South Africa Video Surveillance Market registered a decline of -29.98% in value shipments in 2022 as compared to 2021 and a decrease of -0.65% CAGR in 2022 over a period of 2017. In Video Surveillance Market South Africa is becoming less competitive as HHI index in 2022 was 7918 while in 2017 it was 6168. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
South Africa has reportedly relied more on imports to meet its growing demand in Video Surveillance Market. South Africa is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Video Surveillance Market in 2022 was 15.19 while in 2017 it was 7.58. China, USA, China, Hong Kong SAR, Poland and Japan were among the top players of the market in 2022, where China acquired the largest market share of 88.9% with a shipment value of 17.1 million USD in 2022 China also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Video Surveillance Market. In 2017 China had the largest market share of 78.19% with the shipment value of 22.34 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
Topics Covered in the South Africa Video Surveillance Market
South Africa Video Surveillance Market report thoroughly covers the market by offering, by systems, and by verticals. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
South Africa Video Surveillance Market Synopsis
South Africa Video Surveillance Market is expected to experience significant growth in the coming years. The increasing adoption of video surveillance in industries such as retail, healthcare, and transportation are one of the main drivers of South Africa Video Surveillance Market Growth. However, several challenges continue to hinder its development, such as a lack of skilled technicians and perceptions of privacy violations. However, trends such as the adoption of cloud-based and AI-powered video surveillance systems, as well as opportunities presented by smart city initiatives and international events, provide significant opportunities for businesses operating in this industry.
According to 6Wresearch, the South Africa Video Surveillance Market size is expected to grow at a CAGR of 6.2% during the forecast period of 2024-2030. With the rise of technological advancements and the need for increased security, video surveillance systems have become an essential aspect of modern society. The high crime rate in South Africa is another significant driver of the video surveillance market. South Africa has one of the highest crime rates globally, with a high incidence of theft, robbery, and violent crime. Despite the growth, several challenges continue to hinder the video surveillance market’s development in South Africa. Some of the major challenges include a lack of skilled technicians to install and maintain the video surveillance systems, a lack of standardization, and perceptions of privacy violations. One of the notable trends in the video surveillance market is the adoption of cloud-based video surveillance systems. Cloud-based systems enable businesses to store their data remotely and access it through the internet, making it easy to manage and monitor.
Another trend in the market is the adoption of artificial intelligence-based video surveillance systems. These systems use AI-powered algorithms to analyze video footage, detect anomalies, and trigger alerts. The South Africa video surveillance industry presents significant opportunities for companies looking to enter the market.
Government policies and schemes introduced in the South Africa Video Surveillance Market
The government launched the National Development Plan in 2012, which targets to minimize criminal activities and enhance safety, leading to the introduction of new policies to accomplish the plan. The government also mandated that surveillance systems should comply with relevant safety requirements. Additionally, the government indicated that the companies should ensure their employees have the necessary skill sets for operating the surveillance technology.
Prominent players in the South Africa Video Surveillance Market
South Africa has several prominent players in the video surveillance market, and a few are making a considerable impact in the industry. Firstly, the Axis Communications Company has developed innovative cameras, software, and access controls devices for the market. Secondly, Zhejiang Dahua Technology Co.Ltd has launched unique and advanced cameras and analytics solutions. The other companies include Hikvision, Tiandy Technologies, and Hanwha Techwin.
Market Analysis by Offering
By Offering, the hardware segment dominated the South Africa Video Surveillance Market Share. The growth can be attributed to the rising demand for cameras, recorders, and storage devices. Moreover, the introduction of advanced technologies such as thermal cameras, panoramic cameras, and smart cameras has further boosted market growth.
Market Analysis by System
According to Rohit, Senior Research Analyst, 6Wresearch, the IP video surveillance system segment held the largest market share due to the ease of installation, high-quality image and video recording, and remote access. However, the hybrid video surveillance system segment is expected to witness the highest growth rate during the forecast period due to its benefits such as ease of integration with existing systems, scalability, and high-quality image and video resolutions.
