Global Video Surveillance Market by Offering to Reach USD 88 Billion by 2031
According to a new report by MarketsandMarkets, the global video surveillance market by offering — which includes cameras, monitors, storage devices, VMS/VAS software, and system types such as IP, DVR, NVR, and cloud-based solutions — continues to grow steadily and is projected to reach USD 88.06 billion by 2031. The market, valued at USD 53.57 billion in 2024, is expected to expand at a compound annual growth rate (CAGR) of 7.8% during the 2025–2031 forecast period.
The report “Video Surveillance Market – Global Forecast to 2031” shows that hardware components — including cameras, monitors, storage devices, and accessories — represented the dominant segment, accounting for 61.8% of the market in 2024. The fastest-growing segment is IP video surveillance systems, projected to grow at a CAGR of 9.3%, driven by the global transition from analog to network-based solutions.
Geographically, the Asia-Pacific region is expected to lead market expansion with the highest anticipated CAGR of 9.1%. Across industry verticals, the commercial sector remains the strongest area of demand, with additional growth expected in infrastructure, industrial, defense, and smart city applications.
Key growth drivers include expanding adoption of edge AI technologies, which enable video processing directly at the source and enhance performance, privacy, and system efficiency. Rapid global development of smart city initiatives also fuels demand for smarter and more efficient surveillance solutions.
Despite strong momentum, the market faces challenges such as cybersecurity risks, privacy concerns in cloud environments, high operational costs, and technical limitations related to video compression. Conversely, substantial opportunities emerge through deeper AI/ML integration into surveillance systems and the expanding smart home market.
Leading players in the global landscape include Hikvision, Dahua Technology, Hanwha Vision, Honeywell International, and Motorola Solutions, all of which maintain extensive portfolios and strong global distribution capabilities.
