Global Video Analytics Market (2021 to 2026) - Use of Drone-Based Video Analytics Presents Opportunities
DUBLIN, Nov. 8, 2021 /PRNewswire/ -- The "Video Analytics Market with COVID-19 Impact, by Component, Application (Intrusion Management, Incident Detection, People/Crowd Counting, Traffic Monitoring), Deployment Model (On-premises and Cloud), Type, Vertical, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global video analytics market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 20.4% during the forecast period, to reach USD 14.9 billion by 2026 from USD 5.9 billion in 2021.
Key factors that are expected to drive the growth of the market are the increasing investments and focus of governing institutions on public safety, need to utilize and examine unstructured video surveillance data in real time, significant drop in crime rate due surveillance cameras, growing need among enterprises to leverage BI and actionable insights for advanced operations, limitation of manual video analysis, government initiatives in adopting emerging technologies to enhance the public safety infrastructure, reduced cost of video surveillance equipment and long term RoI and demand for enhanced video surveillance.
The COVID-19 impact on the global video analytics market
The recent economic slowdown with the impact of COVID-19 emphasizes the need for alternate business systems. It has become important for businesses to embrace cloud computing and migrate to cloud video analytics solutions. This will help organizations to have a stable business condition in the short term while targeting continued growth and expansion in the long run. The recent COVID-19 crisis has shifted the focus on safety and security of human lives. Also, the emergence of intuitive technologies mainly the Ai-based surveillance systems based on deep learning and computer vision technologies. The organizations are utilizing video analytics solutions across end user industries due to variety of benefits including dynamically attain situational awareness, proactively drive real time alerting, and scheduling BI dashboard.
Edge-based segment to grow at a higher CAGR during the forecast period
Based on the type, the market is segmented into two categories edge based and server based video analytics. Edge-based segment is expected to grow at a higher CAGR during the forecast period. Edge-based video analytics evolves with the emergence of new powerful in-build chipsets in cameras that offer higher computational capabilities at the edge. Such systems inform operators on a wide range of real-time video or audio events requiring attention and providing more sophisticated analytics, such as queue management and heat maps that offer new opportunities for business and traffic intelligence.
Advancements in deep learning and its integration with the edge system are expected to drive the adoption in the coming years. Deep learning takes ML to another level based on neural network principles that impersonate the complexity of the human brain. Earlier, the functionality was mainly available at server-side processes, which would require videos to be decompressed and processed. Edge-based devices need external inputs to learn from before proving as a useful tool to recognize known objects and behaviors.
On-premises segment to account for a higher market share during the forecast period.
The video analytics market is segmented by deployment type into on-premises and cloud segment. The on-premises segment account for a higher share of the video analytics market during the forecast period. This approach is mostly adopted for applications that involve the processing of sensitive and confidential data volumes. These data volumes include internal and external surveillance footage and video feeds of business operations that contain confidential information and crucial insights. In the on-premises deployment, companies have to install the required hardware parts, such as OS, storage devices, servers, cameras, and routers, as well as video analytics software. Several large organizations are deploying on-premises video analytics due to privacy and security concerns related to confidential data.
Transportation and logistics vertical to grow at a higher CAGR during the forecast period.
Transport and logistics is one of the fastest-growing verticals during the forecast period. Video surveillance has become an important part of the transportation and logistics vertical. The various benefits of video analytics for the transportation and logistics vertical are the elimination of overcrowding, behavior analysis, enhanced safety measures, incident recording, and detection of blind spots. Video analytics can contribute to the enhancement and betterment of this vertical for commuters while providing improved safety benefits. The various features offered by video analytics, such as facial recognition, object tracking, unidentified object detection, cargo and train carriage recognition, and intelligent traffic monitoring, can help transportation and logistics companies prevent disasters and detect emerging threats, which may lead to infrastructure destruction or vehicle crashing, resulting in the loss of life.
North America to account for the highest market share during the forecast period.
The video analytics market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The video analytics report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the highest market share in the overall video analytics market during the forecast period. Following North America tops the world in terms of the presence of security vendors and the occurrence of security breaches.
Therefore, the global video analytics market is dominated by North America, which is the most advanced region with regard to technological adoption and infrastructure. The growing concerns about the protection of critical infrastructure and national borders have increased government intervention in recent years. Specific budget allocations, such as the budget for The Department of Homeland Security, and mandated security policies are expected to make North America the most lucrative market for vendors from various verticals. The North American market covers the analysis of the US and Canada. The protection of critical infrastructure is the most serious economic and national security challenge for the governments of both countries. Many governments and law enforcement agencies in the US and Canada are taking initiatives for strengthening their security infrastructure. The US and the Canadian governments are continuously working with law enforcement agencies to prevent violent extremism and counter terrorism-related incidents.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of the Video Analytics Market
4.2 Market, by Deployment Model
4.3 Market, by Application, 2021 Vs. 2026
4.4 Market, by Vertical, 2021 Vs. 2026
4.5 Market, by Type,
4.6 Market: Investment Scenario, 2021-2026
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Investments and Focus of Governing Institutions on Public Safety
5.2.1.2 Need to Utilize and Examine Unstructured Video Surveillance Data in Real-Time
5.2.1.3 Significant Drop in Crime Rate Due to Surveillance Cameras
5.2.1.4 Growing Need Among Enterprises to Leverage Bi and Actionable Insights for Advanced Operations
5.2.1.5 Limitations of Manual Video Analysis
5.2.1.6 Government Initiatives in Adopting Emerging Technologies to Enhance the Public Safety Infrastructure
5.2.1.7 Reduced Cost of Video Surveillance Equipment and Long-Term Roi
5.2.1.8 Demand for Enhanced Video Surveillance
5.2.2 Restraints
5.2.2.1 Increasing Cyberattacks and Data Theft Activities
5.2.2.2 Government Regulations Related to Cctv Surveillance
5.2.2.3 Investments in Existing Legacy Surveillance Systems to Prevent the Implantation of New Advanced Solutions
5.2.2.4 Privacy Concerns Among Citizens
5.2.3 Opportunities
5.2.3.1 Use of Drone-Based Video Analytics
5.2.3.2 Emergence of Edge Technologies and Devices to Amplify the Use of Video Analytics
5.2.3.3 Predictive Information Using Video Analytics
5.2.3.4 Integration of Ai and Cloud Technologies with Video Analytics
5.2.3.5 Surging Demand for Video Analytics Solutions in Non-Government Sectors
5.2.3.6 Growing Use of Facial Recognition Across Applications
5.2.4 Challenges
5.2.4.1 High Initial Costs of Investment, Installation, and Maintenance
5.2.4.2 Interoperability Complexities and Support for Older Equipment of Surveillance Systems
5.2.4.3 Extreme Functional Conditions
5.2.4.4 Problems in Isolated and Remote Locations
5.2.4.5 False Alarms and Lack of Reliability
5.3 Case Study Analysis
5.4 Technological Analysis
5.4.1 Artificial Intelligence and Machine Learning
5.4.2 Cloud Computing
5.4.3 Edge Computing
5.4.4 Big Data and Analytics
5.4.5 Internet of Things
5.5 COVID-19-Driven Market Dynamics
5.5.1 Drivers and Opportunities
5.5.2 Restraints and Challenges
5.6 Porter's Five Forces Analysis
5.6.1 Threat of New Entrants
5.6.2 Threat of Substitutes
5.6.3 Bargaining Power of Suppliers
5.6.4 Bargaining Power of Buyers
5.6.5 Intensity of Competitive Rivalry
5.7 Pricing Analysis
5.8 Ecosystem
5.9 Supply Chain Analysis
5.10 Regulations
5.11 Patent Analysis
5.12 Trends/Disruptions Impacting Buyers
6 Video Analytics Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
6.1.2 Component: Covid-19 Impact
6.2 Software
6.3 Services
6.3.1 Managed Services
6.3.2 Professional Services
7 Video Analytics Market, by Deployment Model
7.1 Introduction
7.1.1 Deployment Model: Market Drivers
7.1.2 Deployment Model: Covid-19 Impact
7.2 On-Premises
7.3 Cloud
8 Video Analytics Market, by Application
8.1 Introduction
8.1.1 Application: Market Drivers
8.1.2 Application: Covid-19 Impact
8.2 Incident Detection
8.3 Intrusion Management
8.4 People/Crowd Counting
8.5 Traffic Monitoring
8.6 Automatic Number Plate Recognition
8.7 Facial Recognition
8.8 Other Applications
9 Video Analytics Market, by Type
9.1 Introduction
9.1.1 Type: Market Drivers
9.1.2 Type: Covid-19 Impact
9.2 Server-Based
9.3 Edge-Based
10 Video Analytics Market, by Vertical
10.1 Introduction
10.1.1 Vertical: Market Drivers
10.1.2 Vertical: COVID-19 Impact
10.2 Banking, Financial Services, and Insurance
10.3 City Surveillance
10.4 Critical Infrastructure
10.5 Education
10.6 Hospitality and Entertainment
10.7 Manufacturing
10.8 Defense and Border Security
10.9 Retail
10.10 Traffic Management
10.11 Transportation and Logistics
10.12 Other Verticals
11 Video Analytics Market, by Region
12 Competitive Landscape
12.1 Introduction
12.2 Key Strategies by Top Vendors
12.3 Market Share of Top Vendors
12.4 Ranking of Key Players in the Market, 2021
12.5 Revenue Analysis of Top Market Players
12.6 Company Evaluation Quadrant
12.6.1 Definitions and Methodology
12.6.2 Star
12.6.3 Emerging Leaders
12.6.4 Pervasive
12.6.5 Participants
12.7 Sme Evaluation Quadrant
12.7.1 Definitions and Methodology
12.7.2 Progressive Companies
12.7.3 Responsive Companies
12.7.4 Dynamic Companies
12.7.5 Starting Blocks
12.8 Competitive Scenario
13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 Avigilon
13.2.2 Axis Communications
13.2.3 Cisco
13.2.4 Honeywell
13.2.5 Agent VI
13.2.6 Allgovision
13.2.7 Aventura Systems
13.2.8 Genetec
13.2.9 Intellivision
13.2.10 Intuvision
13.2.11 Puretech Systems
13.2.12 Hikvision
13.2.13 Dahua
13.2.14 Iomniscient
13.2.15 Nec
13.2.16 Huawei
13.2.17 Gorilla Technology
13.2.18 Intelligent Security Systems
13.2.19 Verint
13.2.20 Viseum
13.2.21 Briefcam
13.2.22 Bosch Security
13.2.23 I2V
13.2.24 Digital Barriers
13.2.25 Senstar
13.2.26 Qognify
13.2.27 Identiv
13.2.28 Ipsotek
13.2.29 Delopt
13.3 Sme/Start-Ups
13.3.1 Drishti Technologies
13.3.2 Natix
13.3.3 Deepnorth
13.3.4 Cronj
13.3.5 Microtraffic
13.3.6 Actuate
13.3.7 Calipsa
13.3.8 Athena Security
13.3.9 Corsight AI
13.3.10 Arcules
13.3.11 Cawamo
13.3.12 Kogniz
13.3.13 Durac
14 Adjacent Market
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/b778c7
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