Novaira Insights has unveiled its latest report, World Market for Video Surveillance Hardware and Software – 2025 Edition. Authored by analysts Josh Woodhouse and Jon Cropley, this extensive research provides a detailed analysis of the current state and future trends of the video surveillance industry.
The research indicates that the global market for video surveillance hardware and software experienced a slight decline of 0,3% in 2024. This performance fell short of previous forecasts, primarily due to a 7,8% decrease in the Chinese market. Conversely, the rest of the world saw a growth of 4,9%. The global market for video surveillance equipment was estimated to be worth $25,0 billion in 2024.
The Chinese market’s downturn is linked to reduced government spending on video surveillance, which had been redirected towards the COVID-19 response and economic support during lockdowns in 2022. The government funding and focus on the surveillance industry has not returned to pre-COVID levels. Novaira Insights has revised its forecasts for the Chinese market downward compared to previous years, and we are pessimistic about its ability to return to a high-growth market.
Outside of China, revenue growth in 2024 also fell short of earlier forecasts. A key factor was the impact of geopolitical developments and elections in several countries, including India, United States, Mexico, France, and Germany, which led to disruptions in government project spending and budgetary cycles. However, the long-term prospects for the global market, excluding China, remain strong, with growth expected to accelerate throughout the rest of the decade.
The report forecasts a compound annual growth rate (CAGR) of 8,1% for the global market, excluding China, from 2024 to 2029. This growth is driven by robust expansion in emerging markets such as India, Latin America, and the Middle East, along with increased demand for cloud solutions in established markets like North America and Western Europe.
The macro trends identified in the report include the transition to cloud technology and the rise of artificial intelligence (AI) in video surveillance. The US and Canadian markets are leading the shift toward cloud-based solutions, with significant growth in recurring revenues for cloud video management software.
Additionally, AI technologies are enhancing video analytics performance, with a growing number of new camera shipments incorporating deep learning-powered video analytics capabilities in their embedded chipsets. This, combined with the renewed drive towards system-wide intelligent automation, is driving the adoption of AI across surveillance systems.
Novaira Insights’ report offers insights into market dynamics, including detailed forecasts, market share estimates, and an analysis of key trends shaping the industry. The report is an essential resource for stakeholders looking to navigate the complexities of the video surveillance market.
Find the report at www.novairainsights.com/video-surveillance-market-report
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