Dublin, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The "Global AI in Video Surveillance Market 2023-2028" report has been added to ResearchAndMarkets.com's offering.
Enter the realm of AI-powered video surveillance, where technology converges with security to create a safer, more efficient world. Explore the dynamics, drivers, and transformative potential of this market as it navigates a path towards growth, efficiency, and enhanced security.
The global AI in video surveillance market is poised for exponential growth, projected to be valued at USD 5.6 billion in 2023 and anticipated to reach USD 16.3 billion by 2028, with an impressive Compound Annual Growth Rate (CAGR) of 23.7% during 2023-2028. The catalyst for this growth is the surging demand for advanced video analytics, driven by the quest for more efficient and accurate surveillance capabilities.
Unlocking Intelligence: Transitioning from Reactive to Proactive Security
AI-powered systems have the potential to revolutionize video surveillance, transforming it from a reactive and labor-intensive process into a proactive and intelligent security solution. By harnessing the power of Artificial Intelligence, video analytics offer actionable insights extracted from video feeds. This enables the identification of patterns, trends, and anomalies, facilitating operational decision-making, optimized resource allocation, and refined security strategies.
Sector-Specific Insights: From Retail to Transportation
In the retail sector, AI-driven video analytics tracks customer behavior, footfall analysis, and dwell times, enabling the optimization of store layouts, improving customer experiences, and enhancing loss prevention efforts. In transportation, these analytics are indispensable for traffic management, crowd monitoring, and anomaly detection. This technology is permeating various sectors, propelling growth and efficiency.
Infrastructure's Role: A Safer Tomorrow
The infrastructure sector holds significant potential for AI in video surveillance. Collaborations between technology giants and transportation authorities yield sophisticated video surveillance systems. These systems utilize AI algorithms for real-time traffic monitoring, accident detection, and license plate recognition. In city surveillance projects, AI-powered video analytics identify crowd patterns, monitor public spaces, and enhance emergency response capabilities, ensuring safer environments for all.
North America's Vigilance: A Beacon of Adoption
North America emerges as a key adopter of AI in video surveillance, driven by a growing demand for advanced security solutions and the imperative of efficient monitoring in an evolving threat landscape. AI technology revolutionizes video surveillance systems, enabling real-time object recognition, behavior analysis, and anomaly detection. These advancements empower proactive surveillance, bolstering security measures across sectors like public safety, transportation, retail, and critical infrastructure.
Insights and Innovations: Delving Deeper
This report delves into the AI in video surveillance market, covering offering categories (hardware, software, services), deployment modes (on-premises, cloud-based), verticals (commercial, infrastructure, military & defense, residential, public facility, industrial), and regions (North America, Europe, Asia Pacific, and RoW). Comprehensive insights are provided into key factors influencing the market's growth, such as drivers, restraints, challenges, and opportunities.
Key Players: Pioneering the Future
Leading the charge in the AI in video surveillance market are industry giants such as Hangzhou Hikvision Digital Technology Co., Ltd., Dahua Technology Co., Ltd., Avigilon Corporation, Milestone Systems A/S, YITU Tech, SenseTime, and Agent Video Intelligence Ltd. These players are shaping the market landscape through innovative products, strategic partnerships, and transformative technologies.
Embrace the future of security, where intelligence meets surveillance, and efficiency meets safety. The AI in video surveillance market is poised to redefine security protocols, shape operational landscapes, and create a world that's safer, smarter, and more secure.
Premium Insights
- Increasing Need for Real-Time Surveillance Data to Drive Market
- US and On-Premises Segment to Hold Largest Share of North American AI in Video Surveillance Market in 2023
- China to Hold Largest Share of AI in Video Surveillance Market in 2028
- AI in Video Surveillance Market in China to Grow at Highest CAGR from 2023 to 2028
Market Dynamics
- Drivers
- Increasing Demand for Intelligent Security Systems
- Rapid Advancements in Deep Learning and Computer Vision Technologies
- Pressing Need to Protect Critical Infrastructure from Terrorist Attacks
- Restraints
- Privacy and Security Issues in AI-Powered Systems
- High Initial Investment and Implementation Costs
- Lack of Standardization and Protocols
- Opportunities
- Integration of AI with IoT and Other Emerging Technologies
- Rising Deployment of AI in Smart City Initiatives
- Extensive Application Scope in Retail and Transportation Sectors
- Increasing Investments in Generative AI Technologies in Asia-Pacific
- Challenges
- Data Breach Caused by Misuse and Mishandling of Data
- Data Inaccuracy and Reliability Issues in Video Analytics
Case Study Analysis
- Deployment of Advanced Analytics Surveillance System to Enhance Public Safety
- Agentvi Introduced AI-Powered Solution to Stop Retail Pushout Theft
- Dahua Technology Released Traffic Management and Congestion Solution to Ensure Improved Traffic Flow
- Hikvision Introduced Facial Recognition Technology for Access Control
- Bosch Security Systems Released Perimeter Security and Intrusion Detection Solution to Minimize Security Breaches
Technology Analysis
- Key Technologies
- Computer Vision
- Deep Learning
- Facial Recognition
- Complementary Technologies
- Internet of Things (IoT)
- Cloud Computing
- Adjacent Technologies
- Natural Language Processing (NLP)
- Sensor Fusion
Regulatory Landscape
- Regulatory Bodies, Government Agencies, and Other Organizations
- Standards and Regulations Imposed in AI in Video Surveillance Market
- Key Conferences and Events, 2023-2024
Other Key Insights
- Value Chain Analysis
- Market Ecosystem
- Porter's Five Forces Analysis
- Average Selling Price Analysis
- Key Stakeholders and Buying Criteria
- Trends/Disruptions Impacting Customer Business
- Patent Analysis
- Trade Analysis
- Tariff Analysis
Companies Profiled
- Key Players
- Hangzhou Hikvision Digital Technology Co. Ltd.
- Zhejiang Dahua Technology Co. Ltd.
- Avigilon Corporation (Motorola Solutions Inc.)
- Milestone Systems A/S
- Yitu Tech
- Sensetime
- Agent Video Intelligence Ltd.
- NEC Corporation
- Megvii (Beijing) Technology Co. Ltd.
- Genetec Inc.
- Cloudwalk Technology Co. Ltd.
- Briefcam
- Intellivix Co. Ltd.
- Corsight AI
- Ipsotek Ltd.
- Sensen.AI
- Other Players
- Vivotek Inc.
- Mobotix AG
- Verkada Inc.
- Morphean SA
- Axis Communications AB
- Bosch Sicherheitssysteme GmbH
- Honeywell International Inc.
- Panasonic Holdings Corporation
- Huawei Technologies Co. Ltd.
- Teledyne Technologies Incorporated
- Hanwha Vision Co. Ltd.
- Camcloud
- Ivideon
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 AI in Video Surveillance Market, by Use Case
7 AI in Video Surveillance Market, by Offering
8 AI in Video Surveillance Market, by Deployment Mode
9 AI in Video Surveillance Market, by Vertical
10 AI in Video Surveillance Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/oh7uo1
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