AI CCTV Market to Reach USD 70.73 Billion by 2032 Driven by the Integration of AI Technologies that Improve Surveillance Efficiency and Effectiveness | SNS Insider

AI-enhanced CCTV systems offer superior capabilities such as real-time analytics, facial recognition, and automated threat detection, making them essential in residential, commercial, and industrial applications.

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Pune, Sept. 20, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Outlook:

The AI CCTV Market was valued at USD 19.95 billion in 2023 and is projected to reach USD 70.73 billion by 2032, growing at a CAGR of 15.12% from 2024 to 2032.

The expanding AI CCTV market growth is attributed to the increased need for technologically advanced surveillance systems across multiple sectors. Conventional cameras have been used for security purposes. However, the integration of artificial intelligence in the different systems has developed the application fully, enhancing their intelligence, effectiveness, and adaptability to sophisticated security requirements. Additionally, AI surveillance systems are more commonly used across multiple domains including the retail industry, healthcare, transportation sector, and government infrastructure, among many other industries. Notably, in the retail industry, AI-enabled cameras are used to study customer behavior in stores, their traffic, and theft cases.

In 2023, approximately, 70% of United States retail stores installed CCTV cameras and surveillance systems for both customer observation and security purposes. The systems have helped reduce theft rates by about 30%, making them fundamental in loss prevention. In addition, these cameras and systems are valued by approximately 60% of all shoppers who feel they are safer shopping from stores where they know somebody is watching.


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Dominant Industry Players Listed in this Research Report are:

  • Eagle Eye Networks (Eagle Eye Cloud VMS, Eagle Eye Camera Manager)
  • Axis Communications AB (Axis P32 Network Camera Series, Axis Camera Station)
  • D-Link Corporation (DCS-8526LH Full HD Pan & Tilt Pro Wi-Fi Camera, DCS-8302LH Full HD Outdoor Wi-Fi Camera)
  • Hangzhou Hikvision Digital Technology Co., Ltd. (DeepinMind NVR, Turbo HD Camera Series)
  • Panasonic Corporation (i-PRO X-Series Cameras, WV-SW458 Network Camera)
  • FLIR Systems, Inc. (FLIR FX Security Camera, FLIR Saros DH-390 Dome Camera)
  • VIVOTEK Inc. (IB9387-HT Bullet Network Camera, FD9167-HT Indoor Dome Camera)
  • Hanwha Techwin America (Wisenet P Series AI Cameras, Wisenet WAVE VMS)
  • Swann (Swann Enforcer 4K Ultra HD DVR, Swann Xtreem Wireless Security Camera)
  • Hikvision (DeepinView Series Cameras, AcuSense NVRs)
  • Dahua Technology (WizMind Cameras, AI-powered NVR)
  • Honeywell (MAXPRO NVR, Pro-Watch Video Management System)
  • Bosch Security Systems (Intelligent Video Analytics Cameras, DIVAR IP 6000)
  • Avigilon (a Motorola Solutions company) (H5A Camera Line, Avigilon Control Center)
  • Sony Corporation (6th Gen 4K AI Cameras, Edge Analytics Appliance)
  • CP Plus (AI-enabled Bullet Cameras, Intelligent VDP)
  • Cisco Meraki (MV22 Smart Camera, MV32 Fisheye Camera)
  • Tyco (Johnson Controls) (Illustra Pro Gen4 Cameras, exacqVision NVR)
  • Genetec (Omnicast Video Surveillance, Streamvault Appliances)
  • Pelco (Sarix Enhanced Cameras, VideoXpert VMS)
  • Mobotix (Mx6 Camera Line, MOBOTIX HUB VMS)
  • Uniview (UltraSmart Cameras, EZView VMS)
  • Fujitsu (AI-powered Surveillance Solutions, IP Surveillance Cameras)

AI CCTV Market Report Scope:

Report AttributesDetails
Market Size in 2023USD 19.95 Billion
Market Size by 2032USD 70.73 Billion
CAGRCAGR of 15.12% From 2024 to 2032
Base Year2023
Forecast Period2024-2032
Historical Data2020-2022
Key Drivers• Improved monitoring abilities achieved by integrating artificial intelligence.
• Enhancing public safety by using AI CCTV systems in modern surveillance.

Segment Analysis: Understanding Driving Factors and Emerging Trends

By Camera Type

In 2023, the dome camera dominated with 36% of the market share. Typically, these devices are used to monitor both indoors and outdoors in various commercial and public organizations, such as shopping malls, airports, offices, schools and universities, and others. Since the equipment is installed in fact in a relatively low location, the original design allows it to dissolve in shape, and people who are not supposed to be there sometimes do not notice the camera.

By Offering

In 2023, the software segment captured 41% of the market share and dominated the market. A high-class software solution incorporates the use of AI, ML, and analysis of the data in real-time, thus enabling instant processing and smart reaction. In conclusion, they can easily find deviations in the system, recognize people by their faces, and forecast possible security dangers to provide companies with valuable information.

By Deployment

The cloud segment led the market with 56% of the market share in 2023. This trend is boosted by the increasing need of the companies for convenient and adjustable security offers. In case of cloud surveillance, the company can easily access the video and store data as it does not require large investments in additional hardware.

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Key Market Segmentation:

By Camera Type

  • PTZ Camera
  • Dome Camera
  • Bullet Camera
  • Box Camera
  • Others

By Offering

  • Hardware
  • Software
  • Services

By Deployment

  • Cloud-based
  • On-premise

By End User

  • Residential
  • Commercial
  • Industrial

Navigating Regional Variations: Key Drivers and Challenges in Market Expansion

North America held a 35% market share in 2023 and dominated the market due to its early adoption of the latest surveillance technologies, robust infrastructure, and the implementation of AI strategies. Most of the grants invested in the U.S. and Canada to achieve this goal have been driven by the federal government. Companies use artificial intelligence CCTV systems to promote the well-being of their employees. The trend is also observed in other industries such as transportation, retail, and health care.

Asia-Pacific region is accounted to have the fastest growth rate during 2023-2032 and rising urbanization, increased government spending on smart city projects, and increased concern for public safety. AI surveillance is mostly conducted by China, Japan, and India, especially through the latter’s traffic control and city management. This region is fertile ground for the development and growth of AI CCTV technology.

Recent Developments in the market:

  • In January 2024, Hikvision announced the new series of AI-powered CCTV solutions to improve aspects such as facial recognition and motion detection.
  • In April 2024, Dahua Technology introduced a cloud-based surveillance solution to improve real-time monitoring and analytics.
  • In July 2024, Axis Communications announced its new line of PTZ cameras to meet the unique needs of industrial applications. This product is powered by the use of the most advanced artificial intelligence in the sector.

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Key Takeaways from the report:

  • The AI CCTV Market is set for robust growth, driven by technological advancements and increasing demand for security.
  • PTZ cameras are leading the market due to their versatility and effectiveness in various surveillance applications.
  • North America and Asia Pacific are pivotal regions, showcasing rapid growth and innovation in AI CCTV solutions.
  • Recent product launches highlight the industry's focus on enhancing security through AI integration, with companies investing heavily in research and development to maintain a competitive edge.

Key Points from Table Of Contents

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 AI CCTV Key Vendors and Feature Analysis, 2023

5.2 AI CCTV Performance Benchmarks, 2023

5.3 AI CCTV Integration Capabilities, by Software

5.4 Usage Statistics, 2023

6.  Competitive Landscape

7. AI CCTV Market Segmentation, by Camera Type

8. AI CCTV Market Segmentation, by Offering

9. AI CCTV Market Segmentation, by Deployment

10. AI CCTV Market Segmentation, By End User

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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