Press release
The Role Of Video Analytics In Crime Reduction: A Significant Driver Propelling The Video Analytics Market In 2025
Video Analytics
What Is the Current Video Analytics Market Size and Its Estimated Growth Rate?
In recent years, the video analytics market has seen considerable expansion. Projections indicate that it will rise from $8.08 billion in 2024 to $9.61 billion in 2025, reflecting a compound annual growth rate (CAGR) of 18.8%. This historical period's growth is credited to an increase in security concerns, the necessity for retail optimization, traffic management solutions, public safety measures and emergency response, and the demand for operational efficiency in various industries.
The market size of video analytics is projected to experience considerable expansion in the coming years. It is forecasted to surge to $20.95 billion in 2029 with a compound annual growth rate (CAGR) of 21.5%. This growth during the estimated period is due to increasing utilization in smart cities, retail sectors, and for enhancing customer experiences, besides health and safety compliance. Key trends anticipated during prediction period involve emotion and sentiment analysis, integration with IoT sensors, automated license plate recognition (ALPR), monitoring crowd in real-time, and customizable and open architecture solutions.
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How Are Emerging Segments Shaping the Video Analytics Market Landscape?
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
Subsegments:
1) By Software: On-Premises Software, Cloud-Based Software
2) By Services: Consulting Services, Integration Services, Support And Maintenance Services
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Which Growth Factors Are Influencing Video Analytics Market Expansion?
The decline in crime rates attributed to the presence of surveillance cameras is anticipated to stimulate the expansion of the video analytics market. These surveillance cameras generate a vast number of videos and play a crucial role in the security of any infrastructure. Video analytics contribute to this decrease in crime rates by offering automated tracking and reliable insight from video footage, significantly reducing the chances of oversight or human error. For example, a study from March 2022 by UK-based CCTV and crime prevention statistics demonstrated that crime rates were 13% lower in areas with CCTV as opposed to those without it. Furthermore, the study disclosed that certain categories of crime, such as drug-related crime, saw a reduction of 20%, while vehicle and property crimes reduced by 14%. Consequently, the decrease in crime rates influenced by surveillance cameras is set to catalyse the growth of the video analytics market.
Who Are the Dominant Players Across Different Video Analytics Market Segments?
Major companies 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., Vivotek Inc, Synectics plc, Qognify Inc., BriefCam Ltd., Gorilla Technology Group Inc., PureTech Systems Inc., Aventura Technologies Inc., Camio Inc., KiwiSecurity Services Ltd., Sighthound Inc., Citilog Inc., Agent Video Intelligence Inc., Solink Corporation, AllGoVision Technologies Pvt Ltd., Viseum Limited
What Are the Latest Developing Trends in the Video Analytics Market?
Innovations in technology constitute a significant trending development in the video analytics market. To stay ahead, dominant players in the field are channeling their resources into advanced technology. For instance, Dallmeier Electronic GmbH & Co. KG, a company based in Germany that manufactures video security technology, unveiled Sedor AI in September 2022. This AI-based video analytic tool is intended for maritime applications. Sedor AI software can detect ships on open waterways in both regular conditions and challenging environments such as waves and reflective water. This application comes in handy for port operators and refineries by safeguarding against unauthorized waterside entry and correlated threats like terror attacks and piracy. Furthermore, it adheres to legal standards such as the ISPS (International Ship and Port Facility SecurityCode).
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Which Geographic Regions Are Expected to Dominate the Video Analytics Market in the Coming Years?
North America was the largest region in the video analytics market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Video Analytics Market?
2. What is the CAGR expected in the Video Analytics Market?
3. What Are the Key Innovations Transforming the Video Analytics Industry?
4. Which Region Is Leading the Video Analytics Market?
Why This Report Matters:
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