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The video analytics market size is forecast to increase by USD 16.86 billion between 2022 and 2027, decelerating at a CAGR of 22.54%. In 2017, the US held the largest market share, projecting an annual revenue of USD 1.03 billion. The report offers extensive research analysis on the Video Analytics Market, with a categorization based on End-user, including Government sector, Commercial sector, Banking and financial services, Traffic management sector, and Others. It further segments the market by Deployment, encompassing On-premise and Cloud. Additionally, the report provides geographical segmentation, covering North America, APAC, Europe, South America, and Middle East and Africa. Market size, historical data (2017-2021), and future projections are presented in terms of value (USD billion) for all the mentioned segments.
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The rising demand for improved security arrangements is notably driving the market growth. An increase in the frequency and intensity of security breaches and security attacks including incidences of robbery, theft, shoplifting, and terrorist attacks has encouraged governments and large enterprises to adopt video analytics solutions to control anti-social activities.
Many developed countries such as the US and the UK have stringent regulations mandating the installation of video surveillance cameras in public places like hypermarkets, hospitals, airports, railway stations, hotels, and shopping malls. These regulations are aimed at ensuring enhanced security and curbing anti-social activities. Video analytics-enabled cameras provide real-time alerts and forensic tools for staffed and unstaffed video surveillance options. They automatically report suspicious events to maximize security and maintain operational efficiency. Such factors will contribute to the growth of the market during the forecast period.
The government sector segment was valued at USD 988.77 million in 2017 and continued to grow until 2021. The market share growth of the government sector segment will be significant during the forecast period. Video analytics technology has a significant role in the government sector. It helps to manage data collection and to analyze them efficiently to improve and enhance the security of government and military facilities. Data collected with the help of video analytics helps to increase situational awareness in premises, which is the primary requirement at military bases. Video analytics systems used in the sector can collect, collate, filter, and process all types of input, including unstructured data and live feeds. Such systems help in the integration and optimization of all resources and results. Video analytics identifies behaviors of interest and immediately alerts security operators to suspicious activities. This allows security operators to focus their attention on the most important activities with the highest risk potentials. Thus, they can make better decisions and react faster to events. Therefore, from the above-mentioned factors, it is expected that demand for video analytics in the enterprise segment will increase during the forecast period leading to market growth.
APAC is estimated to contribute 41% to the growth of the global market during the forecast period.
Another region offering significant growth opportunities to vendors is North America. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The video analytics market in North America is expected to grow significantly during the forecast period. Because of the developed infrastructure, the market in North America is quite mature. However, growth in the construction of residential and commercial buildings is increasing the demand for video analytics for enhancing safety and security across such buildings in North America. Hence, the rapid growth in the construction of residential and commercial buildings is boosting the growth of the market in the region.
Market growth in the region is favored by the presence of global and regional vendors such as Agent Video Intelligence Ltd. (Agent Video Intelligence), Cisco Systems Inc. (Cisco Systems), Genetec Inc. (Genetec), etc. These vendors offer high-quality video analytics solutions for a wide range of industries. Hence, the widespread availability of video analytics solutions in North America is boosting the growth of the market in the region.
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The Video Analytics Market is fragmented in nature. Some significant players include Agent Video Intelligence Ltd., Alarm.com, AllGoVision Technologies Pvt. Ltd., BriefCam Ltd.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Canon Inc., Cisco Systems Inc., Genetec Inc., Gorilla Technology Inc., Honeywell International Inc., Huawei Investment and Holding Co. Ltd., i2V Systems Pvt. Ltd., Infinova, International Business Machines Corp., NEC Corp., NICE Ltd., PureTech Systems Inc., Robert Bosch GmbH, Verint Systems Inc., Viseum UK Group, and Zhejiang Dahua Technology Co. Ltd.
The video analytics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Video Analytics Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Decelerate at a CAGR of 22.54% |
Market growth 2023-2027 |
USD 16.86 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
23.91 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agent Video Intelligence Ltd., Alarm.com, AllGoVision Technologies Pvt. Ltd., BriefCam Ltd., Canon Inc., Cisco Systems Inc., Genetec Inc., Gorilla Technology Inc., Honeywell International Inc., Huawei Investment and Holding Co. Ltd., i2V Systems Pvt. Ltd., Infinova, International Business Machines Corp., NEC Corp., NICE Ltd., PureTech Systems Inc., Robert Bosch GmbH, Verint Systems Inc., Viseum UK Group, and Zhejiang Dahua Technology Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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