Video Analytics Market

Video Analytics Market worth $11.7 billion by 2025

The report "Video Analytics Market by Component, Application (Intrusion Management, Incident Detection, People/Crowd Counting, Traffic Monitoring), Deployment (On-premises and Cloud), Type, Vertical, and Region - Global Forecast to 2025" The global video analytics market is expected to grow from USD 4.9 billion in 2020 to USD 11.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period. Factors that  are expected to drive the growth of the video analytics market are increased investments and focus of governing institutions on public safety, need to utilize and examine unstructured video surveillance data in real time, a significant drop in the crime rate due to surveillance cameras, growing need among enterprises to leverage Business Intelligence (BI) and actionable insights for advanced operations, limitations of manual video analysis, government initiatives in emerging technologies to enhance the public safety infrastructure, reduced cost of video surveillance equipment and long-term Return on Investment (RoI), and demand for enhanced video surveillance.

Browse 108 market data Tables and 63 Figures spread through 225 Pages and in-depth TOC on "Video Analytics Market by Component, Application (Intrusion Management, Incident Detection, People/Crowd Counting, Traffic Monitoring), Deployment (On-premises and Cloud), Type, Vertical, and Region - Global Forecast to 2025"
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Software segment to hold a larger market size during the forecast period 

Video analytics software is an important part of video surveillance systems. Businesses of all kinds make use of video analytics software to ensure the safety of their employees and the surrounding premises. It enables organizations to capture and analyze critical data and make business decisions using the intelligently analyzed data provided by the video analytics software. The software has evolved significantly and changed the face of video surveillance, which was initially carried out by guards or other watchdogs who monitored the Closed-Circuit Television (CCTV) recordings of raw footage and acted accordingly. The software has further eliminated the need for manual intervention and continuous human monitoring. Video analytics provides real-time alerts during emergencies.

On-premises segment to hold a larger market size during the forecast period

On-premises is a type of delivery model where the software or solution is installed and operated from the customers’ in-house server and computing infrastructure. The cost of installing on-premises solutions is included in the Capital Expenditure (CAPEX) of the company. This approach is mostly adopted for applications that involve the processing of sensitive and confidential data volumes. These data volumes include internal and external surveillance footage and video feeds of business operations that contain confidential information and crucial insights. In the on-premises deployment, companies have to install the required hardware parts, such as OS, storage devices, servers, cameras, and routers, as well as video analytics software.

Incident detection segment to hold the largest market size during the forecast period

Automated incident detection systems are high-valued assets in public safety infrastructure, such as traffic surveillance and management, to ensure the safety and security of people and the public infrastructure. According to the National Highway Traffic Safety Administration (NHTSA) in the US, approximately 30,000 people die, and 1.5 million people sustain injuries in road accidents every year. This creates the requirement for intelligent systems that can detect such incidents and their possibilities in real time.

Server-based segment to hold a larger market size during the forecast period

The server-based implementation of video analytics systems involves Internet Protocol (IP) cameras or encoders connected to the Ethernet or a server. In this approach, video analytics is embedded via a specific server that traces the video, analyzes it, and provides the output. Even though the analytics capabilities are enhanced due to advancements in edge technologies, there are certain tasks that can be executed more efficiently by running on a powerful server. For instance, license plate recognition demands more than optical character recognition; it also requires an interface to a large database where plates can be stored, referred, and flagged.

Transport and Logistics segment to grow with highest CAGR during the forecast period

The transportation and logistics vertical covers all modes of transit, including airport, maritime, subways, railways, and other types of public transport. This vertical face various problems, such as accidents and crimes, and it is important to gain actionable insights during such emergencies. Video surveillance has become an important part of the transportation and logistics vertical. The various benefits of video analytics for the transportation and logistics vertical are the elimination of overcrowding, behavior analysis, enhanced safety measures, incident recording, and detection of blind spots. Video analytics can contribute to the enhancement and betterment of this vertical for commuters while providing improved safety benefits. The various features offered by video analytics, such as facial recognition, object tracking, unidentified object detection, cargo and train carriage recognition, and intelligent traffic monitoring, can help transportation and logistics companies prevent disasters and detect emerging threats, which may lead to infrastructure destruction or vehicle crashing, resulting in the loss of life.

North America to account for the largest market size during the forecast period

North America tops the world in terms of the presence of security vendors and the occurrence of security breaches. Therefore, the global video analytics market is dominated by North America, which is considered to be the most advanced region with regards to technological adoption and advanced infrastructure. Growing concerns about the protection of critical infrastructure and national borders have increased government intervention in recent years. North America holds the highest market share among regions with the presence of well-established video analytics vendors, many security cameras deployed, large scale implementation of video analytics for city surveillance, and higher usage from law enforcement agencies.

The video analytics market comprises major providers, such as Avigilon (Canada), Cisco (US), Axis Communications (Sweden), Agent VI (US), AllGoVision (India), Aventura Systems (US), Genetec (Canada), i2V (India), IntelliVision (US), intuVision (US), PureTech Systems (US), Qognify (US), Honeywell (US), IBM (US), iOmniscient (Australia), BriefCam (US), Digital Barriers (UK), IPSOTEK (UK), Gorilla Technology (Taiwan), DELOPT (India), Viseum (UK), KiwiSecurity (Austria), Intelligent Security Systems (US), Verint (US), Hikvision (China), Huawei (China), Dahua (China), Senstar (Canada), Identiv (US), and Bosch Security (Germany).The study includes the in-depth competitive analysis of these key players in the video analytics market with their company profiles, recent developments, and key market strategies.

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