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John Doe

A technician with extensive experience in the security industry.

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2024 H1 China Surveillance Camera Market Overview

The first half of 2024 has seen the China surveillance camera market shine with a remarkable 9.2% increase in sales volume, reaching 27.91 million units, and a 1.1% increase in sales revenue, amounting to 5.6 billion RMB. This growth is primarily driven by the rising consumer demand for security monitoring, and smart surveillance solutions.

surveillance camera market

Security Products Trends

  • Diversified Form Factors: The market has shifted from single fixed forms to rotatable forms, with the sales share of gun-ball coordinated camera system surpassing dome cameras for the first time, reaching 19.5%.
  • High Pixel Dominance: The market share of 5MP camera and 8MP video camera is on the rise, indicating a consumer pursuit of higher definition imagery.

Application Scenarios

  • Growth in Indoor and Outdoor Surveillance: With the increased willingness of consumers to travel, the demand for both indoor and outdoor surveillance has grown in tandem, with the outdoor security camera market share increasing to 43.9%.
  • Rising Demand for Specific Group Care: Cameras with crying sound detection saw a 22% increase in sales share, and pet recognition cameras experienced a year-over-year growth of over 30%.

Global Market Trends

  • Market Size Expansion: The global security market is projected to exceed $330 billion by 2026, with the smart security market reaching $45 billion, at a CAGR of 30.26%.
  • Regional Market Characteristics: North America is a key market for global network surveillance cameras, with a 39.15% revenue share in 2022, driven by high demand for outdoor surveillance cameras in US households.
  • Emerging Markets: With the proliferation of the internet and increased consumer awareness of safety, consumer-grade security products are set to experience rapid growth in emerging markets such as Southeast Asia, Latin America, and South Asia.

Corporate Competition

  • China Companies Lead: China companies like Hikvision and Dahua technology are leading the global security market, with sales revenues far exceeding those of other companies.
  • Emerging Enterprises: As the market expands, more emerging companies like Reolink are entering the overseas market through cross-border e-commerce platforms, further fueling market competition and growth.

Conclusion

The security industry is embracing new opportunities for development. With technological advancements and rising consumer demands, surveillance products are becoming more intelligent and diverse, promising a broad market outlook.

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