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AI In Video Surveillance Market Trends

Report ID: GMI8110
Published Date: Feb 2024
Report Format: PDF

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AI in Video Surveillance Market Trends

A notable trend in the AI in video surveillance industry is the increasing integration of edge computing capabilities. Edge computing involves processing data closer to its source rather than relying on centralized servers. In the context of video surveillance, this means deploying AI algorithms directly on cameras or edge devices, enabling real-time analysis of video feeds. This trend is driven by the need for faster response times, reduced bandwidth usage, and improved privacy by processing sensitive data locally.

Additionally, edge computing facilitates distributed intelligence, allowing surveillance systems to operate effectively even in environments with limited connectivity or latency constraints. As edge computing technologies continue to mature, we can expect further advancements in AI-powered video surveillance solutions, enhancing their scalability, efficiency, and effectiveness.

Another significant trend is the adoption of hybrid cloud architectures in AI in video surveillance market. Hybrid cloud solutions combine on-premises infrastructure with cloud-based services, offering a balance between data locality, scalability, and cost-effectiveness. In the context of video surveillance, hybrid cloud architectures allow organizations to store and analyze video data both locally and, in the cloud, depending on factors such as storage requirements, processing capabilities, and regulatory compliance. This trend enables seamless integration with existing surveillance infrastructure while leveraging the scalability and computational power of the cloud for tasks such as long-term storage, analytics, and machine learning.

By embracing hybrid cloud solutions, organizations can optimize their video surveillance operations, enhance situational awareness, and adapt to evolving security needs effectively. For Insttance, In Sep-2022: Hikvision made enhancements to its Pro series PTZ cameras with the addition of ColorVu technology. The integration of ColorVu in Hikvision's new Pro series cameras would deliver consistent image brightness and complete color imaging as the camera zooms in and out. Furthermore, the enhancement makes sure crystal-clear details and vivid color for distant objects at all times and in all situations.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of AI in video surveillance reached USD 5.5 billion in 2023 and is set to grow at over 15.5% CAGR between 2024 and 2032. With increasing security threats globally, there is a growing demand for advanced surveillance systems that can effectively monitor and protect public and private spaces.

The commercial segment accounted for a market share of over 30% in 2023, as they offer various benefits tailored to the specific needs of businesses.

North America market accounted for over 25% revenue share in 2023, backed by the rising security threats and incidents, and a growing demand for advanced surveillance solutions with enhanced capabilities such as real-time threat detection, facial recognition, and behavior analysis.

Agent Vi, Avigilon (a Motorola Solutions company), Axis Communications, AxxonSoft, Bosch Security Systems, BriefCam, Dahua Technology, and Eagle Eye Networks.