AI CCTV Market by Offering (Hardware, Software, and Services), by Camera Type (PTZ Camera, Dome Camera, Bullet Camera, Box Camera, and Others), by Technology (Facial Recognition, Emotion Recognition, Object Detection and Recognition and Others), by Deployment (Cloud-Based and On-Premise), and by End User (Residential, Commercial, and Industrial) – Global Opportunity Analysis and Industry Forecast, 2024–2030

Market Definition

The AI CCTV market size was valued at USD 19.72 billion in 2023 and is predicted to reach USD 51.5 billion by 2030, with a CAGR of 14.7% from 2024 to 2030. The AI CCTV market refers to the segment of the global security and surveillance industry that focuses on the integration of artificial intelligence (AI) technologies into CCTV systems. These AI-enhanced CCTV systems leverage advanced algorithms and machine-learning techniques to enable intelligent video analysis, real-time monitoring, and automated decision-making. 

The primary goal of AI in the CCTV market is to enhance the effectiveness and efficiency of video surveillance, by enabling features such as object recognition, facial recognition, behavior analysis, and anomaly detection. This technology finds application in a broad spectrum, such as public safety, home security, retail, traffic management, and industrial monitoring.

It provides improved security and operational insights by processing and interpreting video data in a more intelligent and proactive manner. Innovations in video analytics, deep learning, and computer vision technologies characterize the AI CCTV market. It offers businesses and institutions advanced and reliable surveillance solutions to address security and monitoring needs.

Rising Government Initiatives Toward the Expansion of Smart Cities Drive the Market Growth

The rising government initiatives toward the expansion of smart cities place a high priority on integrating advanced surveillance and security technologies to improve the urban living experience and enhance public safety. AI CCTV, as a pivotal element in these undertakings, delivers real-time monitoring, data analysis, and automation to tackle the challenges associated with urbanization effectively.

It empowers city authorities to make well-informed decisions, optimize resource allocation, and elevate the overall quality of life for city dwellers. The expansion of AI CCTV within the smart cities segment underscores the powerful synergy between technological innovation and urban development, ultimately creating safer and more efficient urban environments than before.

For instance, the Indian government initiated the Smart Cities Mission, a program to address the challenges posed by India's rapid population growth and extensive urbanization in the years to come. Under this initiative, 100 smart cities have been identified for development by 2024, with the government of India and various states collaborating to enhance urban living and infrastructure.

Increasing Adoption of AI CCTV in Residential Areas Propels the Market Growth

The rising concerns about property theft, vandalism and personal safety are prompting homeowners and property managers to invest in advanced security systems that include AI-CCTV. The affordability and accessibility of AI CCTV technology have made it attainable for residential use. Remote monitoring capabilities provide homeowners with peace of mind, allowing them to access live feeds and receive alerts on their mobile devices. This, in turn, ensures property security even when they are not at home. 

Additionally, the integration of AI features such as object recognition and facial detection enhances threat assessment and incident prevention. These factors, combined with the desire for improved security and the convenience of remote monitoring, are propelling the growth of the AI CCTV market in residential areas. This factor makes it an essential component of modern home security systems.

The High Cost of AI CCTV Hinders the Market Growth

The high cost of AI CCTV is a significant restraint to the expansion of market growth. It deters many potential users, especially small businesses and homeowners, who may have limited budgets. The extended time required to recover the initial investment through security and operational benefits also acts as a restraining factor toward the growth of the market. 

The Integration of the Internet of Things (IoT) in AI CCTV Creates Ample Growth Opportunities

The integration of AI CCTV with the Internet of Things (IoT) created substantial growth opportunities for the AI CCTV market. This convergence enhances the capabilities of AI-powered surveillance by fostering improved connectivity, data fusion, and real-time alerts. IoT sensors and devices provide a wealth of information, and when combined with AI CCTV, they enable a proactive approach to security and surveillance. 

These integrated systems can trigger automated responses, optimize resource utilization, and facilitate cost savings. This factor makes them increasingly essential in various sectors. AI CCTV's integration with IoT offers a holistic and data-driven approach to security, safety, and resource management, thus driving market expansion and innovation for the upcoming years.

North America Holds a Major Share of the AI CCTV Market

North America holds the dominant share of the AI CCTV market at present, and is expected to dominate during the forecast period. The presence of global key market players such as Eagle Eye Networks, Inc., FLIR Systems, Inc., and Swann Communications are taking initiatives that include product launches to increase their dominance. These initiatives, in turn, propel the growth of the market. 

For instance, in September 2023, Eagle Eye Networks introduced V3 of its Eagle Eye Video API Platform, a system widely utilized by developers, resellers, and technology partners across the globe. This latest API version is all-encompassing, designed to expedite the development of video applications, and extends the groundwork laid by V1 and V2 of the API.

Also, in March 2023, FLIR Systems, Inc. unveiled the FLIR FC-Series AI, the most recent addition to its renowned fixed camera (FC) lineup. The FC-Series AI is a thermal security camera integrated with onboard AI analytics capable of precisely classifying humans and vehicles. This advanced feature is an early intrusion detection system, ideal for perimeter protection and remote site monitoring. This empowers users to enhance situational awareness, make well-informed decisions, and, in turn, bolster safety, coordination, and operational efficiency.

Moreover, the growing initiatives of semiconductor-based companies to simplify the implementation of AI camera-driven sensing solutions have played a pivotal role in advancing the capabilities of AI CCTV systems. These initiatives make them more efficient and effective in various applications, such as surveillance, object recognition, and real-time monitoring.

For instance, in October 2021, Sony Semiconductor Solutions Corporation introduced its AITRIOS edge AI sensing platform in the U.S., Europe, and other regions. This platform streamlines the development and deployment of AI-powered camera and sensor solutions. It offers a comprehensive ecosystem to support solution providers, including AI developers, application developers, camera manufacturers, module integrators, and system integrators.

This, in turn, creates solutions from edge to cloud. Thus, this platform marks a significant step in advancing AI-driven camera and sensor solutions, making it a promising development for various industries and contributing toward the overall development of the market. 

Asia-Pacific Witnessed a Substantial Growth in the AI CCTV Market

The rising adoption of AI CCTV in prisons in the region to combat illegal activities, including contraband item smuggling and unauthorized communication via mobile phones. Through the implementation of AI surveillance, authorities can efficiently monitor and curb such activities, ultimately enhancing security, safety, and operational efficiency within these institutions. This demand within the correctional sector is a significant driver of the AI CCTV market expansion, highlighting its versatility and effectiveness in addressing security challenges.

For instance, in July 2023, the Indian government revealed its plan to implement AI-powered CCTV cameras across the prison grounds. The primary objective is to strengthen security protocols and bridge surveillance gaps in areas where traditional cameras are currently absent.

Moreover, the growing government initiatives toward the adoption of AI CCTV aim to enhance public safety, streamline law enforcement efforts, and bolster overall security in public spaces and critical infrastructures.

For instance, in January 2022, The South Korean government invested USD 287 million this year for over 1,000 projects geared toward initiating the digital transformation for the post-COVID-19 era. These initiatives encompass the creation of a proprietary metaverse platform, broadening the deployment of AI-enhanced CCTV systems, and the advancement of services based on blockchain technology.

Competitive Landscape

The AI CCTV market comprises various market players, such as AXIS Communications, Robert Bosch GmbH., D-Link Corporation, Eagle Eye Networks, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Hanwha Techwin Co., Ltd., Panasonic Holdings Corporation, Swann Communications, FLIR Systems, Inc., Vivotek, Inc., and others. These market players are adopting various strategies such as collaboration and product launches across various regions to maintain their dominance in the AI CCTV market.

For instance, in June 2023, Hangzhou Hikvision Digital Technology Co., Ltd. released TNM-C4940TD, TNM-C4950TD, and TNM-C4960TD cameras. Each camera is equipped with dual lenses to produce both a VGA thermal image and a 4K visual image. These AI cameras incorporate precise object detection and classification based on deep learning, effectively mitigating false alarms. These functionalities offer operators a dependable event source, thereby enhancing operational efficiency.

Also, in March 2023, Axis Communications introduced a range of panoramic cameras, two dome cameras, and a thermal camera specially designed for extensive remote temperature monitoring. These devices are all based on ARTPEC-8 chip technology, and are equipped with a Deep Learning Processing Unit (DLPU). This factor enables advanced video analytics directly at the network edge. These innovative products emphasize Axis Communications' dedication to providing deep learning capabilities to all its customers.

KEY BENEFITS

• The report provides quantitative analysis and estimations of the AI CCTV market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the AI CCTV market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the AI CCTV market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

KEY MARKET SEGMENTS

By Offering

• Hardware

• Software

• Services

By Camera Type

• PTZ Camera

• Dome Camera

• Bullet Camera

• Box Camera

• Others

By Technology

• Facial Recognition

• Emotion Recognition

• Object Detection and Recognition

• Others

By Deployment

• Cloud-Based

• On-Premise

By End User

• Residential

• Commercial

• Industrial

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The U.K.

  • Germany

  • France    

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• Rest of the World (RoW)

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION: