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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%. Market growth hinges on a multitude of factors, notably the empowerment of users with enhanced decision-making capabilities through advanced analytics. As businesses and organizations prioritize safety and security, there's a surge in demand for sophisticated security arrangements, driving innovation in surveillance technologies. Additionally, the need for cost optimization and operational efficiency propels the adoption of solutions that reduce workforce requirements while maintaining or enhancing performance. These solutions often integrate intelligent filters, enabling streamlined data processing and actionable insights.
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The report offers extensive research analysis on the 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.
The market is driven by the increasing demand for intelligent cameras and deep learning algorithms, enhancing capabilities like aggression detection, intrusion detection, and perimeter defense. Trends in edge technologies and AI capabilities are shaping advanced applications such as tripwire counting and crowd counting. However, challenges like interoperability complexities in IoT devices and compliance with regulations like the National Defense Authorization Act (NDAA) pose hurdles. Adapting to edge-based architecture and addressing geopolitical tensions and macro-economic factors such as inflation are key strategies amid market.
The rising demand for improved security arrangements is notably driving the market. 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 market during the forecast period.
The market is experiencing significant growth driven by advancements in intelligent cameras and deep learning algorithms. These technologies enable edge-based architecture for efficient processing and analysis of video data, especially in areas like aggression detection, crowd counting, and perimeter defense. Intrusion detection and camera tampering are critical for enhancing security measures.The integration of AI capabilities and IoT devices has expanded the scope of video analytics, particularly in smart cities and access control systems. However, challenges such as interoperability complexities and facial recognition technology remain significant concerns.Amid geopolitical tensions and macro-economic factors like inflation, the market faces both opportunities and challenges. Organizations are investing in edge computing devices and on-premise solutions for real-time analytics, heat mapping, and post-analysis to combat retail shrinkage and improve operational efficiency.
The market share growth of the government sector segment will be significant during the forecast period. The government sector segment was valued at USD 988.77 million in 2017 and continued to grow until 2021. 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.
APAC is estimated to contribute 41% to the growth of the global market during the forecast period.
Another region offering significant growth opportunities to companiess is North America. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The 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 companiess such as Agent Video Intelligence Ltd. (Agent Video Intelligence), Cisco Systems Inc. (Cisco Systems), Genetec Inc. (Genetec), etc. These companiess 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 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 market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
The market is experiencing robust growth driven by advancements in technology such as intelligent cameras and deep learning algorithms. These technologies enable edge-based architecture for efficient processing and analysis of video data. One of the key applications is aggression detection and crowd counting, essential for ensuring public safety and security in various settings. Intrusion detection and perimeter defense are critical in safeguarding critical infrastructure, while camera tampering and loitering detection enhance surveillance capabilities.
Moreover, the convergence of AI capabilities and IoT devices has expanded video analytics' reach into smart city projects and transportation & logistics sectors. However, challenges like interoperability complexities and privacy concerns related to facial recognition technologies persist. The market landscape depends on various factors such as the Image classification Actionable insights, Domestic firms, Social Credit System, Facial identification, Security cameras, CCTV cameras and Public spaces. The market faces pressures from macro-economic factors such as recession and geopolitical tensions, impacting investment decisions. Yet, opportunities abound with the demand for real-time video analytics, customer experience enhancement, and loss prevention strategies. The retail sector particularly benefits from heat mapping, shrinkage analysis, and forensic insights provided by video analytics. As the market evolves, advanced technologies promise greater accuracy and reduced false alarms, making video analytics indispensable for business intelligence across domestic and international firms, especially in the context of smart city efforts and security camera deployments.
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 and forecasting, Market forecasting , market report, market research and growth, Market growth inducers and obstacles, market trends and analysis, market growth analysis, 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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