Artificial Intelligence (AI) In Video Surveillance
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What Will the Artificial Intelligence (AI) In Video Surveillance Industry Market Size Be by 2025?
The market size for artificial intelligence (AI) in video surveillance has experienced dramatic growth lately. The market, evaluated at $5.63 billion in 2024, is anticipated to expand to $6.81 billion in 2025, reflecting a compound annual growth rate (CAGR) of 21.0%. Several reasons contribute to this historical growth, including escalating security risks, progress in AI and machine learning, the need for instantaneous monitoring, affordability of solutions, and amalgamation with IoT devices.
What’s the Long-Term Growth Forecast for the Artificial Intelligence (AI) In Video Surveillance Market Size Through 2029?
Projected exponential growth in the artificial intelligence (AI) in video surveillance market is expected to expand its size to $14.62 billion by 2029, growing at a compound annual growth rate (CAGR) of 21.0%. This predicted growth during the forecast period can be credited to governing policies, initiatives related to smart cities, applications particular to industries, remote monitoring, and solutions based on the cloud. The prediction period is likely to see significant trends such as AI for edge computing, sophisticated analytical methods, cloud-based video surveillance, deep learning algorithms, and alerts and automation in real-time.
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What Are the Key Growth Drivers Fueling the Artificial Intelligence (AI) In Video Surveillance Market Expansion?
The surge in smart city projects is predicted to stimulate the expansion of artificial intelligence (AI) in the video surveillance sector. The term ‘smart city initiatives’ pertains to the application of technology, information, and innovation in enhancing the living standards, sustainability, and efficiency of urban areas. Such initiatives can significantly improve the potential of AI in video surveillance by offering a connected infrastructure and a plethora of data for evaluation. For example, in July 2024, the UK-based Office for National Statistics revealed that general government’s total infrastructure investment rose by 9.6% in 2022 to £26.0 billion ($32.8 billion). This included £19.3 billion ($24.4 billion) from the central government and £6.7 billion ($8.5 billion) from local government. Moreover, transport projects represented £22.5 billion ($28.5 billion), which is 74.2% of the total investment, marking a 1.1 percentage point rise from the preceding year. Therefore, the increasing smart city initiatives are fueling the expansion of AI in the video surveillance market.
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What Are the Key Trends Driving Artificial Intelligence (AI) In Video Surveillance Market Growth?
Leading businesses in the AI video surveillance market, such as Hangzhou Hikvision Digital Technology Co. Ltd., are advancing their offerings with innovative products like compact dual-lens cameras to improve surveillance abilities. Compact dual-lens cameras, with their wide-angle imaging and discreet design, are well-suited for security applications. For instance, Hangzhou Hikvision Digital Technology Co. Ltd., a video surveillance equipment company based in China, unveiled its next-gen Turbo HD 8.0 in April 2024. This product line stands as a major step forward in integrating audio and visual capabilities, presenting advanced security features such as real-time two-way audio, 180-degree stitching technology with compact dual-lens cameras, and enhanced night vision through Smart Hybrid Light. Moreover, the PowerX DVR with AcuSense blends facial recognition and motion detection technologies, demonstrating Hikvision’s dedication to the evolution of security solutions.
How Is the Artificial Intelligence (AI) In Video Surveillance Market Segmented?
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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Which Companies Are Leading the Charge in Artificial Intelligence (AI) In Video Surveillance Market Innovation?
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
Which Regions Are Leading the Global Artificial Intelligence (AI) In Video Surveillance Market in Revenue?
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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