AI CCTV Market Size is Projected to Reach USD 54.0 Billion at a CAGR of 15.20% by 2032 – Report by Market Research Future (MRFR)
Research Reports
Oct 11, 2023
Market Overview
Market Research Future (MRFR) ‘s report highlights AI CCTV Market Information By Compound, Application, Distribution Channel And Region – Forecast till 2032″; the market will achieve USD 54.0 Billion in 2032 at a 15.20% CAGR.
AI CCTV is a technology that adds an artificial intelligence (AI) layer to camera technology. Typically, the AI layer is added at several levels of the technological stack, such as the network video recorder (NVR) level, the camera level, or the cloud level. Governments worldwide utilize surveillance cameras to assist them in spotting any activity that could be a security risk.
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Although there are countless cameras, no one is constantly watching them. However, artificially intelligent technology (Al) can analyze every frame and save countless lives instantly. Many countries use revolutionary Al surveillance equipment to locate, track, and control people to accomplish various governmental goals. It is because of Al’s aptitude for self-learning. Government agencies’ rising use of AI CCTV at traffic lights to detect and recognize registration numbers on moving or stopped cars also helps the market’s growth.
AI CCTV Market Key Players –
- Eagle Eye Networks
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Hanwha Techwin
- Panasonic Corporation
- Axis Communications Ab
- Bosch Security Systems GmBH (Robert Bosch Gmbh)
- D-Link Corporation
- Swann
- FLIR Systems, Inc.
- VIVOTEK INC
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Over the forecast period, the revenue from the worldwide AI CCTV market is anticipated to increase significantly. This is ascribed to the rise in public security and safety concerns and the desire for technologically sophisticated surveillance systems. The government agencies’ increased usage of AI CCTV at intersections to detect and identify registration numbers on moving or parked cars also contributes to the market’s expansion.
However, one of the biggest barriers to the worldwide market is a lack of knowledge about cutting-edge products. The amount of money earned from the global AI CCTV market is predicted to rise significantly over the forecast period. This is attributed to increased worries about public safety and security and the demand for technologically advanced surveillance systems.
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Market Segmentation
PTZ, bullet, box, dome, and other types of cameras are included in the AI CCTV Market segmentation based on camera type. The AI CCTV Market is divided into cloud-based and on-premise segments based on deployment. The AI CCTV Market segmentation based on offering includes managed hardware, software, and services. Residential, business premises, and industrial end users are included in the AI CCTV market breakdown by end user.
Regional Insights
Due to the expansion of the infrastructure industry, North America now has most of the AI CCTV market share. However, Asia-Pacific is expected to grow significantly during the predicted period. By the conclusion of the projected period, LAMEA, which is currently in second place, is likely to accelerate its growth rate, followed by Europe. The AI CCTV market in Asia-Pacific is anticipated to grow significantly.
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This results from several factors, including growing safety and security of the public worries and a growing need for highly advanced monitoring equipment. Additionally, the AI CCTV market in China had the biggest market share, while the AI CCTV market in India had the quickest growth rate in the Asia-Pacific area. Additionally, it is projected that the construction sector in Asia-Pacific will increase, opening attractive opportunities.
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