Video Analytics Market Evolving Technology, Trends and Demand 2021 to 2027 | Axis Communications AB, Avigilon Corporation (Motorola Solutions), Cisco Systems Inc., Identiv Inc
The 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 forecast period of 2020-2025
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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendors/manufacturers in the market. The key manufacturers covered in this report: 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.
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 companys 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 Canons suite of visual network solutions, offering businesses seamless connectivity with maximum productivity and reduced cost.
- In October 2019, US-based industrial AI product company, Flutura Decision Sciences, and Analytics, launched the Video Analytics module in the Cerebra platform. It is a central safety monitoring system that enables features, like hard hat violation detection, detection of welding defects in X-Ray images, restricted zone violations for unknown objects or persons, and real-time object detection.
Analytics has enabled various end-users in the usage of specific data insights into actionable intelligence for numerous functions. The ideas could be used in monitoring the queues in retail outlets and hospitals, generate heat maps, etc. The surveillance and retail industries are expected to drive the market positively during the forecast period.
- The video-analytics are being deployed in the city, retail, vehicle, and worksite settings and are being used to acquire insights for decision making. The video surveillance sector uses it for analyzing threats, recognizing, mitigating, and monitoring purposes. China is investing heavily in the capabilities of facial recognition. According to Tsinghua University, China's market size is expected to reach CNY 34 billion in biometric recognition technologies.
- Video analytics is not only being deployed for producing customer movement heatmaps and store planning but is also widely being adopted to tackle organized retail crime. Inpixon, a company that engages in indoor positioning and data analytics, collaborated with the National Anti-Organized Retail Crime Association (NAORCA Worldwide) to fight against retail crime.
- The retail industry is increasingly adopting video analytics and emerging as one of the prominent markets. The growing retail market is also driving the demand; according to the US Census Bureau, the whole retail and food services sales in the US during the year 2018 stood at USD 6.02 trillion.
Regional and Country-level Analysis
North America is expected to hold major share
- North America is one of the most significant regions for the video analytics market. The region, especially the United States, is one of the major innovators and investors of the technology. Apart from that, high adoption among end-user industries and regional government involvement in video surveillance infrastructure development is further fuelling the adoption of video analytics solutions in North America.
- Post 9/11, the massive advancement in IP cameras, and their implementation across the region also developed the space for the market studied growth in the last decade. Most of the regional municipal law enforcement is leveraging video analytics for real-time response and post-event investigation, and cities are also using the data for urban planning and traffic optimization. The majority of the American cities have been aggressive in installing surveillance infrastructure, including Detroit, which recently installed cameras to monitor public housing residents. After a man was fatally shot in St. Paul in 2019, the police department tested out new video technology.
Segment by Type
Segment by Application
Automatic Number Plate Recognition
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Video Analytics Analysis and Strategies Carry Out as below:
The report elucidates a gist of the tried-and-tested as well as innovative strategies undertaken by potential stakeholders with regards to the marketing of the product.
The sales channels chosen (that include direct as well as indirect marketing) by the companies are briefly enumerated in the Video Analytics market report.
The distributors of these products and a gist of the top-of-the-notch customers for the same are also encompassed in the study.
The report is inclusive of the pivotal driving forces influencing the commercialization landscape of the Video Analytics market and their impact on the revenue scale of this business sphere.
The rising product demand from the key geographies as well as the pivotal applications and potential business arenas are also included in the Video Analytics Market report.
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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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