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 Deploy

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

AI CCTV market was valued at USD 19.72 billion in 2023, and is slated to surpass USD 51.5 billion by 2030, owing to the rising adoption of AI CCTV for traffic management.

AI CCTV Market
Domain- ICT & Media
Sub Domain - Hardware/Software & Services

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 adoption of AI CCTV at traffic signals by government agencies to detect and recognize license plates contributes to the growth of the AI CCTV market. This application of artificial intelligence (AI) plays a crucial role in improving traffic management, law enforcement, and overall urban safety. AI-powered cameras can swiftly and accurately identify license plates, facilitating tasks such as monitoring traffic violations, locating stolen vehicles, and managing toll collection. This technology not only enhances road safety but also underscores the growing importance of AI-driven surveillance solutions in modern urban environments, thus propelling the expansion of the AI CCTV market.

Moreover, the increasing concerns regarding property theft, vandalism, and personal well-being are prompting homeowners and property managers to invest in advanced security systems encompassing AI-driven CCTV. The cost-effectiveness and widespread availability of AI CCTV technology have rendered it accessible for residential applications. These elements, coupled with the demand for enhanced security and the convenience of remote monitoring, propel the expansion of the AI CCTV market in residential settings. This factor establishes it as a fundamental component of contemporary home security systems.

However, the high cost of AI CCTV deters many potential users, particularly small businesses and homeowners, who may have limited budgets. This, in turn, restrains the growth of the market. On the contrary, the integration of AI CCTV with the Internet of Things (IoT), which enhances the capabilities of AI-powered surveillance by fostering connectivity, data fusion, and real-time alerts, creates ample growth opportunities for the coming years.

Segment Overview
The global AI CCTV market is segmented on the basis of offering, camera type, technology, deployment, end user, and region.
 By offering, the market is classified into hardware, software, and services.
 By camera type, the market is segmented into PTZ camera, dome camera, bullet camera, box camera, and others.
 By technology, the market is categorized into facial recognition, emotion recognition, object detection and recognition, and others.
 By deployment, the market is divided into cloud-based and on-premise.
 By end user, the market is classified into residential, commercial, and industrial.
 Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW).

Regional Analysis
North America is projected to hold a dominant share of the market by 2030
The global key market players such as Eagle Eye Networks, Inc., FLIR Systems, Inc., and Swann Communications are taking initiatives such as product launches to increase their dominance. This, in turn, propels 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. It extends the groundwork laid by V1 and V2 of the API. Thus, these companies are driving advancements in surveillance technology. This, in turn, contributes to the growth of the market.

Moreover, the growing initiatives of semiconductor-based companies to simplify the development and integration of AI camera-based sensing solutions played a pivotal role in advancing the capabilities of AI CCTV systems. This, in turn, makes 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.

Key Market Players
The key players in the AI CCTV market include companies 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.

Recent Developments
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 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.

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 equipped with a Deep Learning Processing Unit (DLPU). This enables the execution of advanced video analytics directly at the network edge. These innovative products emphasize Axis Communications' dedication to providing deep learning capabilities to all its customers.

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.

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.

February 2023
VIVOTEK, a prominent player in the global IP surveillance industry, introduced its AI-enhanced security system, the VAST Security Station (VSS). This system is available in three versatile tiers–VSS Lite, VSS Standard, and VSS Professional. It leverages cutting-edge AI and edge computing technologies to deliver real-time facial recognition and vehicle detection through integrated cameras. This has become a significant advancement in AI-powered CCTV solutions.

KEY BENEFITS
• The AI CCTV market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a comprehensive analysis of the AI CCTV market trends, including current and future trends to depict prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the AI CCTV market is provided in the report.
• The competitive analysis of the market players along with their market share in the AI CCTV market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the report.
• The value chain analysis in the market study provides a clear picture of the roles of stakeholders.