DUBLIN--(BUSINESS WIRE )--The "AI CCTV Market by Offering, by Camera Type, by Deployment, and by End-user - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The AI CCTV Market size was valued at USD 14.99 billion in 2021, and is expected to reach USD 51.95 billion by 2030, with a CAGR of 14.7% from 2022 to 2030.
AI CCTVs are the cameras that are embedded with artificial intelligence (AI) technology for vehicle detection, face detection, person detection, and people counting. One of the important advantages of using AI CCTV is that it won't require an internet connection. AI can be added to old CCTV systems, and can also be installed as 100% new systems.
Also, the 'AI layer' can be added at various points of the technology stack - at camera-level, NVR-level or at a cloud-level. It is integrated with an AI chip for micro-processing and enhancing advanced analytical functions. Moreover, the recordings that are carried out in AI CCTV can be directly transferred to a Digital Video Recorder (DVR). These recordings are further used in different sectors for various activities such as detection of criminal activities and monitoring home security.
The demand for AI CCTV is increasing due to rising demand of technically advanced surveillance system. The adoption of advanced technologies to improve the quality of images and videos at traffic signals for detecting and recognizing license plates of moving or stationary vehicles are expected to support the growth of the global AI CCTV market.
AI-based CCTVs can process every frame, present real-time analysis, and review the incidents captured in the camera. It will further indulge in enhancing road infrastructure, better collection and analysis of crash data, and increasing the efficiency of post-crash response. This factor is expected to further propel the growth of AI CCTV market during the forecast period.
However, surge in the prices of AI CCTV along with rising number of cyberattacks on internet-connected CCTV cameras are expected to restrain the market during the forecast period. On the contrary, rising demand from smart cities for security purposes is expected to create ample growth opportunities for the market in the coming years.
Market Segmentations and Scope of the Study:
The global AI CCTV market is segmented on the basis of offering, camera type, deployment, end user, and geography. On the basis of offering, the market is divided into hardware, software, and services. On the basis of camera type, the market is segmented into PTZ camera, dome camera, bullet camera, box camera, and others.
On the basis of deployment, the market is bifurcated into cloud-based and on-premise. On the basis of end user, the market is divided into residential, commercial, and industrial. Geographic breakdown and analysis of each of the aforesaid segments includes regions such as North America, Europe, Asia-Pacific, and Row.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900