According to the report, 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. The global AI CCTV market report provides information on the industry's competitive landscape, market trends, key players, and forecasts for upcoming markets and technological advancements. The report's recommendations can be used by the major market players to increase their market share and maintain their edge over their competitors.

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Moreover, the report provides a qualitative analysis of several factors, including the tactics used by significant competitors, underlying potential, immediate impact on the regulatory framework, market size, and economic influence. The market research also includes in-depth investments, which stakeholders can use to determine their relative market shares and CAGR.

Drivers, Restrains, and Opportunities:

The global AI CCTV market revenue is anticipated to witness significant growth over the forecast period. This is attributed to factors such as increase in demand for technically advanced surveillance system and rise in concerns related to public safety & security. In addition, 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 industry. Moreover, growth of the infrastructure sector in Asia-Pacific is anticipated to create lucrative opportunities for the artificial intelligence based CCTV industry.

Competitive Landscape:

The report analyzes the profiles of key players operating in the AI CCTV market such as 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., and VIVOTEK Inc. The report provides a detailed analysis of key market players operating in the global travel insurance market. They adopted numerous strategies such as new product launches, collaborations, business expansion, partnerships, mergers and acquisitions, joint ventures, and more in order to stay competitive in the market.

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Market Segmentation:

By offering: hardware, software, and services.

By camera type: PTZ camera, dome camera, bullet camera, box camera, and others.

By deployment: cloud-based and on-premise.

By end user: residential, commercial, and industrial.

By Region: North America (Canada, Mexico, the U.S.), Europe (France, Spain, Italy, Germany, Russia, the UK, and the rest of Europe), Asia-Pacific (Japan, China, India, Thailand, South Korea, Malaysia, Indonesia, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, UAE, Saudi Arabia, South Africa, Argentina, and the rest of LAMEA).

Covid-19 Impact Analysis:

The arrival of COVID-19 had significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to an increase in the number of COVID-19 cases, which in turn had decreased the demand for electronics and semiconductor products in the end use industries. Furthermore, partial or complete lockdown had disrupted the global supply chain posing challenges for manufactures to reach customers.

The Asian and European countries under lockdowns had suffered a major loss of business and revenue, due to the shutdown of manufacturing units in the region. The operations of the production and manufacturing industries had been heavily impacted by the outbreak of the COVID-19 disease, theeby hampering the AI CCTV market growth in 2020.

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Key Points Discussed in the Report:

  • What are the main strategies used by the leading market players?

  • What are the key driving factors and opportunities promoting the growth of the AI CCTV market?

  • Which geographical areas are covered by the report on the AI CCTV market?

  • Which market segment dominates the global AI CCTV market?