The Global Video Analytics Market Calculated to Obtain $11121.01 Million in Revenue by 2028

According to Triton’s report, in 2020, the global video analytics market garnered $4235.82 million, and is predicted to witness growth at a CAGR of 16.05% by 2028.

A recent study by Triton Market Research titled ‘Global Video Analytics Market’ comprises the Global Analysis and Forecasts by Application (Government, Transport & Logistics, Commercial, Other Applications), Deployment (Cloud, On-premises), Software Types (Crowd Management Software, Detection Software [Object Detection Software, Motion Detection Software, Other Detection Software], Recognition Software [License Plate Recognition Software, Facial Recognition Software]), and by Geography (Asia-Pacific, Middle East and Africa, North America, Latin America, Europe).

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Triton Market Research’s report suggests that the global video analytics market is expected to witness a growth trend, gaining a CAGR of 16.05% throughout 2021-2028. The market is also estimated to gain value worth $11121.01 million by 2028.

Video analytics software helps in analyzing a video to attain specific information. When incorporated in surveillance systems, this solution reduces the need for a human operator and effectively detects data breaches.

Factors such as the rise in the deployment of surveillance cameras, the security benefits offered by video analytics solutions, and the surge in need for surveillance to ensure public safety are stimulating the expansion of the video analytics market. However, the rising capabilities of automated surveillance systems result in the automatic extraction of complex and potentially confidential data of the user. Therefore, the privacy concerns regarding the video analytics systems, paired with the high cost of setup, are impeding the studied market’s evolution to a large extent.

The market for video analytics is broadly sectioned into application, deployment, and software types. The application section is divided into government, transport & logistics, commercial, and other applications. In terms of deployment, it is subdivided into cloud and on-premises. The software types are branched into crowd management software, detection software, and recognition software. The detection software is further categorized into object detection software, motion detection software, and other detection software. While the recognition software is sub-sectioned into license plate recognition software and facial recognition software.

Geographically, the Middle East and Africa is expected to observe the fastest growth rate in the video analytics market over the forecast period. The surge in construction activities has led to the rise in demand for video surveillance across the region. Moreover, the increase in the use of IP surveillance systems has replaced analog surveillance systems, increasing the demand for HD surveillance cameras. In such a scenario, video analytics helps detect data breaches and recognize human behavior in real-time. This further reduces the need for human operators, reducing the expenses for management. Hence, such advantages of video analytics solutions, along with the growing adoption of surveillance systems, are estimated to boost the video analytics market’s expansion.

Mobotix, Intellivision, Huawei, Gorilla Technology, Honeywell, Hikvision, Dahua, Bosch GmbH, i2V, Axis Communications, IBM, Cisco, Genetec, ADT Corporation, and Verint are well-known enterprises thriving in the market.

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Question & Answer: Video Analytics Market

Question 1: What elements are stimulating the expansion of the video analytics market?

Answer: Factors such as the rise in the deployment of surveillance cameras, the security benefits offered by video analytics solutions, and the surge in need for surveillance to ensure public safety are stimulating the expansion of the video analytics market.

Question 2: What factors are impeding the video analytics market’s evolution?

Answer: The rising capabilities of automated surveillance systems result in the automatic extraction of complex and potentially confidential data of the user. Therefore, the privacy concerns regarding the video analytics systems, paired with the high cost of setup, are impeding the studied market’s evolution to a large extent.

Question 3: Which region is expected to observe the fastest growth rate in the video analytics market?

Answer: Geographically, the Middle East and Africa is expected to observe the fastest growth rate in the video analytics market over the forecast period. The surge in construction activities has led to the rise in demand for video surveillance across the region. Moreover, the increase in the use of IP surveillance systems has replaced analog surveillance systems, increasing the demand for HD surveillance cameras. In such a scenario, video analytics helps detect data breaches and recognize human behavior in real-time. This further reduces the need for human operators, reducing the expenses for management. Hence, such advantages of video analytics solutions, along with the growing adoption of surveillance systems, are estimated to boost the video analytics market’s expansion.

Question 4: Which are the well-known enterprises thriving in the video analytics market?

Answer: Mobotix, Intellivision, Huawei, Gorilla Technology, Honeywell, Hikvision, Dahua, Bosch GmbH, i2V, Axis Communications, IBM, Cisco, Genetec, ADT Corporation, and Verint are well-known enterprises thriving in the market.

Related Report:

Global Security Robots Market
The global security robots market is likely to display growth in its revenue during 2021-2028 at a CAGR of 9.35%. It is estimated to gain $2369.09 million by 2028.

Robots hold the potential to counter conflicts and wars without leading to loss of human life. This has encouraged several nations to increase their defense budgets to enhance R&D activities on developing security robots for security and emergency purposes.

Factors such as the rising use of robots for surveillance applications, growing safety concerns, and increasing border conflicts are stimulating the growth of the security robots market globally. Additionally, the growing trend of autonomous operations is widening the scope of the studied market over the forecast period.

However, the lack of development of high-quality and reliable solutions is a major factor that weighs down the security robots market’s progress across the regions.

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