Security and Surveillance

The security and surveillance market is witnessing incredible growth as organizations continue to adopt security technologies to protect against the increased threat of cyber-attacks and the desire for full-spectrum protection across IT security and physical security realms. In terms of physical security infrastructure and security services, the momentum is also strong as video surveillance generated USD 53.8 billion in 2023 and continues to gain traction and grow at a 5% CAGR through 2032 based on increasing adoption of edge AI technologies.

AI-enabled video surveillance introduced a new category delivering USD 5.5 billion in 2023 with an estimated 15.5% CAGR through 2032 as organizations are leveraging analytic capabilities for better threat detection. Providers of video surveillance-as-a-service generated revenue of USD 3.5 billion in 2022 and will continue to gain traction and grow at 14.5% CAGR through 2032 bolstered by the push for cloud-based deployment.

The integration of artificial intelligence (AI) and machine learning (ML) is changing the landscape for both IT and physical security segments, enabling organizations to detect threats in real-time and incorporate automated response systems and predictive analytics to mitigate risk. The convergence of connected cybersecurity mesh architectures and enhanced video analytics brings together the building blocks for a more complete security ecosystem. Organizations of all sizes are trending toward the adoption of increasingly integrated platforms that incorporate network security, access management, and intelligent surveillance (video) capabilities to keep up with threats and changing regulatory compliance across verticals.