AI in Video Surveillance Market

AI in Video Surveillance Market Outlook from 2024 to 2034

The AI in video surveillance market is projected to be valued at USD 5.7 billion in 2024 and is expected to rise to USD 47.0 billion by 2034. The global AI in video surveillance market is expected to grow at a CAGR of 23.6% during the forecast period.

The demand for AI in video surveillance is increasing due to its ability to enhance efficiency, accuracy, and proactive threat detection in monitoring and analyzing vast amounts of video data.

Key Market Drivers

• The integration of AI technology enhances the accuracy and complexity of video analytics, allowing for the recognition and interpretation of intricate patterns and behaviors, driving the market.
• The need to detect potential threats in real time, reduce response time and enhance overall security is boosting the demand for AI-powered video surveillance. Automating video monitoring tasks through AI reduces the need for extensive human intervention, leading to significant cost savings in surveillance operations.
• The requirement for efficiently handling large amounts of video data is driving the demand for AI systems to provide a scalable solution for expansive surveillance networks.
• The integration with the Internet of Things (IoT) allows for a more comprehensive approach to surveillance, incorporating data from various sources for a more holistic security strategy.
• Continued advancements in deep learning algorithms improve AI's ability to recognize and analyze complex visual patterns, leading to more accurate and efficient surveillance.
• AI can address privacy concerns by implementing features like anonymization and selective data processing, ensuring a balance between security and individual privacy. This is stimulating growth in the market.

Attributes	Key Statistics
AI in Video Surveillance Market Value (2024)	USD 5.7 billion
Anticipated Market Value (2034)	USD 47.0 billion
Estimated Growth (2024 to 2034)	23.6% CAGR

Trend Analysis of the AI in Video Surveillance Market

• The trend for AI in video surveillance leads to higher sales and widespread adoption of AI technology in the surveillance industry.
• Businesses and organizations seek more sophisticated and efficient security solutions that offer real-time threat detection, enhanced video analytics, and scalable surveillance systems.
• AI-powered video surveillance is highly preferred because it can automate tasks, analyze complex patterns, and provide more accurate and timely information.
• Companies are investing in cutting-edge AI-powered video surveillance systems to bolster their security infrastructure, increasing sales of such solutions. These systems can provide traditional security measures and advanced features like behavioral analysis, anomaly detection, and integration with other technologies.
• The adoption of AI in Video Surveillance is widespread across various industries, including retail, transportation, banking, and smart cities.
• Businesses are integrating AI technologies into their surveillance systems to stay ahead in threat detection, monitor large-scale environments, and comply with evolving regulatory requirements.
• The versatility and scalability of AI technology, along with its ability to offer business intelligence insights and facilitate remote monitoring and management, have made it increasingly popular in the Video Surveillance market.

Factors Adversely Affecting the AI in Video Surveillance Market

The market is experiencing growth, though several restraining factors can adversely affect its development and expansion.

• The significant expenses in implementing AI-powered video surveillance systems, including hardware, software, and training, may deter budget-constrained businesses from adopting this technology.
• Growing concerns regarding the security and privacy of video data raise regulatory challenges, limiting the widespread adoption of AI in video surveillance due to fears of unauthorized access, data breaches, and potential misuse.
• The need for more professionals with expertise in AI and video surveillance technologies may hinder the effective deployment and maintenance of AI systems, slowing down market growth.
• Integrating AI technologies with existing video surveillance infrastructure can be complex and require substantial modifications, posing challenges for organizations seeking a seamless transition to AI-enhanced systems.
• Resistance to adopting new technologies and a preference for traditional surveillance methods can hinder the widespread acceptance of AI in video surveillance among certain industries or regions.
• Perceptions of AI system unreliability or false positives/negatives in threat detection may deter some organizations from fully trusting and embracing AI-powered video surveillance solutions.

Category-wise Insights 

Increasing Importance of Edge Computing in Surveillance Applications

Attributes	Details
Offerings	Hardware
CAGR (2024 to 2034)	23.4%

The hardware segment dominates the AI in the video surveillance market, growing at a CAGR of 23.4% through 2034. This rising popularity is attributed to:

• AI algorithms, particularly deep learning models used for image and video analysis, have demanding computational requirements.
• Dedicated hardware accelerators, such as GPUs and TPUs, enhance these algorithms' efficiency and processing speed, enabling faster real-time analysis and response.
• The demand for edge computing in video surveillance has increased, leading to specialized hardware at the edge that processes data locally without relying heavily on centralized cloud resources.
• Edge devices with AI-dedicated hardware allow quicker decision-making and reduced latency, improving bandwidth efficiency.

On-premises Provides Better Control and Security over Sensitive Video Data

Attributes	Details
Deployment Mode	On-premises
CAGR (2024 to 2034)	23.1%

Based on the deployment mode, On-premises dominates the global AI in video surveillance market with an annual growth of 23.1% CAGR. This rising popularity is attributed to:

• On-premises deployment mode also ensures compliance with data protection standards, which is crucial for sectors with strict regulatory compliance requirements.
• On-premises deployment offers lower latency and faster processing speeds for real-time video analysis, essential for proactive threat detection and effective security measures.
• Organizations can achieve faster decision-making without relying on external cloud services by processing AI algorithms locally on on-premises servers or edge devices.

Country-wise Insights

The section analyzes the AI in video surveillance market by country, including the United States, the United Kingdom, China, Japan, and South Korea. The table presents the CAGRs for each country through 2034.

Countries	CAGR through 2034
United States	23.8%
United Kingdom	24.1%
China	24.4%
Japan	25.0%
South Korea	24.8%

Korean Combination of Technological Prowess and Government Support

South Korea is the leading Asian country in the market. The Korean AI in video surveillance market is expected to register an annual growth rate of 24.8% until 2034.

• Korean companies are at the forefront of developing AI-based video analytics and surveillance solutions.
• The government's initiatives to create safer cities and enhance public security have led to increased investments in AI-powered video surveillance.
• South Korea's focus on smart city development and advancements in facial recognition technology contribute to the growing adoption of AI in video surveillance for both public and private applications.

Dedication to Technological Innovation and Security Enhancement in Japan

Japan is another Asian country leading in the AI in video surveillance market. The Japanese market is anticipated to register a CAGR of 25.0% through 2034.

• Japanese companies are actively developing AI algorithms and video analytics solutions for public safety, transportation, and critical infrastructure monitoring applications.
• The Japanese government's focus on leveraging AI for disaster management and response further fuels the adoption of advanced video surveillance technologies.
• With a strong emphasis on research and development, Japan plays a significant role in shaping the future of AI-powered video surveillance in the Asia-Pacific region.

Chinese Government's Support For Smart City Projects And Public Security Initiatives

China is another Asian country in the global AI in video surveillance market, which is anticipated to register a CAGR of 24.4% through 2034.

• Chinese companies lead in developing AI algorithms and surveillance hardware, focusing on facial recognition and behavior analysis.
• The Chinese government's support for smart city projects and public security initiatives has resulted in the deployment of AI in video surveillance on a massive scale.
• China's integration of AI technologies into public spaces, transportation, and law enforcement reflects its commitment to using AI for comprehensive surveillance solutions.

The United Kingdom’s Cutting-edge Technologies to Address Security Challenges

The United Kingdom is a European country leading the AI in video surveillance market. Its market is predicted to register an annual growth rate of 24.1%.

• The UK's government and private sectors invest in AI solutions to improve public safety, monitor critical infrastructure, and enhance overall security measures.
• The country's focus on smart city initiatives further drives the adoption of AI in video surveillance for urban planning and law enforcement.
• With a well-established surveillance infrastructure and a commitment to technological advancements, the UK plays a significant role in shaping Europe's AI-driven video surveillance market.

Growing Emphasis on National Security in the United States Driving Market Growth

The United States dominates the AI in video surveillance market in the North American region. It is expected to exhibit an annual growth rate of 23.8% until 2034.

• Leading tech companies in the United States are at the forefront of developing advanced AI algorithms and hardware solutions for video analytics.
• Government agencies, law enforcement, and private enterprises are all increasingly adopting AI-powered video surveillance for enhanced threat detection and public safety.
• Additionally, favorable regulatory environments and a proactive approach to integrating AI technologies into security infrastructure contribute to the market's expansion.

Competitive Landscape

The global AI in video surveillance market is highly fragmented, with key players such as 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. (United States), etc.

Hikvision, a Chinese company, has become a global video surveillance and AI technologies leader. Its expertise lies in developing AI-powered cameras, video analytics software, and integrated solutions that offer real-time threat detection, facial recognition, and behavior analysis.

NVIDIA Corporation, a leading American technology company, has contributed to the market's growth through its graphics processing units (GPUs) and AI hardware solutions. The company's platforms, such as NVIDIA Metropolis, provide a foundation for building AI-powered video analytics applications that enable efficient processing and analysis of vast amounts of video data.

Recent Developments

• On January 22, 2023, Atul Rai, CEO of Staqu Technologies, revealed that their AI-powered JARVIS platform had been installed in cameras surrounding Ayodhya Ram Mandir, enhancing security through innovative surveillance.
• On November 21, 2023, I-PRO unveiled the X Series technology, elevating video surveillance with advanced analytics. The AI-enabled cameras offered a cost-effective solution, revolutionizing deployments for enhanced capabilities.
• On June 2, 2023, ABI Research reported that recent AI and edge computing advancements energized the commercial video surveillance market. These technologies propelled the global installed base of video surveillance cameras to 1.2 billion by 2030.

Key Companies in the Market

• 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. (United States)

Market Segmentation

By Offering:

• Hardware
• Software
• Services

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:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• Latin America

Frequently Asked Questions

How Big is the AI in Video Surveillance Market?

The AI in video surveillance market is expected to be worth USD 5.7 billion in 2024.

What is the Sales Forecast for the AI in Video Surveillance Market by 2034?

The market is expected to reach USD 47.0 billion by 2034.

At What Rate is the AI in Video Surveillance Market Growing through 2034?

The AI in video surveillance market is expected to grow at a CAGR of 23.6% from 2024 to 2034.

Which are the Key Companies in the AI in Video Surveillance Market?

Some key players in the market are Hangzhou Hikvision Digital Technology Co., Ltd., Dahua Technology Co., Ltd., Avigilon Corporation, Milestone Systems A/S, YITU Tech, SenseTime, Agent Video Intelligence Ltd., etc.

Which is the Top Segment in the AI in Video Surveillance Market?

The hardware segment is expected to lead the market, expanding at a 23.4% CAGR over the forecast period.