Video Analytics Market 2021 Insights with Statistics and Growth Prediction - Axis Communications AB, Avigilon Corporation (Motorola Solutions), Cisco Systems Inc., Identiv Inc
The Global Video Analytics Market was valued at USD 1528.1 million in 2019, and it is expected to reach USD 4142.7 million by 2025, registering a CAGR of 24.5% during the period of 2020-2025.
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Top Leading Companies of Video Analytics Market are Axis Communications AB, Avigilon Corporation (Motorola Solutions), Cisco Systems Inc., Identiv Inc., Aventura Technologies Inc., Genetec Inc., Honeywell International Inc., Agent Video Intelligence Ltd, Objectvideo Labs LLC, Qognify Limited, NEC Corporation, Herta Security SL, Verint Systems Inc., ISS Inc. and others.
Industry News and Updates
- March 2020 - Motorola Solutions introduced the newest addition to its video security and analytics portfolio, Avigilon Control Center (ACC) 7.6. ACC 7.6 is the company’s latest video management software release, enabling various enterprise customers to efficiently monitor their facilities through new AI-powered facial recognition features and analytics.
- October 2019 - Canon and Agent Video Intelligence formed a partnership to launch the first AI-powered cloud-based video analytics service in Singapore. The collaboration with Agent Vi will enhance Canon’s suite of visual network solutions, offering businesses seamless connectivity with maximum productivity and reduced cost.
Key Market Trends
Retail Industry is expected to Hold Major Share
- Nowadays, in retail stores, a lot of information is being captured in the form of videos used for loss prevention, theft analysis, and post-analysis when a mishap occurs. Real-time video analytics can unravel various insights from videos captured in stores and help in improving store operations and customer experience.
- The retail sector is focusing on deploying innovative solutions to increase security and customer experience as well, for which a few of them are implementing facial recognition technology. From security to advertisements, a multitude of applications of face recognition is being used in retail. From sending customized ads to identified shoppers to identify gender, age, customer count, and capturing glance time on products, the applications are endless.
- The global ad spending is increasing at a steady pace, and in 2019 it stood at USD 563.02 billion, according to GroupM. A significant share of the spending is on gaining consumer insights to target the consumer segment. This is where video analytics finds a prime opportunity, where video analytics can be used for heat mapping, customer services, and reduce retail shrinkage. The growth opportunities in this space are ample for the technology's growth.
Regional Outlook of Video Analytics Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Video Analytics Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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