The Wireless Video Surveillance Market Size - $40.37 Billion In 2024

LONDON, GREATER LONDON, UK, June 24, 2024 /EINPresswire.com/ -- The wireless video surveillance market is projected to grow from $22.77 billion in 2023 to $25.48 billion in 2024, at a compound annual growth rate (CAGR) of 11.9%. The market is anticipated to reach $40.37 billion by 2028 at a compound annual growth rate (CAGR) of 12.2%, driven by increasing urbanization demands, the adoption of advanced surveillance, and the rising need for safety in high-risk areas.

IoT Integration Propels Market Growth
The integration of IoT technology is a significant factor contributing to the growth of the wireless video surveillance market. IoT, which refers to a network of interconnected devices, sensors, objects, and systems that communicate and exchange data, enhances the functionality, efficiency, and security of wireless video surveillance systems. This technology enables advanced analytics, improved connectivity, and remote monitoring, thereby driving market growth. For example, the GSM Association anticipates that IoT connections will exceed 23.3 billion by 2025, up from 15.1 billion in 2021.

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Key Players and Market Trends
Major players in the wireless video surveillance market include Samsung Electronics Co. Ltd., Robert Bosch GmbH, Panasonic Corporation, Cisco Systems Inc., and Canon Inc. These companies focus on innovative technologies, such as AI-enabled smart home security cameras, to strengthen their market positions. For instance, in January 2024, Abode Systems launched the world's first wireless home security camera with AI-at-the-edge capabilities, in partnership with Morse Micro and Xailient. This camera uses the Wi-Fi-certified HaLow system-on-chip (SoC) and a PIR motion sensor, enhancing its performance in noisy environments and improving detection accuracy.

Trends: Faster 5G Technology and AI Integration
The forecast period is expected to see several major trends, including faster 5G technology, product innovations, the integration of IoT and artificial intelligence, partnerships and collaborations, and emerging technologies in video surveillance. These trends are set to enhance the capabilities of wireless video surveillance systems, providing more efficient and secure monitoring solutions.

Segments:
• By Component: Hardware, Services
• By Customer Type: Business-to-business, Business-to-customer
• By Application Type: Infrastructure, Residential, Commercial, Military, Other Applications

Geographical Insights: Asia-Pacific Leading the Market
North America was the largest region in the wireless video surveillance market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by increasing urbanization and the adoption of advanced surveillance technologies.

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Wireless Video Surveillance Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Wireless Video Surveillance Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on wireless video surveillance market size, wireless video surveillance market drivers and trends, wireless video surveillance market major players, competitors' revenues, market positioning, and market growth across geographies. The wireless video surveillance market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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