Global Video Analytics Market Is Set to Soar at a CAGR of 23.3% During 2024-30

The Global Video Analytics Market Research Report by MarkNtel Advisors provides a thorough evaluation of the industry’s current status using the most reliable statistical data, expert opinions, precise definitions, meaningful insights, SWOT analysis, and the latest global advancements. It includes predictions based on logical assumptions and methodologies. The report delves into market segments, encompassing various regions and industries, to offer valuable insights. It meticulously examines different threats and opportunities that can be harnessed to drive growth during the pandemic period.

The forecast period from 2024 to 2030 is expected to witness a substantial 23.3% CAGR in the Global Video Analytics Market. The evolution of more intelligent and powerful IP/network cameras has led to a significant transformation in the surveillance industry in recent years. The increasing adoption of Video Analytics (VA) technology is primarily fueled by governmental initiatives worldwide, aiming to establish robust infrastructures for crime prevention and enhanced security awareness.

When integrated with recognition or detection software, video analytics technology proves to be highly advantageous in enhancing safety, operations, and security. This has propelled the widespread adoption of such software for various applications, including facial recognition, motion detection, traffic control, and intrusion detection. Among the different types of software utilized in the market, detection software holds the largest share due to its extensive usage in government and non-government applications.

Global Video Analytics Market Research Report: Forecast (2024-2030)

  • By Component (Service, Software)
  • By Deployment (On-Premises, Cloud)
  • By Application (Incident Detection, Intrusion Management, People/Crowd Counting, Traffic Monitoring, ANPR, Facial Recognition, Others)
  • By Type (Edged-Based, Server-Based)
  • By Vertical (Banking, Financial Services, and Insurance [BFSI], City Surveillance, Critical Infrastructure, Education, Hospitality and Entertainment, Manufacturing, Defense and Border Security, Retail, Traffic Management, Transportation and Logistics, Others), and others

The analysis outlines the factors that will influence the market’s standing as we move forward into the projection period. The study offers a thorough analysis of the value chain, supply chain, and business operations across various regional markets. To enhance the credibility of this comprehensive research study, a list of reputable companies operating in the market is included, along with descriptions of their product offerings. The study report meticulously analyzes major market segments, along with their respective sub-segments. Industry experts have extensively evaluated the profitability and growth prospects within these segments.

People/Crowd Counting is expected to dominate the Video Analytics Market, holding the largest share. Crowd counting and management pose challenges for police departments and government agencies during events. To address this, integrating advanced surveillance systems with video processing capabilities offers real-time situational alerts to end-users. Video Analytics proves highly advantageous for detecting suspicious actions, analyzing crowd statistics and trends, and estimating crowd size, thereby playing a crucial role in effective crowd management.

Facial recognition is set for rapid market growth in the coming years. The increasing demand for video analytics technology in fraud detection for visas and passports, attendance tracking and management, and criminal identification primarily drives this.

The retail industry commands the leading position in the market share, driven by the increasing demand for monitoring consumer behavior, purchasing patterns, and the time spent by individual customers. Also, the retail sector proactively adopts innovative solutions to improve security measures and customer experiences. Consequently, most retail enterprises are incorporating Voice Assistant (VA) technology, leveraging its significant advantages across various applications such as security and advertising within the retail domain.

The Key players profiled by MarkNtel Advisors in the research report are Avigilon, Cisco, Axis Communications, Agent VI, AllGoVision, Aventura Systems, Genetec, i2V, IntelliVision, intuVision, PureTech Systems, Qognify, Honeywell, IBM, iOmniscient, BriefCam, Digital Barriers, IPSOTEK, Gorilla Technology, Bosch Security.

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