Video Analytics System Market to Exhibit a Remarkable Growth of USD 66,376.62 million at a CAGR of 20.9% by 2029, Size, Share, Trends, Key Drivers, Demand, Opportunities and Competitive Outlook

The comprehensive Video Analytics System Market research report, which provides the best experience for the business and the user, is produced using the most sophisticated tools and processes. The market state, market share, growth rate, sales volume, potential and challenges, market drivers, market restraints, revenue generation, risks and entry barriers, sales channels, and distributors are all assessed in this market analysis. This market study may provide a wealth of knowledge and practical business solutions to help you keep one step ahead of the competition. The Video Analytics System Market Analysis Report's competitive landscape section offers a comprehensive understanding of the market share analysis and strategies employed by major industry participants.

Explore Further Details about This Research Video Analytics System Market Report https://www.databridgemarketresearch.com/reports/global-video-analytics-system-market

Rising awareness about the benefits of video analytics over manual video analysis is creating lucrative growth opportunities for the global video analytics market. Rising demand for IP-based security systems by small and medium scale enterprises coupled with surge in volume of unstructured video data will further induce growth in the global video analytics market value. Rising adoption of connected devices by medium and small scale enterprises coupled with government initiatives in emerging technologies to enhance public safety infrastructure will also propel growth in the demand for video analytics. Overall growth and expansion of security and surveillance industry will further carve the way for growth of this global video analytics market.

Data Bridge Market Research analyses that the global video analytics system market which was USD 7,133.10 million in 2022, is expected to reach USD 66,376.62 million by 2030, and is expected to undergo a CAGR of 20.9% during the forecast period 2023-2030.  In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Video analytics, is defined as integrated into the existing surveillance system, automates the monitoring and management of video feed and provides real-time video analysis for enhanced security, monitoring, and reporting. This automates the management and monitoring of video feeds. The security, healthcare, and retail industries are seeing an increase in demand for video analysis software as it helps maintain visitor and employee security. Intruders and suspicious situations are recognized and detected by video analytics, which also notifies security professionals in order to stop them before they happen.

Driver

High Usage of Drone-Based Video Analytics

Drone usage has grown over the last few years, primarily in the aerospace and defense industries. According to Federal Aviation Administration statistics, there are 1,563,263 drones registered in the US, of which 441,709 are used for commercial purposes. Hard-to-reach areas of numerous locations have had drone inspections conducted. Making a 3600 time-lapse movie of a location is one of the most significant uses of drones. This is done by flying drones repeatedly and carefully over a location to take high-resolution images from every angle. With a 3600-capture area, drones surpass the limitation of traditional cameras.

Burgeoning Requirement across Transport and Logistics

The logistics and transportation sector now heavily relies on video surveillance. The removal of crowding, behavior analysis, improved safety measures, incident recording, and blind spot detection are just a few of the numerous advantages of video analytics for the transportation and logistics vertical. While improving safety, video analytics can contribute to the improvement and improvement of this niche for commuters. The various capabilities provided by video analytics, such as facial recognition, object tracking, unidentified object detection, cargo and train carriage recognition, and intelligent traffic monitoring, can assist logistics and transportation companies in preventing disasters and spotting new threats that could cause infrastructure destruction or vehicle crashes that result in fatalities.

 Recent Developments

In June 2021, Atos SE purchased Ipsotek, a developer of AI-enhanced video analytics software added Ipsotek's software capabilities to its portfolio of Edge AI and Computer Vision solutions
In December 2021, Senstar Corporation, a provider of perimeter intrusion detection systems (PIDS), video analytics, and management software, worked with IPVideo Corporation to include its Senstar Symphony Common Operating Platform into the HALO IoT Smart Sensor. It is anticipated that this integration will make it easier for HALO users to receive alerts when Senstar Symphony Common Operating Platform data indicates that vaping, chemicals, sounds, gunshots, air quality, or health are beyond of typical ranges or levels
In July 2020, A video analytics business called Modcam was purchased by Cisco Systems, Inc. It is anticipated that Modcam's solutions will enhance the analytical capabilities of Cisco Meraki MV smart cameras to give their users access to micro-level data
Global Video Analytics System Market Scope

The global video analytics system market is segmented on the basis of type, deployment, application, vertical and organization size. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Software
Services

 Deployment

On-Premise
Cloud

 Application

Incident Detection
Crowd Management
Intrusion Management
Traffic Monitoring
Automatic Number Plate Recognition
Facial Recognition
Others

Vertical

BFSI
City Surveillance
Critical Infrastructure
Education
Hospitality and Entertainment
Manufacturing
Defense and Border Security
Retail and Consumer Goods
Traffic Management
Transportation
Others

 Organization Size

Small and Medium Enterprise
Large Enterprise

Some of the major players operating in the global video analytics system market are

Avigilon Corporation (Canada)
Axis Communications AB (Sweden)
Cisco Systems, Inc. (U.S.)
Honeywell International Inc. (U.S.)
Agent Video Intelligence Ltd. (U.S.)
AllGoVision Technologies Pvt. Ltd (India)
Earth Water Limited (U.S.)
Genetec Inc., (Canada)
Intellivision (U.S.)
Intuvision Inc., (U.S.)
Puretech Systems (U.S.)
Hangzhou Hikvision Digital Technology Co., Ltd. (China)
Dahua Technology USA Inc. (China)
Iomniscient (Australia)
NEC Corporation (Japan)
Huawei Technologies Co., Ltd. (China)
Gorilla Technology Group (Taiwan)
ISS corp (U.S.)
Verint Systems Inc. (U.S.)
Viseum (U.K.)
Briefcam (U.S.)
Bosch Sicherheitssysteme GmbH (Germany)
i2V Systems Pvt. Ltd  (India)
Cronj (India),
Microtraffic Inc., (Canada)

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