2024 Security Expo | Innovation Opportunities and Development in Security Market

After years of development, the security industry has formed a relatively complete industrial chain. This industry chain basically includes the following links: upstream includes video, algorithm providers, and chip manufacturers; The midstream includes software and hardware manufacturers, system integrators, and operation service providers; Downstream terminal applications include government, industry, and civilian applications.

In the security industry chain, hardware equipment manufacturing, system integration, and operation services are the core of the industry chain, and channel promotion is the backbone of the industry chain. Intelligence has always been regarded as one of the development prospects in China's security manufacturing industry. It has made great progress in the application of technologies such as video front-end perception, video data structuring and backend big data mining, deep learning, analysis and judgment, predictive analysis and early warning information. Many technological applications have taken the lead in the industry field.

01 Market Status of Security Industry

-Abroad

How big is the overseas security market? Industry insiders estimate that the annual shipment of household cameras overseas is about 100 million, with each camera costing 20-60 US dollars, resulting in a market size of tens of billions of RMB per year.

According to a report by market research firm Brain Insights, the global network camera market is expected to grow from $10.21 billion in 2022 to $39.63 billion in 2032, with a compound annual growth rate of 14.52% for the 2023-2032 forecast period.

Among them, North America will dominate the network camera market. According to the data from Brain Insights, North America has become the world's most important market for webcams, with a revenue share of 39.15% in 2022. The United States is currently dominated by domestic brands and emerging brands going global.

-Domestic

In China, in recent years, when "Internet plus", cloud computing and big data are popular, the security market has also quietly changed. At present, safe cities, smart transportation and traffic control have become three important application markets.

The innovative development of security technology also drives the continuous innovation and improvement of security chip technology from another perspective. In the security market, from digital monitoring to intelligent security and now to AI vision, high-performance and highly reliable chip solutions are indispensable.

02 Analysis of Future Development Trends in Security Industry

With the development of artificial intelligence technology in China, artificial intelligence has gradually been deeply applied in various fields of security, bringing tremendous changes and impacts to the security industry, making security one of the best industries for artificial intelligence applications. Compared to traditional security, today's security has become increasingly intelligent and digital.

In the coming years, with the increasingly clear trend of high-definition and intelligence, security enterprises will inevitably face more fierce competition. With the continuous release of domestic security market demand and the rapid development of related technologies, digital image compression processing, streaming media technology, computer network communication, automatic control technology, intelligent alarm technology, artificial intelligence technology, etc. have been widely applied in the security field.

It is expected that in the future, the construction of new smart cities will accelerate into a new stage of high-quality development with digital empowerment, institutional reshaping, comprehensive transformation, and safe operation. It is expected that the market size will exceed 250 billion by 2026.