The Europe AI in Video Surveillance Market would witness market growth of 23.2% CAGR during the forecast period (2023-2030).
The market growth is expected to be driven by several key factors. Firstly, the demand for video surveillance will increase due to the rising number of smart city projects. This will create opportunities to deploy video cameras in various urban areas. Secondly, there is a growing trend of incorporating contemporary features in video cameras. This includes improved resolution, enhanced night vision capabilities, and increased storage capacity. These innovative features are expected to attract customers and drive the demand for video cameras.
Furthermore, the adoption of body-worn cameras is on the rise across different industries, including healthcare and retail. The need for enhanced security and accountability in these sectors drives this trend. The integration of body-worn cameras is expected to contribute to the overall revenue growth of the market.
AI in video surveillance systems has become even more advanced and necessary due to their increasing demand. To keep consumers informed of every business detail, cameras are now connected to mobile phones with computer-like features like motion sensors and automated notifications. Technology is constantly evolving, and as a result, there are currently improved methods to install video surveillance systems and other ways to manage records and save data. Because of this, all business owners now have affordable access to very powerful video surveillance software.
In England, surveillance camera systems have been widely used. These systems are a part of a complicated system of ownership, management, and responsibility. When utilized properly, these systems are useful tools that help safeguard both persons and property while also enhancing public safety and security. The use of overt surveillance camera systems in public places is completely supported by the government of the region as long as it is done so in accordance with all applicable legal requirements and is done so to further a legitimate goal. This would ensure the privacy and security of people. The supportive nature of the government towards the use of CCTVs is further resulting in the high demand for the market.
The Germany market dominated the Europe AI in Video Surveillance Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,554.1 million by 2030. The UK market is exhibiting a CAGR of 22.1% during (2023 - 2030). Additionally, The France market would experience a CAGR of 24.1% during (2023 - 2030).
Based on Deployment Type, the market is segmented into On-premise and Cloud-based. Based on Offering, the market is segmented into Hardware (AI Cameras, Storage Devices, Servers and Monitors), Software (AI Video Management and AI-driven Video Analytics), and Services (Video Surveillance as a Service and Installation & Maintenance). Based on Vertical, the market is segmented into Commercial, Infrastructure, Public Facility, Military & Defense, Residential and Industrial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide AI in Video Surveillance Market is Projected to reach USD 24.4 Billion by 2030, at a CAGR of 23.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Genetec, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Zhejiang Dahua Technology Co., Ltd., Avigilon Corporation (Motorola Solutions), NEC Corporation, Honeywell International Inc., CloudWalk Technology Co. Ltd., Panasonic Holdings Corporation, Huawei Technologies Co., Ltd. and Corsight AI
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