The global AI CCTV market size was valued at $14.83 billion in 2020, and is projected to reach $55.22 billion by 2030, registering a CAGR of 14.9% from 2021 to 2030.
AI CCTV is an electronic device, which integrates a layer of AI (Artificial Intelligence) to camera technology. The AI layer is generally added at different points of the technology stack, that is, at NVR (network video recorder) level, camera-level, or at a cloud-level.
The global AI CCTV market revenue is anticipated to witness significant growth over the forecast period. This is attributed to factors such as increase in demand for technically advanced surveillance system and rise in concerns related to public safety & security. In addition, surge in use of AI CCTV at traffic signals by government agencies to detect & recognize license plates on moving or stationary vehicles boosts the overall market growth. However, lack of awareness about advanced products is a major restraint to the global industry. Moreover, growth of the infrastructure sector in Asia-Pacific is anticipated to create lucrative opportunities for the artificial intelligence based CCTV industry.
The global AI CCTV market share is segmented on the basis of offering, camera type, deployment, end user, and region. By offering, the market is categorized into hardware, software, and services. On the basis of camera type, it is fragmented into PTZ camera, dome camera, bullet camera, box camera, and others. By deployment, the market is bifurcated into cloud-based and on-premise. By end user, it is divided into residential, commercial, and industrial.
By Type
PTZ Camera segment is projected as one of the most lucrative segments.
Region wise, the AI CCTV market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is dominating the AI CCTV market share, owing to growth of the infrastructure sector. However, Asia-Pacific is projected to register the significant growth rate during the forecast period. Furthermore, LAMEA holds the subsequent position, and is likely to increase its growth rate by the end of the forecast period, followed by Europe.
Leading AI CCTV market manufacturers such as Panasonic Corporation, Bosch Security Systems, and FLIR Systems, Inc. are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications.
By End User
Commercial segment is expected to secure leading position during forecast period.
Top Impacting Factors
The prominent factors that impact the AI CCTV market growth are rise in need for safety in high-risk areas and increase in use of AI CCTV in traffic monitoring. In addition, surge in demand for AI CCTV from smart home industry across the globe further drives the market growth. However, high costs associated with new technology & privacy concerns restrict the market growth. On the contrary, high demand from smart cities projects is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the development of the global AI CCTV market during the forecast period.
Competition Analysis
Competitive analysis and profiles of the major AI CCTV market players such as 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 VIVOTEK Inc are analyzed in the report.
By Region
Asia-Pacific would exhibit the highest CAGR of 17.0% during 2021-2030
Covid-19 Impact Analysis
- The arrival of COVID-19 has significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are estimated to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers.
- The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market, falling business confidence, massive slowing of supply chain, and increase in panic among the customer segments.
- The Asian and European countries under lockdowns have suffered a major loss of business and revenue, due to the shutdown of manufacturing units in the region. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which leads to impact the AI CCTV market growth in 2020.
- The COVID-19 pandemic has impacted the electronics sector as the production facility have stalled, which in turn have the significant demand for electronics and semiconductor products in the industries. Its major impact includes a large-scale manufacturing interruption across Europe, interruption in Chinese parts exports, which may hinder the AI CCTV market growth.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global AI CCTV market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall AI CCTV market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current AI CCTV market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the AI CCTV market share of key vendors.
- The report includes the artificial intelligence CCTV market trends and the market share of key vendors.
Key Market Segments
By Offering
- Hardware
- Camera Modules
- Monitor
- Storage
- Others
- Software
- Services
By Camera Type
- PTZ Camera
- Dome Camera
- Bullet Camera
- Box Camera
- Others
By Deployment
- Cloud-based
- On-premise
By End User
- Residential
- Commercial
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- 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.
- VIVOTEK Inc.
AI CCTV Market Report Highlights
| Aspects | Details |
 By OFFERING |
|
 By CAMERA TYPE |
|
 By DEPLOYMENT |
|
 By END USER |
|
 By Region |
|
 Key Market Players | HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD., D-Link Corporation, Swann, BOSCH SECURITY SYSTEMS GMBH (ROBERT BOSCH GMBH), EAGLE EYE NETWORKS, Panasonic Corporation, VIVOTEK INC., FLIR Systems, Inc., AXIS COMMUNICATIONS AB, HANWHA TECHWIN. |
Analyst Review
AI CCTV uses machine learning or deep learning programs, which analyze the image & audio from video surveillance data to identify events, objects, vehicles, or humans. It provides various features such as face recognition, object missing detection, people-counting, and people management.
The global AI CCTV market is anticipated to witness significant growth during the forecast period, owing to factors such as increase in demand for technically advanced surveillance system and rise in concerns about public safety & security. Furthermore, surge in use of AI CCTV at traffic signals by government agencies to detect & recognize license plates on moving or stationary vehicles boosts the overall market growth. However, lack of awareness about advanced products is a major restraint to the global AI CCTV industry. In addition, growth of the infrastructure sector in Asia-Pacific is expected to create lucrative opportunities for the AI CCTV industry.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Collaboration, partnership, and product launch are expected to be the prominent strategies adopted by the market players. North America accounted for a major share of the market in 2020, owing to the presence of major players in the region; however, Asia-Pacific is expected to grow at the highest CAGR, owing to rise in adoption of AI CCTV in a variety of fields.
A. The AI CCTV Market is estimated to grow at a CAGR of 14.9% from 2021 to 2030.
The AI CCTV Market is projected to reach $55.22 Billion by 2030.
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Demand for technically advanced surveillance system and rise in concerns related to public safety & security are the prime factors that drive growth of the AI CCTV Market.
The key players profiled in the report 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 VIVOTEK Inc
On the basis of top growing big corporations, we select top 10 players.
The AI CCTV Market is segmented on the basis of offering, camera type, deployment, end user, and region.
The key growth strategies of AI CCTV Market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
The infrastructure sector is projected to be the major application during the forecast period followed by commercial.
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