Artificial Intelligence (AI) in Video Surveillance Global Market Report 2024

The AI in video surveillance market size has grown exponentially in recent years. It will grow from $4.64 billion in 2023 to $5.63 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The growth observed in the historical period can be attributed to several factors, including the escalation of security threats, advancements in AI and machine learning technologies, a heightened demand for real-time monitoring, the pursuit of cost-effective solutions, and the integration of systems with IoT devices.

The AI in video surveillance market size is expected to see exponential growth in the next few years. It will grow to $12.04 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The anticipated growth in the forecast period can be attributed to several factors, including government regulations, the implementation of smart city initiatives, the expansion of remote monitoring capabilities, industry-specific applications, and the increasing adoption of cloud-based solutions. Notable trends expected in the forecast period encompass the utilization of edge computing for AI, advanced analytics, the prevalence of cloud-based video surveillance, the integration of deep learning algorithms, and the emphasis on real-time alerts and automation.

The surge in smart city initiatives is anticipated to drive the expansion of artificial intelligence (AI) within the video surveillance market in the coming years. Smart city initiatives encompass the utilization of technology, data, and innovation to enhance the quality of life, sustainability, and efficiency of urban environments. These initiatives play a pivotal role in augmenting the capabilities of AI in video surveillance through the establishment of connected infrastructure and the availability of vast data pools for analysis. For example, data from the Ministry of Housing and Urban Affairs in India revealed significant progress in the Smart Cities Mission, with 5,005 projects completed amounting to $11.161 billion, while 2,737 projects worth $10.684 billion are in advanced stages of implementation as of December 2022. Additionally, 1,707 projects worth $4.422 billion were completed in the current year alone, underscoring the momentum of smart city initiatives. Consequently, the proliferation of smart city endeavors serves as a catalyst for the growth of AI in the video surveillance market.

Leading enterprises in the artificial intelligence (AI) segment of the video surveillance market are innovating with products such as AWS Panorama appliances to optimize operations and reduce costs by leveraging existing on-premises cameras for computer vision applications. The AWS Panorama Appliance represents a device facilitating the deployment of self-contained computer vision applications at the edge, obviating the need to transmit images to the AWS Cloud. For instance, in October 2021, Amazon Web Services unveiled the AWS Panorama Appliance, an edge computing hardware box embedded with AI capabilities for analyzing video streams from security cameras and delivering actionable analytics insights. This Appliance can concurrently run multiple computer vision models against multiple video streams and is tailored for commercial and industrial settings, boasting ratings for dust and liquid resistance. By seamlessly integrating with other AWS services, customers can track application data over time. Furthermore, the Appliance seamlessly integrates with Amazon SageMaker, empowering users to develop and deploy computer vision models with ease.

In June 2023, Becklar, a prominent US-based provider of connected safety monitoring platforms, completed the acquisition of Eyeforce Inc. for an undisclosed sum. This strategic move positions Becklar to broaden its offerings in video surveillance and remote guarding solutions, signaling a concerted effort to bolster its AI capabilities within the video surveillance market. The integration of Eyeforce's expertise enables Becklar to rapidly advance its technological and process innovations in this sector. Eyeforce Inc., renowned for its wholesale video surveillance, AI or machine learning analytics, and live audio operator response intervention through remote guarding, aligns seamlessly with Becklar's vision for pioneering advancements in safety and security technologies.

Major companies operating in the artificial intelligence (ai) in video surveillance market report are Huawei Technologies Co. Ltd., Panasonic Holdings Corporation, Hanwha Group, Honeywell International Inc., Dahua Technology Co. Ltd., NEC Corporation, IntelliVision, ZTE Corporation, Hangzhou Hikvision Digital Technology Co. Ltd., Cisco Meraki, Avigilon Corporation, SenseTime, Genetec Inc., Milestone Systems A/S, CloudWalk Technology Co. Ltd., Eagle Eye Networks, Gorilla Technology, Clarifai, Corsight AI, YITU Tech, Agent Video Intelligence Ltd., Pure Tech Systems, Simshine Intelligent Technology Co.Ltd.

Asia-Pacific was the largest region in the AI in video surveillance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (ai) in video surveillance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the artificial intelligence (ai) in video surveillance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Artificial intelligence (AI) in video surveillance involves the application of AI algorithms and technologies to analyze video data captured by surveillance cameras. These AI-powered systems are designed to automatically detect and recognize objects, people, or activities within the video footage. This capability enhances the efficiency and effectiveness of monitoring and analyzing security and surveillance environments.

The primary components of artificial intelligence (AI) in video surveillance include hardware, software, and services. These offerings are deployed in on-premises and cloud modes, catering to various use cases such as gun detection, industrial temperature monitoring, anomaly detection, behavior recognition, facial recognition or person search, object detection, perimeter protection, intrusion detection, smoke and fire detection, traffic flow analysis, accident and traffic incident detection, false alarm filtering, and other applications. These solutions find application across commercial, residential, infrastructure, military and defense, public facilities, and industrial verticals.

The artificial intelligence (AI) in video surveillance market research report is one of a series of new reports that provides artificial intelligence (AI) in video surveillance market statistics, including artificial intelligence (AI) in video surveillance industry global market size, regional shares, competitors with an artificial intelligence (AI) in video surveillance market share, detailed artificial intelligence (AI) in video surveillance market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence (AI) in video surveillance industry. This artificial intelligence (AI) in video surveillance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The artificial intelligence (AI) in video surveillance market consists of revenues earned by entities by providing services such as video analytics, surveillance system integration, custom AI solutions, and cloud-based video surveillance. The market value includes the value of related goods sold by the service provider or included within the service offering. The artificial intelligence (AI) in video surveillance market also includes sales of AI-powered cameras, deep learning-based video recorders, and cloud-based video surveillance devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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