Press release
Video Analytics Market was USD 6.1 billion in 2021, and is estimated to reach USD 17.5 billion in 2029, increasing at 14.2% CAGR till 2029 | Size, Growth & Forecast
Video Analytics Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/video-analytics-market/
The factors driving growth of the Video Analytics Market includes growing demand for intelligent security surveillance systems, increasing incidences of theft at workplace, rising installation of CCTV cameras at buildings and improvements in the living standards. Moreover, increasing application of video analytics solutions for intrusion detection, license plate recognition and crowd management, growing adoption of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in video analytics solutions and rapid urbanization, are some of the additional factors supplementing the Video Analytics Market size. In addition, the increasing investments by major corporations on research and development, strategic mergers, and partnerships between enterprises, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Video Analytics Market is hindered due to Government regulations related to CCTV surveillance.
The leading players operating in the market are Bosch Sicherheitssysteme GmbH, Aventura Technologies Inc, IntelliVision, Verint, Honeywell International Inc, Cisco Systems Inc, IBM Corporation, PureTech Systems, Qognify and AllGoVision Technologies Pvt. Ltd, among others.
Based on Vertical, the Transportation & Logistics segment is predicted to grow at a significant CAGR during the forecast period
Increasing application of video analytics solutions in the transportation and logistics industry for incident recording, detecting blind spots and improving safety measures, are some of the features propelling Global Video Analytics Market.
Based on Deployment, the On-Premises segment is projected to expand at a remarkable CAGR over the forecast period
As per the Video Analytics Market Research, on-premises deployment allows the installation of the software and enables applications to run on systems present, which helps organizations to prevent cyber-attacks, is pushing growth of the segment.
Based on Region, the North American region is anticipated to capture the largest market share during the forecast period
Presence of the leading players such as Cisco Systems Inc, IBM Corporation and Verint, technological advancements in CCTVs, increase in Government's expenditure on the construction of smart cities, rapid industrialization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.
Key Developments
In 2021, Milestone collaborated with Briefcam to develop XProtect Rapid REVIEW video analytics technology which will able customers to accelerate investigation and find what they are looking for with accuracy and speed.
In 2021, Mavenir introduced Intelligent Video Analytics (IVA) offering, in a move which further demonstrates a broadening of its technological capability to complement its range of communication services based on Open RAN technology.
Market Segmentation
Segmentation by Vertical
Retail
Hospitality
Transportation & Logistics
Defence and Security
Mining
Others
Segmentation by Deployment
On-Premises
Cloud
Segmentation by Component
Solution
Services
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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