AI CCTV Market Set to Skyrocket: Projected to Reach $55.22 Billion by 2030 with a Remarkable 14.9% CAGR,

AI CCTV Market: Global Opportunity Analysis and Industry Forecast, 2021-2030

WILMINGTON, DELAWARE, UNITED STATES, July 12, 2024 /EINPresswire.com/ -- AI CCTV Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering (Hardware, Software, and Services), Camera Type (PTZ Camera, Dome Camera, Bullet Camera, Box Camera, and Others), Deployment (Cloud-Based and On-premise), and End user (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021–2030

The global AI CCTV market size was valued at $14.83 billion in 2020, and is projected to reach $55.22 billion by 2030, registering a CAGR of 14.9% from 2021 to 2030.

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AI CCTV is a network IP camera which execute advanced analytical functions such as face detection, person detection, vehicle detection, traffic counting, license plate recognition (LPR), and people counting. These AI features are realized by using extremely advanced video analytics software, which is integrated with the recorder and camera.

The global AI CCTV market share is anticipated to witness significant growth during the forecast period, owing to factors such as increase in demand for technically advanced surveillance system and rise in concerns about public safety & security. Furthermore, surge in use of AI CCTV at traffic signals by government agencies to detect & recognize license plates on moving or stationary vehicles boosts the overall market growth. However, lack of awareness about advanced products is a major restraint to the global market. In addition, growing infrastructure sector in Asia-Pacific is expected to create lucrative opportunities for the AI CCTV industry.

The arrival of COVID-19 has significantly affected the electronic and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases and are estimated to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers. The overall production process is being adversely affected, but owing to surge in demand from infrastructure and military & defense sectors, the global AI CCTV market is expected to witness significant growth.

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Competitive Analysis:
The AI CCTV industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the AI CCTV market include,

● Axis Communications AB
● Bosch Security Systems
● D-Link Corporation
● Eagle Eye Networks
● Hangzhou Hikvision Digital Technology Co., Ltd.
● Hanwha Techwin America
● Panasonic Corporation
● Swann
● FLIR Systems, Inc.
● VIVOTEK Inc.

Top Impacting Factors:
The prominent factors that impact the AI CCTV market growth are rise in need for safety in high-risk areas and increase in use of AI CCTV in traffic monitoring. In addition, surge in demand for AI CCTV from smart home industry across the globe further drives the market growth. However, high costs associated with new technology & privacy concerns restrict the market growth. On the contrary, high demand from smart cities projects is expected to create lucrative opportunities for the market. Therefore, these factors are expected to affect the global AI CCTV market development during the forecast period.

Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international security screening market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data produced by international organizations, business groups, government and research institutions, and so on.

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Key Benefits for Stakeholders:

● This study comprises analytical depiction of the global AI CCTV market size along with the current trends and future estimations to depict the imminent investment pockets.
● The overall AI CCTV market analysis is determined to understand the profitable trends to gain a stronger foothold.
● The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
● The current AI CCTV market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
● Porter’s five forces analysis illustrates the potency of the buyers and the AI CCTV market share of key vendors.
● The report includes the artificial intelligence CCTV market trends and the market share of key vendors.

About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

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Allied Market Research
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