3D Surveillance Camera Market Worth $7.92 Billion, Globally, by 2030 - Exclusive Report by The Insight Partners

The 3D surveillance camera market is projected to reach US$ 7.92 billion by 2030 from US$ 1.75 billion in 2022 to register a CAGR of 20.7% during 2022-2030.

/EIN News/ -- US & Canada, Sept. 02, 2024 (GLOBE NEWSWIRE) -- The global rise in defense and public safety expenditures is driving the 3D Surveillance Camera Market Growth, Analysis, Share, Size by 2030. Moreover, the market is expanding due to the increasing adoption of these cameras in airports for face recognition and item tracking. The growing need for industrial robots in manufacturing and warehousing facilities, which recognize objects and prevent collisions, further generates profitable prospects for the progression of the 3D surveillance camera market. Additionally, the market for 3D surveillance cameras is anticipated to rise as a result of ongoing technical developments, such as the incorporation of Al and ML in 3D cameras to speed up production and prevent mishaps.

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Global 3D Surveillance Camera Market

Global 3D Surveillance Camera Market, US$ Billion

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A 3D camera is a type of imaging technology that allows images to be perceived in three dimensions. Surveillance cameras are used not just to monitor places that are public and private but also to identify individuals. It permits governments to safeguard public areas with the law of the right to privacy. It is an easy, fast, and effective approach to increase security and improve quality while cutting project expenses. Hospitals, banks, manufacturing plants, companies, colleges, and campuses are among the various locations where 3D security cameras are extensively used.

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Technology Landscape

Technology Landscape

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Key Factors Impacting the Market:

Market Dynamics

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Increasing Developments in Smart Cities: The growing population in smart cities due to the high number of job opportunities is resulting in an increased demand for city services—causing traffic jams, preventing crimes, using more energy, and reducing trash. This is leading to the incorporation of essential monitoring systems in smart cities. An essential part of every smart city is a video surveillance system (VSS), which can visualize and monitor different situations, including environmental monitoring, traffic control, public safety, and crime prevention. Growing demand for high-tech cameras in smart cities is increasing the investments for releasing new 3D surveillance technologies. For instance, in January 2022, Quanergy Systems, Inc., a leading provider of OPA-based solid-state LiDAR sensors and smart 3D solutions for automotive and IoT, demonstrated its advanced 3D IoT LiDAR solutions and smart city technologies at CES 2022 in Las Vegas, Nevada. Data collection and analysis play a critical role in smart city optimization.
Increasing Deployment of Advanced Surveillance Systems at Airport: Commercial and municipal commuter airports present a number of operational and security challenges. Maintaining business continuity and profitability while ensuring the safety and security of staff, guests, facilities, and assets requires the ability to effectively monitor daily operations and spot potential threats and liabilities. The challenges grow exponentially with the size and capacity of commuter airports. The practical deployment of 3D LiDAR (i.e., light detection and ranging) technology is revolutionary for airport security, safety, and business operations applications, considering the amount of data produced by these systems. Beyond the limitations of conventional 2D video imaging and analytics, 3D LiDAR systems enable real-time proactive solutions with exceptional accuracy, performance, and cost-efficiency. This means that traditional video security systems that rely exclusively on forensic techniques are no longer viable. 3D LiDAR sensors provide 360° coverage with a range of 15,000 square meters per sensor, making them ideal for big airport facilities. This reduces the typical requirements for hardware, software, cabling, networking, and installation. For instance, in March 2024, Outsight, the leading innovator in 3D lidar-based spatial AI software solutions, announced its membership in GATE—the airport technology network, an organization dedicated to promoting innovation and improvement in airport infrastructure. This technology works with other gate members to assess and enhance airport operations using Spatial Intelligence. The partnership's goal is to incorporate Outsight's cutting-edge Spatial AI technology into airport ecosystems, improving operational efficiency, elevating passenger experience, and increasing safety.
Integration of Artificial Intelligence and Machine Learning Technology: Numerous governmental and business organizations have made significant investments in conventional security cameras to capture footage that is subsequently examined by human operators. The integration of artificial intelligence (AI) provides enhanced security by enabling visual identification of various aspects in real-time. Moreover, it allows threat identification, monitoring, and response capabilities. According to the AIGS (i.e, Artificial Intelligence Global Surveillance) ranking, almost 75% of the 176 countries globally actively employ Al-based surveillance cameras. Approximately 60 countries have access to Al-based technology due to the presence of major companies in the Al-based surveillance industry in the US and China. Leading market players are developing AI and ML-integrated 3D surveillance systems to cater to the rising demand among end users. For instance, in June 2020, Quanergy Systems, Inc., a provider of LiDAR sensors and smart perception solutions, announced the first commercial integration of 3D AI-powered LiDAR solutions with Genetec's ("Genetec Inc.") Security Center unified security platform. The integrated solution will enable advanced people movement and occupancy management in smart spaces, as well as improved threat identification and monitoring in high-security settings.

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Regional Overview:

The geographic scope of the 3D surveillance camera market entails five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America. In 2023, North America led the market, followed by Europe and Asia Pacific.

Global 3D Surveillance Camera Market, Regional Share (%)

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North America led the global market in terms of regional market share with a sizable portion of the market. North America is further sub-segmented into the US, Canada, and Mexico. A primary driver of the market in the region is the existence of large corporations such as 3dEYE Inc., Teledyne FLIR LLC, and Honeywell. Additionally, the region has the highest concentration of CCTVs globally, indicating a significant investment in surveillance technology. For example, DataProt's 2024 statistics show that North America, with a market share of up to 30%, uses the most CCTVs worldwide. The Ontario government declared in 2022 to spend an additional US$ 1.8 million on technology and more cameras in an effort to "improve police efforts to prevent crime, particularly gun and gang violence." The money will be given via the CCTV (closed circuit television) grant program in Ontario. According to the government, the money will be used to upgrade current technologies, install new or more CCTV surveillance cameras, and replace outmoded equipment systems.

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The growing demand for 3D surveillance cameras from the military industry is expected to propel the regional market growth during the projected period. Moreover, investments in Al and machine vision technologies are being made in the region to create cutting-edge surveillance systems for the public safety and defense industries. In 2019, according to the National Institute of Standards and Technology, 30 million security cameras continuously gather data in the US, enhancing the public safety operations.

Recent Developments by Region

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Competitive Landscape:

The 3D surveillance camera market is highly fragmented owing to the presence of several local and international players. The manufacturers either offer their products directly or through different agencies, suppliers, distributors, and dealers. Also, these products are offered through online channels. A few key players operating in the 3D surveillance camera market are Hexagon AB, 3dEYE Inc., Honeywell, Robert Bosch GmbH, Panasonic Holdings Corporation, LG Electronics, CBC Group, Teledyne FLIR LLC, Hangzhou Hikvision Digital Technology Co., Ltd., and GeoVision Inc.

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Major Players in 3D Surveillance Camera Market:

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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