Video Analytics Market 2020: Research Analysis, Strategies, Business Plan, Revenue & Forecast by 2026 | AllGoVision Technologies Pvt. Ltd, Aventura Technologies, Inc., Axis Communications AB, Cisco Systems

The video analytics market in Asia-Pacific is projected to grow at a significant rate during the forecast period, owing to increase in internet penetration, rise in proliferation of video cameras for surveillance as well as security reasons, increasing investment on smart city projects and strong economic growth in emerging economies.

The video analytics market is driven by increasing demand for IP-based security systems, growing concern over public safety & security, and increasing volume of unstructured video data. On the other hand, the high cost of initial installment and an increase in the number of false alarms during bad weather or poor lighting conditions hamper the growth of the market. However, increase in need of edge-based analytics and recognizing & profiling applications, and rise in requirement of business intelligence and insights are the major factors expected to provide opportunities for the market growth.

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The global video analytics market contributed $3.107 billion in 2017 and is estimated to garner $14.443 billion by 2025, growing at a CAGR of 21.4% from 2018 to 2025.

Video surveillance produces a large volume of video data in city surveillance, industries, and through social media and sites. This requires a huge amount of storage space to save all the data and retrieve it back whenever needed. Video analytics is an automatic analysis and computerized processing of the video content collected, generated, or monitored during video surveillance. Video surveillance process is automated through video analytics by delivering high-end benefits to the users with reduced cost and efficient service delivery.

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Software segment dominated the overall video analytics market share in 2017. Based on the component, this segment is expected to remain dominating during the forecast period. However, the service segment is estimated to exhibit significant growth rate due to the increase in adoption of digital technologies across different industries and need to provide enhanced and better services.

The cloud segment is expected to exhibit significant growth rate in the global video analytics market. This is due to less maintenance cost, ease of use, and low investment. The large enterprise's segment contributed the highest revenue for the global video analytics market share in 2017. This was due to rise in awareness of security events and an increase in need to safeguard data.

Pandemic disrupted the entire world and affected many industries.

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The key players included in the report are Quognify, AllGoVision Technologies Pvt. Ltd, Verint Systems, Inc., Aventura Technologies, Inc., PureTech Systems, Inc., Axis Communications AB, IBM Corporation, Intellivision, Cisco Systems, Inc., and Honeywell International, Inc.

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