APAC Video Analytics Market – Size, Outlook, Trends and Forecast (2024

APAC Video Analytics Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

The rise in the smart cities expenditure by the governments of various developed and the developing economies are driving the market growth. The video analytics are used to leverage specific data insights into actionable intelligence for various functions. These programs also support the analogue, IP, megapixel cameras and can also be integrated into the hardware components, which reduces the need of the extra hardware and implementation of the cost-effective video analytics.

APAC Video Analytics Market Size:

APAC Video Analytics market is poised to reach the value of $XX billion in 2024 from $XX billion in 2017, growing with the CAGR of XX%. Key points like disadvantages of manual video analysis, falling prices of video surveillance equipment, government investments in emerging technologies to enhance the public safety infrastructure and enterprises demand actionable insights from video data are driving the market growth. Whereas the facts like demand for high investments in legacy installations, false alarms and lack of reliability, problems in isolated and remote locations and privacy issues are hampering the market growth. The market has opportunities like high demand for recognition applications, demand for enhanced video surveillance, growing inclination toward advanced technologies and massive demand for video analytics software and services in non-government sectors which are creating a chance for the market to explore in all the regions.

APAC Video Analytics Market Share:

Type, Deployment, Application, End-user and geographical regions are the segments present in the Video Analytics market. By Type, the market is classified into software and services. Software segment is estimated to hold the large share is owing

APAC Video Analytics Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

to the adoption of video analytics

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APAC Video Analytics Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

software among enterprises which has become the central part of the business process. Services segment is growing with highest CAGR owing to the ease and flexibility of the offered services. By Deployment, the market is segmented into on-premise and cloud. On-premise deployment segment is fastest growing as well as largest market owing to the factors like newer and better ways of enhancing the operational benefits while reducing the costs and need for reducing capital expenditure and operational expenditure and uninterrupted business continuity are driving the market growth.

By application, the market is classified into facial recognition & detection, incident detection, traffic & parking management, perimeter intrusion detection, crowd detection & management and others. Facial recognition is expected to emerge as a fastest growing segment; the growth can be attributed to widening the scope of the facial recognition solutions for surveillance at malls, airports, public transport and others. By End-user, the market is classified into banking, financial services and insurance, city surveillance, critical infrastructure, education, hospitality and entertainment, traffic management, transportation and others.

The retail end-user segment is estimated to register the highest CAGR during the forecast period; the growth is mainly attributed to use of the video analytics in the areas of display and promotion effectiveness, product placement and store layout and customer preference pattern analysis. By geography, the market is classified into China, Japan, India, Australia & New Zealand and others. China is a predominant region as well as fastest growing region owing to the need

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