AI in Video Surveillance Market to Boom at 23.80% CAGR, Reaching USD 15.99 Billion by 2028
Dublin, Feb. 02, 2024 (GLOBE NEWSWIRE) -- The "Global AI in Video Surveillance Market (2023-2028) by Offering, Deployment Mode, End-User, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to * ResearchAndMarkets.com's* offering.
The latest industry analysis on the AI in Video Surveillance Market forecasts remarkable growth and a compounded annual growth rate (CAGR) of 23.80%, with projected valuations rising from USD 5.5 billion in 2023 to an impressive USD 15.99 billion by 2028. The rapid surge in market size is a reflection of the increasing security needs, alongside advancements in AI and machine learning technologies that are revolutionizing video surveillance capabilities across the globe.
*Significant Market Growth Fueled by Technological Advancements and Security Requirements*
The expansion of the AI in Video Surveillance Market is catalyzed by elevating safety concerns, technological advancements in AI and analytics, and the burgeoning need for cutting-edge surveillance solutions. The market is segmented by offerings, including a range of hardware, software, and services tailored to meet the burgeoning demand for smart and reactive security systems. These progressive offerings are playing a pivotal role in the development of smarter cities and robust infrastructures capable of analyzing and responding to potential threats in real time.
*Market Dynamics: Drivers, Restraints, and Opportunities*
Deep diving into the trends shaping the AI in Video Surveillance Market, it becomes clear that factors such as heightened security measures, advancements in AI, and increased crime rates globally are fuelling the market's trajectory. On the contrary, serious challenges like privacy concerns, high initial investments, and cyber threats have to be navigated by stakeholders within the market. Data protection regulations, like GDPR in Europe and CCPA in the US, also form a labyrinth of compliance that industry players must adeptly manage.
*Geographical Outlook and End-User Engagement*
The report segments the market across key geographies such as North America, Europe, Asia-Pacific, Middle East, Africa, and the rest of the world, offering a comprehensive lens into regional market dynamics. In parallel, a broad spectrum of end-users from urban infrastructure and corporate environments to residential applications is rapidly adopting AI in video surveillance for enhanced safety and security measures.
*Recent Developments and Key Players in the Market*
In March 2023, BriefCam announced significant upgrades to its video analytics platform, enhancing real-time performance and user interaction capabilities. The landscape of the Global AI in Video Surveillance Market is also dotted with key players and innovators such as Agent Video Intelligence (Irisity), Avigilon Corporation, Axis Communications AB, and Axxon Soft. These companies are strategically positioned within the market, driving growth, and setting benchmarks for excellence.
*Strategic Analysis Utilizing Ansoff Matrix and Competitive Quadrant*
The incorporation of strategic tools such as the Ansoff Matrix and the Competitive Quadrant enables an in-depth analysis of market expansion strategies, industry risks, and player positioning. These comprehensive methodologies help decipher the competitive landscape and offer stakeholders insights into the industry's future direction. With the confluence of market analytics, country-level insights, and strategy tools, the report profoundly captures the nuances of the AI in Video Surveillance Market. It is an indispensable resource for industry players seeking to reinforce their market understanding and strategize for sustained growth in this rapidly evolving technological frontier.
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 195
Forecast Period 2023 - 2028
Estimated Market Value (USD) in 2023 $5.5 Billion
Forecasted Market Value (USD) by 2028 $15.99 Billion
Compound Annual Growth Rate 23.8%
Regions Covered Global
*Companies Mentioned*
· Agent Video Intelligence (Irisity)
· Avigilon Corporation
· Axis Communications AB
· Axxon Soft
· Briefcam
· Camcloud
· Cloudwalk Technology Co. Ltd
· Corsight AI
· Genetic Inc
· Hangzhou Hikvision Digital Technology Co., Ltd.
· Honeywell International, Inc.
· Huawei Technologies Co. Ltd.
· Indigo Vision (Motorola Solutions)
· Intellivix Co., Ltd.
· IPsotek Ltd.
· Megvii Technology Co., Ltd.
· Milestone Systems
· Mobotix AG
· NEC Corporation
· Panasonic Holdings Corp
· Robert Bosch GmbH
For more information about this report visit https://www.researchandmarkets.com/r/xyqdkg
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
*Attachment*
· Global AI in Video Surveillance Market
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