IMARC Group has recently released a new research study 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”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
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.
Request to Get the Sample Report:
https://www.imarcgroup.com/video-analytics-market/requestsample
Global Video Analytics Market Trends:
The global video analytics market is driven by several key factors shaping its growth trajectory, such as the increasing demand for advanced video surveillance solutions across various sectors such as retail, transportation, and healthcare.
Moreover, the integration of artificial intelligence (AI) and machine learning (ML) technologies within video analytics systems enhances operational efficiency and real-time threat detection capabilities, fostering market adoption. Furthermore, rising concerns regarding public safety and security globally are driving investments in sophisticated video analytics solutions for proactive monitoring and crime prevention.
Additionally, the proliferation of smart cities initiatives worldwide is boosting the deployment of video analytics for traffic management, crowd monitoring, and urban planning applications.
Factors Affecting the Growth of the Video Analytics Industry:
Increasing Demand for Advanced Video Surveillance Solutions:
The global video analytics market is witnessing a surge in demand for advanced surveillance solutions across various sectors such as retail, transportation, and healthcare. This growth is driven by the need for enhanced security measures and operational efficiencies. In retail, video analytics systems are employed to monitor store activities, analyze customer behavior, and prevent theft. Transportation sectors utilize video analytics for traffic management, monitoring of public spaces, and enhancing passenger safety. Healthcare facilities deploy video analytics for patient monitoring, asset tracking, and ensuring compliance with safety protocols. These applications highlight the versatility and critical role of video analytics in improving situational awareness and response times. As organizations seek more proactive security measures, the integration of video analytics with AI and ML technologies enables real-time threat detection and predictive analytics, further bolstering market growth.
Integration of AI and ML Technologies:
The integration of artificial intelligence (AI) and machine learning (ML) technologies within video analytics systems marks a significant advancement in the market. AI and ML enable video analytics platforms to autonomously learn and adapt to changing environments, enhancing accuracy and reducing false alarms. For instance, AI-powered facial recognition algorithms improve the identification and tracking of individuals in real-time, crucial for security and surveillance applications. ML algorithms analyze video streams to detect anomalies, identify patterns, and predict potential security threats. This capability is pivotal in critical infrastructure protection, where early detection of suspicious activities can prevent security breaches.
Moreover, AI-driven video analytics systems offer scalability, allowing organizations to process and analyze vast amounts of video data efficiently. As industries increasingly rely on data-driven insights for decision-making, AI and ML integration positions video analytics as a cornerstone technology for next-generation surveillance and operational intelligence solutions.
Rising Concerns Regarding Public Safety and Security:
Global concerns over public safety and security are driving significant investments in advanced video analytics solutions. Governments and enterprises are increasingly leveraging video analytics to monitor public spaces, detect criminal activities, and ensure the safety of citizens and infrastructure. Video analytics systems equipped with intelligent monitoring capabilities enhance situational awareness by providing real-time alerts and actionable insights to security personnel. In urban environments, video analytics supports smart city initiatives by optimizing traffic flow, monitoring crowds during events, and enhancing emergency response capabilities. The integration of advanced features such as facial recognition and behavior analytics further strengthens security measures, enabling proactive threat prevention and effective incident management. As urban populations grow and security threats evolve, the adoption of video analytics as a preemptive security measure continues to expand, driving the market's growth trajectory globally.
Video Analytics Market Report Segmentation:
By Component:
- Software
- Services
Software represented the largest segment due to its versatility in integrating with existing systems and providing advanced analytics capabilities crucial for operational insights and decision-making.
By Deployment Type:
- On-Premises
- Cloud
On-Premise represented the largest segment primarily because it offers greater control over data security and compliance, which is critical in sectors like finance and healthcare where data privacy regulations are stringent.
By Application:
- Incident Detection
- Intrusion Management
- People/Crowd Counting
- Traffic Monitoring
- Automatic Number Plate Recognition
- Facial Recognition
- Others
Intrusion Management represented the largest segment owing to its essential role in detecting and mitigating security breaches, thus addressing the increasing need for robust security measures across various industries.
By Architecture Type:
- Edge-Based
- Server-Based
Edge-based represented the largest segment due to its capability to process data closer to the source, reducing latency and bandwidth usage, which is particularly advantageous in applications requiring real-time analytics such as IoT and smart cities.
By Organization Size:
- Small and Medium Enterprise
- Large Enterprise
Large Enterprises represented the largest segment because they have the resources to invest in comprehensive video analytics solutions that support complex operations and large-scale deployments across multiple locations.
By End User:
- BFSI
- Retail
- Critical Infrastructure
- Traffic Management
- Transportation and Logistics
- Hospitality and Entertainment
- Defense and Security
- Others
Retail represented the largest segment as retail environments benefit significantly from video analytics for enhancing store operations, optimizing customer experiences, and preventing theft and fraud.
Regional Insights:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
North America was the largest market primarily driven by early adoption of advanced technologies, stringent regulatory frameworks promoting security solutions, and high investments in smart city projects and infrastructure development.
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.
Ask Analyst for Customized Report:
https://www.imarcgroup.com/request?type=report&id=2433&flag=C
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.
About Us
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.
Contact Us:
IMARC Group
134 N 4th St
Brooklyn, NY 11249, USA
Website: imarcgroup.com
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800
