A new forecast from IDC estimates the worldwide video surveillance camera market will grow to $44 billion by 2025, up from $23.6 billion in 2019, with a five-year compound annual growth rate (CAGR) of nearly 13%.
This is largely due to the increasing adoption of smart camera systems and analytical software that enables them to be utilized in a variety of roles — beyond simple surveillance.
“Video surveillance camera growth is being driven by the adoption of smart camera systems and the adoption of the video analytics applications that enable them,” said Mike Jude, research director for IDC’s Video Surveillance and Vision Applications practice. “Although the market has seen a short-term decline driven by COVID-19 impacts, the longer-term prospects will be driven by the increasing use of video surveillance in law enforcement and physical security.”
IDC’s Video Surveillance and Vision Applications practice follows the increasingly important applications of machine vision that augment physical security. While most data protection coverage begins and ends with data stored or carried by an organization’s IT infrastructure, IDC’s focus also includes the protection of data before it becomes data; that is, protecting the intellectual property that people carry around with them, by protecting the people.
Physical security of the areas that creative people occupy, including, increasingly, from the exposure to biological threats like COVID- 19, is critical to companies that increasingly depend on the introduction of innovative new services and products to drive revenue generation. Losing an employee with a good idea that hasn’t yet been expressed could be devastating to the future of a company.
The IDC report, Worldwide Video Surveillance Camera Forecast, 2020-2025 (IDC #US46230720), provides a forecast for the worldwide Video Surveillance Camera market during the 2019—2024 period with projections to the year 2025. It measures revenue by geography and market vertical and provides insights into the drivers and inhibitors that have been considered when building the forecast details.