AI Surveillance System Market Size, Share, Growth, And Industry Analysis, By Type (Cloud Based and Front-end Based), By Application (Commercial and Residential), Regional Forecast To 2031

Updated On: 08 April 2024

AI Surveillance System Market Report Overview

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The global AI surveillance system market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Rather like portholes, AI surveillance is only functional when someone is looking through it. Sometimes that entails a person watching live video, typically from several different video streams. Yet, the majority of surveillance cameras are passive. They serve as a deterrent or as proof in the event of an error. Yet this is quickly changing. Artificial intelligence is equipping security cameras with digital brains that correspond to their eyes, enabling them to interpret live video without the need for humans. This might be good news for public safety, making it easier for police and first responders to identify crimes and accidents, as well as having a variety of scientific and commercial uses. Yet it also poses fresh challenges to social justice and severe concerns about the future of privacy.

IC Realtime hopes to attract companies of various sizes, but also believes that individual consumers will be interested in its technology. A thriving industry for "smart" home security cameras produced by businesses like Amazon, Logitech, Netgear, and the Google-owned Nest is already well-serving these clients. But according to Sailor, this technology is significantly more basic than IC Realtime's.

COVID-19 Impact: Poor Economy Due to the Lockdown to Hinder Market Growth

The economic impact of the coronavirus disease on AI surveillance system market (COVID-19) is unprecedented and uncertain. No matter the firm, sector, or industry, the pandemic has forced the world to adapt to the current conditions. The world economy and service industry have been impacted by the coronavirus outbreak (COVID19). There is no industry that has been untouched by the COVID-19 epidemic's severe impact on the global economy. The gaps in the literature around the economy and economic contexts are discussed in this study, and we suggest future research to concentrate on the stress and well-being explanation, particularly in reaction to the pandemic downturn. Throughout this pandemic, rising protectionism and chauvinism have gotten stronger, hastening the economy's decline.

It has an impact on the economy, as well as overall standards and values, changing them to create a completely new chain of values. Security and social isolation start to take precedence above promptness and orderly planning.

Latest Trends

"Fiercely Competitive Market to Accelerate Market Growth"

The market for AI surveillance system market in security is fiercely competitive and fragmented since so many new businesses are developing cutting-edge technology as a result of the surge in cyberattacks throughout time. Artificial intelligence (AI) is a quickly developing area of technology that is attracting the interest of business investors, defense experts, decision-makers, and rival nations. As a result, this market is becoming more competitive.

AI Surveillance System Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into cloud based and front-end based.

In terms of product, cloud based is the largest segment.

• By Application Analysis

Based on application, the market can be divided into commercial and residential.

In terms of application, commercial is the largest segment.

Driving Factors

"Adoption of the AI surveillance by Several governments to Enhance Market Growth"

More numbers of governments are adopting AI surveillance system technology than experts had previously thought. Out of 176 nations worldwide, at least 75 actively employ AI technologies for monitoring. This comprises smart policing, facial recognition technology, and smart city/safe city platforms. Artificial intelligence is equipping security cameras with digital brains that correspond to their eyes, enabling them to interpret live video without the need for humans. This might be good news for public safety, making it easier for police and first responders to identify crimes and accidents, as well as having a variety of scientific and commercial uses. Yet it also poses fresh challenges to social justice and severe concerns about the future of privacy.

"Expanding Usage of Internet to Uplift Market Growth"

The adoption of cloud-based services has been influenced by the expanding internet's use and the internal processes' move towards digitization. Due to weak cyber regulations and a lack of cybersecurity awareness, businesses have been determined to be 80% more likely to be attacked by hackers than businesses in other areas, which coincides with the region's digital transition. Furthermore, a "single source of truth" has been established in several nations through independent programs and legislation, giving banks and shops access to verified customer digital identities. Examples include Thailand's Digital ID, Singapore's MyInfo, and Malaysia's MyKad, all of which are intended to facilitate and expedite identity verification. This opens up a ton of opportunity for AI in the security business.

Restraining Factors

"Abuse of AI surveillance to Impede Market Expansion"

Compared to governments in liberal democracies, authoritarian and semi-autocratic administrations are more likely to abuse AI surveillance. Some totalitarian nations are using AI technologies for widespread surveillance. In more limited ways, some regimes with poor human rights histories use AI surveillance to support repression. Yet, there is always the possibility of using AI monitoring technology for political gain illegally in political circumstances.

AI Surveillance System Market Regional Insights

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"Asia-Pacific to Dominate the Market Due to Adoption of The Internet by Businesses"

The AI surveillance system market share is advancing rapidly in Asia-Pacific. Yet, it is also creating new opportunities related to threats. The gradual adoption of the internet by businesses to carry out the majority of duties is forcing workers to stay online for longer and generate more data, increasing the danger of cyberattacks and hacking. Hence, using machine learning and AI, that data surge might be reduced in a matter of seconds, assisting the organization in recognizing and addressing the security concern.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent AI surveillance system players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• IBM (U.S.)
• Palantir (U.S.)
• Cisco (U.S.)
• NEC (Japan)
• Johnson Controls (U.S.)
• Ntechlab (Russia)
• Huawei (China)
• ZTE (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.