The video analytics market is anticipated to increase from USD 8.3 billion in 2023 to USD 22.6 billion in 2028 at a Compound Annual Growth Rate (CAGR) of 22.3%. Video analytics software is becoming more and more popular as more CCTV and surveillance systems are installed.
Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=778
By offering, the software segment will hold a larger market size during the forecast period.
Video analytics software plays a vital role in video surveillance systems. Nowadays, businesses of all types are using this software to ensure the safety of their employees and premises. It enables organizations to collect and analyze crucial data, helping them make informed decisions based on the intelligently analyzed data provided by the software. The software has come a long way, revolutionizing video surveillance. The software has eliminated the need for manual intervention and continuous human monitoring. During emergencies, video analytics also provides real-time alerts. Video analytics software has many features and capabilities designed to extract valuable insights and information from video data across various industries, such as security and surveillance, retail, healthcare, and transportation. The software has eliminated the drawbacks of traditional video surveillance systems by offering capabilities that are instrumental in detecting abnormalities and criminal activities, ensuring optimum operational efficiency.
By Application, the Intrusion management segment holds the second-largest market share during the forecast period.
Intrusion management refers to monitoring outdoor areas and perimeters to detect intrusion incidents by deploying intrusion detection systems. These systems are essential in improving the security infrastructure at public places and critical infrastructure such as airport perimeters, rail yards, bridges, refineries, chemical plants, data centers, and other outdoor assets. Video analytics also enables such systems to analyze security breaches over large areas, pinpointing targets in real-time. Pan-tilt-zoom (PTZ) cameras help pursue detected intruders. Thermal sensors-coupled cameras integrated with video analytics and PTZ tracking sensors enable the detection of unauthorized entities with higher accuracy and lower costs.
By Region, Asia Pacific will grow at the highest CAGR during the forecast period.
Video analytics software has gained significant popularity in the Asia Pacific due to technological advancements, increasing security concerns, and a growing emphasis on smart city initiatives. Major cities in China, such as Beijing and Shanghai, have integrated video analytics into their surveillance networks for crowd monitoring, traffic management, and public safety. Facial recognition systems are deployed in public spaces. The region recognizes the importance of video analytics for ensuring security, streamlining operations, and harnessing the power of visual data. Therefore, it is crucial to Asia Pacific’s continued growth and development. Video analytics technology is becoming increasingly popular in various regions across the globe. In India, this technology is used in transportation hubs and urban areas to improve security measures and optimize traffic flow. The demand for intelligent surveillance solutions has risen due to rapid urbanization, population growth, and increasing security concerns. In expanding smart cities like Singapore, Shanghai, and Tokyo, the deployment of video analytics has become crucial for advanced traffic management, public safety, and efficient urban planning. Furthermore, the retail sector in Japan and China has also recognized the need for video analytics to gain deeper customer insights, optimize store layouts, and improve operational efficiency.
Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=778
Unique Features in the Video Analytics Market
Video analytics solutions are designed to deliver real-time insights by processing live video feeds. This enables instant detection of abnormal activities, such as intrusions, crowd formation, or unattended objects, allowing for proactive responses and enhanced situational awareness.
The incorporation of AI and deep learning algorithms has significantly advanced the capabilities of video analytics. These technologies allow for more accurate object recognition, behavioral analysis, facial recognition, and license plate identification with minimal false positives.
Edge computing is becoming increasingly common in video analytics, where data processing occurs directly on the camera or nearby devices. This reduces latency, eases network congestion, and enhances privacy by limiting data transmission to central servers.
Modern solutions can correlate video data from multiple cameras across various angles and locations. This enables holistic scene understanding, people or object tracking across frames, and improved accuracy in event detection.
Major Highlights of the Video Analytics Market
The video analytics market is experiencing strong growth due to increasing demand for real-time surveillance, safety automation, and smart monitoring solutions across sectors such as retail, transportation, banking, and public safety. Organizations are increasingly investing in intelligent video solutions to enhance operational efficiency and threat detection.
Artificial intelligence is revolutionizing the video analytics landscape, with solutions now offering advanced features like facial recognition, anomaly detection, motion tracking, and demographic analysis. Vendors are leveraging machine learning to continuously improve accuracy and reduce false alarms.
Beyond traditional security, video analytics is now widely used in areas like retail customer behavior analysis, traffic management, smart city infrastructure, industrial automation, and healthcare monitoring. This diversification is driving broader market penetration and innovation.
Governments globally are increasingly investing in video analytics for urban surveillance, border security, and crime prevention. Smart city initiatives and national security concerns are further accelerating public sector adoption of intelligent video systems.
Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=778
Top Companies in the Video Analytics Market
Some of the key players operating in the video analytics market are – Avigilon (Canada), Axis Communications (Sweden), Cisco (US), Honeywell (US), IBM (US), AllGoVision (India), Genetec (Canada), IntelliVision (US), Gorilla Technology (Taiwan), and Eagle Eye Networks (US).
Avigilion
Avigilon is a company that focuses on enhancing its security and video analytics product portfolio through organic growth strategies. They have a diverse range of products that cover all significant features of video analytics applications. In addition to launching new products and upgrading existing ones, they have expanded their customer base by partnering with security solution providers worldwide. The latest technological features, such as facial recognition, appearance search, motion detection, and AI-powered video management software, drive Avigilon’s video analytics solutions. The company’s acquisition by Motorola enables them to penetrate new market segments and deliver innovations by providing more value to their customers. The company aims to excel in its core product and service areas, particularly security and video analytics. It has a robust partner ecosystem to support its video analytics solutions. The company is increasingly focusing on new product development and upgrades, such as its recent launch of an artificial intelligence network video recorder. This innovative product combines traditional Avigilon NVR with the capabilities of Avigilon AI appliances to provide organizations with a solution that meets their analytics, storage, cybersecurity, and cloud requirements.
Axis Communications
Axis Communications is a significant participant in the video analytics market and is committed to providing high-quality products to its customers. The company focuses on diversifying and expanding its product portfolio and market by adopting organic and inorganic growth strategies to fulfill this commitment. These strategies include acquisitions, collaborations, and product upgrades. Additionally, the company has an extensive global network spanning 50 countries and over 90,000 partners. The company strongly focuses on organic growth strategies aimed at developing new products and enhancing existing ones. For instance, it recently launched the AXIS Q6078-E PTZ camera that supports UHD 4K resolution and offers 20x zoom, which has improved video quality and built-in cybersecurity features.
Cisco
Cisco, based in the US, is a leading global provider of networking and IT solutions, including offerings in the video analytics market. Their video analytics solutions leverage advanced technologies such as artificial intelligence (AI) and machine learning (ML) to analyze video data in real-time. Cisco’s video analytics platform enables organizations to extract valuable insights from video streams, including object detection, facial recognition, and behavior analysis. These insights can be used for various applications, including security monitoring, retail analytics, and crowd management. With a focus on scalability, reliability, and security, Cisco’s video analytics solutions help organizations enhance safety, efficiency, and decision-making processes.
IBM
IBM, based in the US, is a prominent player in the video analytics market. Leveraging its expertise in artificial intelligence (AI) and machine learning (ML), IBM offers advanced video analytics solutions that enable organizations to derive valuable insights from video data. IBM’s video analytics platform utilizes cutting-edge algorithms to analyze video streams in real-time, detecting objects, identifying patterns, and extracting meaningful information. These insights can be applied across various industries, including security, retail, transportation, and healthcare. With a focus on innovation and scalability, IBM helps organizations harness the power of video analytics to enhance safety, optimize operations, and drive business growth.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/intelligent-video-analytics-market-778.html