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Video Analytics Market, Emerging Trends and Growth Opportunities 2022-2030

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Kanika Bath

The Video Analytics Market size was valued at USD 4.55 billion in 2019, and is projected to reach USD 37.72 billion by 2030, growing at a CAGR of 21.2% from 2020 to 2030. Video analytics is used to process large amount of digital video signals with special algorithm to perform various security-related functions. It is widely used across airports, manufacturing plants, government & public sector institutions and others for processing large amount of data generated through video surveillance. Video analytics is crucial for analyzing threats by recognizing, mitigating, and monitoring intruders.

Market Segmentations and Scope of the Study:

The global video analytics market is segmented based on component, deployment, organization size, application, and region. By component, the market is classified into software and services. By deployment, the market is categorized into on-premise and cloud. By organization size, the market is bifurcated into large enterprises and small & medium enterprises. By application, the market is divided into retail, healthcare, BFSI, transportation & logistics, government, manufacturing, mining, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and RoW.

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Geographical Analysis:

North America holds the lion share in the global video analytics market. This is due to the presence of key players and the strategies adopted by them in order to uplift their businesses. Also, significant investment by the major players as well as by the governments for advancement of smart technologies is contributing to the market growth in this region. On the other hand, Asia Pacific is anticipated to witness steady growth in the video analytics market due to the presence of emerging economies and expanding population. Video analytics plays a crucial role in ensuring the safety and security of this growing population and provides better crowd management in public gatherings.

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Competitive Landscape:

The key players operating in the global video analytics market include AllGoVision Technologies Pvt. Ltd, Aventura Technologies, Inc., Axis Communications AB, Cisco Systems, Inc., Honeywell International, Inc., IBM Corporation, Intellivision, PureTech Systems, Inc., Verint Systems, Inc., and Quognify. There have been various developments taking place in the market and will also take place in the future, which is further expected to augment the market growth. For instance, in July 2020, Cisco Meraki declared the acquisition of Modcam to rise its capabilities in the field of video analytics. Moreover, in August 2020, AllGoVision launched AllSafe Video Analytics with the aim to increase the safety of people at public areas, office buildings, industries, and all other public & private facilities.

About Us:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We carefully analyse the historical data, augment it by constantly keeping an eye on the latest industry trends and estimate the future events to arrive at accurate market forecasts.

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Kanika Bath
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