According to IMARC Group’s latest report, titled “Video Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global video analytics market reached a value of US$ 5.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.1 Billion by 2027, exhibiting a CAGR of 20.3% during 2022-2027. Video analytics refers to a computerized solution that is generally used by multiple businesses for obtaining quantifiable data from recorded or live video content. It utilizes an algorithm to perform a security-related function via a digital video signal, detects and extracts objects in video and classifies each object to enable intelligent video analysis. It provides enhanced security function to critical infrastructures while automating access control, minimizing staffing requirements and collecting data on customer behavior. There has been a considerable rise in the deployment of video analytics solutions for effectively managing the flow of traffic and detecting fraudulent activities.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Video Analytics Market Trends and Drivers:
The global market is primarily driven by the increasing need for an improved security and surveillance system across multiple sectors due to the rising occurrences of cyber-attacks and security breaches. Besides this, growing investments in the deployment of advanced video analytics systems for analyzing the visual data and detecting post- and real-time events are providing a boost to the market. Along with this, continual technological advancements and the integration of artificial intelligence with video analytics solutions to aid in increasing the accuracy results of the analysis are favorably impacting the market.
The rising adoption of video surveillance systems and connected devices on account of the development of smart cities is expected to further drive the market. Other factors, including rapid urbanization, continuous improvements in the information technology (IT) infrastructure, and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market growth.
Video Analytics Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the video analytics market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 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.
Key Market Segmentation:
The report has segmented the global video analytics market on the basis of component, deployment type, application, architecture type, organization size, end user and region.
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)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (Egypt, United Arab Emirates, Saudi Arabia, Turkey, Qatar, Iran, Others)
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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