Mexico Surveillance Camera Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.75 Billion |
| Market Size (2029) | USD 1.27 Billion |
| CAGR (2024 - 2029) | 9.30 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Surveillance Camera Market Analysis
The Mexico Surveillance Camera Market size is estimated at USD 0.75 billion in 2024, and is expected to reach USD 1.27 billion by 2029, growing at a CAGR of 9.30% during the forecast period (2024-2029).
Investing in a security camera system significantly boosts security. Studies consistently show that these systems deter crime and frequently lead to reductions in criminal activity. In addition to their deterrent effect, security cameras are invaluable tools, offering concrete evidence in the event of criminal incidents. With their proven track record, surveillance camera systems are a cost-effective solution for crime prevention and documentation and reducing overall crime rates, thereby enhancing public safety. The rising importance of surveillance in Mexico is evident, given the escalating social unrest and the government's heightened focus on combating criminal activities.
- Historically, Mexico has grappled with the pervasive influence of cartels and drug trafficking, leading to widespread corruption and violence, with politicians, journalists, students, and public servants falling victim to assassinations. Annually, tens of thousands of homicides and kidnappings underscore the severity of the issue. Over the past two decades, Mexican city governments have turned to video surveillance as a pivotal tool in their policing strategies to address the rising violent crime linked to the drug war. Recent reports have also indicated a significant increase in surveillance cameras over the past five years.
- Organized crime groups often extort smaller businesses in towns, while rival syndicates orchestrate vandalism and robberies. In rural areas, gangs intimidate and seize lands, leading to a mass exodus of former landowners to larger cities. This migration compounds overpopulation in major urban centers, where the annual population growth rate is notably lower—Mexico City, already the world's third-largest, grapples with heightened social challenges. The housing crisis, a direct result of overpopulation, is dire, with a considerable portion of the population living in slum-like shacks, posing significant health and security risks.
- Traffic congestion plagues affluent and less privileged residents in Mexico City. The city's high density exacerbates the issue, making traffic a severe safety concern. Texas Monthly reports underscore the gravity of the situation: a traffic-related fatality happens every seven hours, with injuries occurring as frequently as every 40 minutes. Against this backdrop, video surveillance has evolved beyond a mere security measure, now serving as a tool for process automation and business optimization.
- Various industries are integrating these systems into their operations, recognizing the value of surveillance in enhancing safety. For instance, in February 2024, the Port of Tampico Madero, a vital hub on Mexico's east coast, was equipped with a CCTV system featuring 40 cameras and a dedicated monitoring center. The port handles various goods, including mining products, petrochemicals, agricultural bulk, and oversized structures, leveraging its 11 berthing positions and specialized equipment.
- However, several factors challenge the market's growth in Mexico. Although the basic surveillance camera cost is relatively lower, getting an advanced surveillance camera loaded with innovative features incurs a high cost, challenging the mass adoption rate in the country, considering the higher price sensitivity of the consumers compared to developed countries. The growing concern regarding the cybersecurity issue and misuse of surveillance data is also anticipated to influence the market's future growth in Mexico.
Mexico Surveillance Camera Market Trends
Rising Popularity of Video Analytics in Surveillance Positively Impacts the Market's Growth
- Video analytics offers a practical solution for reviewing extensive surveillance footage and efficiently identifying relevant incidents. Its implementation enhances the security monitoring process and reduces the workload on management and security personnel.
- In recent years, Mexico has experienced a significant increase in vehicle thefts. According to AMIS, an average of 168 insured vehicles were stolen daily in 2023, totaling 61,222, representing a 2.3% increase compared to the previous year's 59,871 units. However, only 42% of the stolen vehicles, or 25,535 units, were successfully recovered in 2023.
- Therefore, technological advancements and increased investment in security solutions have positioned Mexico as a potential growth market for surveillance cameras. In September 2023, cities like Puebla, Guadalajara, and Monterrey implemented new surveillance systems. A 2024 presidential candidate has committed to installing cameras with facial recognition, gun detection, license plate reading, and gait recognition capabilities nationwide. Hence, such trends are anticipated to support the market's growth in Mexico.
- The primary function of video analytics is to promptly alert security personnel to unauthorized or unwanted activities captured by surveillance cameras, enabling quick responses. The data mined from these systems can provide actionable insights to improve business processes and security protocols. Real-time video analytics can monitor events, capturing and analyzing object detection, object recognition, motion detection, and movement patterns.
- Video analytics-enabled surveillance systems can identify a range of incidents, from traffic infractions and sudden fires to suspicious individuals and poor customer experiences in retail settings. The surge in demand for AI-infused surveillance cameras is a key catalyst propelling the video analytics market in Mexico. Progress in computing and AI technologies has notably revolutionized real-time video analytics, enhancing surveillance accuracy, object recognition, motion tracking, and even the ability to interpret human emotions.
IP-based Camera to Witness Significant Growth
- The demand for IP cameras has surged in recent years, driven by the need for high-quality images and enhanced perimeter monitoring. Mexico has embraced technologies like CCTVs, data storage solutions, and advanced systems like ANPR and video analytics. This tech integration significantly boosted the adoption of IP cameras.
- Mexico has been grappling with a significant challenge: cargo theft in the transportation sector. According to the Executive Ministry of the National Public Security System (SESNSP), cargo theft cases in 2023 rose by 3.9% from the previous year, marking the highest since 2020. SESNSP's monthly Common Jurisdiction Crime Incidence Index also highlighted a 2.82% annual increase in violent robberies, with a staggering 85.6% of robberies involving violence. The states with the highest robbery rates are the State of Mexico, Puebla, Michoacan, San Luis Potosi, and Jalisco.
- While officials claim that Mexico City has seen a decrease in violent crime rates, the reality on the ground is nuanced. While some neighborhoods, especially those popular among foreigners, have seen improvements, violent robberies remain a concern, particularly in areas near the city center, notably in the central Cuauhtemoc borough. Government data corroborates this, showing persistently high robbery rates across the city.
- Despite observing a decline in recent years, the crime rate continues to remain significant in various parts of the country, creating an unsafe environment. In 2023, according to data by INEGI, about 39,900 people per 100,000 inhabitants considered their neighborhood unsafe in Mexico. According to the data by Gobierno Federal de México, National Public Security System, the number of human trafficking cases in Mexico was 729 in 2023.
- Given these challenges, surveillance cameras are increasingly vital in Mexico. These cameras offer superior video quality, boasting up to 20 times better imaging than their analog counterparts. Enhanced Zoom functions make it easier for business owners to monitor activities remotely. Hence, the improved capability of IP-based surveillance cameras will support their adoption in critical use cases during the forecast period.
Mexico Surveillance Camera Industry Overview
The Mexican surveillance camera market is moderately fragmented, with several players. Considering the growing competition owing to the entry of more players, vendors continuously try to increase their market presence by introducing new products, expanding their operations, or entering strategic mergers and acquisitions, partnerships, and collaborations. Some major players include Eagle Eye Networks, Dahua Technology Co. Ltd, Axis Communications AB, Panasonic Corporation, and Bosch Security.
- June 2024: Toluca, Mexico, bolstered its security infrastructure by installing 200 new cameras. This move is a strategic push to enhance emergency response and fortify crime prevention. Notably, 50 of these cameras come with panic button monitoring, while another 50 are tailored for license plate and facial recognition. These cameras boast a 360-degree rotation and an impressive range of up to 150 meters.
- April 2024: Axis Communications unveiled the AXIS Q1808-LE, a bullet camera boasting 4K image quality and exceptional light sensitivity. The camera's PoE output allows for seamless connectivity and power supply to additional devices without extra cabling. The camera excels in low-light conditions with its 4/3” image sensor. Its optimized IR technology ensures clear footage even in complete darkness, eliminating the need for supplementary lighting. Leveraging Lightfinder 2.0 and Forensic WDR, the camera promises accurate colors and detailed images, even in challenging lighting scenarios. Customers can opt for a wide lens, ideal for open areas, or a telephoto lens for long-distance surveillance.
Mexico Surveillance Camera Market Leaders
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Bosch Security Systems Incorporated
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Dahua Technology Co., Ltd
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Hangzhou Hikvision Digital Technology Co., Ltd.
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Panasonic Corporation
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Eagle Eye Networks
*Disclaimer: Major Players sorted in no particular order
Mexico Surveillance Camera Market News
- May 2024: Anahuac University, Queretaro campus, enhanced its security infrastructure by installing over 600 cameras and upgrading its access controls and intercom systems. The institution's directors reported that these improvements were facilitated by implementing a comprehensive security system. This system includes network cameras, advanced analytics-enabled access controls, and intercoms provided by the manufacturer Axis.
- February 2024: In Cozumel, a Mexican island city, 20 security cameras were installed. These cameras boast advanced facial recognition technology and were slated to become operational upon the C2 facility's completion. City officials specified that these cameras were strategically placed at 20 key locations, each equipped with three high-definition fixed cameras and an additional PTZ camera featuring pan-tilt technology and facial recognition capabilities.
Mexico Surveillance Camera Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Value Chain Analysis
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Consumers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
- 4.4 Impact of Macroeconomic Trends on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Rising Concern about Security and Safety in the Country
- 5.1.2 Advances in Technology, such as IoT, Artificial Intelligence, and Voice Controlled Assistants
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5.2 Market Restraints
- 5.2.1 Complex Installation and Setup and Higher Pricing
6. MARKET SEGMENTATION
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6.1 By Type
- 6.1.1 Analog Based
- 6.1.2 IP-based
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6.2 By End-user Industry
- 6.2.1 Government
- 6.2.2 Banking
- 6.2.3 Healthcare
- 6.2.4 Transportation and Logistics
- 6.2.5 Industrial
- 6.2.6 Other End-user Industries
7. Competitive Landscape
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7.1 Company Profiles*
- 7.1.1 Axis Communications AB
- 7.1.2 Bosch Security Systems Incorporated
- 7.1.3 Dahua Technology Co. Ltd
- 7.1.4 Eagle Eye Networks
- 7.1.5 Hangzhou Hikvision Digital Technology Co. Ltd
- 7.1.6 Honeywell Security Group
- 7.1.7 Samsung Group
- 7.1.8 Panasonic Corporation
- 7.1.9 Uniview Technologies Co. Ltd
- 7.1.10 FLIR Systems
- 7.1.11 GeoVision Inc.
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
** Subject To AvailablityMexico Surveillance Camera Industry Segmentation
Surveillance cameras are gaining popularity because they are cost-effective and user-friendly nature. There is a rise in installations across residential and commercial spaces to enhance security. The market study considered several trends and dynamics influencing the market's growth. It also considers the revenue accrued from the sales of different types of surveillance cameras by major market players in Mexico as the baseline for market estimations.
The Mexican surveillance camera market is segmented by type (analog-based and IP-based) and end-user industry (government, banking, healthcare, transportation, logistics, industrial, and end-user industries [educational institutions, retail, and enterprise]). The market sizes and forecasts are provided in terms of value in USD for all the above segments.
| By Type | Analog Based |
| IP-based | |
| By End-user Industry | Government |
| Banking | |
| Healthcare | |
| Transportation and Logistics | |
| Industrial | |
| Other End-user Industries |
Mexico Surveillance Camera Market Research FAQs
How big is the Mexico Surveillance Camera Market?
The Mexico Surveillance Camera Market size is expected to reach USD 0.75 billion in 2024 and grow at a CAGR of 9.30% to reach USD 1.27 billion by 2029.
What is the current Mexico Surveillance Camera Market size?
In 2024, the Mexico Surveillance Camera Market size is expected to reach USD 0.75 billion.
Who are the key players in Mexico Surveillance Camera Market?
Bosch Security Systems Incorporated, Dahua Technology Co., Ltd, Hangzhou Hikvision Digital Technology Co., Ltd., Panasonic Corporation and Eagle Eye Networks are the major companies operating in the Mexico Surveillance Camera Market.
What years does this Mexico Surveillance Camera Market cover, and what was the market size in 2023?
In 2023, the Mexico Surveillance Camera Market size was estimated at USD 0.68 billion. The report covers the Mexico Surveillance Camera Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Surveillance Camera Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Surveillance Camera Industry Report
Statistics for the 2024 Mexico Surveillance Camera market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Surveillance Camera analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
