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.
Get a Sample Report of AI CCTV Market (With Graphs and TOC) @ https://www.snsinsider.com/sample-request/1252
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 Attributes | Details |
| Market Size in 2023 | USD 19.95 Billion |
| Market Size by 2032 | USD 70.73 Billion |
| CAGR | CAGR of 15.12% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| 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.
Do you Have any Specific Queries or Need any Customize Research on AI CCTV Market, Enquiry Now @ https://www.snsinsider.com/enquiry/1252
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.
Buy Enterprise User PDF of Global AI CCTV Market Report at USD 5350 (40% Discount) @ https://www.snsinsider.com/checkout/1252
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
Access Complete Report Insights of AI CCTV Market Growth & Outlook 2024-2032@ https://www.snsinsider.com/reports/ai-cctv-market-1252
[For more information or need any customization research mail us at info@snsinsider.com]
SNS Insider Offering/Consulting Services:
Go To Market Assessment Service
Total Addressable Market (TAM) Assessment
Competitive Benchmarking and Market Share Gain
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
