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Video Analytics Global Market Booms to $9.61 Billion At 18.8% CAGR by 2025: Boosted By Technology Drivers and Evolving Trends
Smart City Adoption, Crime Rate Reduction, and Retail Optimization Accelerate Global Video Analytics Market GrowthWhat Is The Projected Market Size Of The Global Video Analytics Market And Its Growth Rate?
The video analytics market is anticipated to grow exponentially:
•The market size has increased drastically in recent years, growing from $8.08 billion in 2024 to $9.61 billion in 2025 at a compound annual growth rate (CAGR) of 18.8%. This growth can be attributed to the surge in security concerns, increasing need for retail optimization, traffic management solutions, public safety and emergency response, and operational efficiency in industries.
•The video analytics market size is expected to hit $20.95 billion in 2029 at a compound annual growth rate (CAGR) of 21.5%. Market expansion in the forecast period is likely due to growing adoption in smart cities, enhancement of retail and customer experience, and compliance with health and safety norms.
What Is Driving The Growth In The Video Analytics Market?
Significant factors such as the proliferation of surveillance cameras, leading to a drop in crime rates, are expected to push the growth of the video analytics market. Surveillance cameras deliver an extensive amount of videos, key for securing any infrastructure. Video analytics assists in reducing crime rates by providing automatic tracking and insights from video frames, thereby minimizing the chances of negligence or human errors. For instance, in March 2022, a study by UK-based CCTV and crime prevention statistics reported that places with CCTV saw a 13% decrease in crime, as compared to places without it. The presence of CCTV impacted particular types of crime such as drug-related (20% reduction), and vehicle and property crime (14% reduction). Consequently, the reduction in crime rate due to surveillance cameras will boost the video analytics market growth.
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Who Are the Key Players Driving Video Analytics Market Growth?
Key players operating in the video analytics market include:
•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.
What Are The Key Trends In The Video Analytics Market?
Major trends shaping the video analytics market include:
•Emotion and sentiment analysis
•Integration with IoT sensors
•Automated license plate recognition (ALPR)
•Real-time crowd monitoring
•Customizable and open architecture solutions
What Are The Segments Of The Global Video Analytics Market?
The video analytics market can be segmented as follows:
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
Which Region Leads The Video Analytics Market?
In 2024, North America emerged as the largest region in the video analytics market. During the forecast period, Asia-Pacific is expected to be the fastest-growing region. The regions analyzed in the market include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Video Analytics Global Market Report?
- Market Size Analysis: Analyze the Video Analytics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Video Analytics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Video Analytics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Video Analytics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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