Video Analytics Market Future Growth with Technology and Outlook 2020 to 2026 | Cisco Systems Inc., Axis Communications, Genetec Inc., etc.

The Global Video Analytics Market is forecast to reach USD 19.04 Billion by 2026, according to a new report by Reports and Data. Video analytics is a computerized procedure and automatic analysis of the video content generated, collected, or monitored during video inspection. A large volume of video data is generated through video monitoring in city surveillance, industries, and through social media and sites, and it also demands lots of space for storage. Video analytics automates video surveillance procedure by delivering high-end advantages to users with reduced cost and competent service delivery.

The report includes the latest coverage of the impact of COVID-19 on the Video Analytics industry. The incidence has affected nearly every aspect of the business domain. This study evaluates the current scenario and predicts future outcomes of the pandemic on the global economy.

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Key participants are International Business Machines Corporation, Cisco Systems Inc., Axis Communications, Genetec Inc., Agent Video Intelligence Ltd, Honeywell International Inc., Aventura Technologies Inc., Qognify, Avigilon Corporation, and Puretech Systems Inc., among others.

For the purpose of this report, Reports and Data have segmented into the global video analytics market on the basis of deployment type, application type, end-users, and region:

Deployment Type Outlook (Revenue, USD Billion; 2016-2026)
• On-Premise
• Cloud-Based

Application Type Outlook (Revenue, USD Billion; 2016-2026)
• Traffic Monitoring
• Intrusion Management
• Crowd Monitoring
• Automatic Number Plate Recognition
• Others

End-Users Outlook (Revenue, USD Billion; 2016-2026)
• BFSI
• Transportation
• Retail
• Defense and Government
• Travel and Hospitality
• Others

Regional Outlook (Revenue, USD Billion; 2016-2026)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America
• Others

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Factors such as an escalation in demand for industrial automation drives the demand for video analytics across various industries such as banking, retail, financial services, airports, manufacturing, and others. In addition, a rise in demand for IP-based security operations and infrastructure and increase in concern overprotection and security to life as well as assets are anticipated to fuel the video analytics market growth during the forecast period.

An increase in the number of false alarms during bad weather or poor lighting conditions and the huge cost of initial installment are anticipated to hamper the video analytics market growth. Furthermore, the rise in requirement of business intelligence and insights, and increase in need of edge-based analytics and recognizing & profiling applications are the major factors expected to provide opportunities for the market growth.

In the region of Asia Pacific, with an increase in the rate of criminal activities, as well as the requirement for the security of the population, pushes the market growth for the video analytics. The developing countries are looking at India and China as the global market leaders because of the utilization of the Internet of Things (IoT) in several walks of life. The new software developments in this field can identify a person from a database of billions, which makes it commercially viable, making it a growth factor for the market.

Further key findings from the report suggest

• Crowd monitoring segment is set to experience the highest CAGR of 23.8% during the forecast period. Crowd monitoring is very important because of the surveillance of crowds in the highly populated regions. Newer technologies help in the segregation of people and help in locating criminals.

• On-Premise solutions segment held a market share of 53.8% in the year 2018. On-premise solutions were the only available resort for video analytics owing to the high costs for cloud solutions. Hardware solutions posed as the cheaper alternative for surveillance and hence was adopted in services.

• BFSI segment is expected to experience the highest CAGR of 25.0% during the forecast period. Banking and Finance required the highest security protocols to be implemented in order to prevent breach in security.

• Asia Pacific is estimated to experience the highest CAGR of 24.3% during the forecast period. Countries like China and India are rapidly catching up with the growth in the video surveillance market. YITU Technology, which supplies Dragonfly Eye System, a facial scanning platform, is growing the influence of video analytics in China.

Browse the comprehensive TOC and data tables @ https://www.reportsanddata.com/report-detail/video-analytics-market

In conclusion, the Video Analytics Market report is a reliable source for accessing the Market data that will exponentially accelerate your business. The report provides the principal locale, economic scenarios with the item value, benefit, supply, limit, generation, request, Market development rate, and figure and so on. Besides, the report presents a new task SWOT analysis, speculation attainability investigation, and venture return investigation.

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