Dublin, Aug. 17, 2022 (GLOBE NEWSWIRE) -- The "AI CCTV Market by Offering, by Camera Type, by Deployment, and by End-user - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The AI CCTV Market size was valued at USD 14.99 billion in 2021, and is expected to reach USD 51.95 billion by 2030, with a CAGR of 14.7% from 2022 to 2030.
AI CCTVs are the cameras that are embedded with artificial intelligence (AI) technology for vehicle detection, face detection, person detection, and people counting. One of the important advantages of using AI CCTV is that it won't require an internet connection. AI can be added to old CCTV systems, and can also be installed as 100% new systems.
Also, the 'AI layer' can be added at various points of the technology stack - at camera-level, NVR-level or at a cloud-level. It is integrated with an AI chip for micro-processing and enhancing advanced analytical functions. Moreover, the recordings that are carried out in AI CCTV can be directly transferred to a Digital Video Recorder (DVR). These recordings are further used in different sectors for various activities such as detection of criminal activities and monitoring home security.
Market Dynamics and Trends
The demand for AI CCTV is increasing due to rising demand of technically advanced surveillance system. The adoption of advanced technologies to improve the quality of images and videos at traffic signals for detecting and recognizing license plates of moving or stationary vehicles are expected to support the growth of the global AI CCTV market.
AI-based CCTVs can process every frame, present real-time analysis, and review the incidents captured in the camera. It will further indulge in enhancing road infrastructure, better collection and analysis of crash data, and increasing the efficiency of post-crash response. This factor is expected to further propel the growth of AI CCTV market during the forecast period.
However, surge in the prices of AI CCTV along with rising number of cyberattacks on internet-connected CCTV cameras are expected to restrain the market during the forecast period. On the contrary, rising demand from smart cities for security purposes is expected to create ample growth opportunities for the market in the coming years.
Market Segmentations and Scope of the Study:
The global AI CCTV market is segmented on the basis of offering, camera type, deployment, end user, and geography. On the basis of offering, the market is divided into hardware, software, and services. On the basis of camera type, the market is segmented into PTZ camera, dome camera, bullet camera, box camera, and others.
On the basis of deployment, the market is bifurcated into cloud-based and on-premise. On the basis of end user, the market is divided into residential, commercial, and industrial. Geographic breakdown and analysis of each of the aforesaid segments includes regions such as North America, Europe, Asia-Pacific, and Row.
Geographical Analysis
North America holds the major share of global AI CCTV market at present and is expected to continue its dominance during the forecast period. This is attributed to factors such as high use of AI CCTV devices for maintaining personal and domestic security.
Also, the integration of artificial intelligence with CCTV brought many changes such as clear recognition of humans, vehicles, and objects. This factor further drives the market growth in the region. In addition, the rise in the demand of AI CCTV by security professionals for adopting AI surveillance technologies to map, track, and locate people are further expected to drive the growth of market.
Additionally, Asia-pacific is expected to show a steady rise in the market. This is attributed to factors such as increasing per capita income and high standard of living of general population which results in use of AI CCTV cameras for their personal use in home, factories and offices for security purposes. Moreover, recent developments in terrorist activities have also compelled the government authorities to opt for AI CCTV cameras for surveillance purposes.
Also, the presence of major key players such as D-Link Corporation and Hangzhou Hikvision Digital Technology Co., Ltd are adopting various product launches to boost its market presence in this region. For instance, in February 2021, D-Link Corporation launched its DCS-8300LHV2 Full HD Wi-Fi Camera.
This camera contains an AI-based person detection feature which is able to determine human motion, lower down false alarms, and provide important alerts to users. In addition, there is a high demand for AI CCTVs in airports and railway stations with growing threats of terrorism. Moreover, the growing demand for advanced camera systems from several end user industries such as automotive and telecom are further expected to drive the market growth in this region.
Competitive Landscape
Various market players operating in the global AI CCTV market include Axis Communications AB, Bosch Security Systems, D-Link Corporation, Eagle Eye Networks, Hangzhou Hikvision Digital Technology Co., Ltd., Hanwha Techwin America, Panasonic Corporation, Swann, FLIR Systems, Inc., and Huawei. These market players are adopting various strategies including joint venture and expansion of businesses across different regions to maintain their dominance in the AI CCTV Market.
For instance, in March 2022, Axis Communications and Irisity AB (publ) announced that they will offer an end-to-end video surveillance solution that is AI-driven and based on Axis camera station, Axis IP cameras, Irisitys IRIS, and AI video analytics software.
It will increase the security levels and safety by offering automated real-time detection of events and rapid search with the help of recorded videos to assist in investigations. Also, in March 2021, Eagle Eye Networks, one of the leading players in cloud video surveillance, launched Eagle Eye LPR (license plate recognition). It utilizes AI in a cloud-based system for achieving a high level of accuracy in different types of challenging conditions.
Key Topics Covered:
1. Introduction
2. AI CCTV Market - Executive Summary
3. Market Overview
3.1. Market Definition and Scope
3.2. Market Dynamics
4. Covid-19 Impact Analysis
4.1. Covid-19 Outbreak
4.2. Impact on Market Size
4.3. Parent Industry Impact
4.4. Key Player Strategies to Tackle Negative Impact
5. Market Share Analysis
5.1. Market Share Analysis of Top AI CCTV Providers, 2021
6. Global AI CCTV Market, by Offering
6.1. Overview
6.2. Hardware
6.3. Software
6.4. Services
7. Global AI CCTV Market, by Camera Type
7.1. Overview
7.2. Ptz Camera
7.3. Dome Camera
7.4. Bullet Camera
7.5. Box Camera
7.6. Other Types
8. Global AI CCTV Market, by Deployment
8.1. Overview
8.2. Cloud-Based
8.3. On-Premise
9. Global AI CCTV Market, by End-user
9.1. Overview
9.2. Residential
9.3. Commercial
9.4. Industrial
10. Global AI CCTV Market, by Region
10.1. Overview
10.2. North America
10.3. Europe
10.4. Asia-Pacific
10.5. Rest of World
11. Company Profiles
11.1. Axis Communications Ab
11.2. Bosch Security Systems Inc. (Robert Bosch Gnbh)
11.3. D-Link Corporation
11.4. Eage Eye Networks
11.5. Hangzhou Hikvision Digital Technology Co. Ltd.
11.6. Hanwha Techwin
11.7. Panasonic Corporation
11.8. Swann
11.9. Flir Systems, Inc.
11.10. Vivotek Inc.
For more information about this report visit https://www.researchandmarkets.com/r/bl5dk8
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