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

Global 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

Video analytics gives access to industries to track the system on the real-time basis. Various advantages are coupled with video analytics market including facial recognition, object identification, object detection and others. Rising 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. The advent of the IoT and rising adoption of the surveillance by many enterprises have created massive amounts of data that need to be processed. So, there is a need for in-depth learning of algorithms for pattern analysis and profound learning of infrastructure as this offer the enhanced efficiency of the video surveillance process. Video analytics is the best solution for different kinds of users who continuously improve service, safety and operations to enhance the experience of the customers.

Global Video Analytics Market Size & Growth:

Global Video Analytics market is poised to reach the value of $8.49 billion by 2024 from $2.10 billion in 2017 with the CAGR of 22.10% during 2019 – 2024. 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. Future opportunities include 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

Global 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

market to explore in all the regions.

Global Video Analytics Market Share:

Type, Deployment, Application, End-user and geographical regions are the segments covered 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 to the adoption of video analytics 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 APAC, North America, South America, Europe and Middle East & Africa regions. North America region is expected to hold predominant share is owing to the increasing need for the video surveillance and complete security in operating various environments in this region. APAC is

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Global 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

the fastest growing region due to an increase in the demand for the retail analytics and vehicle plate recognition and demand of the video analytics across the markets. Europe is expected to witness moderate growth during the forecast period. The countries like the UK and Germany are posing the higher need of the security systems which drives the market in this region. South America and Middle East & Africa are the promising markets in the regard of the video analytics market.

Global Video Analytics Market Trends:

IBM partnered with Pelco for the intelligent video analytics; this will leverage data from video footage to quickly identify and respond to potential risks.
Purtech systems have introduced Visionview 180 camera for the outdoor perimeter security.

Global Video Analytics Market Research Reports Includes:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have a complete market analysis through industry value chain analysis, Porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year–On–Year
Identifying DROC in the current market and their impact on altering the market dynamics.
Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
Identify the latest developments, market shares and strategies that are employed by the major market players, such as
- Allgovision technologies Pvt. Ltd.
- Axis Communications AB
- Cisco Systems Inc.
- IBM Corporation
- Purtech systems Inc.

Along with these companies, there were many other companies are considered in the report while analysing the Global video Analytics market. These companies hold substantial share-owning to the nature of the industry whereas the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and stable customer base.

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