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The video analytics market size is forecast to increase by USD 37.49 billion at a CAGR of 33.01% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for advanced security and surveillance solutions. Key trends include the adoption of artificial intelligence (AI) and machine learning technologies for facial recognition and loss prevention in various industries, such as transportation & logistics. Interoperability complexities persist as organizations seek to integrate multiple systems, requiring access control and on-premise or cloud deployment options. IT security remains a top priority, with the need for robust access control measures and data encryption. Smart cities are also driving market growth through the implementation of advanced traffic management and theft analysis systems. In summary, the market is thriving due to its ability to enhance decision-making capabilities, address the shortage of skilled workers, and provide advanced security and surveillance solutions for various industries. Key technologies, such as IP cameras and AI, are gaining popularity, while interoperability and IT security remain critical challenges.
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The market is experiencing significant growth due to the increasing adoption of intelligent cameras and edge-based architecture. These technologies enable advanced capabilities such as aggression detection, crowd counting, intrusion detection, perimeter defense, camera tampering detection, loitering detection, and tripwire counting. Intelligent cameras, equipped with deep learning, are transforming video surveillance by providing real-time analysis and actionable insights. These cameras can identify and respond to specific events, such as suspicious behavior or intrusions, enhancing security and safety in various industries. Edge-based architecture is another key trend in the market.
This architecture allows for processing data at the edge, reducing the need for extensive cloud storage and bandwidth. Edge computing devices, such as IoT devices and edge technologies, enable real-time analysis and decision-making, making them essential for applications requiring quick response times. Geopolitical tensions and inflation are some macro-economic factors driving the growth of the market. The need for enhanced security and safety, especially in public spaces, is increasing, leading to an increase in demand for video analytics solutions. Interoperability complexities are a challenge in the market. With the increasing adoption of edge computing and AI capabilities, ensuring seamless integration and communication between these systems is crucial.
Smart cities, access control, on-premise solutions, and facial recognition technology are some areas where interoperability is essential. Ad spending in digital media is also driving the growth of the market. Heat mapping and retail shrinkage analysis are some applications where video analytics is being used to optimize ad spending and improve ROI. Post-analysis is another area where video analytics is gaining traction. By analyzing video footage after an event has occurred, organizations can gain valuable insights and improve their operations. This includes identifying patterns, trends, and areas for improvement, leading to increased efficiency and productivity. In conclusion, the market is witnessing significant growth due to the adoption of intelligent cameras and edge-based architecture.
These technologies enable advanced capabilities such as aggression detection, crowd counting, intrusion detection, and more. Macro-economic factors, such as geopolitical tensions and inflation, are also driving the growth of the market. Interoperability complexities and ad spending are some challenges and opportunities in the market. By addressing these challenges and leveraging the benefits of video analytics, organizations can improve security, safety, and operational efficiency.
The video analytics market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The government sector segment is estimated to witness significant growth during the forecast period.Video analytics technology plays a crucial role in enhancing security and situational awareness within government and military facilities. By collecting and analyzing data from various sources, including live feeds and unstructured data, video analytics systems and video surveillance as a service enable effective resource optimization and integration. These systems provide real-time alerts and alarms based on predefined rules, ensuring the prompt identification and response to potential threats. Moreover, video analytics is instrumental in reducing retail shrinkage and improving customer services in various industries. Heat mapping and facial recognition technology are essential components of video analytics software, providing valuable insights into customer behavior and preferences.
Post-analysis of video data can lead to forensic findings, helping businesses address any discrepancies or incidents. Video analytics systems offer numerous benefits, such as increased efficiency, enhanced security, and improved decision-making capabilities. By implementing these advanced technologies, organizations can effectively manage their resources and respond to events in real-time. The future of video analytics lies in its ability to provide actionable insights and intelligence, making it an essential tool for businesses and government agencies alike.
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The Government sector segment accounted for USD 1.24 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 41% to the growth of the global video analytics market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In North America, the market is poised for substantial expansion over the coming years. The region's advanced infrastructure makes it a mature market for video analytics. Compared to emerging markets, the demand-supply gap for video analytics infrastructure in North America is relatively smaller. However, outdated cameras in sectors like residential, commercial, and banking institutions hinder overall performance evaluations due to their use of obsolete technologies. Advanced video analytics-enabled cameras play a crucial role in managing crowds effectively and enhancing on-site security. False alarms from security systems can be minimized with object and image classification technologies. In the retail sector, video analytics provides actionable insights for business intelligence.
The implementation of video analytics in smart city initiatives, including CCTV and facial identification in public spaces, is a significant trend in the region. Domestic and international firms are investing heavily in this technology to stay competitive. The Social Credit System is another area where video analytics is gaining traction for security and surveillance purposes.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Enhanced decision-making capabilities of users is the key driver of video analytics market growth. Video analytics is a crucial tool in enhancing business operations and ensuring optimal supply chain management. By integrating intelligent cameras with deep learning algorithms, video analytics enables more effective monitoring of premises. This technology aids operators by highlighting unusual activities, such as aggression, crowd counting, intrusion detection, and perimeter defense. Furthermore, edge-based architecture ensures real-time analysis, reducing reaction time during emergencies. Cameras equipped with video analytics also help prevent camera tampering and loitering, ensuring perimeter security. Additionally, tripwire counting and human traffic flow analysis provide valuable insights into crowd density and audience profiling. With the increasing number of security cameras, coordination between these devices and their operators is essential.
Video analytics plays a pivotal role in this collaboration, enabling operators to make informed decisions and respond promptly to any potential threats or anomalies. In summary, video analytics is an indispensable technology for businesses seeking to improve operational efficiency and maintain a secure environment.
Growing preferences for internet protocol (IP) cameras over analog cameras is the upcoming trend in the video analytics market. IP cameras have emerged as a preferred choice over traditional analog or conventional cameras for video surveillance in various industries, including transportation and logistics. The primary advantage of IP cameras is their ability to transmit both control data and high-definition image data over an IP network. In contrast, conventional cameras, which are commonly used in closed-circuit television (CCTV) systems, have a lower frame rate and are less suitable for areas with high movement. Moreover, IP cameras offer enhanced security features, such as encryption, that prevent unauthorized access and signal replacement, addressing the vulnerabilities of conventional cameras. IP cameras also eliminate the need for substantial cabling, offer higher image quality, and provide greater positioning and port flexibility.
Advanced features, such as facial recognition, artificial intelligence, and machine learning, are increasingly being integrated into IP cameras, enabling loss prevention, theft analysis, and access control. These capabilities are particularly valuable in smart cities, where real-time monitoring and analysis of public spaces are essential for ensuring safety and improving the customer experience. As the transportation and logistics industry continues to adopt advanced technologies to optimize operations and enhance security, the demand for IP cameras with advanced features is expected to grow significantly. Cloud and on-premise deployment options further expand the flexibility and scalability of IP camera systems, making them an indispensable tool for businesses seeking to enhance their security and operational efficiency.
Shortage of skilled workers is a key challenge affecting video analytics market growth. The demand for video analytics solutions is escalating across various sectors in the US market, driven by the need to enhance workflows, efficiency, and productivity. Macro-economic factors such as inflation, recession, rising interest rates, and geopolitical tensions have increased the pressure on businesses to optimize their operations and make data-driven decisions. In response, industries such as critical infrastructure, government & defense, transportation & logistics, and smart city projects are turning to video analytics to gain valuable insights from their video data. Edge computing devices and IoT devices are increasingly being integrated with video analytics capabilities to enable real-time analysis and decision-making.
However, the shortage of skilled workforce to operate these advanced systems is emerging as a significant challenge. As older workers retire, there is a growing need for trained professionals to manage video analytics solutions. Despite the benefits of automation, the operation of these systems still requires human intervention, making the shortage of skilled labor a pressing concern. To address this challenge, businesses are investing in training programs and partnerships with educational institutions to develop a talent pipeline. Additionally, the adoption of edge technologies is expected to alleviate some of the pressure on centralized data processing and storage, making it easier to scale video analytics solutions and reduce the reliance on a large workforce.
Overall, the demand for video analytics solutions is expected to continue growing, driven by the need to gain actionable insights from video data and improve operational efficiency.
The video analytics market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the video analytics market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agent Video Intelligence Ltd. - The company provides video analytics software powered by advanced algorithms, enabling businesses to gain valuable insights from video data. This solution can be deployed as a cloud-based Software-as-a-Service (SaaS) or installed on-premises. By harnessing the power of video analytics, organizations can improve operational efficiency, enhance security, and gain a deeper understanding of customer behavior. Key features include real-time video processing, object detection, and trend analysis. Additionally, the solution integrates seamlessly with various third-party systems, ensuring a smooth implementation process.
The video analytics market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Video analytics is a rapidly growing market that leverages intelligent cameras and advanced technologies such as deep learning and edge-based architecture to provide real-time insights from video feeds. The market caters to various industries, including critical infrastructure, government & defense, transportation & logistics, and smart city projects. Applications of video analytics include aggression detection, crowd counting, intrusion detection, perimeter defense, camera tampering, loitering detection, tripwire counting, human traffic flow, people counting, crowd density, audience profiling, face indexing, and more. Macro-economic factors like recession, rising interest rates, and geopolitical tensions are driving the demand for video analytics solutions. Edge computing devices and IoT devices with AI capabilities are integral to the market's growth.
However, interoperability complexities pose a challenge. Facial recognition technology is a significant application in the transportation & logistics industry, IT security, and access control. Video analytics software offers features like alarms, alerts, post-analysis, heat mapping, retail shrinkage, and theft analysis. It provides practical insights for businesses, large enterprises, and small & medium enterprises. The market faces restraining factors like initial investment, systems infrastructure, IT skills, and high setup costs. However, key market opportunities lie in advanced technologies like AI, accuracy, false alarms, object classification, image classification, and actionable insights. The retail sector benefits significantly from business intelligence derived from video analytics. Domestic and international firms are investing in video analytics solutions for various applications. The social credit system and facial identification are integral to public spaces and CCTV cameras surveillance.
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Market Scope |
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Report Coverage |
Details |
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Page number |
185 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 33.01% |
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Market growth 2024-2028 |
USD 37.49 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
26.19 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key countries |
US, China, Germany, Japan, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Agent Video Intelligence Ltd., Alarm.com Holdings Inc., AllGoVision Technologies Pvt. Ltd., BriefCam Ltd., Canon Inc., Cisco Systems Inc., Dahua Technology Co. Ltd., Genetec Inc., Honeywell International Inc., Huawei Technologies Co. Ltd., i2V Systems Pvt. Ltd., Infinova Group, International Business Machines Corp., NEC Corp., NICE Ltd., PureTech Systems Inc., Qualcomm Inc., Robert Bosch GmbH, Verint Systems Inc., and Viseum UK Group |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our video analytics market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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