2024 and 2029. According to this growth trajectory, the market valuation could rise significantly from USD 2.7 billion in 2024 to USD 3.9 billion in 2029. Advances in surveillance technology, growing concerns about security and safety in a variety of industries, and the growing use of mobile surveillance solutions by law enforcement, transportation authorities, and businesses are some of the factors propelling this rise. As businesses place a higher priority on real-time monitoring, remote access to surveillance footage, and improved security measures, demand for mobile video surveillance is predicted to rise even more, supporting the market's strong growth in the next years.

The Mobile Video Surveillance Market is divided into three segments: services, software, and hardware. It serves a range of applications, including those for buses, trains, police cars, transport vehicles, and drones. Transportation, law enforcement, and the industrial sector are among the areas that benefit from these applications. The market's expansion is ascribed to the growing demand for sophisticated surveillance systems to guarantee security and safety in a variety of industries and transportation contexts. The industry is expected to grow further as a result of the development of IoT technology and the incorporation of AI and analytics into video surveillance systems, as security concerns change and global regulatory standards tighten. In the near future, there will be a greater need for mobile video surveillance solutions due to these improvements, which make it possible to detect threats in real time, improve monitoring capabilities, and respond to incidents more effectively.

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The real-time monitoring capabilities and enhanced security features of mobile video surveillance systems have made them indispensable in a variety of industries, including transportation, law enforcement, and industrial sectors. Thanks to developments in wireless signal processing, contemporary systems may effortlessly transition between cellular and Wi-Fi networks, guaranteeing continuous data transfer and communication. Furthermore, by delivering actionable insights and enabling well-informed decision-making, the integration of on-board analytics is revolutionising monitoring capabilities. The industry for mobile video surveillance is predicted to experience greater growth and innovation due to the expected spike in demand for on-board analytics, highlighting the critical role that this technology plays in guaranteeing safety and security in a variety of settings.

The mobile video surveillance market is steadily expanding, and businesses are vying with one another to improve their offerings and establish stronger market positions. Prominent companies utilise diverse approaches to accomplish these goals, primarily concentrating on the launch of novel items and the enhancement of current ones. These businesses want to increase their market presence, obtain a competitive edge, and respond to changing consumer needs by developing and broadening their product offerings. Within the competitive and ever-changing mobile video surveillance sector, these strategic activities are essential for propelling market progress and maintaining momentum.

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Report MetricDetailsMarket size value in 2022 USD 2.4 BillionMarket size value in 2027 USD 3.6 BillionGrowth rate CAGR of 8.7%Market size available for years2018–2027Base year considered2021Forecast period2022-2027Forecast unitsValue (USD Billion/Million), Volume (Million Units)Segments coveredOffering, Application, Vertical, and GeographyGeographies coveredNorth America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaCompanies covered

• Hikvision (China),
• Dahua Technology (China),
• Axis Communications (Sweden),
• Bosch Security and Safety Systems (Germany),
• Hanwha Techwin (South Korea),
• Avigilon (Canada),
• Teledyne FLIR (US),
• Briefcam (US) and among others.

With locations in Asia Pacific, the Americas, Europe, and Korea, Hanwha Techwin is a global player in the industry. Making use of its wide network, the business places its subsidiaries strategically in key international marketplaces. Among the notable subsidiaries are Samsung Techwin Do Brasil Equipamentos de Seguranca Ltda. in Brazil, Shanghai Samsung Techwin Co., Ltd. in China, and Samsung Techwin (Europe) Ltda. in the United Kingdom. Samsung Opto-Electronics America, Inc., a US-based company, guarantees extensive coverage in a variety of markets for Hanwha Techwin. Thanks to its broad reach, the organisation can serve a diverse clientele across the globe, meeting specific needs in various locations. Hanwha Techwin's position as a major participant in the global security solutions market is cemented by its widespread global presence.

Prominent among industry leaders, Axis Communications is well-known for its sophisticated video surveillance and access control solutions. Axis Communications has remained independent even after being purchased by the Japanese multinational Canon in February 2015; Canon still holds a controlling stake. The company continues to introduce cutting-edge network products in order to maintain its leadership in the industry, demonstrating its unwavering dedication to innovation. With its primary business areas being Video and Others, Axis Communications can concentrate on providing outstanding solutions that are customised to meet the unique needs of a wide range of sectors. Axis Communications's position as a major participant in the access control and video surveillance market is highlighted by this strategic direction.

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Axis Communications offers a wide selection of network cameras, video encoders, NVRs, VMSs, and system components to meet the various needs of the mobile video surveillance market. Numerous industries, including transportation, manufacturing, and law enforcement, use these products extensively. Axis Communications offers ruggedized onboard cameras specifically made to fulfil the demanding EN50155 standards for use in railway applications. These cameras are ideal for surveillance in metros, trains, and trams and guarantee longevity in dynamic conditions. These resilient cameras can withstand shocks and vibrations and are also used in trucks, buses, emergency vehicles, and industrial environments. The company also sells open-platform body-worn cameras with a robust and lightweight design that are ideal for law enforcement applications. These cameras are easy to use in the field.

North America is expected to account for a dominant share of the market

It is anticipated that there would be a substantial increase in the need for advanced surveillance cameras in all of North America (the US, Canada, and Mexico), especially for military and defence applications. The extensive deployment of surveillance technology is expected to create significant growth, especially in the US market, as a result of this spike in demand. There has been a noticeable rise in the installation of mobile video surveillance cameras at international and regional borders, as a result of an increased focus on strengthening security measures in reaction to recent terrorist and criminal actions. In the upcoming years, this tendency is expected to significantly accelerate the expansion of the mobile video surveillance market throughout the region.

Recent Developments

• In June 2022, Axis Communications (Sweden) launched the next generation of AXIS M11 Box Cameras offering superb image quality even in low light conditions. The indoor models, AXIS M1135 Mk II and AXIS M1137 Mk II, offered 2 MP and 5 MP resolution, respectively. The two outdoor-ready models, AXIS M1135-E Mk II and AXIS M1137-E Mk II, came enclosed in an IP66-, IK10- and NEMA 4X-rated casing to protect against water, corrosion, dust, and impacts.
• In February 2022, Hikvision (China) launched its new TandemVu PTZ camera range, integrating PTZ and bullet camera capabilities into a single unit. TandemVu PTZ cameras could monitor large areas and zoom in on specific security incidents while focusing simultaneously on both ‘viewpoints.’ These cameras would eliminate the need to deploy separate PTZ and bullet cameras in pairs.
• In February 2022, Bosch Security and Safety Systems (Germany) announced the launch of its new MIC IP fusion 9000i 9-mm cameras providing maximum situational awareness for perimeter detection applications. Its wider thermal field of view minimized prepositions to quickly deliver 360° coverage.

News Covered:

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