Video Analytics Market

Video Analytics Industry - Forthcoming Trends to Fuel the Global Growth

The video analytics market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period, to grow from USD 8.3 billion by 2023 to USD 22.6 billion by 2028. The increasing number of CCTV and surveillance system installations drives the adoption of video analytics software.

The Video Analytics industry is undergoing rapid evolution, driven by emerging trends and global forecasts.

Emerging trends in the global Video Analytics Market are:

  • AI and Deep Learning Integration
  • Edge Computing for Real-time Processing
  • Behavioral Analytics and Crowd Management
  • Integration with IoT and Sensor Data
  • Privacy-enhancing Technologies
  • Cloud-based Video Analytics Services

These emerging trends indicate a shift towards more intelligent, efficient, and proactive video analytics solutions, driven by advancements in AI, edge computing, IoT integration, privacy protection, and predictive analytics capabilities.

To know about the assumptions considered for the study download the pdf brochure

AI and Deep Learning Integration:

  • The integration of artificial intelligence (AI) and deep learning technologies is revolutionizing video analytics capabilities.
  • Advanced AI algorithms analyze video streams in real-time, enabling automated object detection, tracking, and classification. Deep learning models can recognize complex patterns, behaviors, and anomalies, enhancing the accuracy and effectiveness of video analytics solutions.

Edge Computing for Real-time Processing:

  • Edge computing is gaining traction in video analytics deployments, enabling real-time processing and analysis of video data at the network edge. Edge devices, such as IP cameras, drones, and IoT sensors, perform local video analytics tasks, reducing latency, bandwidth usage, and reliance on centralized servers.
  • Edge-based video analytics solutions are well-suited for applications requiring rapid response times, such as public safety, retail analytics, and smart surveillance.

Behavioral Analytics and Crowd Management:

  • Behavioral analytics capabilities are expanding beyond simple object detection to include advanced behavior analysis and crowd management features.
  • Video analytics solutions can detect and analyze human behavior patterns, such as crowd density, movement trajectories, and suspicious activities, enabling proactive security measures, crowd control, and situational awareness in public spaces, transportation hubs, and entertainment venues.

Integration with IoT and Sensor Data:

  • Video analytics solutions are increasingly integrated with Internet of Things (IoT) devices and sensor networks to enrich video data with contextual information.
  • By combining video feeds with data from environmental sensors, biometric sensors, and other IoT devices, organizations can gain deeper insights into physical environments, improve decision-making, and optimize operational processes in areas such as retail, manufacturing, and smart cities.

Privacy-enhancing Technologies:

  • With growing concerns about data privacy and compliance regulations, there is a focus on developing privacy-enhancing technologies for video analytics. Techniques such as anonymization, encryption, and redaction are used to protect personally identifiable information (PII) and sensitive data in video streams.
  • Privacy-preserving video analytics solutions enable organizations to comply with regulations such as GDPR and CCPA while leveraging video data for security and business intelligence purposes.

Cloud-based Video Analytics Services:

  • The adoption of cloud-based video analytics services is on the rise, driven by the scalability, flexibility, and cost-effectiveness of cloud computing.
  • Cloud-based video analytics platforms offer centralized management, automatic software updates, and scalable processing resources, making them ideal for applications requiring large-scale video data processing, such as smart cities, retail chains, and transportation networks.

Related Reports:

Video Analytics Market by Offering, Application (Intrusion Management, Incident Detection, and Traffic Monitoring), Deployment Model, Type, Vertical (Critical Infrastructure, Government & Defense, and Manufacturing) and Region - Global Forecast to 2028

Video Analytics Market Size,  Share & Growth Report
Report Code
TC 3523
RI Published ON
4/5/2024
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