What Is The Current and Historic Market Size Analysis Of The Artificial Intelligence AI In Video Surveillance Market?
The artificial intelligence ai in video surveillance market has seen considerable growth due to a variety of factors.
• The market for artificial intelligence within video surveillance has seen considerable expansion of late. The projected growth will see it rise from a worth of $5.63 billion in 2024 up to $6.81 billion by 2025, indicating a compound annual growth rate of 21.0%.
Factors contributing to this growth during the historical period include the rise of security threats, progress in AI and machine learning, the need for instantaneous monitoring, the affordability of solutions, and the merging with IoT devices.
What Are The Predictions for The Artificial Intelligence AI In Video Surveillance Market in the Coming Years?
The artificial intelligence ai in video surveillance market is expected to maintain its strong growth trajectory in upcoming years.
• The video surveillance market incorporating artificial intelligence (AI) is anticipated to experience significant expansion in the upcoming years. It is projected to reach a value of $14.62 billion by 2029, with a compound annual growth rate (CAGR) of 21.0%.
The surge in this timeframe is due to factors such as government rules, smart city programs, remote supervision, applications specific to various sectors, and solutions based on cloud technology. Key trends to watch during the forecast period include AI for edge computing, improved analytics, cloud-integrated video surveillance, deep learning algorithms, and real-time notifications and automation.
Which Drivers Are Accelerating Growth In The Artificial Intelligence AI In Video Surveillance Market?
The rise in initiatives for smart cities is predicted to boost the expansion of artificial intelligence (AI) in the video surveillance sector in the future. The term 'smart city initiatives' pertains to the application of technological innovations and data to enhance the urban living quality, sustainability, and efficiency. By offering a connected structure and abundant data for examination, such initiatives can substantially amplify the potential of AI in video surveillance. For example, in July 2024, the Office for National Statistics, a UK-based Statistics Authority, stated that infrastructure investment by the general government saw an increase of 9.6% in 2022, totalling £26.0 billion ($32.8 billion). Central government contributed £19.3 billion ($24.4 billion) while local government invested £6.7 billion ($8.5 billion) with transport projects claiming £22.5 billion ($28.5 billion), making up 74.2% of total investment which was a growth of 1.1 percentage point compared to the previous year. Thus, the emergence of smart city initiatives is instrumental in the expansion of artificial intelligence (AI) in the video surveillance market.
What Are The Core Segments Of The Global Artificial Intelligence AI In Video Surveillance Market?
The artificial intelligence (AI) in video surveillance market covered in this report is segmented –
1) By Offering: Hardware, Software, Service
2) By Deployment Mode: On-Premises, Cloud-Based
3) By Use Cases: Gun Detection, Industrial Temperature Monitoring, Anomaly Detection And Behavior Recognition, Facial Recognition Or Person Search, Object Detection And Perimeter Protection, Intrusion Detection And Perimeter Protection, Smoke And Fire Detection, Traffic Flow Analysis Or Accident and Traffic Incident Detection, False Alarm Filtering, Other Use Cases
4) By Vertical: Commercial, Residential, Infrastructure, Military And Defense, Public Facility, Industrial
Subsegments:
1) By Hardware: Cameras, Storage Devices, Processors
2) By Software: Video Analytics, Video Management Software (VMS), Facial Recognition Software
3) By Service: Installation And Integration, Maintenance And Support, Consulting Services
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What Emerging Trends Are Influencing The Growth Of The Artificial Intelligence AI In Video Surveillance Market?
Leading firms in the AI in video surveillance market are introducing groundbreaking products like compact dual-lens cameras to improve surveillance. Such cameras leverage two lenses to achieve wide-angle imaging while preserving a compact, unobtrusive design, rendering them suitable for security needs. For instance, in April 2024, Hangzhou Hikvision Digital Technology Co. Ltd., a Chinese firm specializing in video surveillance gear, unveiled the Turbo HD 8.0, signifying noteworthy progress in integrating audio and visual features. This product line brings forth progressive security features like two-way audio for instantaneous communication, compact dual-lens cameras equipped with 180-degree stitching technology, and Smart Hybrid Light for superior night vision. Also, the PowerX DVR equipped with AcuSense includes facial recognition and motion detection, showcasing Hikvision's devotion to innovation in security solutions.
Who Are the Key Players In The Artificial Intelligence AI In Video Surveillance Market?
Major companies operating in the artificial intelligence (AI) in video surveillance market report are:
• Huawei Technologies Co. Ltd.
• Panasonic Holdings Corporation
• Hanwha Group
• Honeywell International Inc.
• Dahua Technology Co. Ltd.
• NEC Corporation
• IntelliVision
• ZTE Corporation
• Hangzhou Hikvision Digital Technology Co. Ltd.
• Cisco Meraki
• Avigilon Corporation
• SenseTime
• Genetec Inc.
• Milestone Systems A/S
• CloudWalk Technology Co. Ltd.
• Eagle Eye Networks
• Gorilla Technology
• Clarifai
• Corsight AI
• YITU Tech
• Agent Video Intelligence Ltd.
• Pure Tech Systems
• Simshine Intelligent Technology Co. Ltd
What Are The Regional Insights Into The Artificial Intelligence AI In Video Surveillance Market?
Asia-Pacific was the largest region in the AI in video surveillance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in video surveillance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
