AI in Video Surveillance Camera Market

The global AI in Video Surveillance Camera Market is valued at USD 4.1 Billion in 2022 and is projected to reach a value of USD 23.06 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 24.1% between 2023 and 2030.

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The growth of the market is driven by the increasing demand for intelligent and efficient security solutions, the growing adoption of cloud-based video surveillance systems, and the rising need for facial recognition and object detection in video surveillance.

The AI in Video Surveillance Camera market is segmented by hardware (AI cameras, monitors, storage devices, servers), software (AI video management software, AI-driven video analytics), service (VSaaS), deployment (on-premises, cloud-based), and vertical (commercial, government, residential). The cloud-based deployment segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing adoption of cloud-based video surveillance systems by businesses and governments. The commercial segment is expected to be the largest market for AI in Video Surveillance Camera during the forecast period. This is due to the increasing demand for intelligent and efficient security solutions in commercial settings such as retail stores, banks, and airports.

Some of the key trends in the AI in Video Surveillance Camera market include the increasing adoption of cloud-based video surveillance systems, the growing demand for facial recognition and object detection in video surveillance, the development of deep learning algorithms for video surveillance, and the increasing use of AI in Video Surveillance Camera for predictive analytics.

Top Trends

• Advancements in deep learning and computer vision:- These technologies are enabling AI-powered video surveillance systems to perform more complex tasks, such as facial recognition, object detection, and behavior analysis
• The growth of cloud-based video surveillance:- Cloud-based systems offer a number of advantages over traditional on-premises systems, such as scalability, flexibility, and cost-effectiveness.
• The increasing adoption of AI-powered video analytics:- These analytics solutions can be used to extract valuable insights from video data, such as traffic patterns, customer behavior, and security threats.
• The growing demand for AI-powered video surveillance in smart cities:- Smart cities are using AI-powered video surveillance to improve public safety, traffic management, and environmental monitoring.
• The increasing use of AI-powered video surveillance in the retail industry:- Retailers are using AI-powered video surveillance to prevent shoplifting, fraud, and other crimes.

Market Segmentation

By offering, the market is segmented into hardware, software, and service. Hardware includes AI cameras, monitors, storage devices, and servers. Software includes AI video management software, AI-driven video analytics, and VSaaS. Service includes professional services such as installation, maintenance, and support.

By deployment mode, the market is segmented into on-premises and cloud-based. On-premises systems are installed and managed on-site, while cloud-based systems are hosted in the cloud and managed remotely.

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By use cases, the market is segmented into detection, industrial temperature monitoring, anomaly detection and behavior recognition, facial recognition/person search, object detection and tracking, intrusion detection and perimeter protection, smoke and fire detection, traffic flow analysis/accident and traffic incident detection, false alarm filtering, parking monitoring, and vehicle identification and numberplate recognition.

By vertical, the market is segmented into commercial, residential, infrastructure, military & defense, public facility, and industrial. Commercial applications include retail stores, banks, and casinos. Residential applications include homes and apartments. Infrastructure applications include airports, bridges, and power plants. Military & defense applications include government agencies such as the military and the police. Public facility applications include schools, hospitals, and government buildings. Industrial applications include factories, power plants, and warehouses.

By region, the market is segmented into North America, Europe, Asia Pacific, and RoW. North America is the largest market for AI in Video Surveillance Camera, followed by Europe and Asia Pacific.

Based on Offering

The hardware segment is expected to hold the largest market share in the AI in Video Surveillance Camera market during the forecast period. This is because hardware makes up more than 60% of the total cost of an AI-based video surveillance system. Additionally, the use of cameras is increasing worldwide due to rising security concerns. The shift towards IP cameras has led to many hardware-based innovations, such as better low-light performance, object tracking, and in-built security. Technological advancements have also resulted in highly specialized surveillance cameras that can be programmed to zoom in and scan items, such as harmful equipment.

Based on Deployment Mode

The cloud-based market for AI in Video Surveillance Camera is expected to grow at the highest CAGR during the forecast period. This is due to the numerous advantages of cloud-based AI, such as scalability, cost-effectiveness, and flexibility. Cloud-based AI can handle large volumes of video footage efficiently, and it allows for centralized management and storage of video data. This eliminates the need for on-site hardware and infrastructure, which can save businesses money and simplify maintenance.

Based on Verticle

The infrastructure vertical is expected to grow at the highest CAGR in the AI in Video Surveillance Camera market during the forecast period. This is due to the increasing emphasis on public safety and security in transportation systems, cities, and public places. Governments and organizations worldwide are recognizing the crucial role that video surveillance plays in ensuring the safety of citizens and infrastructure. Recent investments in smart city initiatives and transportation infrastructure are also driving the demand for AI-based video surveillance systems in this vertical.

Based on Region

Asia Pacific is expected to hold the largest market share in the AI in Video Surveillance Camera market during the forecast period. This is due to the increasing demand for video surveillance systems in China, India, and other countries in the region. China is one of the largest consumers of video surveillance devices and systems globally. The country is determined to implement video surveillance cameras equipped with facial recognition technology in crucial public areas to enhance security and maintain social stability. Additionally, the extensive infrastructure projects in China are driving the demand for high-definition surveillance systems capable of capturing clear images even in low-light conditions.

Competative Landscape

Hikvision: Hikvision is a Chinese company that is one of the leading providers of video surveillance products and solutions globally. The company offers a wide range of AI-powered video surveillance products, including cameras, software, and analytics. Hikvision is the largest player in the AI in video surveillance market, with a market share of over 30%.

Dahua: Dahua is another Chinese company that is a major player in the AI in video surveillance market. The company offers a wide range of AI-powered video surveillance products, including cameras, software, and analytics. Dahua is the second-largest player in the market, with a market share of over 20%.

Avigilon Corporation: Avigilon is a Canadian company that is a leading provider of video surveillance solutions for commercial and government organizations. The company offers a wide range of AI-powered video surveillance products, including cameras, software, and analytics. Avigilon is a major player in the North American market.

Milestone Systems A/S: Milestone Systems is a Danish company that is a leading provider of open platform video management software (VMS). The company offers a wide range of AI-powered video surveillance solutions, including VMS, cameras, and analytics. Milestone Systems is a major player in the European market.

YITU Tech: YITU Tech is a Chinese company that is a leading provider of AI-powered video analytics solutions. The company offers a wide range of solutions for facial recognition, object detection, and crowd

SenseTime: SenseTime is another Chinese company that is a leading provider of AI-powered video analytics solutions. The company offers a wide range of solutions for facial recognition, object detection, and crowd analysis. SenseTime is a major player in the Chinese market.

Agent Video Intelligence Ltd.: Agent Video Intelligence is an Israeli company that is a leading provider of AI-powered video analytics solutions for the retail industry. The company offers a wide range of solutions for fraud detection, customer behavior analysis, and inventory management. Agent Video Intelligence is a major player in the retail market.

Recent Developments

In 2022, Hikvision, a leading global supplier of video surveillance products, launched a new AI-based video surveillance system that uses deep learning to detect and track people in real time.

In 2023, Amazon Web Services (AWS) announced the launch of a new service called Amazon Rekognition Video, which uses AI to analyze video footage and extract insights such as facial recognition, object detection, and scene analysis.

In 2023, the city of San Francisco announced that it would be using AI-based video surveillance systems to monitor traffic and detect crime.

Segmentation of the Global AI in Video Surveillance Camera Market