Summary

The video analytics market is expected to grow at a strong CAGR of around 24% during the forecast period. Video analytics can be used to extract meaningful insights from video footage, such as identifying people, objects, and events in real-time, and has experienced significant growth in recent years. This growth has been driven by advances in technology, such as machine learning and computer vision, as well as an increasing demand for video-based insights across industries. Moreover, with increasing awareness about the need and benefits of video analytics technology, spending on product development and R&D activities has increased globally. Additionally, the rising investments and product launches in the video analytics market are further contributing to the growth of the market. For instance, in April 2020, Bosch announced the launch of INTEOX, a new camera platform that is set to change the security and safety industry. The first fully open platform of its kind, INTEOX, gives users, system integrators, and application developers unprecedented freedom for innovation and customization.

Some of the major players operating in the market include Cisco Systems, Inc., Honeywell International Inc., Avigilon Corporation, Huawei Technologies Co., Ltd., Canon Inc., Robert Bosch GmbH, IBM, Genetec Inc., AllGoVision Technologies Pvt. Ltd, intuVision, Inc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst application, the crowd management held a significant share in 2021”
Based on application, the market is segmented into crowd management, facial recognition, intrusion detection, license plate recognition, motion detection, and others. Crowd management held a significant share in 2021. crowd management in video analytics is a powerful tool that can help event organizers, law enforcement agencies, and other organizations keep crowds safe and under control. Thus, the above-mentioned factors drive the segment.

“Amongst industry, the wireless video analytics technology held the majority share of the market in 2021”
By industry, the market is segmented into banking, financial services and insurance (BFSI), government, critical infrastructure, education, retail & logistics, travel and transportation, healthcare, and others. Banking, financial services, and insurance (BFSI) are expected to grow with a significant CAGR during the forecast period. This is widely used to improve security and surveillance, detect fraudulent activities, enhance customer service, ensure compliance with regulations, and improve operational efficiency.

“Asia-Pacific grows with a significant CAGR during the forecast period”
Asia-Pacific is expected to grow with a significant CAGR during the forecast period. This is mainly attributed to the increasing adoption of video surveillance systems and the growing need for intelligent video analysis solutions to enhance security and operational efficiency. Moreover, the growth of the video analytics market in the Asia Pacific is driven by factors such as increasing security concerns, a growing need for operational efficiency, and advancements in technology such as AI and machine learning. According to a report by Numbeo, in 2023, which compares crime rates in different countries, several countries in the Asia Pacific region have higher crime rates than the global average, including Afghanistan, Syria, and Bangladesh.

Video Analytics Market Report Coverage
Base year
・2021
Forecast period
・2022-2028
Growth momentum
・Accelerate at a CAGR of 24.0%
Market size 2021
・USD 5,400 million
Regional analysis
・North America, Europe, APAC, Rest of the World
Major contributing region
・Asia-Pacific is expected to grow at the highest CAGR during the forecasted period
Key countries covered
・U.S., Canada, U.K., Germany, France, Spain, Italy, China, Japan, India, South Korea
Companies profiled
・Cisco Systems, Inc., Honeywell International Inc., Avigilon Corporation, Huawei Technologies Co., Ltd., Canon Inc., Robert Bosch GmbH, IBM, Genetec Inc., AllGoVision Technologies Pvt. Ltd, intuVision, Inc.
Report Scope
・Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling
Segments Covered
・By Component; By Deployment; By Application; By Industry; By Region/Country

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global video analytics market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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