Video Analytics Market, By Type (Software, Services, and Solutions), By Deployment (On-Premises and Cloud), By Application (Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition, Traffic Monitoring, Motion Detection, and Others), By End-User (BFSI, City Surveillance, Critical Infrastructure, Education, Government, Retail, Transportation, and Others) and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Video Analytics or intelligent video analytics, is a software that uses video streams in real-time to monitor various activities. During the monitoring period, the software identifies attributes, events or patterns of specific behavior via video analysis of monitored surroundings. Video analysis software also generates automatic alerts and can facilitate forensic analysis of historical data to identify trends, patterns, and incidents. The software enables its end users to analyze, organize and share any information found from the data to make smarter and better decisions. It also helps in proper coordination across and within various agencies and organizations. Its applications are widespread like monitoring vehicle patterns or violations of traffic laws, or people entering restricted areas. The data collected during the surveillance period can be sorted by time, date and by a specific period to further create a trend analysis model.  The technology that is being used for video analytics involves sensors, cameras, image compression techniques, and connectivity techniques. A very simple function of video analytics is motion detection, whereas in advanced level the function can be used for ego-motion estimation, wherein 3D motion of a camera is used within a particular environment such as VFX (Visual effects) during the motion pictures.

Market Segmentation:

Global Video Analytics Market is segmented by types like Software, Services, and Solutions. By deployment type, it is segregated into on-premises and cloud. By application type, it is divided into crowd management, facial recognition, intrusion detection, license plate recognition, traffic monitoring, motion detection, and others. By the end-user, the market is bifurcated into BFSI, city surveillance, critical infrastructure, education, government, retail, transportation, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

Video analytics comes with many benefits especially in businesses like for security and public safety and is one of the reasons why it is growing rapidly. One another reason for increase in demand for video analytics is for non-security reasons that are in crowd management applications like tracking the number of people in entry and exit points of the shopping malls, organizations and others. However, increase in number of false alarms during bad weather or poor lighting conditions and the high cost of installations are the factors that hamper the market growth. Due to the rise in cloud computing, growing demand for automation, the need for infrastructural safety and for securing computing environment, the market is expected to grow in future.

Geographic Analysis:

The Global Video Analytics Market is expected to grow from USD 1.9 billion of 2019 to USD 7.23 billion by 2028 which shows approximate CAGR of 21.2%. Currently, North America is projected to have the largest hold in the market share from 2016 to 2021 as there has been a large adoption of video surveillance systems. APAC however, is expected to be the fastest-growing region in the global intelligent video analytics market. This is due to the fact that this region has an increasing adoption of new technologies such as analytics, cloud, and also the development of smart city projects in countries such as Singapore, China, and India.

Competitive Scenario:

The major key players providing video analytics solutions and services include Aventura (US), Genetec (US), IntelliVision (US), intuVision (US), PureTech Systems (US), Cisco Systems (US), Honeywell (US), IBM (US), Axis Communications (Europe), Agent Vi (US), AllGoVision (APAC), Avigilon (US), iOmniscient (APAC), BriefCam (US), Digital Barriers (Europe), Aimetis (US), 3VR (US), Ipsotek (Europe), Gorilla Technology (APAC), KiwiSecurity (Europe), Intelligent Security Systems (US), Verint (US), Viseum (Europe), DELOPT (APAC), i2V (APAC), and Qognify (US).

Video Analytics Market Report Scope