Video Analytics Market Size, Growth | Global Report 2029

 

Video Analytics Market

Video Analytics Market was valued to be USD 6.1 billion in 2021, and forecast to touch USD 17.5 billion in 2029, growing at a significant higher CAGR of 14.2% during 2022-2029.

The factors driving growth of the Video Analytics Market includes growing demand for intelligent security surveillance systems, increasing incidences of theft at workplace, rising installation of CCTV cameras at buildings and improvements in the living standards. Moreover, increasing application of video analytics solutions for intrusion detection, license plate recognition and crowd management, growing adoption of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in video analytics solutions and rapid urbanization, are some of the additional factors supplementing the Video Analytics Market size. In addition, the increasing investments by major corporations on research and development, strategic mergers, and partnerships between enterprises, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Video Analytics Market is hindered due to Government regulations related to CCTV surveillance.

The leading players operating in the market are Bosch Sicherheitssysteme GmbH, Aventura Technologies Inc, IntelliVision, Verint, Honeywell International Inc, Cisco Systems Inc, IBM Corporation, PureTech Systems, Qognify and AllGoVision Technologies Pvt. Ltd, among others.

Based on Vertical, the Transportation & Logistics segment is predicted to grow at a significant CAGR during the forecast period

Increasing application of video analytics solutions in the transportation and logistics industry for incident recording, detecting blind spots and improving safety measures, are some of the features propelling Global Video Analytics Market.

Based on Deployment, the On-Premises segment is projected to expand at a remarkable CAGR over the forecast period

As per the Video Analytics Market Research, on-premises deployment allows the installation of the software and enables applications to run on systems present, which helps organizations to prevent cyber-attacks, is pushing growth of the segment.

Based on Region, the North American region is anticipated to capture the largest market share during the forecast period

Presence of the leading players such as Cisco Systems Inc, IBM Corporation and Verint, technological advancements in CCTVs, increase in Government’s expenditure on the construction of smart cities, rapid industrialization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.

Key Developments

  • In 2021, Milestone collaborated with Briefcam to develop XProtect Rapid REVIEW video analytics technology which will able customers to accelerate investigation and find what they are looking for with accuracy and speed.
  • In 2021, Mavenir introduced Intelligent Video Analytics (IVA) offering, in a move which further demonstrates a broadening of its technological capability to complement its range of communication services based on Open RAN technology.

Market Segmentation

Segmentation by Vertical

  • Retail
  • Hospitality
  • Transportation & Logistics
  • Defence and Security
  • Mining
  • Others

Segmentation by Deployment

  • On-Premises
  • Cloud

Segmentation by Component

  • Solution
  • Services

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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