Latest news with #HanwhaVision
Korea Herald
3 days ago
- Business
- Korea Herald
Hanwha Vision's AI CCTVs deployed in Lima district for public safety
MEXICO CITY -- Hanwha Vision, a South Korean security system solution provider, has supplied some 2,000 artificial intelligence CCTV cameras to a district in Peru's capital region, marking one of the largest overseas deployments of its advanced surveillance technology to date, according to local officials Friday. Santiago de Surco, one of the districts in the Peruvian capital of Lima, said it has opened a new central monitoring center equipped with Hanwha Vision's AI-based cameras. The Hanwha Vision cameras installed include models with built-in license plate recognition technology and 360-degree multi-sensor monitoring capabilities. They are also programmed to detect abandoned objects and unusual behavior in public spaces using AI algorithms. "By providing analytics that automatically classify people and vehicles, our system helps reduce false alarms and improve monitoring efficiency, which we believe will greatly contribute to crime prevention," said Byun Sang-tae, head of Hanwha Vision's Mexico subsidiary. The municipality aims to reduce its crime rate by nearly half within six months in close cooperation with the Peruvian national police. An opening ceremony for the monitoring center was held the previous day, attended by senior Peruvian government and police officials, along with South Korean Ambassador to Peru Choi Jong-uk. The district, home to major shopping malls, parks and the U.S. Embassy, is regarded as one of the most dynamic and rapidly developing districts within the Lima metropolitan area.
Yahoo
23-04-2025
- Business
- Yahoo
Video Surveillance Market Size Booms with CAGR 11.4% and Projected to Reach $ 122.81 Billion by 2031
NEW YORK, April 23, 2025 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global video surveillance market is observing healthy growth owing to the adoption and integration of cloud and artificial intelligence technology video surveillance systems. The report runs an in-depth analysis of market trends, key players, and future opportunities. Trade shows are a robust platform that allows companies to showcase their entire business at one booth, raising company awareness among customers. This is further boosting the market growth. To explore the valuable insights in the Video Surveillance Market report, you can easily download a sample PDF of the report - Overview of Report Findings Market Growth: The video surveillance market is expected to reach US$ 122.81 billion by 2031 from US$ 57.68 billion in 2024; it is expected to record a CAGR of 11.4% during the forecast period. The adoption of cloud-based video surveillance is driving the video surveillance market growth. According to Hanwha Vision's Peering into 2025: The Next Wave of Video Surveillance report, generative AI is most commonly employed in management systems such as VSaaS (Video Surveillance as a Service). This approach enables users to easily access specific video footage by simply addressing the scene using natural language. The generative AI video surveillance system intelligently evaluates the recorded video data and provides appropriate outcomes, which increases adoption among consumers and drives market growth. Growing Number of Smart City Projects: The development of smart cities with efficient urban management and seamless integration of digital technologies to enhance public safety is driving the market. As cities become more populated and complex, smart city initiatives aim to maximize municipal infrastructure and services by leveraging sophisticated technologies such as the Internet of Things (IoT), cloud, big data, and artificial intelligence. Video surveillance is crucial for such operations as it provides real-time monitoring, data collecting, and analysis, all of which are required to maintain order, improve security, and respond promptly to emergencies. Furthermore, the incorporation of video surveillance into smart cities effectively manage complex urban mobility and traffic management. With growing congestion and complexity in urban transportation networks, urban planners are highly rely on video surveillance to monitor traffic flow, manage traffic, and detect accidents in real time. Growing Demand for IP Cameras over Analog Cameras: Organizations in the security camera industries are shifting their operations to advanced technologies such as IP cameras over analog cameras. Analog cameras transmit raw video data via coaxial cable. These analog cameras are highly facing issues such as signal loss and leakage. This shifts consumers' preference to adopt IP (internet protocol) cameras that provide superior video quality. IP cameras send high-quality video as a digital signal, which reduces the possibility of degradation when the signal is carried by Wi-Fi rather than wires over long distances. Moreover, the most recent camera technology focuses on enhancing CCTV cameras, such as IP pan-tilt-zoom cameras, to make them smarter in a variety of ways, such as wider viewing areas. Integration of Generative AI in Video Surveillance: Generative AI is revolutionizing the video surveillance industry. AI-based video surveillance supports users in automatically monitoring the video of specific objects in real-time. This increases adoption among users by encouraging manufacturers to advance their portfolios. For instance, Honeywell HBT developed Advance Analytics (Ci2MS) powered by AI and deep learning technologies. The video system supports the enterprise to automatically monitor video for specific people, vehicles, or objects and provides real time alarms to detect 'abnormal' or 'suspicious' behaviors. Moreover, this next-generation technology empowers users to make optimal use of their surveillance systems by replacing the manually employed, time-consuming tasks of monitoring live video feeds through recorded video. Geographical Insights: In 2024, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific, respectively. Asia Pacific is expected to register the highest CAGR during the forecast period. Market Segmentation Based on component, the global video surveillance market is divided into hardware, software, and services. The hardware segment is segmented into surveillance cameras, storage devices, and others. The software segment is segmented into video analytics and video management. The services segment is segmented into hosted service, managed service, and hybrid service. The hardware segment held the largest market share in 2024. By system, the global video surveillance market is segmented into analog systems, IP systems, and hybrid systems. The analog systems segment held the largest market share in 2024. On the basis of deployment, the global video surveillance market is segmented into on-premise and cloud. The cloud segment held the largest market share in 2024. In terms of end user, the global video surveillance market is segmented into retail, BFSI, IT & telecom, healthcare, and others. The retail segment held the largest market share in 2024. Stay Updated on The Latest Video Surveillance Market Trends: Competitive Strategy and Development Key Players: A few of the major companies operating in the global video surveillance market are Avigilon (Motorola Solutions Inc); Axis Communications AB; Bosch Security Systems; Cisco Systems Inc; Dahua Technologies Co Ltd; Hanwha Vision; Hikvision; Panasonic Corporation; Sony Corporation; and Teledyne Flir. Global Headlines on the Video Surveillance Market MEITY mandates new Rules for CCTV Cameras In November 2024, i-PRO launched a new line of High Zoom Bullet Cameras. FTC Staff Report of September 2024 Finds Large Social Media and Video Streaming Companies Have Engaged in Vast Surveillance of Users with Lax Privacy Controls and Inadequate Safeguards for Kids and Teens In June 2024, Zhejiang Dahua Technology Co., Ltd. partnered with Clear Digital to provide IP Surveillance hardware, Video Management Software, and other security products across New Zealand. In April 2024, Hanwha Vision Co., Ltd. (South Korea) collaborated with Allied Telesis, Inc. (US) to improve IP Camera Management for security applications. Purchase Premium Copy of Global Video Surveillance Market Size and Growth Report (2025-2031) at: Conclusion The global video surveillance market size is mainly supported by the rise in adoption across various industries including, retail, BFSI, IT & telecom, healthcare, and others. The retail industry is highly adopting video surveillance to continuously monitor their premises, protect assets, and ensure employee safety. Video surveillance benefits retail and other industries by providing real-time monitoring of infrastructure. Moreover, the integration of AI technology in video surveillance is significantly creating opportunities for market growth. AI-based video cameras installed along roads, highways, and crossroads can send data to centralized systems, allow users to optimize traffic light patterns, minimize congestion, and increase overall urban transportation efficiency. This type of surveillance, combined with advanced sensors and drones, enhances cities' adaptability and responsiveness to changing urban issues. Trending Related Reports: About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Ankit MathurE-mail: +1-646-491-9876 Logo: View original content: SOURCE The Insight Partners Sign in to access your portfolio
Korea Herald
10-02-2025
- Business
- Korea Herald
Hanwha Precision Machinery renames itself Hanwha Semitech
Hanwha Precision Machinery, a Korean industrial solutions provider, has rebranded as Hanwha Semitech to underscore its commitment to chip production machines and solutions. The company, affiliated with Hanwha Group's security solutions division Hanwha Vision, unveiled the new name Monday. The company said its rebranding aims to enhance global competitiveness and align itself with its long-term vision by sharpening its focus on the core business. The company, which became independent from Hanwha's defense unit Hanwha Aerospace in September, provides factory equipment for precise material processing, essential in medical and device manufacturing, as well as chip packaging machines. Last year, the company expanded its portfolio to include semiconductor front-end process solutions, preparing to deliver equipment for adding thin film layers that control electrical properties on semiconductor wafers. With the rebranding, Kim Dong-sun, head of strategic management at Hanwha Galleria and Hanwha Vision, will lead the company's strategy, focusing on expanding its core business for the future. Kim, who has previously spearheaded strategy development in Hanwha's other manufacturing units, is the youngest son of Hanwha Group Chairman Kim Seung-youn. His involvement is expected to add momentum to the company's direction toward future business, as he has pledged full support for the development of new technologies. Hanwha Vision has been focusing on developing its thermal compression bonder, semiconductor packaging equipment used to produce high-bandwidth memory (HBM) chips—the most advanced DRAM chips in high demand due to the growth of artificial intelligence technologies. The company is also working on developing a machine for hybrid bonding of chips, which will enable the production of more effective HBMs with a thinner volume. 'We have reflected our direction and commitment in our new name,' said Kim Dong-sun. 'With the innovative technology gained through continuous research and development investment, we will reshape the semiconductor production solutions market.'
