Pune, India, March 31, 2022 (GLOBE NEWSWIRE) -- The global video analytics market size was USD 5.32 billion in 2021. The market is exhibited to grow from USD 6.35 billion in 2022 to USD 28.37 billion in 2029, exhibiting a CAGR of 23.8% during the forecast period. This information is provided by Fortune Business Insights™, in its report, titled, “Video Analytics Market, 2022-2029.”
According to our researchers, growing safety and security jeopardies are predicted to drive market extension. The demand for video analytics is projected to attain traction owing to surging smart cities initiatives across the nations and growing investment to imply analytics incorporated video surveillance systems throughout the government, law enforcement, banking & financial establishments, transportation, and others.
Industry Development
March 2021: Robert Bosch GmbH presented the first-ever camera built on Inteox, which is their open camera platform commencing via the MIC Inteox 7100i.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 23.8% |
| 2029 Value Projection | USD 28.37 billion |
| Base Year | 2021 |
| Video Analytics Market Size in 2021 | USD 5.32 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 140 |
| Segments covered | By Component, By Application, By Industry, By Deployment, By Regional |
| Video Analytics Market Growth Drivers | Rising Demand for Real-Time Event Detection to Drive Market Growth |
| Face Mask Recognition and Crowd Monitoring to Navigate Market amid Pandemic |
Driving Factors
Growing Demand for Real-Time Event Identification to Navigate Market Growth
The analytics amalgamated video software is capable of assisting in analyzing live or documented video streams to identify, categorize, and track behavior arrangements and predefined objects, thus proving as a prime market driving aspect. Real-time video analytics with high-performance competencies can aid modify standard surveillance networks into proficient and intelligent recognition and alert systems for automobiles, people, or static objects. Every individual/public/government establishment installs network links with fluctuating bandwidths between cloud, clusters, and IP cameras to analyze large-scale videos for refined analytics. This is expected to boost the video analytics market growth during the forthcoming years.
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Segmentation
By Component
- Software
- Services
By Deployment
- On-premise
- Cloud
By Application
- Crowd Management
- Facial Recognition
- Intrusion Detection
- License Plate Recognition
- Motion Detection
- Others
By Industry
- BFSI
- Government (Smart cities, law enforcement)
- Critical Infrastructure
- Education
- Retail
- Healthcare
- Travel and Transportation
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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Face Mask Recognition and Crowd Monitoring to Navigate Market amid Pandemic
The COVID-19 pandemic has limited the implementation of video analytics software and services for a brief period owing to the social distancing norms, supply chain interruptions, and constrained mobility of goods and services. Nevertheless, COVID-19 fast-tracked the acceptance of analytics-incorporated surveillance systems, CCTV cameras, and video streaming facilities. Moreover, the amalgamation of technologies such as Artificial Intelligence (AI) and deep learning through surveillance systems, boosted the implementation of analytics-incorporated surveillance systems, which is anticipated to fuel the market in upcoming years.
Report Coverage
The report presents insightful information gained by a rigorous examination conducted by our researchers. Further, meticulous research was directed to offer the predicted size of the video analytics market. The data applied to present the dynamics for numerous fragments at the national, zonal, and international stages are gained from detailed interviews with several shareholders. Additionally, we have obtained admission to various global and regionally compensated databases to offer perfect and detailed insights to make business capitalization choices effortless for you.
Regional Insights
North America to Lead Backed by Introduction of Novel Technologies
North America is predicted to hold the biggest video analytics market share during the mentioned period. The development of novel technologies, as well as the existence of crucial players, are said to boost the regional market growth.
Asia Pacific is estimated to augment at a considerable growth rate during the forecast period. Smart city assignments sponsored by the government and advanced surveillance projects for national security are among the few aspects that are estimated to bolster the utilization of video analytic technologies throughout the region.
Europe is estimated to surge remarkably as a consequence of the existence of a huge number of video content analytics solutions and service suppliers.
Competitive Landscape
Advanced Product Introductions by Prime Companies to Steer Market Growth
The pivotal players present in the market implement various tactics to elevate their position in the industry as dominating companies. One such prime stratagem is procuring companies to spur the brand value among users. Another pivotal tactic is intermittently unveiling radical products with a methodical review of the market and its target users.
List of Key Players Covered in the Report
- Cisco Systems, Inc. (U.S.)
- Avigilon Corporation (Motorola Solutions, Inc.)(U.S.)
- Honeywell International Inc. (U.S.)
- Huawei Technologies Co Ltd. (China)
- IBM Corporation (U.S.)
- Robert Bosch GmbH (Germany)
- Canon Inc. (Axis Communications AB) (Japan)
- Genetec Inc. (Canada)
- AllGoVision Technologies Pvt Ltd. (India)
- IntuVision Inc. (U.S.)
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Major Table of Contents:
- Global Video Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Services
- By Deployment (USD)
- On-premise
- Cloud
- By Application (USD)
- Crowd Management
- Facial Recognition
- License Plate Recognition
- Motion Detection
- Intrusion Detection
- Others (Traffic monitoring, item detection, people tracking, etc)
- By Industry (USD)
- BFSI
- Government (Smart Cities, Law Enforcement)
- Critical Infrastructure
- Education
- Retail
- Travel and Transportation
- Healthcare
- Others
- By Region (USD)
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Video Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Services
- By Deployment (USD)
- On-premise
- Cloud
- By Application (USD)
- Crowd Management
- Facial Recognition
- License Plate Recognition
- Motion Detection
- Intrusion Detection
- Others (Traffic monitoring, item detection, people tracking, etc)
- By Industry (USD)
- BFSI
- Government (Smart Cities, Law Enforcement)
- Critical Infrastructure
- Education
- Retail
- Travel and Transportation
- Healthcare
- Others
- By Country (USD)
- United States
- By Application
- Canada
- By Application
- United States
- Latin America Video Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Services
- By Deployment (USD)
- On-premise
- Cloud
- By Application (USD)
- Crowd Management
- Facial Recognition
- License Plate Recognition
- Motion Detection
- Intrusion Detection
- Others (Traffic monitoring, item detection, people tracking, etc)
- By Industry (USD)
- BFSI
- Government (Smart Cities, Law Enforcement)
- Critical Infrastructure
- Education
- Retail
- Travel and Transportation
- Healthcare
- Others
- By Country (USD)
- Brazil
- By Application
- Mexico
- By Application
- Rest of Latin America
- Brazil
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