Video Analytics Market Trends set to witness Explosive growth by 2030

Global Video Analytics Market Overview:

According to MarkNtel Advisors study the Global Video Analytics Market is anticipated to witness around 23.3% CAGR during the forecast period, i.e., 2024-30. The security & surveillance sector is crucial in a variety of application areas. With the introduction of smarter & more powerful IP/network cameras, the surveillance business has undergone a paradigm shift in the previous few years. The rising adoption of VA technology is driven principally by various government initiatives across different regions worldwide for establishing a reliable infrastructure to prevent crimes & boost security awareness.

Key Findings of the Study: Video Analytics market

Global Video Analytics Market Driver:

Snowballing Requirements for Real-Time Incident Detection - Video analytics software helps generate instantaneous warnings across numerous business sectors and improve situational awareness. It may assist in the detection, classification, & tracking of behavioral patterns and specified objects in live or recorded video streams. High-performance capabilities of such solutions can help transform standard surveillance networks into intelligent detection & alert systems for automobiles, people, & static objects.

Moreover, many private/public or government entities are establishing numerous network lines to compute critical videos for better analytics. Furthermore, real-time event detection has aided in reducing crimes, thefts, & other criminal activities, coupled with the overall social condition & international trade climate. Hence, all aspects cited above are projected to drive the market during 2024-30.

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Scope of the Video Analytics Market Report Segmentation

-By Component

Service
Software

-By Deployment

On-Premises
Cloud

-By Application

Incident Detection
Intrusion Management
People/Crowd Counting
Traffic Monitoring
ANPR
Facial Recognition
Others (AR and Ego-Motion Estimation)

-By Type

Edged-Based
Server-Based

-By Vertical

Banking, Financial Services, and Insurance (BFSI)
City Surveillance
Critical Infrastructure
Education
Hospitality and Entertainment
Manufacturing
Defense and Border Security
Retail
Traffic Management
Transportation and Logistics
Others (Healthcare and Life Sciences, and Construction)

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Geographical analysis:

-By Region

North America
South America
Europe
Asia-Pacific
Middle East & Africa

Of all regions globally, North America is likely to acquire the largest share of the Video Analytics Market during 2024-30. The emergence of cutting-edge technologies, the extensive presence of leading market players like Honeywell International Inc., IBM Corporation, Cisco Systems, and others, and the excessive adoption of CCTV cameras in several settings like street corners, universities, schools, private homes, etc., especially across the US & Canada, are the prime aspects expected to drive the regional market in the forecast years.

Global Video Analytics Industry Recent Developments

On 5 January 2023, Bosch added Flexidome 5100i fixed cameras integrated with Deep Learning video analytics and designed for building security using IVA Pro (Intelligent Video Analytics Pro) Buildings Pack. They support reliable intrusion detection and accurate people counting in crowded areas, especially in & around buildings.
In September 2022, Honeywell launched the latest iteration of its Pro-Watch Integrated Security Suite, Pro-Watch 6.0 & Pro-Watch Video Management System (VMS) R750, along with the 35 Series cameras that provide a greater emphasis on cybersecurity & compliance. These higher-resolution IR cameras can cover larger areas, both day & night, with smart human & vehicle motion detection to reduce false alarms.

Current Landscape of Video Analytics Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Video Analytics market. The research report profiles major players, including

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Avigilon
Cisco
Axis Communications
Agent VI
AllGoVision
Aventura Systems
Genetec
i2V
IntelliVision
intuVision
PureTech Systems
Qognify
Honeywell
IBM
iOmniscient
BriefCam
Digital Barriers
IPSOTEK
Gorilla Technology
Bosch Security

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