AI in Video Surveillance Market Size, Share, Industry Report, Revenue Trends and Growth Drivers

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MarketsandMarkets Presents

AI in Video Surveillance Market Size, Share,
Industry Report, Revenue Trends and Growth
Drivers AI in Video Surveillance Market by
Hardware (AI Cameras, Monitors, Storage Devices,
Servers), Software (AI Video Management Software,
AI-Driven Video Analytics), Service (VSaaS),
Deployment (On-premises, Cloud-based), Vertical -
Global Forecast to 2028 https//www.marketsandmar
kets.com/Market-Reports/ai-in-video-surveillance-m
arket-84216922.html
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The global AI in video surveillance market is
expected to be valued at USD 5.6 billion in 2023
and is projected to reach USD 16.3 billion by
2028 it is expected to grow at a CAGR of 23.7
from 2023 to 2028. In 2023, an increasing number
of manufacturers are anticipated to include
AI-based analytics as a standard feature in
cameras and video management systems (VMS). As
security cameras are now prevalent in nearly
every environment, the task of manually
monitoring them all has become exceedingly
challenging for human operators. By incorporating
AI-based analytics, security professionals gain
valuable tools to effectively process and manage
the vast amount of images and data they
encounter. Browse in-depth TOC on "AI in Video
Surveillance Market" 194 - Tables   56 - Figures  
223 - Pages  
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AI in video surveillance for hardware is
expected to hold the highest market share during
the forecast period The market of the hardware
segment is attributed to the fact that hardware
makes for more than 60 of the total cost of an
AI-based video surveillance system. There is also
an increasing use of cameras deployed worldwide
due to rising security concerns across multiple
verticals. The industry shift toward IP cameras
has led to many hardware-based innovations that
provide better low-light performance, object
tracking, and in-built security. Technological
advancements have resulted in highly specialized
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
market. Ask PDF Brochure https//www.marketsandm
arkets.com/pdfdownloadNew.asp?id84216922 Based
on deployment mode, the cloud-based market for AI
in video surveillance to hold the highest CAGR
during the forecast period Cloud-based AI in
video surveillance is poised to become
increasingly popular in the future due to its
numerous advantages and potential benefits. One
key reason is scalability. With the exponential
growth of video data generated by surveillance
cameras, cloud-based AI provides a scalable
solution that can handle large volumes of video
footage efficiently. By leveraging the power of
cloud computing, AI algorithms can analyze and
process vast amounts of data in real-time,
enabling quick detection of anomalies, threats,
or suspicious activities. Moreover, cloud-based
AI allows for centralized management and storage
of video data, eliminating the need for on-site
hardware and infrastructure, reducing costs, and
simplifying maintenance. This accessibility and
flexibility make cloud-based AI in video
surveillance an attractive option for businesses
and organizations of all sizes.
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Infrastructure vertical for AI in video
surveillance market to grow at the highest
CAGR The infrastructure vertical for AI in video
surveillance is expected to gain significant
popularity in the future, driven by several
factors and supported by notable investments and
advancements in technology. One key driver is the
increasing emphasis on public safety and security
in transportation systems, cities, and public
places. Governments and organizations worldwide
are recognizing the crucial role that video
surveillance plays in ensuring the safety of
citizens and infrastructure. Recent news reports
highlight the rising investments in smart city
initiatives and transportation infrastructure,
with a specific focus on deploying advanced video
surveillance systems integrated with AI
capabilities. These systems can proactively
detect and respond to potential threats, such as
unauthorized access, traffic violations, or
suspicious activities, thereby enhancing
situational awareness and enabling timely
intervention. Request Free Sample
Pages https//www.marketsandmarkets.com/requestsa
mpleNew.asp?id84216922 AI in video surveillance
market in Asia Pacific to hold the highest market
share during the forecast period China is one of
the largest consumers of video surveillance
devices and systems globally. According to data
from the National Development and Reform
Commission, the country is determined to
implement video surveillance cameras equipped
with facial recognition technology in crucial
public areas to enhance security and maintain
social stability. Notably, a growing market for
video surveillance systems exists in small
businesses and residential segments. Chinas
extensive infrastructure projects, including
railways, airports, stadiums, and highways, drive
the demand for high-definition surveillance
systems capable of capturing clear images even in
low-light conditions. The Chinese governments
focus on city surveillance and smart city
initiatives further propels the nationwide
adoption of AI-based video surveillance systems.
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Ai In Video Surveillance Market Ecosystem The AI
in video surveillance market is dominated by
established and financially sound manufacturers
with extensive experience in the industry. These
companies have diversified product portfolios,
cutting-edge technologies, and strong global
sales and marketing networks. Leading players in
the market include 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. (US) and others.
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Opportunity Growth in smart city initiatives The
growth in smart city initiatives presents a
significant opportunity for the adoption of AI in
video surveillance. Smart cities leverage
advanced technologies to enhance the quality of
life, improve urban infrastructure, and optimize
resource management. AI-powered video
surveillance systems play a crucial role in
achieving these goals and addressing various
challenges faced by urban environments. One key
opportunity in smart city initiatives is the
enhancement of public safety. AI-based video
surveillance can enable real-time monitoring of
public spaces, transportation systems, and
critical infrastructure. AI video surveillance
contributes to crime prevention, emergency
response, and overall public safety by
automatically detecting and alerting suspicious
activities, crowd management, or traffic
incidents. Challenge System reliability and
false positives System reliability and false
positives are significant challenges in AI-based
video surveillance systems. While AI algorithms
can offer advanced capabilities for threat
detection and behavior analysis, ensuring system
reliability and minimizing false positive alerts
are crucial for maintaining the effectiveness and
efficiency of these systems. One challenge is the
need for high accuracy and reliability in threat
detection. AI video surveillance systems must be
capable of detecting and identifying security
threats accurately and in real time. False
negatives, where a threat goes undetected, can
have severe consequences. In contrast, false
positives, where a benign event is flagged as a
threat, can lead to alert fatigue and wasted
resources. Reducing false positives is
particularly critical. An excessive number of
false alarms can overwhelm security personnel and
reduce their ability to respond effectively to
genuine threats. It can also lead to complacency
or disregarding alerts, diminishing the trust and
reliability of the system.
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