AI In-Vehicle Surveillance Market by Type (AI Face Recognition System, AI Video Surveillance System, AI Blind Spot Detection System, AI Parking Assist System), By Application (Passenger Car, Commercial Vehicles), and by Region (North America, South America, Africa, Asia Pacific, Europe, and the Middle East), Global forecast, 2021-2031

One of the primary reasons propelling the growth of this market is the rising demand for car safety and car security system. Demand for these solutions is being further supported by consumers' increased knowledge of the numerous safety features provided by AI in-vehicle surveillance technology, such as face recognition software, blind spot detection, surveillance footage, parking assist system, etc. A further factor driving this market's expansion is the strict government laws governing automobile safety that are being enforced. The development of connected and autonomous cars has created new market prospects for AI in-vehicle surveillance systems, which is helping to fuel the market's expansion.

The market is crucial because it offers a reliable, affordable, and secure way to keep an eye on vehicular traffic. A variety of AI in-vehicle surveillance system features, including face recognition software, blind spot detection, surveillance footage, driver assist system, etc., contribute to the security and safety of automobiles. Additionally, there is a global need for AI in-car monitoring solutions due to the implementation of strict regulatory rules about vehicle safety. AI in-vehicle surveillance systems are becoming more and more necessary as the market for autonomous and connected vehicles rises. As a result, the market is expanding due to the rising need for security systems in automobiles.

Artificial intelligence (AI) in-car surveillance is a cutting-edge system that employs AI and machine learning can monitor, detect, and track behaviors occurring within a vehicle. Artificial intelligence (AI) is utilized in in-vehicle surveillance systems for a variety of tasks, including parking assistance, blind spot identification, video monitoring, and facial recognition. These options provide a quick, affordable, and safe way to keep an eye on automobile activity. AI in-vehicle surveillance systems provide a variety of features that improve the security and safety of moving cars. The market is expanding as a result of the rising desire for active safety systems in automobiles.

The market for AI in-vehicle surveillance is projected to reach USD 20.07 billion in value by 2031, expanding at a CAGR of 24.8% over the forecast period.

The primary factor boosting the development of this market is the rising demand for safety and security systems in automobiles. Global demand for AI in-car monitoring systems is also being driven by strict government laws relating to crashworthiness.

One of the biggest issues this business is now facing is the higher maintenance cost of AI in-vehicle monitoring systems. Another significant obstacle impeding the expansion of this market is customers' lack of awareness of these solutions. Additionally, worries about the privacy of the data gathered by these solutions have hindered the expansion of this sector. The market for AI in-vehicle surveillance is being constrained by the growing competition from other new technologies including vehicle-to-vehicle (V2V) communication and adaptive cruise control (ADAS). To get a competitive edge in this market, businesses participating in it are concentrating on methods like product launches and partnerships.

Segment Analysis

The AI Face Recognition System Type emerged as the Most Booming Segment

The AI in-vehicle surveillance market is divided into four categories based on type: AI face recognition system, AI video surveillance system, AI blind spot detection system, and AI parking assistance system. The AI facial recognition system dominated this market in 2020 and is anticipated to continue to do so throughout the projected period. This is explained by its capability to distinguish people precisely, which has been useful for observing vehicular traffic. Additionally, this market is expanding as a result of the rising need for facial recognition technologies in commercial vehicles including buses and trucks.

The Most Prominent Application is the Passenger Cars

The market is split into two categories based on application: passenger cars and commercial vehicles. Passenger cars dominated this group in 2020 and are anticipated to continue dominating it during the projected period. The rising need for safety and security features in personal vehicles is to blame for this. Furthermore, the development of sophisticated self-driving technology has accelerated the expansion of this market.

The North American Region to render Ample Revenue Opportunities

According to regional data, North America held the greatest market share in 2020 for AI in-vehicle surveillance systems. This is explained by the presence of significant companies like Bosch, NVIDIA, and Intel Corporation in this area. The North American AI in-vehicle surveillance market is also expanding as a result of the rising need for safety and security systems.

COVID-19 Impact and Market Status

The COVID-19 epidemic has adversely affected the market for AI in-vehicle monitoring, which has hurt both the automotive sector and related businesses. Due to lockdowns implemented by several governments, a major decline in automobile sales was seen globally. This has impacted the demand for intelligent safety systems inside automobiles, which has slowed the market's expansion for in-vehicle AI monitoring. Although, a minor market rebound is projected in 2021 as a result of the increased attention being paid to safety and protection systems.

The leading companies in the global market for artificial intelligence in-vehicle surveillance are Magna International (Canada), Aptiv PLC (Ireland), Denso Corporation (Japan), Autoliv Inc. (Sweden), ZF Friedrichshafen AG (Germany), Valeo SA (France), Bosch Group (Germany), Continental AG (Germany), Delphi Automotive PLC (UK), and Texas Instruments (US). To obtain a competitive edge, these businesses are concentrating on product launches as well as strategic alliances and engagements.

Recent Developments in the AI In-Vehicle Surveillance Market

•   A cloud-based simulation platform for autonomous car testing and validation called DRIVE Constellation was released in April 2020, according to an announcement from NVIDIA. With accurate representations of roads, weather, and traffic scenarios that are enabled by AI, this platform enables automakers to simulate millions of kilometers in various environments.

•   Rear View Reversing Assist, an AI-based system that uses cameras and radar to detect blind spots while the vehicle is in reverse, was introduced by Bosch in June 2020. With the aid of this technology, drivers can maneuver safely in small spaces and lower their chances of colliding with other cars or objects.

•   ZF announced the introduction of its new "Smart Antenna" functionality for ADAS systems in December 2020. With the use of artificial intelligence (AI), this capability enables vehicles to precisely detect and analyze signals from other moving vehicles. The Smart Antenna also enables precise automated driving features like lane-keeping and distance warning, raising the bar for vehicle safety.

AI In-Vehicle Surveillance Market Scope

Key Segments of the Global AI In-Vehicle Surveillance Market

By Type Overview (USD Billion)

• AI Face Recognition System
• AI Video Surveillance System
• AI Blind Spot Detection System
• AI Parking Assist System

By Application Overview (USD Billion)

• Passenger Car
• Commercial Vehicles

By Regional Overview (USD Billion)

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• Rest of Asia Pacific

South America

• Mexico
• Brazil
• Rest of South America

Middle East and Africa