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The AI in video surveillance market is set to reach US$ 18.726 BN by 2032, at a 15.30% CAGR between years 2023-2032. Market dynamics of artificial intelligence (AI) especially in the video surveillance space are moving through a revolution, redefining our imprint to security and monitoring.
Therefore, as technological developments continue to redefine traditional surveillance systems, AI is of focus as the procedure that has become a catalyst for developing enhanced total video surveillance solutions efficiency and efficacy. One of the main drivers contributing to AI adoption in this market segment is an enhanced demand for solutions regarding more active and intelligent security measures.
In traditional surveillance systems, one of the main challenges is that they are overwhelmed by large amounts of data, failing to deliver real-time analysis and fail to detect threats accordingly. On the other hand, AI brings about a departure from this lays emphasis attention to detail and pattern recognition by allowing automated evaluation of big data sets, thereby enabling swift detection even subtle anomalies amidst threats conducive haze.
The introduction of machine learning algorithms plays a fundamental role in the video surveillance’s development. These algorithms help the system to learn and adjust for patterns given enough time, allowing it to differentiate between normal activities from unfaithful behavior over time. This adaptive leaning ability increases the overall system responsiveness, in turn reducing false alarms and aiding security personnel provide viable insights.
The other important dimension revolving the market dynamics is speedy modernization of video analytics. Facial recognition, object detection, and behavioral analysis are some of the numerous ways that AI-powered video analytics can be used. Firstly, such simplification of the process makes it possible to automate some actions eliminating rest performance by monitors; for example, tracking a politician or recognizing an object in the crowd.
The integration of video analytics not only provides better security but introduces more cost saving opportunities to industry and organization rivals in the battle for operational efficiency. It should be noted that there has been a trend in the increasing demand for AI-based video surveillance across utilities like independent industry businesses, transports, and critical infrastructure. It is for instance used by retailers to study the behavior of customers.
In order to improve some strategies like store arrangement and prevent shoplifting. In the area of transport, video surveillance enabled by AI ensures that traffic management is done effectively and in doing so reducing accidents thus promoting safety for commuters. If anyone needs to live their lives with energy and electric utilities which are critical infrastructure sectors then police must have the right system like AI that could allow monitoring as well as protection of important facilities, sustaining the operation of essential services.
The cost-efficiency of AI, moreover, serves as a critical force motivating the implementation of AI in video surveillance. Although the initial costs of AI-powered systems may be greater, this is offset by the ongoing benefits they provide in terms of reduced personnel needs and improved threat detection, making it a more efficient security choice.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Vertical, Offering, Deployment Mode, Use Cases, and Region |
AI in Video Surveillance Market Highlights:
AI in Video Surveillance Market Overview
AI in Video Surveillance Market Size was valued at USD 5.2 Billion in 2022. The AI in video surveillance market industry is projected to grow from USD 5.99 Billion in 2023 to USD 18.726 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.30% during the forecast period (2023 - 2032). Government ambitions to create smart cities and the growing demand for real-time data for commercial applications are the two main market drivers for the growth of the video surveillance industry.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
AI in Video Surveillance Market Trends
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Growing smart city programs is driving market growth
The expansion of smart city programs offers a sizable possibility for the use of Al in video surveillance. Smart cities make use of cutting-edge technologies to improve urban infrastructure, boost livability, and better manage resources. In order to accomplish these objectives and handle the different problems metropolitan environments encounter, al-powered video surveillance systems are essential. Increasing public safety is a major opportunity for smart city efforts. Al-based video surveillance can make it possible to monitor vital infrastructure, transportation networks, and public areas in real time. By automatically identifying and alerting to suspicious activity, crowd control, or traffic issues, all video surveillance aids in crime prevention, emergency response, and general public safety.
The use of Al in the video surveillance market is being fueled by developments in deep learning and computer vision. A subset of machine learning known as deep learning has completely changed computer vision by making it possible to create extremely precise and effective algorithms for processing visual data. Deep learning algorithms can analyze video feeds in real time for video surveillance, enabling quick and precise recognition of objects, events, and abnormalities. For instance, they can recognize particular things like cars, people, or weapons, follow their movements, and categorize their behavior. Deep learning developments have also increased the precision and dependability of facial recognition technologies, providing more reliable identification and authentication capabilities in video surveillance applications. Thus, driving the AI in video surveillance market revenue.
AI in Video Surveillance Market Segment Insights
AI in Video Surveillance Vertical Insights
The AI in Video Surveillance Market segmentation, based on vertical, includes Commercial, Residential, Infrastructure, Military and defense, Public Facility, and Industrial. The infrastructure segment dominated the market. Driven by a number of causes and backed by substantial investments and technological developments. The growing focus on public safety and security in cities, transit systems, and public areas is a major motivator. The essential role that video surveillance plays in maintaining the protection of persons and infrastructure is being acknowledged by governments and organizations all over the world.
AI in Video Surveillance Offering Insights
The AI in Video Surveillance Market segmentation, based on offering, includes Hardware, Software, and Service. The hardware segment dominated the market. Due to growing security concerns in a variety of industries, there is also an increase in the deployment of cameras globally. An increase in hardware-based advancements that improve low-light performance, object tracking, and built-in security has resulted from the industry shift toward IP cameras.
AI in Video Surveillance Deployment Mode Insights
The AI in Video Surveillance Market segmentation, based on deployment mode, includes On-premises and Cloud-based. The cloud-based category generated the most income. A growing number of people are expected to start using cloud-based video surveillance in the future because of all of its benefits. Scalability is one important factor. Cloud-based Al offers a scalable solution that can efficiently process enormous volumes of video footage in light of the exponential rise of video data produced by security cameras.
Figure 1: AI in Video Surveillance Market, by Deployment Mode, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
AI in Video Surveillance Use Cases Insights
The AI in Video Surveillance Market segmentation, based on use cases, includes Gun Detection, Industrial Temperature Monitoring, Anomaly detection and Behavior Recognition, Facial recognition/Person search, Object detection and perimeter protection, Intrusion detection and perimeter protection, Smoke and Fire Detection, Traffic Flow Analysis/ Accident and Traffic Incident Detection, False alarm filtering, Parking Monitoring, Vehicle Identification and Numberplate Recognition. The vehicle identification and numberplate recognition segment dominated the market because it has the ability to increase security and automate many operations. The ability of this technology to detect and identify license plates on moving objects using AI algorithms makes it useful for a variety of purposes, including traffic control, parking management, and law enforcement.
AI in Video Surveillance Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American AI in video surveillance market area will dominate this market, driven by an increasing need for sophisticated security solutions and the necessity of effective monitoring in a changing threat environment as a result of real-time object recognition, behavior analysis, and anomaly detection-enabled by AI technology, video surveillance systems are revolutionized. These developments strengthen security measures in a variety of industries, including vital infrastructure, public safety, transportation, and retail. Proactive surveillance is made possible by these developments.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea.
Figure 2: AI in Video Surveillance Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe AI in video surveillance market accounts for the second-largest market share, driven by the rising requirement for sophisticated security solutions as well as the necessity for effective monitoring and crime prevention in a constantly shifting threat environment. AI has completely changed how surveillance systems read and analyze video data, improving their ability to recognize and efficiently address security concerns. Further, the German AI in video surveillance market held the largest market share, and the U.K AI in video surveillance market was the fastest growing market in the European region.
The Asia-Pacific AI in Video Surveillance Market is expected to grow at the fastest CAGR from 2023 to 2032. One of the most important areas to use AI-based video surveillance systems to reduce crime and produce real-time data to feed the system is the Asia-Pacific. As one of the IT industry's hubs, the area has benefited from the AI base surveillance's assistance in luring several international companies for investment, producing income, luring FDI, and establishing safe business prospects for the locals. Moreover, China’s AI in video surveillance market held the largest market share, and Indian AI in video surveillance market was the fastest-growing market in the Asia-Pacific region.
AI in Video Surveillance Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to increase their product lines, which will help the AI in video surveillance market grow even more. Market participants are also undertaking number of strategic activities to expand their global footprint, with important market developments including new product launches, higher investments, mergers and acquisitions, contractual agreements, and collaboration with other organizations. To increase and survive in a more competitive and rising market climate, AI in video surveillance industry must offer cost-friendly items.
Manufacturing locally to reduce operational costs is one of the key business tactics used by manufacturers in the global AI in video surveillance industry to benefit clients and increase the market sector. In recent years, the AI in video surveillance industry has offered some of the most significant advantages to medicine. Major players in the AI in video surveillance market are attempting to increase market demand by investing in research and development operations, including Hangzhou Hikvision Digital Technology Co., Ltd. (China), Dahua Technology Co., Ltd. (China), Avigilon Corporation (Canada), Milestone Systems A/S (Denmark), YITU Tech (China), SenseTime (China), and Agent Video Intelligence Ltd. (US).
Hikvision is a producer and seller of business intelligence and video surveillance goods and services based in Hangzhou, China. Network video recorders, cards for encoding and decoding video and audio, brackets, network cameras, digital video recorders, intercoms, enterprise network storage, alarms, network cables, analog cameras, PTZ cameras, monitors, controllers, LCD and LED screens, and accessories are among the company's product offerings. Hikvision supports the fields of industry, education, logistics, manufacturing, oil and gas, health care, retail, mobile transportation, and traffic.
The supplier of monitoring goods is Dahua Technology Co Ltd (Dahua). It provides security goods like remote image monitoring, advanced video surveillance systems, and access control. Cameras, display and control, storage, transfer, and intelligent building systems are only a few of the goods offered by the company. Dahua's provides application solutions for fire lane obstruction, illegal parking, smb safety protection, perimeter protection, radar perimeter protection, face recognition, smart interactive whiteboards, and vehicle entry and exit. In May 2023, Dahua engine, a global leader in video-centric AloT solutions and services, officially launched the most recent AcuPick video search engine to make it easier and more accurate for customers to find their desired movies.
Key Companies in the AI in video surveillance market include
- Hangzhou Hikvision Digital Technology Co., Ltd. (China)
- Dahua Technology Co., Ltd. (China)
- Avigilon Corporation (Canada)
- Milestone Systems A/S (Denmark)
- YITU Tech (China)
- SenseTime (China)
- Agent Video Intelligence Ltd. (US)
AI in Video Surveillance Industry Developments
June 2023: Protect 2023 R2, the most recent product update from Milestone Systems, is a software update made to address the changing needs of customers of video management software (VMS).
May 2023: In order to provide public safety organizations with another essential source of real-time field intelligence and collaboration, Motorola Solutions unveiled the V700, a next-generation body camera with mobile broadband capabilities. The M500 in-car video system, APX radios, and Holster Aware sensors are all supported by the cloud-based Aware platform, which the V700 interfaces with without any issues. Aware also offers a standard operational perspective.
AI in Video Surveillance Market Segmentation
AI in Video Surveillance Vertical Outlook (USD Billion, 2018-2032)
- Commercial
- Residential
- Infrastructure
- Military & Defense
- Public Facility
- Industrial
AI in Video Surveillance Offering Outlook (USD Billion, 2018-2032)
- Hardware
- Software
- Service
AI in Video Surveillance Deployment Mode Outlook (USD Billion, 2018-2032)
- On-premises
- Cloud-based
AI in Video Surveillance Use Cases Outlook (USD Billion, 2018-2032)
- Gun Detection
- Industrial Temperature Monitoring
- Anomaly Detection and Behavior Recognition
- Facial Recognition/Person Search
- Object Detection and Perimeter Protection
- Intrusion Detection and Perimeter Protection
- Smoke and Fire Detection
- Traffic Flow Analysis/ Accident and Traffic Incident Detection
- False Alarm Filtering
- Parking Monitoring
- Vehicle Identification and Numberplate Recognition
AI in Video Surveillance Regional Outlook (USD Billion, 2018-2032)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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