Video Analytics Market Insights, Growth, Trends And Forecast By 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Video Analytics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $17.14 billion In 2028 At A CAGR Of 20.0% :

The video analytics market size has grown exponentially in recent years. It will grow from $6.88 billion in 2023 to $8.25 billion in 2024 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to surge in security concerns, retail optimization needs, traffic management solutions, public safety and emergency response, operational efficiency in industries.

The video analytics market size is expected to see exponential growth in the next few years. It will grow to $17.14 billion in 2028 at a compound annual growth rate (CAGR) of 20.0%. The growth in the forecast period can be attributed to growing adoption in smart cities, retail and customer experience enhancement, health and safety compliance. Major trends in the forecast period include emotion and sentiment analysis, integration with IoT sensors, automated license plate recognition (ALPR), real-time crowd monitoring, customizable and open architecture solutions.

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Video Analytics Market Major Segments
The video analytics market covered in this report is segmented -
1) By Component: Software, Services
2) By Organization Size: Small And Medium Enterprises, Large enterprise
3) By Deployment Model: On-Premise, Cloud
4) By End User: BFSI, Retail, Critical Infrastructure, Transportation And Logistics, Hospitality And Entertainment, Defense And Security, Other End-users

Key Driver - The Role Of Video Analytics In Crime Reduction

The drop-in crime rate due to surveillance cameras is expected to propel the growth of the video analytics market. Surveillance cameras produce a large number of videos and are an essential part of securing any infrastructure. Video analytics helps in reducing crime rates by automatically tracking and gaining reliable insights from video frames, thus reducing the chances of negligence or human errors. For instance, in 2021, according to a systematic review of rigorous studies in the US and UK concerning the crime prevention impact of CCTV, stated that CCTV resulted in a reduction of crimes, especially theft and robberies, in focal areas, and it had been the most effective in public transport schemes (23% reduction) and car parks (more than a 50% decrease). Therefore, the drop in crime rate due to surveillance cameras will drive the video analytics market growth.

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Prominent Trend - Dahlmeier's Breakthrough In Maritime Video Analytics

Technological advancements are a key trend gaining popularity in the video analytics market. Major players in the market are focusing on advanced technologies to lead the market. For instance, in September 2022, Dallmeier Electronic GmbH & Co. KG, a Germany-based manufacturer of video security technology, introduced Sedor AI, artificial intelligence-based video analytics for maritime applications. Sedor AI software is designed to detect watercraft on open water surfaces in normal conditions as well as difficult environmental conditions such as waves and water reflections. The software application helps port operators and refineries to protect against unauthorized access from the waterside and associated risks such as terrorist attacks and piracy and it also complies with legal regulations such as the ISPS (International Ship and Port Facility SecurityCode).

Video Analytics Market Players
Major companies operating in the video analytics market report are Huawei Technologies Co Ltd., Intell Vision Technologies Corp, IBM Corporation, Cisco Inc., Honeywell Inc., Hangzhou Hikvision Digital Technology Co Ltd., Motorola Solutions Inc., Dahua Technology Co Ltd., Axis Communications AB, Avigilon Corporation, Verint Systems Inc., Calipsa Ltd., Genetec Inc., Vivotek Inc., Bosch Security and Safety Systems I Global, Synectics plc, Qognify Inc., BriefCam Ltd., Gorilla Technology Group Inc., PureTech Systems Inc., Aventura Technologies Inc., Kairos Technologies Inc., Camio Inc., KiwiSecurity Services Ltd., Sighthound Inc., Citilog Inc., Agent Video Intelligence Inc., Solink Corporation, AllGoVision Technologies Pvt Ltd., Viseum Limited

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Largest And Fastest Growing Region In The Market
North America was the largest region in the video analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Video Analytics Market Report Structure
3. Video Analytics Market Trends And Strategies
4. Video Analytics Market - Macro Economic Scenario
5. Video Analytics Market Size And Growth
…..
27. Video Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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