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Global AI CCTV Market Size was valued at USD 15.2 Billion in 2022. The AI CCTV market industry is projected to grow from USD 17.6 Billion in 2023 to USD 54.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.40% during the forecast period (2023 - 2032). an increased concern for public safety and security and an increased need for technologically advanced surveillance systems, are the key market drivers enhancing the market growth.
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Governments all across the world utilize surveillance cameras to assist them spot any activity that could be a security risk. Although there are millions of cameras, no one is constantly keeping an eye on them. However, artificial intelligence (Al) has the capacity to instantly analyze every frame and spare millions of lives. Many countries are using cutting-edge Al surveillance technology to map, track, and control people in order to accomplish various governmental goals. It is having such a significant impact because of Al's ability to learn for himself. The computer first honed its capacity for critical thought in relation to intriguing objects in the scene. Currently, it recognizes objects in the real world, compares the results to the precise annotations (provided by people), and attempts to improve. Thus, driving the AI CCTV market revenue.
The global AI CCTV market segmentation, based on Offering, includes managed hardware, camera modules, monitor, storage, others, software, and services. Software segment dominated the global market in 2022. This is a result of various factors, including as the rise in concerns about the safety and security of the general public and the demand for technologically advanced surveillance systems.
The global AI CCTV market segmentation, based on Camera Type, includes PTZ camera, dome cameras, bullet cameras, box cameras, and others. The Dome Camera segment dominated the global market in 2022. This can be attributed to the world-class features of the AI dome CCTV camera, which allow it to perform far better than other cameras.
The global AI CCTV market segmentation, based on Deployment, includes cloud-based and on-premise. Cloud-based segment dominated the global market in 2022. The increase in demand for AI CCTVs globally and their trustworthy implementation using cloud-based storage account for this. The installation of AI-powered CCTV cameras at traffic lights is projected to improve the accuracy and efficacy of license plate recognition, enabling the quicker identification of cars of interest like stolen or wanted vehicles.
The global AI CCTV market segmentation, based on End User, includes residential, commercial, and industrial. Commercial segment dominated the global AI CCTV market in 2022. This is a result of both developed and emerging countries' growing commercial demand for AI CCTV modules. Only a few industries, like retail, healthcare, banking, and transportation, use technology to improve security and increase productivity.
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Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America AI CCTV Market dominated this market in 2022 (45.80%). This is a result of both developed and emerging countries' growing commercial demand for AI CCTV modules. Only a few industries, like retail, healthcare, banking, and transportation, use technology to improve security and increase productivity. Further, In the North American area, the U.S. AI CCTV market had the biggest market share, while the Canada AI CCTV market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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In 2022, the Europe AI CCTV market held a sizable market share. It is anticipated that a key factor driving growth in Europe would be the growing application of AI and machine learning in the industrial sector. Further, In the European region, the German AI CCTV market had the biggest market share, and the U.K. AI CCTV market had the quickest rate of growth.
From 2023 to 2032, the Asia Pacific AI CCTV market is anticipated to grow significantly. This is a result of a number of factors, including growing public security and safety worries and rising demand for highly advanced monitoring equipment. Moreover, In the Asia-Pacific region, the Indian AI CCTV market had the quickest rate of growth while China's AI CCTV market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the AI CCTV market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The AI CCTV sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide AI CCTV industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the AI CCTV sector. Major players in the AI CCTV market, including Axis Communications Ab, Bosch Security Systems GmBH (Robert Bosch GmBH), D-Link Corporation, Eagle Eye Networks, Hangzhou Hikvision Digital Technology Co., Ltd., Hanwha Techwin., Panasonic Corporation, Swann, FLIR Systems, Inc., VIVOTEK INC, are attempting to increase market demand by investing in research and development operations.
Panasonic i-PRO Sensing Solutions Co., Ltd. is a company that provides surveillance systems. i-PRO Co., Ltd. is the global pioneer in cutting-edge sensing technologies for intelligent surveillance, public safety, and industrial/medical imaging. Based on Panasonic's more than 60 years of invention, i-PRO was established in 2019. It manufactures parts and gadgets for the industrial, medical, and security industries. The company offers hardware, software, and services for security surveillance, public safety, and medical imaging. The newest application to its line-up of edge-based AI analytics solutions, AI Scene Change Detection, will be unveiled by i-PRO Co. Ltd. at the upcoming ISC West 2023 conference in November 2023. This new feature, which takes use of cutting-edge artificial intelligence technology to recognize changes in a surveillance camera's field of view and warn security professionals in real-time, improves the overall situational awareness of the area being observed.
The Spot AI network video recording system is developed to offer a quick and simple method of deploying video surveillance into the cloud. The company's solution enables customers to securely view, search, and share any video footage from any camera at any operating location in a single web dashboard and can be set up fast and simply without the need for IT experience. This gives businesses the freedom to fully utilize their video content for administrative and security needs. Recently, a $40 million investment round for Spot AI was completed. The company plans to use the funds to advance its cutting-edge technology in order to make CCTV security cameras smarter and better able to recognize potential threats.
· Axis Communications Ab
· Bosch Security Systems GmBH (Robert Bosch Gmbh)
· D-Link Corporation
· Eagle Eye Networks
· Hangzhou Hikvision Digital Technology Co., Ltd.
· Hanwha Techwin
· Panasonic Corporation
· Swann
· FLIR Systems, Inc.
· VIVOTEK INC
October 2021: Spot AI emerges from hiding with USD 22 million to build a platform that would enable organizations' basic security videos to produce more intelligence.
· Hardware
· Camera Modules
· Monitor
· Storage
· Others
· Software
· Services
· PTZ Camera
· Dome Camera
· Bullet Camera
· Box Camera
· Others
· Cloud-based
· On-premise
· Residential
· Commercial
· Industrial
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 15.2 Billion |
|
Market Size 2023 |
USD 17.6 Billion |
|
Market Size 2032 |
USD 54.2 Billion |
|
Compound Annual Growth Rate (CAGR) |
15.40% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Offering, Camera Type, Deployment, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Axis Communications Ab, Bosch Security Systems GmBH (Robert Bosch GmBH), D-Link Corporation, Eagle Eye Networks, Hangzhou Hikvision Digital Technology Co., Ltd., Hanwha Techwin., Panasonic Corporation, Swann, FLIR Systems, Inc., VIVOTEK INC |
|
Key Market Opportunities |
Growth of the infrastructure sector in Asia-Pacific |
|
Key Market Dynamics |
Increase in demand for technically advanced surveillance system and rise in concerns related to public safety & security |
The global AI CCTV Market was valued at USD 15.2 billion in 2022, and it is estimated to reach USD 54.2 billion by 2032.
The global market is projected to grow at a CAGR of 15.40% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Axis Communications Ab, Bosch Security Systems GmBH (Robert Bosch GmBH), D-Link Corporation, Eagle Eye Networks, Hangzhou Hikvision Digital Technology Co., Ltd., Hanwha Techwin., Panasonic Corporation, Swann, FLIR Systems, Inc., VIVOTEK INC
The Software Offering dominated the market in 2022.
The Dome Camera Type had the largest share in the global market.
Report Code :
RL65153
Published on :
Sep 2023
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