Quick Summary:
The global video analytics market is poised for remarkable growth in the near future. Video analytics, or video content analysis, uses advanced AI-based programs, multiple cameras, and software applications to derive insights from videos on human behavioral patterns. Able to automate complex tasks like access control, enhancing security functions to infrastructure, and monitor customer behavior, video analytics is fast becoming a critical asset across diverse industries, from surveillance and intrusion detection to dynamic blurring and facial recognition.
The increasing need for advanced security systems worldwide and rise in cyber-attacks and security breaches have amplified the market demand. Additionally, the banking, financial services, and insurance (BFSI) sector employs video analytics to heighten safety and situational awareness. The integration of machine learning (ML) systems and internet of things (IoT) in video analytics has further boosted its efficacy by providing more reliable and accurate insights. With its ability to facilitate prompt decisions, video analytics offers organizations lucrative growth benefits. The expanding retail industry--particularly shopping malls, movie theaters, and hospitality establishments--also fuels the market trend as it increasingly adopts video analytics to enhance public safety.
The global video analytics market size reached US$ 6.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 17.5 Billion by 2028, exhibiting a growth rate (CAGR) of 18.4% during 2023-2028.
Video analytics, also known as video content analysis, is a technological solution that comprises software applications, multiple cameras, and artificial intelligence (AI)-based programs that obtain insights about attributes and human behavioral patterns via videos. It provides computerized monitoring, processing, and analysis of video streams in real time to identify spatial experiences. It also offers enhanced security functions to critical infrastructure while automating access control, minimizing staffing requirements, and collecting data on customer behavior. It is utilized for dynamic blurring, 3D counting, facial recognition, and license plate reading. As a result, it is gaining traction in surveillance, motion, and intrusion detection across the globe.
Video analytics, also known as video content analysis, is a technological solution that comprises software applications, multiple cameras, and artificial intelligence (AI)-based programs that obtain insights about attributes and human behavioral patterns via videos. It provides computerized monitoring, processing, and analysis of video streams in real time to identify spatial experiences. It also offers enhanced security functions to critical infrastructure while automating access control, minimizing staffing requirements, and collecting data on customer behavior. It is utilized for dynamic blurring, 3D counting, facial recognition, and license plate reading. As a result, it is gaining traction in surveillance, motion, and intrusion detection across the globe.
Video Analytics Market Trends:
There is an increase in the need for advanced security and surveillance systems worldwide and governments of numerous countries are undertaking initiatives for financing video analytics solutions to protect citizens from internal and external threats. This, coupled with the rising number of cyber-attacks and security breaches, represents one of the key factors impelling the growth of the market. Moreover, video analytics is employed in the banking, financial services and insurance (BFSI) industry to increase safety and situational awareness by harnessing their existing surveillance networks. It also enables security to respond to the events as they search and filter the videos to accelerate post-event investigations. This, in turn, is stimulating the growth of the market. In addition, there is an increase in the incorporation of the internet of things (IoT) and machine learning (ML) systems in video analytics that processes the data using algorithms for accurate, reliable, and critical insights. It also allows organizations to make prompt and accurate decisions, which is offering lucrative growth opportunities to leading players operating in the industry. Apart from this, the expanding number of shopping malls, movie theaters, stores, hotels, parks, and resorts are driving the demand for video analytics to enhance public safety.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global video analytics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment type, application, architecture type, organization size and end user.Breakup by Component:
- Software
- Services
Breakup by Deployment Type:
- On-Premises
- Cloud
Breakup by Application:
- Incident Detection
- Intrusion Management
- People/Crowd Counting
- Traffic Monitoring
- Automatic Number Plate Recognition
- Facial Recognition
- Others
Breakup by Architecture Type:
- Edge-Based
- Server-Based
Breakup by Organization Size:
- Small and Medium Enterprise
- Large Enterprise
Breakup by End User:
- BFSI
- Retail
- Critical Infrastructure
- Traffic Management
- Transportation and Logistics
- Hospitality and Entertainment
- Defense and Security
- Others
Breakup by Region:
North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Agent Video Intelligence Ltd., AllGoVision Technologies Pvt. Ltd., Aventura Technologies, Inc., Avigilon Corporation (Motorola Solutions), Axis Communications AB (Canon Inc.), Cisco Systems Inc., Gorilla Technology Inc. (Gorilla Science & Technology Holding, Inc.), Honeywell International Inc., IBM, IntelliVision Technologies Corp. (Nortek Security & Control LLC), Intelligent Security Systems Corporation, KiwiSecurity Software GmbH, PureTech Systems Inc. (FLIR Systems), Qognify Inc. and Verint Systems Inc.Key Questions Answered in This Report:
- How has the global video analytics market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global video analytics market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the deployment type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the architecture type?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global video analytics market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Video Analytics Market
What is the estimated value of the Global Video Analytics Market?
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| Report Attribute | Details |
|---|---|
| No. of Pages | 149 |
| Published | June 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 6.2 Billion |
| Forecasted Market Value ( USD | $ 17.5 Billion |
| Compound Annual Growth Rate | 18.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
Table of Contents
1 Preface3 Executive Summary14 Value Chain Analysis16 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Video Analytics Market
6 Market Breakup by Component
7 Market Breakup by Deployment Type
8 Market Breakup by Application
9 Market Breakup by Architecture Type
10 Market Breakup by Organization Size
11 Market Breakup by End User
12 Market Breakup by Region
13 SWOT Analysis
15 Porters Five Forces Analysis
17 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Agent Video Intelligence Ltd.
- AllGoVision Technologies Pvt. Ltd.
- Aventura Technologies Inc.
- Avigilon Corporation (Motorola Solutions)
- Axis Communications AB (Canon Inc.)
- Cisco Systems Inc.
- Gorilla Technology Inc. (Gorilla Science & Technology Holding Inc.)
- Honeywell International Inc.
- IBM
- IntelliVision Technologies Corp. (Nortek Security & Control LLC)
- Intelligent Security Systems Corporation
- KiwiSecurity Software GmbH
- PureTech Systems Inc. (FLIR Systems)
- Qognify Inc.
- Verint Systems Inc.
Methodology
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