The global Video Analytics market size is expected to be worth around US$ 12.4 billion by 2030, according to a new report by Vision Research Reports.
The global Video Analytics market size was valued at US$ 3.6 billion in 2020 and is anticipated to grow at a CAGR of 23.4 % during forecast period 2021 to 2030.
|Market Size||US$ 12.4 Bn by 2030|
|Growth Rate||CAGR of 23.4 % From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Deployment, Application, End-use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Axis Communications AB; Agent Video Intelligence Ltd.; Honeywell International Inc.; IBM Corporation; and Cisco Systems Inc.|
Increasing demand for intelligent security surveillance systems, which can be used for estimating key trends and deriving patterns, is the key factor driving the market growth. In addition, increasing concerns over public safety and the use of video analytics in criminal investigations are positively impacting demand for video analytics solutions. the growing application of video analytics for reducing crime rates through timely alerts about suspicious or unusual activities is a key factor driving the market.
Demand for intelligent video surveillance is further accelerated due to additional features such as improved accuracy, enhanced reliability, and cost-effectiveness, along with its growing significance in business intelligence. These solutions are extensively used to gain insights on patterns pertaining to consumer behavior, traffic movement, and frequency of footfall at a user-defined area.
By Type Analysis
Based on types, the market has been categorized into software and services segments. The market software and services offer an array of features and are entirely customizable (prior to installation) based on client’s requirements.
Video analytics enables the detection of minute details even in low visibility and facilitates the central management of analytics in deployments, which are accessible irrespective of the location and time
The companies providing this software generally offer supplementary services with their products. They provide a comprehensive package and focus on addressing the demands of customers by offering security applications such as access control, video surveillance, motion detection, intrusion detection, and other communications.
By Deployment Analysis
By deployment, the video analytics market has been divided into on-premise and cloud. The cloud segment comprises Software as a Solution (SaaS), which enables unified management of processes, and on-demand subscription model, which charges customers based on the number of subscriptions.
On-premise business operations are carried out on the user company’s site with a dedicated server for itself without linking it to an outside server. In such cases, the software is fully owned by the company.
By Application Analysis
Crowd management and monitoring are tedious tasks for governments and police departments at major events and festivals. In such cases, combining smart surveillance systems with video analytics enables critical situational alerts on a real-time basis.
the facial recognition segment is expected to emerge as the fastest-growing segment, registering a CAGR of 26.9% over the forecast period. Applications such as assistance in fraud detection in passports and visas, identification of criminals, and attendance tracking and management are likely to drive this segment.
By End-use Analysis
The global demand for video analytics has seen a paradigm shift due to the changing demands of customers. The retail end-use segment dominated the market and was valued at USD 418.6 million in 2016.
Other end-use segments include BFSI, government, education, transportation, city, and critical infrastructure. The focus of end users has shifted from basic security surveillance and monitoring to understanding crowd patterns at a particular place and decoding the behavior of individuals. Technological proliferation in the BFSI and education (e-learning) industries has encouraged the implementation of video analytics solutions.
By Regional Analysis
North America was the leading regional market in 2016, valued at USD 736.6 million owing to the large presence of key industry players. The U.S. is currently the world’s largest consumer of video analytics.
Asia Pacific emerged as the second-largest market and this can be attributed to strong economic growth in countries such as India, China, and Indonesia.
Axis Communications AB; Agent Video Intelligence Ltd.; Honeywell International Inc.; IBM Corporation; and Cisco Systems Inc.
License Plate Recognition
Middle East & Africa
The Video Analytics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Video Analytics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Video Analytics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Video Analytics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Video Analytics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Video Analytics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Video Analytics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Video Analytics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Video Analytics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Video Analytics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Video Analytics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Video Analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Video Analytics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Video Analytics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Video Analytics market. These factors have benefited the growth of the global market for Video Analytics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Video Analytics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Video Analytics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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