Europe 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: 21-Sep-2024 | No of Pages: 173 | No. of Tables: 126 | No. of Figures: 93 | Format: PDF | Report Code : IC1178
Market Overview
Europe AI CCTV Market size was valued at USD 2277.35 million in 2023 and is predicted to reach USD 9488.93 million by 2030, with a CAGR of 20.76% from 2024 to 2030. The AI CCTV market constitutes a distinct segment within the global security and surveillance industry, focusing on the incorporation of artificial intelligence (AI) technologies into Closed-Circuit Television (CCTV) systems. These AI-driven CCTV systems leverage sophisticated algorithms and computer vision to augment video analysis capabilities, enabling real-time detection, identification, and response to diverse events and anomalies.
Beyond traditional surveillance, these systems feature intelligent functionalities such as facial recognition, object tracking, and behavior analysis. Witnessing substantial growth, the AI CCTV market is propelled by a heightened demand for advanced security solutions across sectors like commercial, industrial, and public spaces. The market encompasses a diverse array of products and services, including AI-powered cameras, video analytics software, and integrated security systems.
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.
Adoption of AI CCTV at Traffic Signals by Government Agencies Boosting The Market Expansion
The adoption of AI CCTV at traffic signals by government agencies to detect and recognize license plates contributes to the growth of the AI CCTV market. This application of artificial intelligence (AI) plays a crucial role in improving traffic management, law enforcement, and overall urban safety. AI-powered cameras can swiftly and accurately identify license plates, facilitating tasks such as monitoring traffic violations, locating stolen vehicles, and managing toll collection. This technology not only enhances road safety but also underscores the growing importance of AI-driven surveillance solutions in modern urban environments, thus propelling the expansion of the AI CCTV market.
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.
Introduction of Real-Time Threat Detection Within AI-powered CCTV Systems Creates Opportunity for the Market Growth
The capacity for real-time threat detection within AI-powered CCTV systems presents a significant opportunity for market advancement. This capability involves the recognition of intruders, abnormal behaviors, and potential threats in live video streams, facilitated by pivotal AI algorithms. By triggering alarms, notifications, and coordinated responses with other security systems, AI-driven CCTV ensures prompt and efficient reactions to potential security breaches.
This technological advancement plays a crucial role in bolstering security measures across various sectors, from businesses to critical infrastructure, offering swift threat assessment and proactive incident prevention. Notably, recent innovations, such as Ambient. AI-powered forensics solution, showcase the potential for nearly instant post-incident investigations, reducing security investigation times from hours or days to mere minutes. This real-time capability marks a remarkable opportunity in the ongoing evolution of AI within the CCTV and physical security landscape.
The UK holds the Dominant Share in the Market
The escalating concerns surrounding security threats, ranging from terrorism to increasing incidents of criminal activities, stand as a paramount driver for the AI CCTV industry. In response to these challenges, organizations and governments are increasingly turning to advanced surveillance solutions that leverage artificial intelligence. AI CCTV systems, equipped with real-time threat detection, facial recognition, and behaviour analysis, offer a proactive defence against potential security breaches. The ability to identify and respond to security threats swiftly and accurately is particularly crucial for safeguarding public spaces, critical infrastructures, and private properties, driving the market.
Moreover, growing concerns surrounding property theft, vandalism, and personal safety are driving homeowners and property managers to invest in sophisticated security systems, incorporating AI-based CCTV technology. The affordability and accessibility of AI CCTV have democratized its use for residential purposes. Homeowners benefit from remote monitoring capabilities, gaining peace of mind with live feeds and mobile alerts for enhanced property security even during their absence.
Furthermore, the incorporation of AI features such as object recognition and facial detection heightens threat assessment and incident prevention. The increasing demand for improved security and the convenience of remote monitoring are key factors propelling the expansion of the AI CCTV market in residential settings, solidifying its role as a vital component in contemporary home security systems.
Russia is Expected to Show Steady Growth in the Europe AI CCTV Market
Adoption of AI CCTV at traffic signals by governing organisations to detect and recognize license plates contributes to the growth of the AI CCTV market. This application of artificial intelligence (AI) plays a crucial role in improving traffic management, law enforcement, and overall urban safety. AI-powered cameras can swiftly and accurately identify license plates, facilitating tasks such as monitoring traffic violations, locating stolen vehicles, and managing toll collection. This technology not only enhances road safety but also underscores the growing importance of AI-driven surveillance solutions in modern urban environments, thus propelling the expansion of the AI CCTV market.
Moreover, continuous breakthroughs in artificial intelligence, particularly within the sector of computer vision and machine learning, are pivotal drivers for the AI CCTV industry. The ongoing refinement of sophisticated algorithms empowers these surveillance systems with unprecedented capabilities. Advanced object recognition, intricate pattern analysis, and predictive modelling significantly enhance the precision and intelligence of AI CCTV, making them indispensable for organizations seeking robust security solutions.
The dynamic evolution of AI not only ensures heightened accuracy in threat detection but also positions AI-powered surveillance at the forefront of cutting-edge security technologies, fostering an environment of innovation and efficiency within the industry, thereby boosting the market.
Competitive Landscape
The Europe 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.
Europe AI CCTV Market Key Market Segments
By Component
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Hardware
-
Cameras
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Storage Devices
-
Others
-
-
Software
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Video Analytics Software
-
Video Management Software
-
By Camera Type
-
Dome Cameras
-
Bullet Cameras
-
Box Cameras
By Deployment
-
Cloud-Based
-
On-Premise
By End User
-
Commercial
-
Residential
-
Industrial
By Geography
-
Europe
-
The UK
-
Germany
-
France
-
Spain
-
Denmark
-
Finland
-
Sweden
-
Italy
-
Netherlands
-
Norway
-
Russia
-
Rest of Europe
-
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 2277.35 Million |
|
Revenue Forecast in 2030 |
USD 9488.93 Million |
|
Growth Rate |
CAGR of 14.6% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Countries Covered |
12 |
|
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
-
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.
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