According to the research report, the global video analytics market size & share was valued at USD 2.37 Billion in 2020 and is expected to reach around USD 8.40 Billion By 2028, and is estimated to grow at a CAGR of 18.9% during the forecast period.
Video analytics assists in reviewing the developing hours of surveillance video that a system manager or security guard may abstain from watching. The video surveillance system makes the most of actually capturing and managing the incidents, and video analytics will assist in searching for them. Utilizing video analytics makes the surveillance system more effective, lessens the burden of work on management and security staff, and assists in capturing the total value of security video by making the IP camera system more brilliant in its creation.
There are numerous intelligent video analytics software applications in both the private and public sectors. These applications pertain to government, financial, retail and transport. These applications safeguard the assets and the people from damage and harm, preferably before the event. Systems authorized with video analytics function on two significant concepts pattern recognition and motion detection. Motion detection refers to studying each pixel in the frame by which it can detect the slightest movement. On the other hand, pattern recognition perceives objects within the frame of the video. Particular objects and patterns can be programmed identified within the frame.
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Important Questions Being Answered by The Market Report
- What is the market size and growth?
- What are the critical driving factors for developing the video analytics market?
- What are the significant players functioning in the video analytics market?
- What segments are covered?
- How can a sample report be acquired for the video analytics market?
Top Global Market Leaders Are:
- International Business Machines Corporation
- Cisco Systems Inc.
- Axis Communications
- Genetec Inc.
- Agent Video Intelligence Ltd
- Honeywell International Inc.
- Aventura Technologies Inc.
- Qognify
- Avigilon Corporation
- Puretech Systems Inc.
- Intuvision Inc.
- Allgovision Technologies Pvt. Ltd
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Video analytics market: Growth leading factors
The growing demand for real-time event observation pushes the market. Video analytics software assists in offering instant vigilance that takes in a good place of the business sector to support awareness that is situational. The generation of real-time data through videos requires professional handling. Video analysis software can assist in inspecting recorded video streams to categorize and follow predefined behavior patterns and objects, therefore becoming a key market driving factor.
The growing distribution of AI-enabled video analytics solutions is increasing swiftly globally. Government bodies are proactively choosing AI-based video systems to keep an eye on congestion and monitor smart energy metering utilizing the AI global surveillance index for a clearer vision of the videos. AI and deep learning are the prominent technologies for video content analysis and c changing live or recorded videos into metadata that are structured. Moreover, growing funding and concentration on governing bodies on the safety of the public examining unformed video surveillance data in real-time witnessed a massive drop by rate because of the surveillance camera, thereby pushing the growth of the global video analytics market.
The latest economic deceleration with the influence of covid-19 highlights the requirement for substitute business systems. It has become crucial for businesses to accept cloud computing and emigrate to cloud video analytics solutions. This acceptance will assist firms to have a business condition that is stable in the short run while earmarking continued growth and diversification in the long run. The safety and security of human lives have been compromised by the advent of covid-19.
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Global Video Analytics Market: Report Scope
|
Report Attribute |
Details |
|
Market Size 2020 Value |
USD 2.37 Billion |
|
Market Outlook for 2028 |
USD 8.40 Billion |
|
Expected CAGR Growth |
18.9% from 2021 – 2028 |
|
Base year |
2020 |
|
Forecast period |
2021 – 2028 |
|
Segments covered |
By Type, By Deployment Model, By Application, By End-User, By Region |
|
Key Companies |
International Business Machines Corporation, Cisco Systems Inc., Axis Communications, Genetec Inc., Agent Video Intelligence Ltd, Honeywell International Inc., Aventura Technologies Inc., Qognify, Avigilon Corporation, Puretech Systems Inc., Intuvision, Inc., and Allgovision Technologies Pvt. Ltd |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Customization Options |
Customized purchase options are available to meet your research needs. |
Video analytics market: Key segmentation
- Insight by type, deployment model, application, end-user, and region
Based on type, video analysis software automates the process of video surveillance providing benefits that are cost-effective to the end-users. The service segment is anticipated to display significant development of growing penetration of video surveillance technologies amidst medium and small-sized businesses. Based on the deployment model, the on-premise segment calls for a higher share as it is acquired for applications that include clearing confidential and sensitive data volumes. By application, crowd management holds a dominant share, along with monitoring being a challenging task for defense and police departments during critical events. By end-user, transport and logistics have become a dominant segment as they can eliminate overcrowding, enhance the safety measures, analyze the behavior and detect blind spots.
By region, North America is anticipated to lead the market share. The safeguarding of crucial infrastructure is the gravest national and economic security challenge for the government of both countries. Many governments and agencies of law enforcement are taking the initiative to build up infrastructure for security. The US government is continuously engaged with law enforcement agencies to prohibit extremism that is violent and incidents related to counter-terrorism. The Asia Pacific is anticipated to grow exponentially as government-funded intelligent cities, and increasing surveillance projects for national security are some of the factors expected to augment the acquisition of video analytic technologies all over the region. In countries like India and China, market growth is driven by the development of retail industries and swift changes in the ICT sector.
Browse the full “Video Analytics Market Share, Size, Trends, Industry Analysis Report, By Type (Software, Services); By Deployment Model; By Application; By End-Use; By Regions, Segment Forecast, 2021 – 2028” Report at https://www.polarismarketresearch.com/industry-analysis/video-analytics-market
Key highlights of the report
- Quantitative and qualitative analysis of the market dependent on division, including both economic and non-economic factors
- For each segment and sub-segment provision of market value data
- Specifies the element and the region that is anticipated to observe speedy growth and domination of the market
- An investigation by geography underscoring the intake of service and products in the area and indicating the factors impacting the market within each region
- Competitive landscape, which includes the ranking of the need of significant players in tandem with contemporary product launches, business expansion, partnership, and acquisition in the past five years of companies depicted
- In-depth company profiles consisting of product benchmarking, company overview, and SWOT analysis of the prominent market players
The market primarily depends on the type, deployment model, application, end-user, and region
Video analytics market: By type
- Software
- Services
Video analytics market: By deployment model
- Cloud
- On-premise
Video analytics market: By application
- Crowd Management
- Facial Recognition
- Intrusion Detection
- Motion Detection
- License plate recognition
- Others
Video analytics market: By end-user
- BFSI
- City Surveillance
- Critical Infrastructure
- Education
- Hospitality & Entertainment
- Manufacturing
- Defense & Border Security
- Retail
- Traffic Management
- Transportation & Logistics
- Others
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