The new report by Expert Market Research titled, ‘Global Video Analytics Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global video analytics market, assessing the market based on its segments like type, component type, deployment, application, end use, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
- Historical Market Size (2020): USD 7.49 Billion
- Forecast CAGR (2021-2026): 21%
- Forecast Market Size (2026): USD 23.5 Billion
The global video analytics market is driven by the growing need for video surveillance in various sectors. The increasing incidence of terror attacks and anti-social activities have increased the demand for 24 hours surveillance. The surveillance of huge amount of data to detect real time threats and alarms have created the demand for video analytic software. Further, the errors caused by manual surveillance of video data drives the demand for video analytic software. Additionally, advances in the artificial intelligence, face recognition and CCTV technologies will further aid to the growth of video analytics market in the forecast period.
Industry Definition and Major Segments
Video analytics refers to tools used for the analysis of video sources in near real-time. When watching the videos, through video analysis of regulated environments, the software identifies features, behaviours, or patterns of unique behaviour. The program can generate automatic alerts and can allow historical records to be checked forensically.
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By component type, the market is divided into:
- Software
- Services
Based on type, the market segmented into:
- Service Based
- EDGE Based
Based on deployment type, the market segmented into:
- Cloud
- On Premise
On the basis of application, the market is divided into:
- Incident Detection
- Intrusion Management
- People/Crowd Counting
- Traffic Monitoring
- Automatic Number Plate Recognition
- Facial Recognition
- Others
Based on end-use, the market is segmented into:
- Education
- Retail
- Government
- Critical Infrastructure
- Transportation
- Others
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Market Trends
Regionally, North America holds the largest share in global video analytic market. This is attributed to presence ho key players, growing advances in software development sector and widespread of surveillance cameras. Meanwhile, Asia Pacific is expected to witness rapid growth owing to increasing industrial and infrastructural development, in the forecast period.
Key Market Players
The major players in the market are Axis Communications AB, Honeywell International Inc, Bosch Sicherheitssysteme GmbH, Avigilon Corporation, Cisco Systems Inc., IBM Corporation, Genetec Inc., and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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