Middle East AI CCTV Market by Component (Hardware and Software), by Camera Type (Dome Cameras, Bullet Cameras, and Box Cameras), by Deployment (Cloud-Based and On-Premise), and End User (Commercial, Residential, and Industrial)–Opportunity Analysis and Industry Forecast, 2024–2030
Industry: ICT & Media | Publish Date: 22-Apr-2024 | No of Pages: 111 | No. of Tables: 79 | No. of Figures: 44 | Format: PDF | Report Code : N/A
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Market Overview
Middle East AI CCTV Market size was valued at USD 222.88 million in 2023 and is predicted to reach USD 930.85 million by 2030, with a CAGR of 20.79% from 2024 to 2030. The AI CCTV market constitutes a specialized sector within the global security and surveillance industry, concentrating on incorporating artificial intelligence (AI) technologies into Closed-Circuit Television (CCTV) systems. These AI-driven CCTV systems harness sophisticated algorithms and computer vision to elevate video analysis capabilities, enabling real-time detection, identification, and responsive actions to diverse events and anomalies.
Going beyond conventional surveillance, these systems introduce intelligent functionalities such as facial recognition, object tracking, and behavior analysis. The AI CCTV market has experienced substantial growth due to a heightened demand for advanced security solutions across diverse sectors, encompassing commercial, industrial, and public spaces. This market spans a spectrum of products and services, including AI-powered cameras, video analytics software, and integrated security systems.
Rising Expansion of Smart Cities Drive the Market Growth
The rising expansion of smart cities place a high priority on integrating advanced surveillance and security technologies to improve the urban living experience and enhance public safety. AI CCTV, as a pivotal element in these undertakings, delivers real-time monitoring, data analysis, and automation to tackle the challenges associated with urbanization effectively.
It empowers city authorities to make well-informed decisions, optimize resource allocation, and elevate the overall quality of life for city dwellers. The expansion of AI CCTV within the smart cities segment underscores the powerful synergy between technological innovation and urban development, ultimately creating safer and more efficient urban environments than before.
Increasing Adoption of AI CCTV in Residential Areas Propels the Market Growth
The rising concerns about property theft, vandalism and personal safety are prompting homeowners and property managers to invest in advanced security systems that include AI-CCTV. The affordability and accessibility of AI CCTV technology have made it attainable for residential use. Remote monitoring capabilities provide homeowners with peace of mind, allowing them to access live feeds and receive alerts on their mobile devices. This, in turn, ensures property security even when they are not at home.
Additionally, the integration of AI features such as object recognition and facial detection enhances threat assessment and incident prevention. These factors, combined with the desire for improved security and the convenience of remote monitoring, are propelling the growth of the AI CCTV market in residential areas. This factor makes it an essential component of modern home security systems.
The High Cost of AI CCTV Hinders the Market Growth
The high cost of AI CCTV is a significant restraint to the expansion of market growth. It deters many potential users, especially small businesses and homeowners, who may have limited budgets. The extended time required to recover the initial investment through security and operational benefits also acts as a restraining factor toward the growth of the market.
Integration of Behavior Analytics in AI CCTV System Creates growth Opportunity for the Market
As AI continues to advance, the integration of behavior analytics with CCTV systems will become a powerful tool in security and surveillance. AI algorithms can be trained to analyze human behavior patterns and identify anomalous activities in real-time. This could include recognizing suspicious movements, loitering, or abnormal crowd behavior. By leveraging AI for behavior analytics, businesses and governments can enhance their security measures, making the CCTV industry an essential player in the field of advanced threat detection and prevention.
Competitive Landscape
The Middle East AI CCTV market comprises various market players, such as Hangzhou Hikvision Digital Technology Co., Ltd., Zhejiang Dahua Technology Co., Ltd., Axis Communications AB, Motorola Solutions, Inc., Hanwha Vision Co., Ltd., Tiandy Technologies, Zhejiang Uniview Technologies Co., Ltd., IDIS Ltd., Arlo Technologies, Inc., Vivotek Inc. and others. These market players are adopting various strategies such as collaboration and product launches across various regions to maintain their dominance in the AI CCTV market.
Middle East AI CCTV Market Key Market Segments
By Component
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Hardware
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Cameras
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Storage Devices
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Others
-
-
Software
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Video Analytics Software
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Video Management Software
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By Camera Type
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Dome Cameras
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Bullet Cameras
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Box Cameras
By Deployment
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Cloud-Based
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On-Premise
By End User
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Commercial
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Residential
-
Industrial
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 222.88 Million |
|
Revenue Forecast in 2030 |
USD 930.85 Million |
|
Growth Rate |
CAGR of 20.79% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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Hangzhou Hikvision Digital Technology Co., Ltd.
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Zhejiang Dahua Technology Co., Ltd.
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Axis Communications AB
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Motorola Solutions, Inc.
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Hanwha Vision Co., Ltd.
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Tiandy Technologies
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Zhejiang Uniview Technologies Co., Ltd.
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IDIS Ltd.
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Arlo Technologies, Inc.
-
Vivotek Inc.
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