openPR Logo
Press release

Video Analytics Market 2024: Size, Share, and Trends Analysis

06-13-2024 02:21 PM CET | IT, New Media & Software

Press release from: Market digits

Video analytics refers to the use of advanced algorithms and software to analyze video data from surveillance cameras or other sources. It enables automated monitoring, extraction of meaningful insights, and real-time decision-making across various industries. The market for video analytics has been expanding rapidly due to advancements in artificial intelligence (AI), machine learning (ML), and computer vision technologies.

Download a Free sample copy of Report:
https://www.marketdigits.com/request/sample/269

Market Size and Growth

The global video analytics market has experienced robust growth and is expected to continue expanding significantly. In 2023, the market size was estimated at approximately $5.8 billion and is projected to grow at a compound annual growth rate (CAGR) of around 22% from 2024 to 2030. This growth is driven by increasing security concerns, demand for operational efficiency, and the integration of video analytics with IoT (Internet of Things) and cloud computing platforms.

Major players in Video Analytics Market include: AllGoVision Technologies Pvt. Ltd, Aventura Technologies, Inc., Axis Communications AB, Cisco Systems, Inc., Honeywell International, Inc., IBM Corporation, Intellivision, PureTech Systems, Inc., Verint Systems, Inc., Quognify, MobotixAG, i2V Systems Pvt. Ltd., Huawei Technologies Co. Ltd., Hangzhou Hikvision Digital Technology Co., Ltd., Gorilla Technology Group, Inc., Genetec, Inc., Zhejiang Dahua Technology Co., Ltd., Robert Bosch GmbH and ADT, Inc. among others.

Key Trends

AI and Deep Learning Integration: Advances in AI and deep learning have revolutionized video analytics by enabling more accurate object detection, behavior analysis, and anomaly detection. These technologies enhance the capabilities of video surveillance systems to automatically detect and respond to security threats in real-time.

Edge Computing: The adoption of edge computing architectures allows video analytics to process data closer to the source (e.g., cameras), reducing latency and bandwidth requirements. This trend is crucial for applications requiring real-time responses, such as smart cities and autonomous vehicles.

Cloud-Based Solutions: Cloud-based video analytics platforms offer scalability, remote access, and integration with other IoT devices and systems. They are increasingly preferred for their flexibility and ability to handle large volumes of video data efficiently.

Applications in Retail and Marketing: Video analytics is extensively used in retail environments for customer behavior analysis, queue management, and personalized marketing strategies. It helps retailers optimize store layouts, improve customer service, and enhance operational efficiency.

Smart Cities and Public Safety: Governments and urban planners are deploying video analytics to enhance public safety, traffic management, and urban infrastructure monitoring. AI-powered video surveillance systems can detect incidents, manage traffic flow, and ensure rapid response to emergencies.

Major Classifications are as follows:

By Component

Software
Services

By Deployment Mode

On-premises
Cloud

By Application

Incident Detection
Intrusion Management
People/Crowd Counting
Traffic Monitoring
ANPR
Facial Recognition
Others (AR and Ego-Motion Estimation)

By Type

Edged-Based
Server-Based

By Organization Size

SME's
Large Enterprises

By Vertical

BFSI
City Surveillance
Critical Infrastructure
Education
Hospitality and Entertainment
Manufacturing
Defense and Border Security
Retail
Traffic Management
Transportation & Logistics
Others (Healthcare and Life Sciences and Construction)

Key Players and Competitive Landscape

The video analytics market features a diverse range of companies offering specialized solutions. Key players include Axis Communications, Avigilon (a Motorola Solutions company), Bosch Security Systems, Honeywell International Inc., and IBM Corporation. These companies dominate the market by leveraging their expertise in AI, software development, and hardware integration. Strategic initiatives include:

Axis Communications: Known for its network cameras and video management software, Axis integrates video analytics capabilities to enhance security and operational efficiency.

Avigilon (Motorola Solutions): Provides AI-powered video analytics solutions for security, surveillance, and business intelligence applications, focusing on high-definition video quality and advanced analytics.

Bosch Security Systems: Offers a wide range of video surveillance products integrated with advanced video analytics features, including facial recognition, object tracking, and crowd management.

Honeywell International Inc.: Provides video analytics solutions for industrial and commercial applications, emphasizing safety, compliance, and operational efficiency.

IBM Corporation: Leverages its AI and cloud computing expertise to deliver scalable video analytics solutions for diverse sectors, including healthcare, transportation, and smart cities.

Recent Industry News

Advancements in AI Algorithms: Recent developments include AI algorithms capable of detecting complex events and anomalies, such as unauthorized access, crowd disturbances, and abnormal behavior patterns.

Partnerships and Collaborations: Companies are forming strategic partnerships to integrate video analytics with complementary technologies, such as IoT platforms, to offer comprehensive solutions for smart cities and industrial automation.

Regulatory Developments: With increasing concerns over data privacy and security, regulatory frameworks governing the use of video analytics are evolving. Compliance with regulations is becoming a priority for market players.

Expansion in Emerging Markets: The adoption of video analytics is growing in emerging economies due to urbanization, infrastructure development, and increasing investments in security and public safety.

Investments in R&D: Significant investments are being made in research and development to enhance the accuracy, scalability, and real-time capabilities of video analytics systems. Startups and established companies alike are focusing on innovation to gain a competitive edge.

Get this report at a discount:
https://www.marketdigits.com/request/discount/269

Challenges and Future Outlook
Despite its rapid growth, the video analytics market faces challenges such as concerns over data privacy, interoperability issues between different systems, and the complexity of integrating AI into existing infrastructures. Overcoming these challenges requires industry collaboration, technological innovation, and adherence to regulatory standards.

Looking ahead, the video analytics market is poised for continued expansion driven by advancements in AI, cloud computing, and IoT. As organizations across various sectors increasingly recognize the value of actionable insights derived from video data, the adoption of sophisticated video analytics solutions is expected to become more widespread, transforming how businesses and governments utilize surveillance and monitoring technologies.

For More Realated Reports:

BFSI Crisis Management Market: https://www.globenewswire.com/en/news-release/2023/11/28/2786688/0/en/BFSI-Crisis-Management-Market-projected-to-reach-USD-45-8-Billion-by-2030-growing-at-a-CAGR-of-19-2-during-the-forecast-period-of-2023-2030-pronounced-by-MarketDigits-in-its-recent.html 

Digital Freight Matching Market: https://www.globenewswire.com/en/news-release/2023/11/30/2788617/0/en/Digital-Freight-Matching-Market-projected-to-reach-USD-65-5-Billion-by-2030-growing-at-a-CAGR-of-15-5-during-the-forecast-period-of-2023-2030-claims-by-MarketDigits-in-its-recent-s.html 

Contact Us:
1248 CarMia Way Richmond,
VA 23235, United States.
Phone: +1 510-730-3200
Email: sales@marketdigits.com
Website: https://www.marketdigits.com

About MarketDigits:

MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas, thereby assisting them in operational and strategic decision-making. We at MarketDigits believe that a market is a small place and an interface between the supplier and the consumer, thus our focus remains mainly on business research that includes the entire value chain and not only the markets.

We offer services that are most relevant and beneficial to the users, which help businesses to sustain themselves in this competitive market. Our detailed and in-depth analysis of the markets catering to strategic, tactical, and operational data analysis & reporting needs of various industries utilize advanced technology so that our clients get better insights into the markets and identify lucrative opportunities and areas of incremental revenues.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Video Analytics Market 2024: Size, Share, and Trends Analysis here

News-ID: 3537654 • Views:

More Releases from Market digits

Human Microbiome Market is forecasted to reach USD 2,555 Million by 2030, demonstrating a robust CAGR of 35.8 Percentage | (Viome Life Sciences, Inc., BIOHM Health, DayTwo) - published by MarketDigits
Human Microbiome Market is forecasted to reach USD 2,555 Million by 2030, demons …
Human Microbiome Market Scope: Market size value in 2023 - USD 300 Million Market size value in 2030 - USD 2,555 Million CAGR (2023-2030) - 35.8% Forecast Period - 2023-2030 Segments Covered - Product, Type, Disease, Application and Region. Geographies Covered - North America, Europe, Asia Pacific, and Row Sample of Companies Covered - Atlas Biomed, Bione Ventures Private Limited, Luxia Scientific, Metabiomics, Sun Genomics, Seed Health, Gnubiotics Sciences. Download Sample Pages-https://www.marketdigits.com/request/sample/3619 Browse in-depth TOC on
Human Microbiome Market is forecasted to reach USD 2,555 Million by 2030, demonstrating a robust CAGR of 35.8 Percentage | (Viome Life Sciences, Inc., BIOHM Health, DayTwo) - published by MarketDigits
Human Microbiome Market is forecasted to reach USD 2,555 Million by 2030, demons …
Human Microbiome Market Scope: Market size value in 2023 - USD 300 Million Market size value in 2030 - USD 2,555 Million CAGR (2023-2030) - 35.8% Forecast Period - 2023-2030 Segments Covered - Product, Type, Disease, Application and Region. Geographies Covered - North America, Europe, Asia Pacific, and Row Sample of Companies Covered - Atlas Biomed, Bione Ventures Private Limited, Luxia Scientific, Metabiomics, Sun Genomics, Seed Health, Gnubiotics Sciences. Download Sample Pages-https://www.marketdigits.com/request/sample/3619 Browse in-depth TOC on
Healthcare Cyber Security Market Set to Surpass USD 53.23 Billion by 2030 - published by MarketDigits
Healthcare Cyber Security Market Set to Surpass USD 53.23 Billion by 2030 - publ …
Healthcare Cyber Security Market Scope: Market size value in 2023 - USD 17.27 Billion Market size value in 2030 - USD 53.23 Billion CAGR (2023-2030) - 17.45 % Forecast Period - 2023-2030 Segments Covered - Type of Solution, Type of Threat, End-Use, Type of Security and Region Geographies Covered - North America, Europe, Asia Pacific, and Row Sample of Companies Covered - Cisco, IBM, FireEye, Symantec, Trend Micro, MacAfee, Intel, Kaspersky, Lockheed Martin. Download Sample
Grid Scale Battery Market Size:CAGR of 4.4% during the forecast period Forecast period 2023-2030 | ABB, BYD Co Ltd, S&C Electric Co, Tesla Inc, Toshiba Corporation - published by MarketDigits
Grid Scale Battery Market Size:CAGR of 4.4% during the forecast period Forecast …
Grid Scale Battery Market Scope: Market size value in 2023 - USD 5397 Billion Market size value in 2030 - USD 1,268.5 Billion CAGR (2023-2030) - 12.40% Forecast Period - 2023-2030 Segments Covered - Battery Type, Deployment, Integration, Application, End-use Industry and Region. Geographies Covered - North America, Europe, Asia Pacific, and Row Sample of Companies Covered - ABB, BYD Co Ltd, Limited, Fluence Corporation Ltd, NGK Insulators Ltd, Panasonic Corporation, S&C Electric Co. Download Sample Pages-https://www.marketdigits.com/request/sample/3645 Browse in-depth

All 5 Releases


More Releases for MarketDigits

FDA Approves Fabhalta (Iptacopan) for C3G | Market Impact Across Biopharma, Diag …
FDA Approval of Fabhalta for C3G | Market Impact, Investment Opportunities, and Industry Trends Published on: 20th March 2025 The U.S. Food and Drug Administration (FDA) has approved Fabhalta (iptacopan), the first-ever treatment for complement 3 glomerulopathy (C3G), a rare kidney disease characterized by excessive proteinuria and progressive kidney damage. This approval marks a significant milestone in nephrology, with far-reaching implications across various healthcare sectors, including biopharmaceuticals, biotechnology, and diagnostics. Official Statements on FDA
Aviation Insurance Market to Reach USD 5,759.97 million by 2030 at a 5.6% CAGR | …
The valuation of the Global Aviation Insurance Market reached $3,430.20 million in 2022 and is anticipated to achieve $5,759.97 million by 2030, exhibiting a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. The aviation insurance market plays a crucial role in ensuring the financial stability of the aviation sector by providing coverage against a wide range of risks faced by airlines, airports, and manufacturers. With the aviation industry
Swarm Intelligence Market Size is USD 641 million by 2032 at a CAGR of 38.50% | …
The Swarm Intelligence Market is Valued USD 34.9 million in 2024 and projected to reach USD 641 million by 2032, growing at a CAGR of 38.50% During the Forecast period of 2024-2032. The Swarm Intelligence Market is witnessing significant growth due to the rising adoption of artificial intelligence (AI) and machine learning (ML) in optimizing complex systems. Swarm intelligence, inspired by the collective behavior of social insects like ants and bees,
Li-Fi Market to Reach USD 22.13 billion by 2032 at a 45.70% CAGR | MarketDigits
The Li-Fi Market is Valued USD 0.68 billion in 2024 and projected to reach USD 22.13 billion by 2032, growing at a CAGR of 45.70% During the Forecast period of 2024-2032. The Li-Fi (Light Fidelity) market is rapidly growing as a promising wireless communication technology that uses light to transmit data, offering higher speeds and enhanced security compared to traditional Wi-Fi systems. Li-Fi operates by modulating the intensity of light from
IoT Professional Services Market to Reach USD 206.90 billion by 2032 at a 6.72% …
The IoT Professional Services Market is Valued USD 125.66 billion in 2024 and projected to reach USD 206.90 billion by 2032, growing at a CAGR of 6.72% During the Forecast period of 2024-2032. The IoT Professional Services Market is experiencing rapid growth as businesses across industries continue to adopt Internet of Things (IoT) technologies to streamline operations, enhance customer experiences, and optimize resource management. This market encompasses a wide range of
Cancer Immunotherapy Market to Grow Steadily at 10.4 % CAGR by 2032 - Marketdigi …
𝐓𝐡𝐞 𝐂𝐚𝐧𝐜𝐞𝐫 𝐈𝐦𝐦𝐮𝐧𝐨𝐭𝐡𝐞𝐫𝐚𝐩𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐕𝐚𝐥𝐮𝐞𝐝 𝐔𝐒𝐃 𝟏𝟎𝟎 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟒 𝐚𝐧𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 𝐔𝐒𝐃 𝟐𝟕𝟓.𝟏𝟏 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟎.𝟒 % 𝐃𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝 𝐨𝐟 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐. The cancer immunotherapy market is experiencing robust growth, driven by advancements in cancer treatments and the increasing adoption of immunotherapy as a promising alternative to traditional therapies. Cancer immunotherapy involves harnessing the body's immune system to