Global Video Analytics Market Projected to Reach US$ 32.62 Billion by 2029, Driven by Increasing Demand for Real-Time Event Detection

The Global Video Analytics Market continues its rapid expansion, with the market valued at US$ 7.79 Billion in 2022 and forecasted to reach US$ 32.62 Billion by 2029, reflecting a remarkable CAGR of 22.7% during the forecast period. The market's growth is fueled by the rising need for real-time event detection and the deployment of AI-enabled video analytics solutions across various industries.

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Report Scope:

Our latest report on the Global Video Analytics Market provides comprehensive insights into market values, drivers, restraints, and regional dynamics. With a detailed analysis of key stakeholders and recent developments, the report offers invaluable insights for decision-makers seeking to capitalize on emerging opportunities in the video analytics landscape.

Research Methodology:

Employing a robust research methodology encompassing both primary and secondary research, alongside advanced analytical tools, our report delivers accurate forecasts and actionable insights. By analyzing complex data in a simple language, we empower decision-makers with the information needed to navigate the evolving video analytics market effectively.

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Market Drivers:

Increasing Demand for Real-Time Event Detection: Video analytics software enables instant alerts, enhancing situational awareness across various business sectors and driving market growth.

Deployment of AI-Enabled Solutions: The adoption of AI-enabled video analytics solutions is rapidly increasing globally, contributing to enhanced surveillance capabilities and improved video clarity.

Market Restraints:

Cybersecurity Concerns: Growing cyber-attacks and data theft activities pose challenges to market growth, necessitating robust security measures to safeguard sensitive information.

Legacy System Investments: Slow investment in advanced solutions due to existing legacy monitoring systems may hinder market growth, particularly in established enterprises.

Regional Insights:

North America: North America dominates the video analytics market, driven by technological advancements and a shift towards cloud deployment to meet evolving security needs.

Asia Pacific: Significant economic growth in countries like India, China, and Indonesia fuels market expansion, with increased investment in advanced security surveillance systems driving demand for video analytics solutions.

Recent Developments:

Cisco's acquisition of Kenna Security in June 2021 and Avigilon's release of an artificial intelligence network video recorder in February 2021 highlight ongoing innovation and integration of advanced technologies in the video analytics market.

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Video Analytics Market Segmentation:

by Deployment

Cloud
On-Premise

In 2022, the on-premise sector had the biggest market share, based on the type of deployment. Applications that process large amounts of private and sensitive data frequently employ this strategy. These data volumes contain video feeds of company processes, including secret information and essential insights, as well as surveillance material from both internal and external sources. For on-premises deployment, businesses must install the required hardware, which includes the operating system, servers, storage devices, cameras, routers, and video analytics software. On-premises video analytics are being used by a number of large companies due to concerns over security and privacy regarding personal data.

by Component

Software
Services

by Application

Facial Recognition & Detection
Incident Detection
Perimeter Intrusion Detection
Crowd Detection & Management
Traffic & Parking Management
Others

by Verticals

Transportation/logistic
BFSI
Retail
Government
Manufacturing
Others

The transport and logistics industry had the biggest market share in 2022, according to verticals. Video analytics offers several advantages to the transportation and logistics industry, including the elimination of crowding, improved security protocols, event documentation, behavioral analysis, and the identification of blind spots. Video analysis offers increased security benefits while strengthening and enhancing this vertical area for commuters. Video analytics can perform a number of tasks for transportation and logistics companies, including face recognition, object tracking, unknown object detection, cargo and train car recognition, and intelligent traffic monitoring. These functions can help prevent disasters and identify new threats or vehicle collisions that could damage infrastructure and result in fatalities.

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Video Analytics Market Key Players:

1. Avigilon
2. Axis Communications
3. Cisco
4. Honeywell
5. Agent Vi
6. Allgovision
7. Aventura Systems
8. Genetec
9. Intellivision
10. Intuvision
11. Puretech Systems
12. Hikvision
13. Dahua
14. Iomniscient
15. Huawei
16. Gorilla Technology
17. Intelligent Security Systems
18. Verint
19. Viseum
20. NEC
21. Briefcam
22. Bosch Security
23. i2V
24. Digital Barrier

Table of content for the Video Analytics Market includes:

Global Video Analytics Market: Research Methodology
Global Video Analytics Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Video Analytics Market: Competitive Analysis

MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact

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Key Offerings:

A detailed Market Overview
Market Share, Size, and Forecast by Revenue
Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
Market Segmentation- A detailed analysis of each segment and their segments
Competitive Landscape - Leading key players and other prominent key players.

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