HOME Research Insight Axis Communications (Europe) and Avigilon (US) are the Major Players in the Video Analytics Market

Axis Communications (Europe) and Avigilon (US) are the Major Players in the Video Analytics Market

The video analytics market is expected to grow from USD 3.23 Billion in 2018 to USD 8.55 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 21.5% during the forecast period, owing to the existing market offerings and the increasing focus on pricing and promotions.

The major players in the video analytics market include Cisco Systems (US), Honeywell (US), IBM (US), Axis Communications (Europe), Agent Vi (US), and Avigilon (US). These players have adopted various growth strategies, such as expansions, acquisitions, partnerships, collaborations, and new product launches. These players have adopted the major strategy of new product launches to achieve further in the global video analytics market.

In the video analytics market, Avigilon offers a video management software, Avigilon Control Center (ACC), along with Appearance Search and Unusual Motion Detection technologies. The software features advanced video search and self-learning video analytics. The company also offers video analytics appliances which help modernize legacy surveillance camera installations by adding Avigilon self-learning video analytics to any connected video stream. Avigilon has adopted the organic growth strategy, with a focus on the enhancement of its security and business intelligence product portfolio. The company’s diversified portfolio in the video analytics market covers all the significant features of video analytics applications. In March 2018, the company upgraded its Appearance Search technology in its ACC video management software to enable users to search for a person of interest by certain specific physical descriptions, such as hair color, clothing color, gender, and age. Earlier in January 2018, the company launched Unusual Motion Detection (UMD) technology in its ACC. The new technology helps users to search through large amounts of surveillance footage faster, as the UMD focuses its attention on the unusual events that may need further investigation, helping to reduce the time needed.

Axis Communications provides intelligent security solutions with specialization in network video, IP video surveillance, security cameras, and IP cameras. In the video analytics market, the company offers many video analytics applications and the Axis Camera Application Platform (ACAP), an open analytics development platform. Additionally, the company provides product support and learning services for its stakeholders. In line with this, the company has made continuous efforts to diversify and expand its product portfolio and market by adopting both organic and inorganic growth strategies, such as acquisitions, collaborations, and product upgradations. In May 2017, Axis introduced store optimization and loss prevention solutions for the retail vertical. The store optimization solution empowered retailers to understand their customers for revenue growth, whereas loss prevention solutions help prevent theft. In April 2016, the company introduced AXIS Perimeter Defender, a perimeter defense solution for large installations. It uses edge-based video analytics to support multiple detection scenarios including intrusion detection and loitering.

The video analytics market research report analyzes the global adoption trends, growth potentials, key drivers, vendor portfolio analysis, restraints, and opportunities in the market.

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Video Analytics Market by Type (Software and Services), Application (Intrusion Management, Incident Detection, People/Crowd Counting, Traffic Monitoring), Deployment (On-Premises and Cloud), Vertical, and Region - Global Forecast to 2023

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