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How Has the Artificial Intelligence (AI) In Video Surveillance Market Size Shifted in Recent Years?
Recent years have seen an exceptional growth in the size of the artificial intelligence (AI) in video surveillance market. Expanding from a substantial $5.63 billion in 2024, the market is forecasted to further grow to $6.76 billion in 2025, indicating a significant compound annual growth rate (CAGR) of 20.1%.
The historic growth period saw factors like escalating security threats, innovations in AI and machine learning, the requirement for real-time surveillance, affordable solutions, and harmonization with IoT devices, contributing substantially to the rise.
The market size of artificial intelligence (AI) in video surveillance is predicted to increase exponentially in the succeeding years. It is projected to reach a worth of $14.42 billion by 2029, growing at a compounded annual growth rate (CAGR) of 20.9%.
This increase during the forecasted period can be related to several factors such as government directives, smart city schemes, distant surveillance, applications unique to industries, and cloud-enabled solutions. Significant trends in the predictable timespan include AI edge computing, enhanced analytical tools, cloud-based video security, deep learning procedures, and real-time warnings and automation.
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Which Market Conditions Are Fueling the Growth of the Artificial Intelligence (AI) In Video Surveillance Industry?
The expansion of initiatives related to smart cities is anticipated to fuel the development of artificial intelligence (AI) within the video surveillance industry. Such initiatives encompass the utilization of innovative technology and data to enhance the quality of life, sustainability, and productivity in urban environments.
An enriched infrastructure and copious data for analysis provided by smart city initiatives can remarkably augment the efficacy of AI in video surveillance.
For instance, as reported by the UK-based Office for National Statistics in July 2024, the total investment on infrastructure by general government saw a 9.6% rise in 2022, amassing to £26.0 billion ($32.8 billion).
This comprised of £19.3 billion ($24.4 billion) from central government and £6.7 billion ($8.5 billion) from local administration, while transport projects made up for £22.5 billion ($28.5 billion), denoting 74.2% of the total investment, showing an increase of 1.1 percentage points from the preceding year. Hence, the escalation in smart city initiatives is a major contributor to the growth of AI in the video surveillance sector.
Performance of Leading Segments in the Artificial Intelligence (AI) In Video Surveillance Global Market
The artificial intelligence (ai) in video surveillancemarket 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 Trends Will Shape the Evolution of the Artificial Intelligence (AI) In Video Surveillance Market?
Leading companies involved in the AI for video surveillance market have been pioneering inventive products like compact dual-lens cameras to advance surveillance abilities. These cameras employ two lenses to deliver wide-angle images while maintaining a modest, unobtrusive shape suitable for security uses.
For example, Hangzhou Hikvision Digital Technology Co. Ltd, a video surveillance equipment firm from China, unveiled their latest product, Turbo HD 8.0 this past April 2024.
This marks a substantial progression in the integration of audio-visual technology. The Turbo HD 8.0 showcases numerous high-level security attributes such as real-time communication via two-way audio, compact dual-lens cameras utilizing 180-degree stitching technology, and Smart Hybrid Light for amplified night vision.
Moreover, the PowerX DVR paired with AcuSense incorporates facial recognition as well as motion detection features, reflecting Hikvision’s dedication towards security solution innovation.
What Are the Regional Hotspots for Artificial Intelligence (AI) In Video Surveillance Market Growth?
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.
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Which Companies Hold the Largest Market Share in the Artificial Intelligence (AI) In Video Surveillance Industry?
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
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