Video Analytics Market Size, Share, Growth Report 2032

Market Overview

The global video analytics market accounted for USD 5.12 Billion in 2020 and is expected to reach USD 24.61 Billion by 2028, growing at a CAGR of 21.9% from 2021 to 2028.

Video analytics transmits a video signal digitally using an algorithm to perform security related functions. It has been promoted as a solution to provide security by detecting intruders and tracking objects or people.

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COVID-19 Impact Analysis

The outbreak of COVID-19 will impact both demand and supply. It will not decrease demand or supply but lockdown have impacted the transportation which resulted in disruption of the supply and demand chain. The growth in this market is expected to boom in the coming years due to introduction of AI enabled surveillance systems.

Growth Factors

Video analytics is helping many sectors to enhance security and situational awareness. Live and recorded video are the main drivers for the demand for video analytics technology. Video surveillance systems in private or public places helps in reducing crime rate and safeguarding areas by identifying people or number plates on the vehicles.

Further public institutions are expected to invest heavily in this market owing to thefts and crime in the city. Video surveillance helps reducing crime rate, to insure public and infrastructure safety.

Report Scope

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Deployment Segment Analysis Preview

On premise segment held a share of over 30% in 2020. Business operations in On premise are carried out on the server of the user’s company’s site with a server. In recent years, companies have shifted from on premise to cloud deployment as it can highly support and scale unlimited cameras and it also provides real time data. Cloud is other deployment type.

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Application Segment Analysis Preview

Intrusion management segment is projected to grow at a CAGR of around 15% from 2021 to 2028. Intrusion system offers real time videos, if an intruder breaks the security, it generates an alarm along with a video and send it to the VMS Video Management Software to inform the concerned authorities.

Regional Analysis Preview

North America accounted for a share of around 37% in 2020. Enterprises and government in majorly US and Canada has invested heavily on deployment of video analytics system. Rapid technological development and developed economy is helping the growth in this market.

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Asia Pacific is projected to grow at a CAGR of over 22% during the forecast period. Countries like China and India is investing in security surveillance system for the safety of the residents. Middle East and Africa are actively improving their surveillance systems and is expected to grow in future due to a large funding by government into technologies like AI, 5G, cloud, IoT, networking and others.

Key Market Players & Competitive Landscape

Some of key players in video analytics market are Cisco, Avigilon, Axis Communications, AllGoVision, Agent VI, Aventura Systems, i2V, Genetec, IntelliVision, PureTech Systems, intuVision, Qognify, iOmniscient, Honeywell, BriefCam, Digital Barriers, IBM, IPSOTEK, Gorilla Technology, Viseum, KiwiSecurity, DELOPT, Intelligent Security Systems, Hikvision, Verint, Huawei, Senstar, Dahua, Identiv, and Bosch Security, among others. In 2020 July, Cisco Meraki, one of the leading players, acquired Modcam to expand its capabilities in video analytics market.

The global video analytics market is segmented as follows:

By Type

• Services
• Software

By Deployment

• Cloud
• On Premise

By Application

• Crowd Management
• Facial Recognition
• Intrusion Detection
• License Plate Recognition
• Motion Detection
• Others

By End Use

• BFSI
• City
• Critical Infrastructure
• Education
• Government
• Retail
• Transportation
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa