Global Video Analytics Market by Component; by Deployment Model; by Type; by Application; by End User Industry; and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa); - Global Forecasts 2021 to 2027

Date : Oct 2021

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Report ID : 784

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Category : Information Technology

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Report Format:  PDF EXCEL PPT WORD

The Global Video Analytics Market was valued USD 1.6 Bn in 2020 and is expected to reach USD 7.5 Bn by 2027, with a growing CAGR of 24.4% during the forecast period (2021-2027).

The Global Video Analytics Market Definition:

Video analytics is also known as intelligent video analysis or video content analytics is an ability to automatically detect and discover temporal and spatial events in real-time. The video is analyzed based on various advancements in deep learning. Video analytics is applied in numerous industries such as healthcare, transportation, retail, and e-commerce and in building smart cities among others, as it provides advantages such as accelerated investigation, achieve situational awareness, drive real-time alerting, and scheduling business intelligent dashboards among others.

Video Analytics Market

The Global Video Analytics Market Dynamics:

The global video analytics market is accounted to grow with a significant CAGR during the forecast period. The growth is majorly attributed to the growing demand for video analytics solutions in various aspects of smart city development projects. According to Consumer Technology Association, the demand for smart cities infrastructure is witnessing significant growth across the world and is expected to increase the spending to more than 34.35 billion during the forecast period.

The video analytics market leaders such as Bosch, IBM, Cisco, and Honeywell International operating in the video analytics market are observed to increasingly invest in advancements of the existing video analytics tools. For instance, in October 2018, the IBM Intelligent Video Analytics V3.0 announced new features to the video analytics capabilities. The new version of the software is expected to allow full support to IBM POWER9 infrastructure and provide cognitive analytics and integration with visual recognition model creation software.

Furthermore, the increasing penetration of numerous start-ups in providing video analytics solutions across the globe is anticipated to propel the global video analytics market during the forecast period. Startups are observed to enhance technological advancement in the global video analytics market. For instance, in September 2021, Graymatics, a Singapore-based company involved in providing CCTV-based video analytics solutions to enhance security and surveillance systems launched a new AI-based video analytics solution that can be installed with existing CCTV infrastructure to draw analytics from the CCTV video and ensure monitoring and surveillance.

The Global Video Analytics Market Segmentation:

  • By Component
    • Services
    • Software
  • By Deployment Model
    • On-Premises
    • Cloud
  • By Type
    • Edge-based
    • Server-based
  • By Application
    • Facial Recognition
    • License Plate Recognition
    • Crowd Management
    • Intrusion Detection
    • Motion Detection
    • Others
  • By End User Industry
    • Retail and E-commerce
    • Transportation and Logistics
    • BFSI
    • Defence and Border Security
    • Government
    • Critical Infrastructure
    • Others (Education, Manufacturing, Healthcare, etc.)
  • By Region
    • Asia Pacific
    • North America
    • Latin America
    • Europe
    • Middle East & Africa

Company Profiles and Competitive Intelligence

The key players operating in the video analytics market are:

  1. IBM Corporation
  2. Honeywell International Inc.
  3. Huawei Investment & Holding Co. Ltd.
  4. Bosch Sicherheitssysteme GmbH
  5. Axis Communications AB
  6. i2V Systems Pvt. Ltd
  7. Agent Video Intelligence Ltd
  8. Thales Group
  9. Avigilon Corporation
  10. Intellivision Technologies Private Ltd.
  11. Intelligent Security Systems
  12. Cisco Systems, Inc.
  13. Verint System Inc.
  14. Puretech Systems Inc.
  15. AllGoVision Technologies Pvt. Ltd
  16. Cisco Systems, Inc.
  17. Dahua Technologies Co. Ltd.
  18. Aventura Technologies Inc.
  19. Siemens
  20. Digital Barrier
  21. Textron Systems
  22. Hikvision
  23. Qognify
  24. Genetec Inc.
  25. Gorilla Technology
  26. Viseum
  27. NEC Corp.
  28. Drishti Technologies
  29. Ipsotek
  30. Iomniscient
  31. DeepNorth

Based on deployment model, the cloud-based deployment segment is expanding at a highest growth rate during the forecast period in video analytics market analysis owing to increasing advantages provided by the cloud deployment model

The Cloud-based deployment segment is accounted to grow with the highest CAGR in the global video analytics market during the forecast period. The growth is primarily attributed to the benefits and convenience provided by cloud services over on-premises deployment models. According to the article published by Forbes in March 2021, the edge to cloud transformation had been observed to increase with the launch of IBMs Cloud Satellite. The IBM Cloud Satellite is expected to enable IBM's hybrid cloud services to access from anywhere across the globe and use any cloud services or on-premises or edge-based servers.

Additionally, the video analytics solution is extensively being used in enhancing security across various industries such as retail, healthcare, and the education industry. For instance, according to the article written by Education Technology in September 2021, the adoption of cloud-based Video-Surveillance-as-a-Service (VSaaS) in schools and colleges is enhancing safety and security and building a safe education environment across the globe. Cloud video analytics solution provides advanced, affordable, and versatile surveillance systems which offer industry organizations to improve security, efficiency, and streamline operations.

Based on the end-user industry, the retail end-user industry segment accounted for the majority of market share in the year 2020 for overall video analytics market size owing to accelerating demand from retail stores to avail various benefits of video analytics solution, followed by the convenience stores

The retail end-user industry held the largest market share in the year 2020 and is expected to witness prominent growth for the global video analytics market during the forecast period. Retail stores are increasingly adopting AI-based video analytics solutions to improve security and enhance operational practices. The adoption of deep learning and artificial intelligence for video analytics benefits the retail stores to detect and classify objects such as people, vehicles, and retail products in the video and categorize the video for quick access to the video content. The advanced video analytics solution also enables the quantifiable and actionable information analysis beneficial for the retail sector and helps operations and security staff in understanding trends, developing strategies, and making decisions.

For instance, in 2019, Kroger, the US-based retail company announced a strategic partnership with Microsoft Corporation to transform the stores and operations with the adoption of Microsoft Azure-powered video analytics to help stores to maintain the product stock in the stores. The video analytics solution also helped the company to improve store associates' productivity and enhance the customer experience.

Based on regions, the North America region accounted for the largest share in 2020 for the video analytics market

Geographically, the North American region held the maximum video analytics market shares in the year 2020. The dominance of the region on the market is attributed to the well-established technological infrastructure present in the region along with the increasing investments in the security, and surveillance sector in the region. For instance, in March 2021, International Airport based in San Diego, California, the US announced a partnership project with Honeywell Building Technologies, Atlanta-based diversified manufacturing, and technology company. The project is expected to help diversified manufacturing and technology companies to test the usage of advanced video analytics technology to enhance airport health and safety. Companies, organizations, and government institutions present in the region are extensively investing in the adoption and advancements of video analytics solutions for various industries.

The Asia Pacific region is also expected to gain significant growth in global video analytics market during the forecast period. Asia Pacific video analytics market is witnessing an increasing demand from various industries such as the public sector, retail, and transportation sector. For instance, in China, government utilizes a mass surveillance system that uses facial recognition, artificial intelligence, and big data analytics to monitor the Chinese population. In the year 2019, the monitoring CCTVs network consisted of approximately 200 million monitoring CCTV cameras of the "Skynet" system.

The report also provides an in-depth analysis of video analytics market dynamics such as drivers, restraints opportunities and challenges

Drivers

  • Growing government initiatives to adopt emerging technologies to enhance public safety infrastructure
  • Reduced cost of video surveillance equipment and long-term ROI
  • Need to utilize and examine unstructured video surveillance data in real-time
  • Limitations of manual video analysis

Restraints

  • Rise in cyber-attacks and data theft activities
  • Privacy concerns amongst citizens

Opportunities

  • The emergence of edge-based technologies and devices to amplify the use of video analytics
  • Use of drone-based video analytics
  • Integration of AI and cloud technologies with video analytics

Note: Challenges along with in-depth market dynamics analysis is mentioned in the report. Get Sample Copy

COVID-19 Impact on the Video Analytics Market Analysis

The outbreak of the COVID-19 pandemic has shifted the focus of organizations towards the safety and security of human lives. The covid-19 caused profound consequences on public health leading to restrictions on usage of public spaces, public gatherings, and workspaces. Governments and public authorities across the globe faced severe challenges in monitoring and enforcing public adherence during the lockdowns. Numerous leading companies across the globe provided artificial-intelligence-driven covid video analytics solutions that can help organizations, enterprises, authorities, and medical centers to monitor people and better impose necessary restrictions. For instance, in June 2020, a Noida-based online video analytics organization, Vidooly launched an AI-enabled surveillance solution, named ‘COVIDSHIELD’ that is expected to help organizations and authorities with the ability to detect a person with or without a mask, crowd gatherings, the person in distress, person to person proximity and occupancy analytics to track Covid-19 violations as a preventive measure. The company incorporated video analytics solutions to detect and classify the person’s activity and appearance in real-time.

The report also provides an in-depth analysis of key trends in the video analytics market

Sr. No. Trends Impact
1 The increasing adoption of Artificial Intelligence in the surveillance and security industry to maintain public safety and order is propelling the global video analytics market Positive
2 Usage of video analytics tools to detect and analyze the public gatherings, queue and person proximity is observed to grow during the forecast period for global video analytics market Positive
3 Increasing technological advancements such as usage of drone-based video analytics and emergence of edge technologies and devices is anticipated to boost the video analytics market during the forecast period Positive

The report also provides an in-depth analysis of recent news developments and investments

  1. In September 2021, Irisity AB, intelligent camera surveillance that is involved in up-gradation of surveillance cameras and monitoring systems using AI and proactive had announced its successful acquisition of Agent Video Intelligence Ltd., the global provider of innovative AI-powered video analytics software solutions for improved security & safety.
  2. In June 2021, Viisights, innovator of behavioral recognition systems for real-time video intelligence that leverage unique artificial intelligence technology announced its strategic partnership with ReddWare Inc., an American-Israeli provider of cybersecurity and application delivery products for physical, cloud and software-defined data centers. The partnership is expected to innovate preconfigured video analytics and server solutions.

The unique insight provided by this report also includes the following:

  1. In-Depth Value Chain Analysis
  2. Sector Snapshot
  3. Opportunity Mapping
  4. Key Players Positioning Matrix
  5. Strategies Adopted-Benchmarking Heat Map
  6. Video Analytics Market Trends
  7. Regulatory Scenario
  8. Covid-19 Impact Analysis
  9. Product Comparison
  10. Pre & Post Covid 19 Impact on Video Analytics Market
  11. Competitive Landscape

Frequently Asked Questions (FAQs)

What is market value for the global video analytics market?

The global video analytics market was valued at USD 1.6 Bn in 2020 and is anticipated to reach USD 7.5 Bn by 2027.

What is the estimated market growth rate of video analytics Market?

The video analytics market is estimated to grow at a compound annual growth rate (CAGR) of 24.4% during forecast period.

Which region holds the largest market share in video analytics market?

In the base year 2020, North America accounted for largest market share in the video analytics market.

Who are the key players in the video analytics market?

A few key players include, but not limited to: IBM Corporation, Honeywell International Inc., Huawei Investment & Holding Co. Ltd., Bosch Sicherheitssysteme GmbH, Axis Communications AB, i2V Systems Pvt. Ltd, Agent Video Intelligence Ltd, Thales Group, Avigilon Corporation, Intellivision Technologies Private Ltd., Intelligent Security Systems, Cisco Systems, Inc., Verint System Inc., Puretech Systems Inc., and AllGoVision Technologies Pvt. Ltd.

Does the report provide detailed COVID-19 analysis for video analytics market?

Yes, the report contains detailed COVID-19 analysis for video analytics market.

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  1. Introduction
    1. Product outline
    2. Video analytics market definition
    3. Different types of Video analytics  
    4. Analysis of Video analytics  ecosystem
    5. Supply chain analysis
    6. Covid -19 impact
    7. Market dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    8. Technology overview
  2. Technology and Regulatory Landscape for Video Analytics    
    1. Regulations and standards
  3. Video Analytics  Market Pricing Analysis
    1. Prices of Video Analytics   
  4. Video Analytics  Market by Component
    1. Services
    2. Software
  5. Video Analytics  Market  by Deployment Model
    1. On-Premise
    2. Cloud
  6. Video Analytics  Market  by Type
    1. Edge-based
    2. Server-based
  7. Video Analytics  Market by Application
    1. Facial Recognition
    2. License Plate Recognition
    3. Crowd Management
    4. Intrusion Detection
    5. Motion Detection
    6. Others
  8. Video Analytics  Market by End User Industry
    1. Retail and E-commerce
    2. Transportation and Logistics
    3. BFSI
    4. Defense and Border Security
    5. Government
    6. Critical Infrastructure
    7. Others (Education, Manufacturing, Healthcare, etc.)
  9. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Norway
      5. Italy
      6. Spain
      7. Netherlands
      8. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. New Zealand
      6. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  10. Key Strategic Insights
    1. New applications
    2. Emerging technologies
    3. Opportunity mapping
    4. Critical success factors
    5. Environmental impact and sustainability issues
    6. Consumer preferences
  11. Key Market Trends / Recent Developments
  12. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Ranking of Key Players
    4. Presence of players by Geographies
  13. Key Global Players
    1. IBM Corporation
    2. Honeywell International Inc.
    3. Huawei Investment & Holding Co. Ltd.
    4. Bosch Sicherheitssysteme GmbH
    5. Axis Communications AB
    6. i2V Systems Pvt. Ltd
    7. Agent Video Intelligence Ltd
    8. Thales Group
    9. Avigilon Corporation
    10. Intellivision Technologies Private Ltd.
    11. Intelligent Security Systems
    12. Cisco Systems, Inc.
    13. Verint System Inc.
    14. Puretech Systems Inc.
    15. AllGoVision Technologies Pvt. Ltd
    16. Cisco Systems, Inc.
    17. Dahua Technologies Co. Ltd.
    18. Aventura Technologies Inc.
    19. Siemens
    20. Digital Barrier
    21. Textron Systems
    22. Hikvision
    23. Qognify
    24. Genetec Inc.
    25. Gorilla Technology
    26. Viseum
    27. NEC Corp.
    28. Drishti Technologies
    29. Ipsotek
    30. Iomniscient
    31. DeepNorth

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