The global AI in video surveillance market will reach $28,76-billion by 2030, with a CAGR of 28,1% from 2024 to 2030, according to new research by Grand View Research.
Rapid advancements in deep learning and computer vision technologies have significantly improved the accuracy and capabilities of AI-powered video analytics. These technologies enable features like facial recognition, object detection, and behaviour analysis which are increasingly being integrated into video surveillance systems to enhance security and operational efficiency.
Deep learning algorithms can analyse video footage in realtime, detecting and identifying individuals, vehicles, and other objects with a high degree of accuracy. Computer vision techniques such as object tracking and motion analysis allow video surveillance systems to monitor and analyse complex scenes – providing valuable insights that can be used to improve security, optimise operations, and enhance decision-making.
Technological advancements have resulted in highly specialised surveillance cameras that can be programmed to zoom in and scan items such as harmful equipment.
These factors are driving the market for AI in video surveillance hardware. The development of high-resolution, low-light, and weatherproof cameras with advanced features like object tracking, facial recognition, and license plate recognition has significantly improved the capabilities of video surveillance systems.
In addition, the integration of AI and machine learning algorithms into camera hardware has enabled realtime analytics and intelligent decision-making at the edge, reducing the need for constant data transmission to centralised servers or the cloud.
The North America AI-driven video surveillance market is expected to witness significant growth driven by the increasing adoption of AI-powered surveillance systems. AI-driven video analytics can analyse vast amounts of video data in realtime, enabling faster and more accurate threat detection and response.
This trend is driven by the growing need for enhanced security and surveillance capabilities in various industries including retail, healthcare, and finance. As a result, AI-powered surveillance systems are becoming increasingly popular among organisations seeking to improve their security and operational efficiency.
Additional highlights of the report include:
* AI-driven video surveillance systems can analyse patterns of behaviour over time to predict potential security threats or operational inefficiencies. By learning from historical data, these systems can detect unusual behaviours or trends that may indicate a security breach or operational issue before it escalates, enabling proactive intervention.
* The hardware segment led the market and accounted for 41,9% of global revenue in 2023. AI is increasingly being integrated with hardware components in video surveillance systems to enhance performance, efficiency, and capabilities. This integration spans across various aspects of surveillance hardware including cameras, processors, and storage devices.
* AI-powered video surveillance is surging in the commercial sector due to its enhanced security, operational efficiency, and cost-effectiveness. This trend is driven by growing security concerns, advancements in AI, and the affordability of cloud-based solutions.
* North America dominated the market and accounted for a 33,8% market share in 2023. This is due to a heightened focus on security, with AI providing businesses and governments with realtime threat detection and advanced analytical capabilities. Further propelling this trend is the region’s concentration of technology companies and the rise of smart city initiatives. As a result, AI in video surveillance is rapidly becoming an essential element of North American security infrastructure.