The North America AI in Video Surveillance Market would witness market growth of 23.0% CAGR during the forecast period (2023-2030).
The use of AI technology has grown recently. Artificial intelligence is extensively used by the governments of various nations for surveillance, including face recognition technology and smart cities. It demonstrates growing urban automation aspirations and advancements, and throughout the forecast period, face recognition applications are expected to increase camera surveillance systems' usage.
A networked and digitalized version of closed-circuit television (CCTV), and Internet Protocol (IP) surveillance, is swiftly emerging as the most flexible and reliable security and surveillance system option. An IP surveillance system comprises an IP-based camera that captures video using a Network Video Recorder (NVR) and a platform for collecting and distributing video over the network.
IP cameras are appropriate for large installation locations with an existing high bandwidth network. Real-time surveillance, remote access, digital zooming, lower operational and infrastructure costs, greater integration potential, ease of data distribution, ease of installation, and adjustable frame rates are some of the benefits IP surveillance cameras have over traditional surveillance cameras. These benefits all help drive AI's growth in the video surveillance market.
In addition, the investigation and security services sector are expected to experience faster-than-average growth in the North America region in the coming years. Employment in the security systems services sector will increase as there is a greater need for security equipment to be deployed in homes and businesses. As a result of this wide adoption of surveillance systems, the need for these solutions will grow.
The US market dominated the North America 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 $5,336.9 million by 2030. The Canada market is experiencing a CAGR of 25.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 24.6% 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 U.S., Mexico, Canada, and Rest of North America.
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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