Global Video Analytics System Market, By Type (Software, Services), Deployment (On-Premises, Cloud), Application (Incident Detection, Crowd Management, Intrusion Management, Traffic Monitoring, Automatic Number Plate Recognition, Facial Recognition, Others), Vertical (BFSI, City Surveillance, Critical Infrastructure, Education, Hospitality and Entertainment, Manufacturing, Defense and Border Security, Retail and Consumer Goods, Traffic Management, Transportation, Others), Organization Size (Small and Medium Enterprise, Large Enterprise) - Industry Trends and Forecast to 2030.
Video Analytics System Market Analysis and Size
Rising awareness about the benefits of video analytics over manual video analysis is creating lucrative growth opportunities for the global video analytics market. Rising demand for IP-based security systems by small and medium scale enterprises coupled with surge in volume of unstructured video data will further induce growth in the global video analytics market value. Rising adoption of connected devices by medium and small scale enterprises coupled with government initiatives in emerging technologies to enhance public safety infrastructure will also propel growth in the demand for video analytics. Overall growth and expansion of security and surveillance industry will further carve the way for growth of this global video analytics market.
Data Bridge Market Research analyses that the global video analytics system market which was USD 7,133.10 million in 2022, is expected to reach USD 66,376.62 million by 2030, and is expected to undergo a CAGR of 20.9% during the forecast period 2023-2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Video Analytics System Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Software, Services), Deployment (On-Premises, Cloud), Application (Incident Detection, Crowd Management, Intrusion Management, Traffic Monitoring, Automatic Number Plate Recognition, Facial Recognition, Others), Vertical (BFSI, City Surveillance, Critical Infrastructure, Education, Hospitality and Entertainment, Manufacturing, Defense and Border Security, Retail and Consumer Goods, Traffic Management, Transportation, Others), Organization Size (Small and Medium Enterprise, Large Enterprise)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Avigilon Corporation (Canada), Axis Communications AB (Sweden), Cisco Systems, Inc. (U.S.), Honeywell International Inc. (U.S.), Agent Video Intelligence Ltd. (U.S.), AllGoVision Technologies Pvt. Ltd (India), Earth Water Limited (U.S.), Genetec Inc., (Canada), Intellivision (U.S.), Intuvision Inc., (U.S.), Puretech Systems (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Dahua Technology USA Inc. (China), Iomniscient (Australia), NEC Corporation (Japan), Huawei Technologies Co., Ltd. (China), Gorilla Technology Group (Taiwan), ISS corp (U.S.), Verint Systems Inc. (U.S.), Viseum (U.K.), Briefcam (U.S.), Bosch Sicherheitssysteme GmbH (Germany), i2V Systems Pvt. Ltd (India), Cronj (India), Microtraffic Inc., (Canada)
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Market Opportunities
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Market Definition
Video analytics, is defined as integrated into the existing surveillance system, automates the monitoring and management of video feed and provides real-time video analysis for enhanced security, monitoring, and reporting. This automates the management and monitoring of video feeds. The security, healthcare, and retail industries are seeing an increase in demand for video analysis software as it helps maintain visitor and employee security. Intruders and suspicious situations are recognized and detected by video analytics, which also notifies security professionals in order to stop them before they happen.
Global Video Analytics System Market Dynamics
Driver
- High Usage of Drone-Based Video Analytics
Drone usage has grown over the last few years, primarily in the aerospace and defense industries. According to Federal Aviation Administration statistics, there are 1,563,263 drones registered in the US, of which 441,709 are used for commercial purposes. Hard-to-reach areas of numerous locations have had drone inspections conducted. Making a 3600 time-lapse movie of a location is one of the most significant uses of drones. This is done by flying drones repeatedly and carefully over a location to take high-resolution images from every angle. With a 3600-capture area, drones surpass the limitation of traditional cameras.
- Burgeoning Requirement across Transport and Logistics
The logistics and transportation sector now heavily relies on video surveillance. The removal of crowding, behavior analysis, improved safety measures, incident recording, and blind spot detection are just a few of the numerous advantages of video analytics for the transportation and logistics vertical. While improving safety, video analytics can contribute to the improvement and improvement of this niche for commuters. The various capabilities provided by video analytics, such as facial recognition, object tracking, unidentified object detection, cargo and train carriage recognition, and intelligent traffic monitoring, can assist logistics and transportation companies in preventing disasters and spotting new threats that could cause infrastructure destruction or vehicle crashes that result in fatalities.
Opportunity
- Investments and Technological Innovations
The increased government investments for public safety for public transportation sector will further expand the future video analytics system market's growth rate. In addition, the surging adoption of these technological innovations by market players further offer numerous growth opportunities within the market.
Restraint/Challenge
- High Cost to Set-Up the Analytics System
The optimal conditions for the video analytics system are a solid IT foundation and steady connections, which requires huge maintenance costs and investments. Public spaces and poor nations lack the infrastructure necessary for ongoing observation. For the system to be more reliable, regular maintenance is therefore required. Therefore, it is anticipated that the high cost of maintenance and other tasks would be a challenge for suppliers active in the global video analytics market. Moreover, the video analytics systems also further requires high investments. Therefore, the high costs as well as the investments required are further expected to obstruct market growth over the forecast period of 2023 to 2030.
This global video analytics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global video analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In June 2021, Atos SE purchased Ipsotek, a developer of AI-enhanced video analytics software added Ipsotek's software capabilities to its portfolio of Edge AI and Computer Vision solutions
- In December 2021, Senstar Corporation, a provider of perimeter intrusion detection systems (PIDS), video analytics, and management software, worked with IPVideo Corporation to include its Senstar Symphony Common Operating Platform into the HALO IoT Smart Sensor. It is anticipated that this integration will make it easier for HALO users to receive alerts when Senstar Symphony Common Operating Platform data indicates that vaping, chemicals, sounds, gunshots, air quality, or health are beyond of typical ranges or levels
- In July 2020, A video analytics business called Modcam was purchased by Cisco Systems, Inc. It is anticipated that Modcam's solutions will enhance the analytical capabilities of Cisco Meraki MV smart cameras to give their users access to micro-level data
Global Video Analytics System Market Scope
The global video analytics system market is segmented on the basis of type, deployment, application, vertical and organization size. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Software
- Services
Deployment
- On-Premise
- Cloud
Application
- Incident Detection
- Crowd Management
- Intrusion Management
- Traffic Monitoring
- Automatic Number Plate Recognition
- Facial Recognition
- Others
Vertical
- BFSI
- City Surveillance
- Critical Infrastructure
- Education
- Hospitality and Entertainment
- Manufacturing
- Defense and Border Security
- Retail and Consumer Goods
- Traffic Management
- Transportation
- Others
Organization Size
- Small and Medium Enterprise
- Large Enterprise
Global Video Analytics System Market Region Analysis/Insights
The global video analytics system market is analysed and market size insights and trends are provided by country, type, deployment, application, vertical and organization size as referenced above.
The countries covered in the global video analytics system market report are U.S., Canada and Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the global video analytics system market because of the surge in demand for technologically enhanced public safety infrastructure within the region over the forecast period of 2023 to 2030. Moreover, the adoption of video analytics integrated with advanced technologies is further estimated to accelerate the expansion. .
Asia-Pacific is expected to witness significant growth in the global video analytics system market during the forecast period of 2023 to 2030 due to the emerging trend of adopting video analytics in various regional sectors. Moreover, the smart city initiatives significantly contribute to the regional market's expansion.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Video Analytics System Market Share Analysis
The global video analytics system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global video analytics system market.
Some of the major players operating in the global video analytics system market are
- Avigilon Corporation (Canada)
- Axis Communications AB (Sweden)
- Cisco Systems, Inc. (U.S.)
- Honeywell International Inc. (U.S.)
- Agent Video Intelligence Ltd. (U.S.)
- AllGoVision Technologies Pvt. Ltd (India)
- Earth Water Limited (U.S.)
- Genetec Inc., (Canada)
- Intellivision (U.S.)
- Intuvision Inc., (U.S.)
- Puretech Systems (U.S.)
- Hangzhou Hikvision Digital Technology Co., Ltd. (China)
- Dahua Technology USA Inc. (China)
- Iomniscient (Australia)
- NEC Corporation (Japan)
- Huawei Technologies Co., Ltd. (China)
- Gorilla Technology Group (Taiwan)
- ISS corp (U.S.)
- Verint Systems Inc. (U.S.)
- Viseum (U.K.)
- Briefcam (U.S.)
- Bosch Sicherheitssysteme GmbH (Germany)
- i2V Systems Pvt. Ltd (India)
- Cronj (India),
- Microtraffic Inc., (Canada)
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