Market Overview

The AI in Video Surveillance market refers to the application of artificial intelligence (AI) technologies in video surveillance systems. AI-powered video surveillance solutions utilize advanced algorithms to analyze video footage and extract valuable insights, enhancing security and enabling proactive monitoring.

The AI in video surveillance market in 2023 is USD 5.6 billion, with an estimated increase to USD 16.3 billion by 2028. This market is anticipated to experience a compound annual growth rate (CAGR) of 23.7% from 2023 to 2028. The increasing demand for technologically advanced surveillance systems and the rise in concerns about public safety and security are the major factors driving the growth of the market.

Here are some of the key takeaways from the AI in video surveillance market:

  • The hardware segment is expected to hold the largest market share during the forecast period.
  • The facial recognition segment is expected to grow at the highest CAGR during the forecast period.
  • The government segment is expected to hold the largest market share during the forecast period.
  • North America is expected to hold the largest market share during the forecast period.

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AI in video surveillance market

Largest and Fastest Growing Market

The largest markets for AI in Video Surveillance are currently the United States, China, and Japan. These countries have a high demand for security solutions and robust technological infrastructure. However, emerging economies such as India, Brazil, and Mexico are expected to witness the fastest growth due to increasing investments in infrastructure development and security systems.

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Revenue Share by Country in 2023:

The United States is expected to account for 31% of the global AI in video surveillance market revenue in 2023.

China is expected to account for 22% of the global AI in video surveillance market revenue in 2023.

  • Largest Markets Worldwide:
    • North America
    • Europe
    • Asia Pacific
  • Top Importing Countries:
    • United States
    • China
    • Germany
  • Top Exporting Countries:
    • China
    • United States
    • Japan

Market Dynamics

Drivers

  1. Enhanced security and safety requirements
  2. Advancements in AI technology
  3. Government initiatives for smart city development
  4. Integration with IoT and cloud computing
  5. Cost reduction through automation

Restraints

  1. Privacy concerns and regulations
  2. High implementation and maintenance costs
  3. Lack of skilled professionals in AI and video analytics
  4. Ethical considerations related to facial recognition and behavioral analysis
  5. Limited interoperability among different video surveillance systems

Challenges

  1. Ensuring data privacy and protection
  2. Overcoming technical limitations for accurate video analytics
  3. Addressing biases and errors in AI algorithms
  4. Achieving real-time processing and response capabilities
  5. Adapting to changing regulations and compliance requirements

Top Key Players

  • 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)
  • NEC Corporation (Japan)
  • Megvii (China)
  • Genetec Inc. (Canada)
  • CloudWalk Technology Co. Ltd. (China)
  • BriefCam (US)
  • Intellivix Co. Ltd. (South Korea)
  • Corsight AI (Israel)
  • Ipsotek Ltd. (UK) and Sensen.ai (Australia) (A total of 25+ players are profiled)

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Market Segmentation

By Offering

  • Hardware
  • Software
  • Service

By Deployment Mode

  • On-premises
  • Cloud-based

By Use Cases

  • Gun Detection
  • Industrial Temperature Monitoring
  • Anomaly detection and Behavior Recognition
  • Facial recognition/Person search
  • Object detection and tracking
  • Intrusion detection and perimeter protection
  • Smoke and Fire Detection
  • Traffic Flow Analysis/ Accident and Traffic Incident Detection
  • False alarm filtering
  • Parking Monitoring
  • Vehicle Identification and Numberplate Recognition

By Vertical

  • Commercial
  • Residential
  • Infrastructure
  • Military & Defense
  • Public Facility
  • Industrial

By Region

  • North America
  • Europe
  • Asia Pacific
  • RoW

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