Asia-Pacific Video Surveillance Systems Industry

Asia-Pacific Video Surveillance Systems Market Analysis

The Asia-Pacific Video Surveillance Systems Market is expected to register a CAGR of 15.4% during the forecast period.

• This region is witnessing the rising adoption of IP surveillance systems by governments of many APAC countries to prevent crimes in those regions. For instance, in August 2021, Singapore announced that it aims to have more than 200,000 police cameras by 2030, which is over double the current number of cameras deployed across the country, as they have proven useful in deterring crimes and locating missing persons.
• AI-based surveillance techniques are gaining traction in the region, with many governments in the Asia Pacific region procuring advanced analytic systems, facial recognition cameras, and sophisticated monitoring capabilities. The use of AI in video surveillance can provide significant benefits in detecting unusual incidents and generating alerts.
• Further, the usage of surveillance technology has become more prevalent in the pandemic era. Many countries in the Asia Pacific region have deployed mass surveillance tools like drones or closed-circuit television (CCTV) cameras for contact tracing, monitoring of quarantined individuals, and managing the overall transmission of COVID-19.
• Due to the COVID-19 pandemic, many end-use verticals deploying video surveillance systems have been affected by this crisis. As such, the market in 2020 experienced a decline 2019. Market players have witnessed supply chain disruptions for video surveillance equipment across both demand and supply sides.
• With advances in technology, most video surveillance devices, like IP security cameras, are connected to the internet and are thus at the risk of being hacked, which acts as a market restraint.

Asia-Pacific Video Surveillance Systems Market Trends

Hardware Segment to Hold a Major Market Share

• The hardware segment holds a significant market share in 2021 and is expected to grow with a significant CAGR during the forecast year. In addition, video cameras offer 4K resolution capabilities. Moreover, 4K IP video cameras provide 27 times the high resolution compared to conventional analog cameras, four times better than a Full HD camera (1,920 1,080) and nine times that of a standard HD camera (1,280 720).
• These cameras with higher resolution primarily provide minor and finer details of images that remain clear when magnifying part of a still image. 4K enabled video cameras to offer a more detailed image that allows for better detail retrieval. Modern cameras also offer variable zoom lenses for a closer field of view. Many cameras are now offered a built-in microphone to stream and record audio during video recording.
• Various companies in the Asia-Pacific are focusing on mergers and acquisitions to hold a prominent position in the market. For instance, in March 2021, ACT Fibernet launched a new home security camera in India, ACT IP Cam, in partnership with TP-Link. The camera offers features like night vision clarity and up to 24 days of recording while supporting up to 128GB microSD cards.
• Cloud storage is another storage option where the video files are sent off to remote servers for storage. This storage method can be used as a backup option for the video files.

China Market to Grow Significantly

• In the Asia-Pacific, China is the largest video surveillance market in the region. The country has built a vast surveillance network that utilizes cameras powered by facial recognition software, including cameras installed on streets, buildings, and lamp posts that can recognize and identify individual faces.
• The world's largest providers of video surveillance products, such as Hikvision and Dahua, is also a significant driver of AI-based surveillance solutions worldwide. These companies supply AI surveillance technology to various countries across the globe.
• For instance, In July 2021, Dahua Technology launched its Cooper-I Series XVR, which offers AI functions, including SMD (Smart Motion Detection) Plus and AI Coding. These advanced features are enabled by default and eliminate extra configuration, making the installation process significantly easier and faster.
• Face recognition technology enables matching a human face from a digital image or a video frame against a database of faces. It is widely used in China's video surveillance systems. The country's facial recognition startups are also attracting huge investments from many investors.
• For instance, in December 2021, Chinese AI startup SenseTime Group launched Hong Kong IPO to raise USD 767 million. The company provides technology-based applications, including facial recognition, video analysis, and autonomous driving.

Asia-Pacific Video Surveillance Systems Industry Overview

The Asia-Pacific video surveillance systems market is moderately competitive and consists of some key players. These companies are focusing on various strategies to improve their market share and enhance their profitability in the market.

• September 2021 - Hanwha Techwin launched a new line of security cameras, including the X-Core AI and X-Plus AI series, featuring advanced AI and deep-learning technologies. The new cameras offer AI-based object detection for false alarm reduction analytics, AI-enhanced image quality, and edge-based business intelligence.
• January 2022 - VIVOTEK announced a partnership with Pathr.ai, a spatial intelligence company that provides real-time insights through anonymous location data in any physical space. The partnership will help deliver spatial intelligence solutions to companies that already leverage VIVOTEK cameras inside their physical spaces.

Asia-Pacific Video Surveillance Systems Market Leaders

Asia-Pacific Video Surveillance Systems Market News

• October 2021 - Hanwha Techwin collaborated with the Internet of Things company Azena and telecommunications giant KT Corp. for AI-powered video solutions. Under the partnership, Hanwha Techwin's CCTV users would be able to add AI-powered video analytics tools to their products.
• September 2021 - Eagle Eye Networks, a global cloud video surveillance company, acquired India-based surveillance artificial intelligence company Uncanny Vision. The acquisition included the company's research and development capabilities and a new regional office in Bangalore, India.