The global video analytics market size is estimated to be USD 7.1 billion in 2022 and is projected to reach USD 20.3 billion by 2027 during the forecast period, at a CAGR of 23.4%. The increasing investments and focus of governing institutions on public safety is one of the key factors driving the market growth.
The key market players dominating the video analytics market include Avigilon (Canada), Axis Communications (Sweden), Cisco (US), Honeywell (US), IBM (US), AllGoVision (India), Genetec (Canada), IntelliVision (US), Gorilla Technology (Taiwan), and intuVision (US). These players have adopted various strategies, such as new product launches and enhancements, partnerships, collaborations, and acquisitions, to grow in the market.
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Avigilon provides video analytics, network management, hardware and software, surveillance cameras, and access control solutions. In the video analytics market, Avigilon offers video management software and services with built-in cloud, facial recognition, access control unification, and attention interface technologies to bring the correct information to make appropriate business decisions. The company offers video management software, Avigilon Control Center (ACC), and Appearance Search and Unusual Motion Detection technologies. In October 2020, Avigilon launched its new H5 camera platform, including H5 Pro, H5A-Pan-Tilt-Zoom, and H5-A-corner camera. The integrated next-generation video analytics offers better object detection, usual activity detection, pandemic response technologies, and Avigilon appearance search technology to track critical events.
Axis Communications provides intelligent security solutions specializing in network videos, IP video surveillance, and IP cameras. In the video analytics market, Axis Communications offers several video analytics applications, such as the Axis Camera Application Platform (ACAP), an open analytics development platform. ACAP is an open platform that includes a wide range of Axis analytics solutions, from cameras and speakers to access control solutions. In February 2022, Axis Communications launched its Axis camera station to ensure hassle-free management of a single site with video-verified access control.
Video Analytics Market by Component (Software and Services), Application (Incident Detection, Intrusion Management, Traffic Monitoring), Deployment Model (Cloud and On-premises), Type, Vertical and Region - Global Forecast to 2027
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