Avigilion (Canada) and Axis Communications (Sweden) are leading players in Video Analytics Market
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.
Major vendors in this market are in North America, Europe, and the Asia Pacific region. Avigilion (Canada), Axis Communications (Sweden), Cisco (US), Honeywell International Inc. (US), and IBM (US) are among the leading players operating in the video analytics market. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the video analytics market.
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Avigilion
Avigilon is a company that focuses on enhancing its security and video analytics product portfolio through organic growth strategies. They have a diverse range of products that cover all significant features of video analytics applications. In addition to launching new products and upgrading existing ones, they have expanded their customer base by partnering with security solution providers worldwide. The latest technological features, such as facial recognition, appearance search, motion detection, and AI-powered video management software, drive Avigilon's video analytics solutions. The company's acquisition by Motorola enables them to penetrate new market segments and deliver innovations by providing more value to their customers. The company aims to excel in its core product and service areas, particularly security and video analytics. It has a robust partner ecosystem to support its video analytics solutions. The company is increasingly focusing on new product development and upgrades, such as its recent launch of an artificial intelligence network video recorder. This innovative product combines traditional Avigilon NVR with the capabilities of Avigilon AI appliances to provide organizations with a solution that meets their analytics, storage, cybersecurity, and cloud requirements.
Axis Communications
Axis Communications is a significant participant in the video analytics market and is committed to providing high-quality products to its customers. The company focuses on diversifying and expanding its product portfolio and market by adopting organic and inorganic growth strategies to fulfill this commitment. These strategies include acquisitions, collaborations, and product upgrades. Additionally, the company has an extensive global network spanning 50 countries and over 90,000 partners. The company strongly focuses on organic growth strategies aimed at developing new products and enhancing existing ones. For instance, it recently launched the AXIS Q6078-E PTZ camera that supports UHD 4K resolution and offers 20x zoom, which has improved video quality and built-in cybersecurity features.
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
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