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The Global Video Analytics Market was valued at USD 2.06 billion in 2016 and is projected to reach USD 28.6 billion by 2025, growing at a CAGR of 33.95% from 2017 to 2025.
Video Analytics is the technology, software and process of using computers to automatically analyze video footage from a security camera. Using video analytics makes your surveillance system more efficient, reduces the workload on security and management staff, and helps you capture the full value of security video by making your IP camera system more intelligent in its work. Benefits of video analytics includes - high accuracy, license plate recognition, strange object recognition, auto-tracking, ease of implementation, reduced labor costs, improves security, and real-time surveillance.
1. Market Drivers
1.1 Adoption of technologies such as IoT, machine learning and AI
1.2 Increasing demand for improved efficiency levels of video surveillance
1.3 Rising demand of video analytics in various sectors
1.4 High demand for recognition applications
1.5 Increasing investments by government to enhance public safety infrastructure
2. Market Restraints
2.1 Complexities in operating in remote and isolated locations
2.2 Lack of reliability
2.3 Issues with storage and bandwidth
2.4 Costly infrastructure
The Global Video Analytics Market is segmented on the application, type, deployment model, vertical, and region.
1.1 Traffic Monitoring
1.2 Incident Detection
1.3 Facial Recognition
1.4 People/Crowd Counting
1.5 Intrusion Management
1.6 Automatic Number Plate Recognition
2. By Type:
3. By Deployment Mode:
4. By Vertical:
4.1 City Surveillance
4.2 Border Security
4.4 Banking, Financial Services, and Insurance (BFSI)
4.7 Traffic Management
4.8 Critical Infrastructure Protection
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
2. Intellivision Technologies Private Ltd.
3. Honeywell International Incorporation
4. Agent Video Intelligence Ltd.
5. Cisco Systems, Inc.
6. Puretech Systems Inc.
7. Axis Communications
8. I2V Systems Private Ltd.
10. Intuvision, Inc.
11. Genetec Inc.
12. Aventura Technologies Inc.
13. Allgovision Technologies Pvt. Ltd.
14. Avigilon Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Video Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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