The global intelligent video surveillance market reached US $25.8 billion in 2021: an increase of 13.9% over the same period last year, with China accounting for more than half of the market share.

CTOnews.com, October 3, the latest Omdia report shows that the overall market for intelligent video surveillance equipment including related infrastructure in 2021 is $25.8 billion (about 183.954 billion yuan), an increase of 13.9 percent over the same period last year.

Excluding infrastructure, the global market for intelligent video surveillance equipment is estimated to be $22.1 billion (about 157.573 billion yuan), up 20.4 percent from a year earlier, the report said.

CTOnews.com learned that Omdia analysis said that the rapid recovery of the market is mainly driven by several factors, including a strong recovery of market demand, supply chain disturbances pushing up product prices, and stronger exchange rates in major producing countries.

Regionally, the Chinese market recovered the fastest, rising 16.4 per cent year-on-year to $13.1 billion (about 93.403 billion yuan), close to 51 per cent of the global market. Omdia said that this is due to the Chinese government's effective epidemic prevention policy and a number of economic stimulus programs, leading to the rapid recovery of social and economic activities and the rapid growth of market demand.

According to statistics, the concentration of the global intelligent video surveillance market has further increased in 2021, and the total market share of the top 10 manufacturers in the world has increased to 64.1% from 60.2% in 2020. Chinese manufacturers account for half of the top 10 in the market, including Haikangwei, Dahua, Yushi, Huawei and Tiandi Weiye. The overall share of Chinese manufacturers increased to 50.5% from 47.2% in 2020.

▲ image source: Omdia