AI, cloud to rule video surveillance market in 2024: Hanwha Vision

Hanwha Vision Co., formerly Hanwha Techwin, expects the global video surveillance market to undergo a major upgrade with the development of artificial intelligence and cloud service technology, edge AI cameras and sustainability in 2024, the company announced on Wednesday.

The AI-powered video security solution will be a business game changer because it will be able to offer insights from metadata collected from AI cameras and Internet of Things-controlled devices, the company said. 

The company’s new AI surveillance system called SightMind is expected to roll out first in North America in 2024, it added.

Hanwha Vision also forecasts an acceleration in cloud-driven digitalization of the video surveillance industry post-pandemic.

In response, the Korean company plans to launch various cloud-based security services, including DM Pro for controlling and monitoring devices and video surveillance as a service (VSaaS) OnClud, in North America next year.

Hanwha is also betting big on its edge AI camera system, an all-in-one surveillance camera system that can record images as well as store and analyze such image data without a cloud connection.

The edge AI system does not need extra system or infrastructure addition, which reduces cost.

Hanwha Vision offers SolidEDGE, the first Solid State Drive-based camera that does not require a separate server. It can be remotely controlled in real-time worldwide when connected to its cloud system WAVE Sync.

The Korean company set up an innovation center in Silicon Valley, California in 2022, in which its engineers and researchers develop future businesses centered around AI and the cloud.

Write to Mi-Sun Kang at misunny@hankyung.com

Sookyung Seo edited this article.