Video Analytics Market Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027

Video Analytics Market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics have been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio, and recent developments. The Market share and Market size prominent players for 2022 to 2027 are profiled in this report.

Video Analytics Market is envisaged to record an expansion at the CAGR of 21% over the forecast period, 2022 - 2028

Competitive Landscape:

 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.,  International Business Machines Corporation and Others

Industry News:

- 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.

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Scope of the Report

- The video-analytics are being deployed in the city, retail, vehicle, and worksite settings and 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 being deployed to produce customer movement heatmaps and store planning and is also widely 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.

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.

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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 further fuels the adoption of video analytics solutions in North America.
- The region has high adoption of CCTV cameras in various surveillance settings, from street corners to university campuses and even private homes. Most of these sites have multiple cameras, each generating a high volume of footage. In the United States alone, there are about more than 70 million surveillance cameras installed, which works out to 4.6 people per installed camera. The country has a high level of penetration of surveillance cameras, with the adoption is most common among private-sector retail and commercial establishments, such as hotels, restaurants, and office complexes.

Highlights about Video Analytics Market report coverage:

- A complete background analysis, which includes an assessment of the Global Video Analytics Market.

- Important changes in Video Analytics Market dynamics

- Video Analytics Market segmentation up to the second & third level regional bifurcation

- Historical, current, and projected size of the Video Analytics Market with respect to both value (Revenue) and volume (Production & Consumption)

- Reporting and evaluation of recent Video Analytics Market industry developments

- Video Analytics Market shares and strategies of key players

- Emerging niche Video Analytics Market segments and regional markets

- An objective assessment of the trajectory of the Video Analytics Market .

- Recommendations to companies for strengthening their foothold in the Video Analytics Market .

The research includes historic data from 2016 to 2022 and forecasts until 2027 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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This release was published on openPR.