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Intelligent Video Analytics Systems Market Size, Emerging Trends, Growth Rate, Business Opportunities And Forecast To 2033
Intelligent Video Analytics Systems Market Overview
As per the report, the intelligent video analytics market size has grown rapidly in recent years. It will grow from $3.54 billion in 2023 to $4.07 billion in 2024 at a compound annual growth rate (CAGR) of 15%. The intelligent video analytics market size is expected to see rapid growth in the next few years. It will grow to $7.17 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%.
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Surveillance And Security Solutions Drive Surge In Intelligent Video Analytics Systems Market
Increased demand for surveillance and security solutions is expected to propel the growth of the intelligent video analytics market going forward. Surveillance and security solutions refer to a wide range of technologies and strategies designed to monitor and protect people, property, and information. Intelligent video analytics uses advanced algorithms and artificial intelligence to extract meaningful insights from video data, enhancing the overall effectiveness of surveillance and security measures. For instance, in August 2022, Buddi Limited, a UK-based technology company, signed a £6 million (approximately $7 million) contract with the UK government to use facial recognition smartwatches to monitor immigrants convicted of a criminal offense in the UK, which indicates a rise in the use of surveillance and security solutions through intelligent video analytics. Therefore, increased demand for surveillance and security solutions is driving the growth of the intelligent video analytics market.
Intelligent Video Analytics Systems Market
Major companies operating in the intelligent video analytics market are innovating technology, such as artificial intelligence-based video analytics, to sustain their position in the market. An artificial intelligence-based video analytics application is a software tool that utilizes machine learning and deep learning algorithms to analyze video data and derive actionable insights and conclusions. For instance, in September 2022, Dallmeier Electronic GmbH & Co. KG, a Germany-based company specializing in the development and manufacturing of video security technology solutions, introduced Sedor AI, artificial intelligence-based video analytics for maritime applications. The Sedor AI software is engineered to identify vessels on unobstructed water surfaces under typical circumstances, as well as challenging environmental elements like waves and water reflections. The software program conforms with legal requirements like the ISPS (International Ship and Port Facility Security) Code and aids port operators and refineries in preventing illegal entry from the waterside and related hazards like piracy and terrorist attacks.
The intelligent video analytics systems market covered in this report is segmented -
1) By Type: Camera-based Systems, Server-based Systems
2) By Offering: Hardware, Software
3) By Application: Banking, Financial Services and Insurance (BFSI) Sector, Government, Industrial Sector, Retail Sector, Transportation, Other Application
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Major companies operating in the intelligent video analytics systems market report are Robert Bosch GmbH, Motorola Solutions Inc., Teledyne FLIR LLC, Hexagon AB, Advantech Co. Ltd., Axis Communications AB, Verint Systems Inc., Ambarella Inc., Genetec Inc., Cybernet Systems Corporation, Panasonic Corporation, International Business Machines Corporation, Evolv Technologies Holdings Inc., Infinova, Honeywell International Inc., Toyon Research Corporation, Intelligent Security Systems Corporation, Vivotek Inc., NetraDyne, Gorilla Technology Inc., Aventura Technologies Inc., AllGoVision Technologies Pvt. Ltd., Spot AI Inc., Irisity AB, Clarifai Inc., PureTech Systems Inc., Uncanny Vision Solutions Private Limited, Agent Vi Ltd., Objectvideo Inc., Aralia Systems Ltd
Contents of the report:
1. Executive Summary
2. Intelligent Video Analytics Systems Market Report Structure
3. Intelligent Video Analytics Systems Market Trends And Strategies
4. Intelligent Video Analytics Systems Market - Macro Economic Scenario
5. Intelligent Video Analytics Systems Market Size And Growth
…..
27. Intelligent Video Analytics Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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