What is the global market size of Video Analytics Market?

Global Video Analytics Market size was valued at USD 4.46 billion in 2021 and is poised to grow from USD 5.5 billion in 2022 to USD 35.6 billion by 2030, growing at a CAGR of 23.1% in the forecast period (2023-2030).

Global Video Analytics Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment(On-premise, Cloud), By Application(Crowd Management, Facial Recognition), By Industry(BFSI, Government (Smart cities) - Industry Forecast 2024-2031

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

Global 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.

Global Video Analytics Market Report Snapshots

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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. '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 global 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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Global Video Analytics Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment(On-premise, Cloud), By Application(Crowd Management, Facial Recognition), By Industry(BFSI, Government (Smart cities) - Industry Forecast 2024-2031

Global Video Analytics Market Insights

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