AI In Video Surveillance Market Size & Share, By Component (Hardware, Software, Services), Deployment (Cloud-based, On Premise), End Users (Commercial, Residential, Infrastructure, Defense and Military, Public Facility, Industrial), Use Cases, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

AI In Video Surveillance Market exceeded USD 5.67 Billion in 2023 and is likely to cross USD 20.09 Billion by end of the year 2032, growing at over 16% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 5.67 Billion
• CAGR (2024-2032): 16%
• Forecast Year Value (2032): USD 20.09 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

One major growth driver for the AI in video surveillance market is the increasing demand for advanced security solutions to combat rising security threats. With the growing number of security breaches and terrorist activities worldwide, organizations are turning to AI-powered video surveillance systems to enhance their security measures. These systems offer real-time monitoring, predictive analytics, and facial recognition capabilities, which can help to prevent crimes and identify suspects more effectively.

Another key growth driver for the market is the rapid advancements in artificial intelligence technology. AI algorithms are becoming increasingly sophisticated, enabling video surveillance systems to analyze vast amounts of data and identify patterns or anomalies in real-time. This has led to the development of more intelligent and proactive security solutions, which are in high demand across various industries such as retail, banking, transportation, and government.

Furthermore, the integration of AI with cloud computing and IoT devices is creating new opportunities for the video surveillance market. Cloud-based video surveillance solutions offer scalability, flexibility, and cost-effectiveness, making them ideal for organizations with large-scale surveillance needs. Additionally, the proliferation of IoT devices such as smart cameras and sensors is driving the adoption of AI-powered video analytics, as these devices generate vast amounts of data that can be analyzed to improve security and operational efficiency.

Report Scope

Report Coverage	Details
Segments Covered	Component, Deployment, Use Cases, End User
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Agent Vi, Avigilon, Axis Communications, AxxonSoft, Bosch Security Systems, BriefCam, Dahua Technology, Eagle Eye Networks, FLIR Systems, Genetec, Hanwha Techwin, Hikvision, Honeywell International, IDIS, Johnson Controls, March Networks, Pelco, Qognify, Verkada, VIVOTEK,

Industry Restraints:

Despite the rapid growth of the AI in video surveillance market, there are several restraints that could hinder its further expansion. One major restraint is the high initial cost of implementing AI-powered video surveillance systems. The installation of advanced cameras, servers, and analytics software can be expensive, especially for small and medium-sized businesses. Additionally, maintaining and updating these systems requires ongoing investments, which may deter some organizations from adopting AI technologies.

Another key restraint for the market is data privacy and security concerns. With the increasing use of AI in video surveillance, there are growing worries about the misuse of personal data and the potential for surveillance systems to infringe on individuals' privacy rights. To address these concerns, regulators are implementing stricter data protection laws, such as the GDPR in Europe, which require organizations to secure and anonymize video data to protect individuals' privacy. These regulations could pose challenges for companies operating in the video surveillance market, as they must ensure compliance with data privacy laws while leveraging AI technologies for security purposes.

Regional Forecast:

North America:

The AI in video surveillance market in North America is expected to witness significant growth due to the increasing adoption of advanced surveillance technologies, growing concerns about security threats, and the presence of key market players. The United States and Canada are the major contributors to the market in this region. In the United States, the market is driven by the increasing demand for smart surveillance solutions in various sectors such as government, retail, and transportation. The adoption of AI-powered video analytics for facial recognition, object detection, and behavior analysis is further propelling the market growth.

Asia Pacific:

In Asia Pacific, countries such as China, Japan, and South Korea are witnessing rapid growth in the AI in video surveillance market. China is a major market for AI-powered surveillance systems, with the government investing heavily in smart city projects and public safety initiatives. Japan and South Korea are also adopting AI technologies for video surveillance to enhance security measures and improve public safety. The increasing investment in smart surveillance solutions and the presence of key market players in these countries are driving the market growth in the region.

Europe:

The AI in video surveillance market in Europe is experiencing steady growth, with countries like the United Kingdom, Germany, and France leading the way. The market in the United Kingdom is driven by the increasing demand for advanced security solutions in various sectors such as banking, healthcare, and transportation. In Germany, the adoption of AI technologies for video surveillance is growing due to the increasing focus on public safety and security. France is also witnessing a rise in the adoption of AI-powered surveillance systems for law enforcement and urban planning purposes. The presence of key market players and government initiatives to enhance security measures are fueling the market growth in Europe.

Segmentation Analysis:

In terms of segmentation, the global ai in video surveillance market is analyzed on the basis of Component, Deployment, Use Cases, End User

AI In Video Surveillance Market Size & Share:

The AI in video surveillance market is segmented based on components, which include hardware, software, and services. The hardware segment includes cameras, sensors, and network equipment, while the software segment consists of video analytics and deep learning algorithms. The services segment comprises installation, maintenance, and consulting services. In 2020, the hardware segment held the largest market share due to the increasing adoption of advanced video surveillance systems.

Deployment:

The deployment segment of the AI in video surveillance market is divided into cloud-based and on-premise solutions. Cloud-based deployment offers scalability, flexibility, and cost-effectiveness, making it a popular choice among businesses. On the other hand, on-premise deployment provides better control, security, and data privacy. In 2020, the cloud-based deployment segment witnessed significant growth due to the rising trend of remote monitoring and management.

End Users:

The AI in video surveillance market is categorized based on end users, including commercial, residential, infrastructure, defense and military, public facilities, and industrial sectors. The commercial sector, encompassing retail, healthcare, and banking, is the largest end-user segment due to the need for security and surveillance solutions. The defense and military segment is expected to witness substantial growth due to the increasing adoption of AI-powered video surveillance systems for national security.

Use Cases:

The AI in video surveillance market is further segmented based on use cases, such as facial recognition, vehicle tracking, intrusion detection, and crowd management. Facial recognition technology is gaining traction in various industries, including retail and law enforcement, due to its advanced capabilities in identifying individuals. Vehicle tracking use case is popular in smart city projects and transportation management, enabling real-time monitoring and tracking of vehicles. Intrusion detection and crowd management are essential applications in security and public safety sectors, driving the demand for AI-powered video surveillance systems.

Competitive Landscape:

The AI in Video Surveillance market is highly competitive due to the increasing demand for advanced video analytics and security solutions. Companies are constantly innovating and improving their AI capabilities to stay ahead of the competition. Some key players in the market include IBM, Hikvision, Dahua Technology, Axis Communications, Avigilon, Honeywell Security, Bosch Security, Pelco, Genetec, and Verkada. These companies offer a wide range of AI-powered surveillance solutions, including facial recognition, behavior analysis, object detection, and real-time alerts. With the increasing adoption of AI technologies in the video surveillance industry, these top players are expected to continue leading the market in the coming years.