Video Analytics Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment(On-premise, Cloud), By Application(Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition), By Industry(BFSI, Government (Smart cities, law enforcement), Critical Infrastructure), By Region - Industry Forecast 2024-2031


Report ID: SQSG45I2014 | Region: Global | Published Date: June, 2024
Pages: 157 |Tables: 125 |Figures: 77

Video Analytics Market Insights

Global Video Analytics Market size was valued at USD 4.46 billion in 2019 and is poised to grow from USD 5.5 billion in 2023 to USD 35.6 billion by 2031, growing at a CAGR of 23.1% in the forecast period (2024-2031).

Several major international competitors are present in the industry, which is causing the global video analytics market to expand. Due to widespread acceptance of cloud services and security infrastructure, the main factors influencing the adoption of video analytics solutions among companies and SMEs in a variety of industries, such as BFSI, city surveillance, critical infrastructure, education, hospitality and entertainment, manufacturing, defense and border protection, retail, traffic management, transportation and logistics, and others, are the use of cloud services and security infrastructure. It is anticipated that developing nations in APAC and MEA would present more prospects for market suppliers. The current economic downturn caused by COVID-19 highlights the necessity for alternative business methods. For increased safety, it is crucial for organizations to use cloud computing and use video analytics technologies in the global video analytics market.

US Video Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 4.46 billion

Largest Segment

Software

Fastest Growth

Software

Growth Rate

23.1% CAGR

Global Video Analytics Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)

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Video Analytics Market Segmental Analysis

The Global Video Analytics Market is segmented based on the Component, Deployment, and region. Based on the Component, the Global Video Analytics Market is segmented as Software and Services. Based on the Deployment, the Global Video Analytics Market is segmented as On-premise and Cloud. Based on the Application, the Global Video Analytics Market is segmented as Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition, Motion Detection, and Others. Based on the Industry, the Global Video Analytics Market is segmented as BFSI, Government (Smart cities, law enforcement), Critical Infrastructure, Education, Retail, Healthcare, Travel and Transportation, and Others. Based on Region Video Analytics Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Video Analytics Market Analysis by Application

Crowd management is anticipated to have a significant market share throughout the forecasted period. During major events, governments, police, and defense services must handle and monitor enormous crowds of people. In these circumstances, end-users receive situational warnings in real-time thanks to the integration of cutting-edge surveillance systems with video analysis capabilities.

The fastest growth rate is projected for facial recognition. Applications include criminal identification, passport, and visa fraud detection, attendance tracking, and management, as well as these, are anticipated to have a positive impact on the industry. Additionally, market growth is anticipated to be fueled by solutions' growing acceptance in programs like intrusion detection, motion detection, license plate recognition, and others.

Global Video Analytics Market Share By Component, 2021 (%)

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Video Analytics Market Regional Insights

During the projected period, North America is anticipated to have the greatest share of the market. The demand for video content analytics solutions in the United States and Canada is anticipated to rise as a result of the introduction of new technologies and the presence of important players like IBM Corporation, Honeywell International Inc., Cisco Systems, and Motorola Solutions (Avigilon), and others. End customers in the United States and Canada are actively pursuing the use of video analytics combined with cutting-edge technology.

The Asia Pacific is expected to grow at an exponential pace. It is anticipated that government-funded smart city initiatives and sophisticated surveillance programs for national security would increase the use of video analytics throughout the area. Global Video Analytics Market expansion in nations like China and India, as well as the huge changes anticipated in the ICT sector in the next years, are both being driven by the retail business.

Since there are so many vendors offering video content analytics solutions and services, Europe is expected to grow rapidly. In order to create sustainable technology, European nations are focused their efforts on fusing ICT, transportation, and energy. Key market participants in this space are concentrating on new product launch tactics in order to increase their product portfolios.

 

Global Video Analytics Market By Geography, 2021 - 2028
  • Largest
  • Fastest

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Video Analytics Market Dynamics

Video Analytics Market Driver

Rising Demand for Real-Time Event Detection

  • The ability of analytics-integrated video software to analyze life or previously recorded video streams in order to find, categorize, and follow behavior patterns and preset objects has become a major industry driving force. Standard surveillance networks may be transformed with the use of intelligent detection and alarm systems for cars, stationary objects, or people using real-time video analytics with high-performance capabilities. Real-time event detection has contributed to a decline in thefts, crimes, and other criminal activity while also enhancing social conditions and the environment for international trade, which has fueled the expansion of the global video analytics market.

Video Analytics Market Restraint

Lack of Necessary Database Infrastructure and Rising Cybercrimes

  • Extensive database infrastructure is drained during the economic collapse in the I.T. industry of both developed and emerging nations as emerging businesses look for efficiency and boost operating costs and security standards. Due to a lack of well-designed database architecture for video analytics, the accuracy of analytics produced from image and video data is constrained in the global video analytics market. During the forecast period, these factors are anticipated to constrain the expansion of the global video analytics market. The proliferation of cyberattacks and data breaches on mobile devices, IoT devices, and video security cameras limits industry expansion. Videos kept in open cloud storage may be handled improperly by cloud service providers, causing the original video content to leak. The growing number of data breaches in the cloud will probably restrict industry expansion.

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Video Analytics Market Competitive Landscape

The Global Video Analytics market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.

Video Analytics Market Top Player's Company Profiles

  • IBM Corporation
  • Cisco Systems, Inc.
  • Honeywell International Inc.
  • Avigilon Corporation
  • Axis Communications AB
  • Agent Vi Ltd.
  • Aventura Technologies, Inc.
  • Intellivision Technologies Corporation
  • Milestone Systems A/S
  • PureTech Systems, Inc.
  • Qognify, Inc.
  • Verint Systems Inc.
  • Viseum International Ltd.
  • BriefCam Ltd.
  • iOmniscient Pty Ltd.
  • Ipsotek Ltd.
  • KiwiSecurity Software GmbH
  • Digital Barriers Plc.
  • Genetec Inc.
  • AllGoVision Technologies Pvt Ltd.

Video Analytics Market Recent Developments

  • In March 2021, Honeywell Building Technologies is investigating the use of cutting-edge video analytics technologies for enhanced airport safety and health in collaboration with the Airport Innovation Lab at San Diego International Airport (SAN). At SAN, Honeywell's analytics technology would be investigated, tested, and refined in a real-world airport context through the beginning of the summer of 2021.
  • In March 2021, Beginning with the MIC index 7100i, Robert Bosch GmbH delivered the first cameras based on their open camera platform Intex. Due to the Open Surveillance & Safety Alliance (OSSA) Technology Stack for video security equipment, they are compatible with the Security & Safety Things (S&ST) Application Store. Among the characteristics of the cameras are neural network-based analytics integrated video cameras, supporting ML predictive solutions, high-quality pictures, strong housing, and third-party software programs for customized applications.
  • In February 2021, Avigilon announced the release of an artificial intelligence network video recorder. This recorder combines the regular Avigilon NVR with the capabilities of the Avigilon AI appliance to provide businesses with a way to satisfy their needs for analytics, storage, and cybersecurity. The solution is linked to Avigilon's cloud services to enable connectivity and facilitate application and software downloads and updates.

Video Analytics Key Market Trends

  • Organizations may obtain precise and complex analyses of films due to the rising accessibility of high-resolution cameras, such as 4K or 8K. High-resolution films make it easier to recognize and analyze objects and people in crowds, set off alerts when specific criteria are fulfilled, filter and search movies, and more correctly derive information from video metadata. In the next years, the market is projected to be driven by the launch of high-definition cameras by industry participants with improved capabilities.

Video Analytics Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Video Analytics Market Analysis, In the upcoming years, the market is likely to be shaped by the emergence of BI and analytics, AI and cloud-enabled solutions, ML, and computer vision that greatly improve the global video analytics market. One of the key factors driving the market is the expansion of smart city development. The advent of smart cities is predicted to increase the demand for linked devices and video monitoring in municipal structures.

Report Metric Details
Market size value in 2019 USD 4.46 billion
Market size value in 2031 USD 35.6 billion
Growth Rate 23.1%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Software, Services
  • Deployment
    • On-premise, Cloud
  • Application
    • Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition, Motion Detection, Others
  • Industry
    • BFSI, Government (Smart cities, law enforcement), Critical Infrastructure, Education, Retail, Healthcare, Travel, Transportation, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • IBM Corporation
  • Cisco Systems, Inc.
  • Honeywell International Inc.
  • Avigilon Corporation
  • Axis Communications AB
  • Agent Vi Ltd.
  • Aventura Technologies, Inc.
  • Intellivision Technologies Corporation
  • Milestone Systems A/S
  • PureTech Systems, Inc.
  • Qognify, Inc.
  • Verint Systems Inc.
  • Viseum International Ltd.
  • BriefCam Ltd.
  • iOmniscient Pty Ltd.
  • Ipsotek Ltd.
  • KiwiSecurity Software GmbH
  • Digital Barriers Plc.
  • Genetec Inc.
  • AllGoVision Technologies Pvt Ltd.
Customization scope

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  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Video Analytics Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Video Analytics Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Video Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Video Analytics Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Video Analytics Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Video Analytics Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Video Analytics Market size was valued at USD 4.46 billion in 2019 and is poised to grow from USD 5.5 billion in 2023 to USD 35.6 billion by 2031, growing at a CAGR of 23.1% in the forecast period (2024-2031).

The Video Analytics market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. 'IBM Corporation', 'Cisco Systems, Inc.', 'Honeywell International Inc.', 'Avigilon Corporation', 'Axis Communications AB', 'Agent Vi Ltd.', 'Aventura Technologies, Inc.', 'Intellivision Technologies Corporation', 'Milestone Systems A/S', 'PureTech Systems, Inc.', 'Qognify, Inc.', 'Verint Systems Inc.', 'Viseum International Ltd.', 'BriefCam Ltd.', 'iOmniscient Pty Ltd.', 'Ipsotek Ltd.', 'KiwiSecurity Software GmbH', 'Digital Barriers Plc.', 'Genetec Inc.', 'AllGoVision Technologies Pvt Ltd.'

The ability of analytics-integrated video software to analyze life or previously recorded video streams in order to find, categorize, and follow behavior patterns and preset objects has become a major industry driving force. Standard surveillance networks may be transformed with the use of intelligent detection and alarm systems for cars, stationary objects, or people using real-time video analytics with high-performance capabilities. Real-time event detection has contributed to a decline in thefts, crimes, and other criminal activity while also enhancing social conditions and the environment for international trade, which has fueled the expansion of the video analytics market.

Organizations may obtain precise and complex analyses of films due to the rising accessibility of high-resolution cameras, such as 4K or 8K. High-resolution films make it easier to recognize and analyze objects and people in crowds, set off alerts when specific criteria are fulfilled, filter and search movies, and more correctly derive information from video metadata. In the next years, the market is projected to be driven by the launch of high-definition cameras by industry participants with improved capabilities.

During the projected period, North America is anticipated to have the greatest share of the market. The demand for video content analytics solutions in the United States and Canada is anticipated to rise as a result of the introduction of new technologies and the presence of important players like IBM Corporation, Honeywell International Inc., Cisco Systems, and Motorola Solutions (Avigilon), and others. End customers in the United States and Canada are actively pursuing the use of video analytics combined with cutting-edge technology.

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