Dublin, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The "India Video Management Software and Video Analytics Market: Market Forecast India Video Management Software Market, India Video Analytics Market By Application, By Verticals and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
According to this research, India Video Management Software market revenues are projected to grow with a CAGR of 21.4%, whereas the India Video Analytics market would grow at a CAGR of 19.6% during 2023-29F.
The Indian government's keen focus on developing smart cities, with the allocation of INR16,000 crores in FY24 and INR14,100 crores in FY23 towards the 'Smart Cities Mission' will drive the demand for VMA solutions. Video analytics will play a crucial role in areas such as traffic management, public safety, and infrastructure monitoring, leading to the growth of the VMS and VA market in the coming years.
Moreover, India's e-commerce and retail sectors are growing rapidly, with businesses adopting online platforms. VMA solutions are crucial for managing customer behavior, inventory, and loss prevention. With digital marketing and personalized experiences, VMA solutions analyze customer preferences, providing valuable insights into customer engagement, and enabling businesses to tailor marketing strategies accordingly.
Also, the market will be driven by integrating VMA solutions with IoT devices and AI technologies, enabling the analysis of vast video data. Deployment of cloud computing will provide cost-effective and scalable VMA solutions, offering flexibility, easy deployment, and remote access, making them attractive to organizations of all sizes.
India Video Management Software and Video Analytics Market Synopsis
India Video Management Software and Video Analytics market is growing at a significant rate on account of greater implementation by organizations across a variety of industries, including government, retail, transportation, and finance, to strengthen their security protocols in response to the growing demand for security and monitoring.
Real-time monitoring, threat detection, and incident response have been made possible by VMA technologies like video analytics, facial recognition, and object detection. There has also been a big push from Indian government with initiatives like smart cities, safe transportation, and public safety, which have boosted the VMA market growth. Organizations are leveraging advanced video analytics solutions to meet government requirements.
Moreover, VMA solutions have become more affordable and scalable, making them accessible to a wider range of organizations. Cloud-based VMA platforms are offering cost-effective and flexible options, eliminating the need for hardware infrastructure and maintenance costs.
India Video Management Software Market (Market by Deployment)
On-premise storage gives organizations greater control over their video data. They can implement their security measures, access controls, and encryption protocols to ensure the confidentiality and integrity of the recorded footage. Such a level of control is particularly important for organizations dealing with sensitive data or operating in industries with strict compliance requirements. Also, it is more cost-effective in the long run and offers great flexibility and scalability to the end user.
India Video Management Software Market (Market by Technology)
Compared to analog cameras, IP cameras have better resolution and image quality. They record and transmit video in digital format, resulting in visuals that are sharper and more detailed. For applications that demand precise identification, facial recognition, or evidence gathering, this increased resolution is essential. Because IP-based surveillance systems offer advanced features, scalability, flexibility, superior image quality, network integration, and analytics for modern security applications, the demand for IP-based surveillance systems is growing rapidly.
India Video Management Software Market (Market by Verticals)
Governments across the states and at the center is utilizing CCTV surveillance supported by advanced analytics to enhance public safety and security. The government and transportation segment will rise more in the near future.
India Video Analytics Market (Market by Application)
By Applications, ANPR accounts for the largest share as it improves the effectiveness of law enforcement, traffic management, parking systems, toll collection, and various other domains that require precise and automated license plate identification and tracking, video analytics for license plate recognition has seen an increase in use across Indian cities.
India Video Analytics Market (Market by Verticals)
Government and Transport accounted for the largest market share owing to the wide-scale deployment of video analytics for a variety of applications such as traffic management, public safety & law enforcement, perimeter security, public transport surveillance, automatic number plate recognition (ANPR), smart city initiatives, etc. This segment will continue to dominate the Video Management Software and Video Analytics Market in India.
Key Highlights of the Report
- India Video Management Software Market Overview
- India Video Analytics Software Market Overview
- India Video Management Software & Video Analytics Market Outlook
- India Video Management Software & Video Analytics Market Forecast
- Historical Data and Forecast of India Video Management Software Market Revenues for the Period 2019-2029F
- Historical Data and Forecast of India Video Management Software Market Revenues, By Deployment, for the Period 2019-2029F
- Historical Data and Forecast of India Video Management Software Market Revenues, By Technology, for the Period 2019-2029F
- Historical Data and Forecast of India Video Management Software Market Revenues, By Verticals, for the Period 2019-2029F
- Historical Data and Forecast of India Video Analytics Market Revenues for the Period 2019-2029F
- Historical Data and Forecast of India Video Analytics Market Revenues, By Application, for the Period 2019-2029F
- Historical Data and Forecast of India Video Analytics Market Revenues, By Verticals, for the Period 2019-2029F
- Market Drivers, Restraints
- Market Trends
- Industry Life Cycle
- Legal & State Requirements
- India Video Management Software Market Revenue Share, By Companies
- India Video Analytics Market Revenue Share, By Companies
- Market Competitive Benchmarking
Competitive Landscape
India Video Analytics Market Revenues By Application, 2019-2029F
India Video Analytics Market Revenues By Vertical, 2019-2029F
India Video Analytics Market Competitor's Product Specifications
India Video Analytics Market Revenue Share, By Companies, 2022
India Video Analytics Market Competitive Benchmarking, By Technical Parameters
India Video Analytics Market Competitive Benchmarking, By Operating Parameters
Company Profiles
- AllGoVision
- Videonetics
- Agent Video Intelligence
- EFKON India
Market Scope and Segmentation
By Deployment
- On-premise
- Cloud Based
By Technology
- Analog Based
- IP Based
By Verticals
- Residential
- Industry
- Government & Transportation
- Retail and Logistics
- BFSI
- Commercial Buildings
- Education
- Hospitality & Healthcare
- India Video Analytics Market
By Application
- Crowd Management
- Facial Recognition
- Intrusion Detection
- License Plate Recognition
- Motion Detection
- Retail Analytics
- Others
By Verticals
- BFSI
- Government & Transportation
- Retail & Logistics
- Industry
- Others
For more information about this report visit https://www.researchandmarkets.com/r/vlxcz3
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