Market Overview:

In 2022, the market for AI in video surveillance was estimated to be worth USD 5.2 billion. The market for artificial intelligence (AI) in video surveillance is expected to expand at a compound annual growth rate (CAGR) of 15.30% between 2023 and 2032, from USD 5.99 billion in 2023 to USD 18.726 billion. The two main market drivers driving the expansion of the video surveillance sector are government goals to create smart cities and the increasing need for real-time data for commercial applications.

Advances in computer vision and deep learning are driving the usage of Al in the video surveillance business. Deep learning, a type of machine learning, has revolutionised computer vision by enabling the development of incredibly accurate and efficient algorithms for processing visual data. In order to facilitate fast and accurate identification of objects, events, and anomalies, deep learning algorithms are able to analyse video streams in real time for video surveillance. For example, they are able to track the movements of objects, such as cars, people, or weapons, and classify their actions. Advances in deep learning have also improved the accuracy and consistency of facial recognition technologies, enabling more dependable identification and authentication in applications related to video surveillance. Consequently, generating revenue in the video surveillance market for AI.

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The market for artificial intelligence in video surveillance is being targeted by major firms that are investing in R&D to try and drive demand.

Hangzhou Hikvision Digital Technology Co., Ltd. (China),

Dahua Technology Co., Ltd. (China),

Avigilon Corporation (Canada),

Milestone Systems A/S (Denmark),

YITU Tech (China),

SenseTime (China),

Agent Video Intelligence Ltd. (US).

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Segment Insights

Based on vertical market segmentation, the AI in video surveillance market is divided into the following categories: commercial, residential, infrastructure, military and defence, public facilities, and industrial. The market was dominated by the infrastructure sector.

Hardware, software, and services are included in the segmentation of the video surveillance market by AI based on offerings. The market was dominated by the hardware category.

On-premises and cloud-based deployment modes are included in the segmentation of the video surveillance market by artificial intelligence. The segment with cloud-based products made the most money.

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Regional Analysis:

The report offers market information for North America, Europe, Asia-Pacific, and the rest of the world, broken down by region. Due to the growing demand for advanced security solutions and the need for efficient monitoring in a dynamic threat environment, the North American AI market for video surveillance is expected to dominate. Real-time object recognition, behaviour analysis, and anomaly detection made possible by AI technology have revolutionised video surveillance systems. These advancements fortify security protocols throughout numerous sectors, such as transportation, public safety, retail, and essential infrastructure. These innovations open up the possibility of proactive surveillance.

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