Video Analytics Market Key Manufacturers Development Trends and Competitive Analysis 2028

The "Video Analytics Market" size was valued at US$ 6,624.9 million in 2022 and is projected to reach US$ 21996.0 million by 2028; The video analytics market share is expected to grow at a CAGR of 22.1% from 2022 to 2028.

Leading players in the video analytics market are continuously enhancing their offerings to stay competitive and address customers' evolving needs. This has resulted in the integration of cutting-edge technologies such as artificial intelligence, deep learning, and machine learning into video analytics software. These advanced solutions provide autonomous real-time monitoring and analysis of video content, as demonstrated by Sprint's "Curiosity Smart Video Analytics," which combined technologies from Hitachi Vantara and Ericsson in August 2019. By incorporating these technologies, video analytics solutions can significantly increase accuracy and reduce false alarms, which have been a challenge in surveillance. Additionally, machine learning can aid in the accurate classification of images and objects, among other capabilities. As a result, the integration of these advanced technologies is driving new trends in the video analytics market.

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Companies Profiled in this report includes:

• Avigilon Corporation
• AXIS COMMUNICATIONS
• Agent Video Intelligence Ltd.
• Honeywell International Inc
• AllGoVision Technologies Pvt. Ltd
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Dahua Technology Co., Ltd.
• Huawei Technologies Co., Ltd.
• NEC Corporation
• BriefCam

The video analytics market in North America is further driven by the strong presence of major corporations that require high-level security surveillance systems. The growth is also supported by the availability of technical and technological expertise, increasing demand for real-time actionable information, and a surge in the need for advanced public safety infrastructure. The rise in the number of crimes and accidents has resulted in an increased demand for modern video surveillance systems. To meet this demand, companies in the market are collaborating to provide intelligent security solutions. In addition, the market is also expanding due to the entry of new players such as Retailnext and Capillary Technologies, who provide video analytics services through Wi-Fi identification of mobile devices and data from point-of-sale systems.

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Video Analytics Market Segmentation:

By Component:
• Solution
• Service
• Deployment
• On Premise
• Cloud Based

By Application:
• Crowd Management
• Facial Recognition
• Intrusion Detection
• License Plate Recognition
• Motion Detection

By Vertical:
• BFSI
• Hospitality and Entertainment
• Education
• Manufacturing
• Defense and Border Security
• Retail
• Transportation and Logistics

The presence of numerous security providers and high incidence of security breaches in North America make it a promising market for video analytics. Additionally, the region is known for its rapid adoption of advanced technologies, further fueling market growth. In recent years, governments in North America have intensified their security efforts in response to increasing concerns about protecting critical infrastructure and national borders. The United States and Canada, in particular, are major players in North America, with safeguarding essential infrastructure being a top priority for both countries' administrations. This emphasis on security is driving growth in the video analytics market in the region.

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