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Video Analytics Market Trends, Share, Size, Demand, Growth Opportunities, Industry Revenue, Future and Business Analysis by Forecast 2028

Key Companies Covered in Video Analytics Market Research Report Are Viseum International (Potters Bar, England), AllGoVision (Karnataka, India), Huawei Technologies Co., Ltd. (Shenzhen, China), Agent VI (New York, United States), Gorilla Technology Group (Taipei, Taiwan), Cisco Systems, Inc. (California, United States), IBM Corporation (New York, United States), Kiwisecurity (Vienna, Austria), Axis Communications AB (Lund, Sweden), Robert Bosch GmbH (Stuttgart, Germany), Honeywell International Inc. (Charlotte, United States), Motorola Solutions, Inc. (Avigilon Corporation) (Illinois, United States), ULTINOUS Zrt. (Budapest, Hungary).

The globalvideo analytics marketsize is projected to reach USD 13,001.7 million by 2027, exhibiting a CAGR of 21.3% during the forecast period. Development and introduction of video analytics to support the fight against the COVID-19 pandemic is emerging as a major game-changer for this market, observes Fortune Business Insights™ in its report, titled “Video Analytics Market Size, Share and COVID-19 Impact Analysis, By Component (Solutions, Services), By Application (Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition, Motion Detection, and Others), By End-user (BFSI, City Surveillance, Critical Infrastructure, Education, Government, Retail, Transportation, and Others), and Regional Forecast, 2020-2027”.

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List of Key Companies Profiled in the Video Analytics Market Report:

  • Viseum International (Potters Bar, England)
  • AllGoVision (Karnataka, India)
  • Huawei Technologies Co., Ltd. (Shenzhen, China)
  • Agent VI (New York, United States)
  • Gorilla Technology Group (Taipei, Taiwan)
  • Cisco Systems, Inc. (California, United States)
  • IBM Corporation (New York, United States)
  • Kiwisecurity (Vienna, Austria)
  • Axis Communications AB (Lund, Sweden)
  • Robert Bosch GmbH (Stuttgart, Germany)
  • Honeywell International Inc. (Charlotte, United States)
  • Motorola Solutions, Inc. (Avigilon Corporation) (Illinois, United States)
  • ULTINOUS Zrt. (Budapest, Hungary)

Key Advantages of Mining Equipment Market Report:

  • Identification and analysis of the market size and competition
    • Qualitative and quantitative analysis of the market data
    • Data validated by industry experts after extensive primary and secondary research
    • Extensive regional analysis of the Mining Equipment Market industry
    • Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
    • SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
    • Feasibility analysis and investment analysis to enable strategic investment decisions
    • Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Mining Equipment Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

As per the report, the global market value in 2019 stood at USD 2,896.0 million in 2019. The salient features of the report include:

  • Microscopic assessment of the trends, drivers, and restraints influencing market growth;
  • Comprehensive analysis of the regional developments impacting the market;
  • Actionable research into the key players’ profiles and their strategies; and
  • Holistic study of all market segments.

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Driving Factor

Expanding Utilization of AI-based Video Analytics by Governments to Feed Market Growth

The proliferation of artificial intelligence (AI) and related technologies in administrative, public safety, and law enforcement domains is emerging as a major driving force for the video analytics market growth. Governments in several countries are actively deploying AI-powered video analytics and facial recognition solutions to conduct efficient surveillance of citizens, public infrastructures and spaces, and improve the quality of governance. According to the Carnegie Endowment for International Peace’s AI Global Surveillance (AIGS) Index, 75 out of 176 countries worldwide are actively using AI for surveillance activities, including smart policing, facial recognition, and smart city development. The AIGS further reveals that 51% of the liberal advanced democracies and a large chunk of full democracies extensively utilize a wide range of surveillance technologies. Adoption of AI-based video analytics technologies by government agencies will prove highly beneficial for this market in the near future.

Regional Insights

North America to Spearhead the Market Backed by Rapid Uptake of Advanced Surveillance Systems

North America is envisaged to dominate the video analytics market share during the forecast period on account of the speedy adoption of AI-based video surveillance systems by government authorities in the US. Furthermore, major cities across the US have made heavy investments to deploy smart technologies such as drones and street sensors to augment safety and security of citizens. In 2019, the North America market size stood at USD 971.8 million.

In Asia Pacific, the market is expected to experience robust growth owing to the implementation of smart city projects, increasing focus on national security, and steady expansion of the retail industry. On the other hand, Europe is anticipated to generate lucrative opportunities as the advanced economies of the European Union (EU) are exploring options to develop technologies by blending analytics, energy, and mobility.

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Competitive Landscape

Product Enhancement to be the Principal Focus Area for Key Players

Leading companies in this market are concentrating on enhancing their products and services with advanced features and tools to deliver superior performance for their customers. These players are focusing on developing offerings that have a broad range of applicability and can cement their position in the market.

Industry Developments:

  • November 2020:Axis Communications announced its plans to launch the Axis Object Analytics, its smart video analytics solution that can identify and classify humans and objects as per surveillance need. The product has been designed for application in diverse spaces such as car parks and warehouses.
  • March 2020:Lanner Electronics and Gorilla Technology joined forces to release the next-gen Secure Edge AI solution that combines Gorilla’s real-time video analytics and Lanner’s intelligent edge computing platform. The solution offers AI-optimized video analytics and ensures cyber-security and data safety at the edge.

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Video Analytics Market Trends, Share, Size, Demand, Growth Opportunities, Industry Revenue, Future and Business Analysis by Forecast 2028

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