IMARC Group, a leading market research company, has recently released a report titled “Video Analytics Market Report by Component (Software, Services), Deployment Type (On-Premises, Cloud), Application (Incident Detection, Intrusion Management, People/Crowd Counting, Traffic Monitoring, Automatic Number Plate Recognition, Facial Recognition, and Others), Architecture Type (Edge-Based, Server-Based), Organization Size (Small and Medium Enterprise, Large Enterprise), End User (BFSI, Retail, Critical Infrastructure, Traffic Management, Transportation and Logistics, Hospitality and Entertainment, Defense and Security, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global video analytics market trends, share, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global video analytics market size reached US$ 7.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 29.1 Billion by 2032, exhibiting a growth rate (CAGR) of 16.1% during 2024-2032.
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Global Video Analytics Market
Video analytics is a technology that uses artificial intelligence and computer vision to analyze and interpret video content. It enables the automated extraction of valuable insights from video data in real-time or post-event. Video analytics can detect and recognize objects, people, and events, thus making it valuable for various applications, including security, surveillance, and business intelligence. It can identify unusual or suspicious activities, track movements, count objects, and generate alerts based on predefined rules. This technology has wide-ranging applications, from enhancing security systems to improving retail operations, traffic management, and even healthcare monitoring. Video analytics plays a crucial role in automating video data analysis, thus making it more efficient and actionable for businesses and organizations.
Global Video Analytics Market Trends:
The increasing need for enhanced security measures in public spaces, transportation hubs, and critical infrastructure represents one of the key factors driving the growth of the market across the globe. Video analytics is employed in the retail sector to gather data on customer behavior, foot traffic, and shopping patterns. This information is invaluable for optimizing store layouts, product placements, and marketing strategies which is fueling the growth of the market. The market is also driven by the rising demand for video analytics in urban areas for traffic monitoring and management. Video analytics track vehicle flow, identify congestion, and optimize traffic signals to reduce gridlock and improve transportation efficiency which is propelling the growth of the market.
Advances in artificial intelligence (AI) and machine learning (ML) are enhancing the capabilities of video analytics which is facilitating the growth of the market. Video analytics aids in industrial automation and monitoring which detects equipment malfunctions, safety violations, and production anomalies, thus contributing to operational efficiency and worker safety. Video analytics assists in retail loss prevention by identifying shoplifting and theft incidents in real-time, which creates a positive outlook for the market across the globe.
Video Analytics Market Report Segmentation:
By Component:
- Software
- Services
By Deployment Type:
- On-Premises
- Cloud
By Application:
- Incident Detection
- Intrusion Management
- People/Crowd Counting
- Traffic Monitoring
- Automatic Number Plate Recognition
- Facial Recognition
- Others
By Architecture Type:
- Edge-Based
- Server-Based
By Organization Size:
- Small and Medium Enterprise
- Large Enterprise
By End User:
- BFSI
- Retail
- Critical Infrastructure
- Traffic Management
- Transportation and Logistics
- Hospitality and Entertainment
- Defense and Security
- Others
Regional Insights:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape with Key Players:
The competitive landscape of the video analytics market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
- Agent Video Intelligence Ltd.
- AllGoVision Technologies Pvt. Ltd.
- Aventura Technologies, Inc.
- Avigilon Corporation (Motorola Solutions)
- Axis Communications AB (Canon Inc.)
- Cisco Systems, Inc.
- Gorilla Technology Inc. (Gorilla Science & Technology Holding Inc.)
- Honeywell International Inc.
- IBM
- IntelliVision Technologies Corp. (Nortek Security & Control LLC)
- Intelligent Security Systems Corporation
- KiwiSecurity Software GmbH
- PureTech Systems Inc. (FLIR Systems)
- Qognify Inc.
- Verint Systems, Inc.
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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