Video Analytics Software and Services Market Size to Reach USD 20.80 Billion by 2027 - Valuates Reports

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BANGALORE, India, June 17, 2020 /PRNewswire/ -- Video analytics technology was created to help review the growing hours of surveillance video by automatically tracking video frames of individuals, cars, and items, and analyze historical data to mine insights. 

The video analytics software and services market size was valued at USD 4.10 Billion in 2019 and is projected to reach USD 20.80 Billion by 2027, growing at a CAGR of 22.7% from 2020 to 2027.

The report focuses on growth, limitations, and trends in the video analytics market. The study offers a detailed Porter's five forces analysis to understand the effect of various variables, such as supplier negotiating ability, competitive competition, newcomers' risks, alternative challenges, and buyers' negotiating power on the global market.

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TRENDS INFLUENCING THE VIDEO ANALYTICS MARKET SIZE

• Video surveillance needs are increasing, and the demand for video analytics is growing in many industries, including government, public, BFSI, retail, airports, and manufacturing. This increasing need is facilitating the market growth.
• Other major factors which drive the growth of the video analysis market size during the forecast period are, the inefficiency of surveillance professionals to manually monitor and recognize suspicious events from numerous video data, and the increasing need to obtain actionable views from a large amount of video data generated from several video sources.
• Growing concerns about the protection and safety of the public further fuels the growth of the video analytics market size. Facial recognition and automatic number plate recognition are application-specific uses of video surveillance in which video analytics technology is used to analyze persons and vehicles, respectively. In addition, intelligent video analytics are proven to reduce crime rates through timely warnings on suspicious or unusual activities, and this factor is expected to fuel the growth of the video analytics market size.
• An increase in demand for IP-based security cameras is predicted to increase the video analytics market size during the forecast period. The growth of IP-based security is driven by an increase in IP infrastructure, increased telephone density, and demand for remote access.
• The rise in the construction of smart cities is expected to increase the demand for video surveillance and connected devices.

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VIDEO ANALYTICS MARKET SHARE ANALYSIS

In 2019, the retail sector dominated the overall market share of video analysis and will show substantial growth over the forecast period. The sector's growth is largely due to the need to track customer behavior, buying preferences, the selection pattern, and the amount of time consumed in those segments.

North America remains the largest provider of video analysis software in the world. The United States and Canada are the major contributors to this region. The USA is a dominant market, and companies in the country invest a substantial proportion of its annual revenues in the use of city-wide surveillance cameras.

The Asia Pacific became the second-largest market, and this can be attributed to countries like India, China, and Indonesia's fast economic growth. To guarantee their citizens' safety, these economies invested in intelligent security surveillance systems. The growing implementation of industrial solutions is expected to drive the market, especially in China, Japan, and India, combined with the rising use of cloud-based technologies.

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TOP VIDEO ANALYTICS COMPANIES

• AllGoVision Technologies Pvt. Ltd.
• Aventura Technologies, Inc.
• Axis Communications AB
• Cisco Systems, Inc.
• Honeywell International, Inc.
• IBM Corporation
• Intellivision
• PureTech Systems, Inc.
• Verint Systems, Inc.
• Quognify
• Others.

KEY MARKET SEGMENTS

By Component Type

• Software
• Services

By Deployment Type

• On-Premise
• Cloud

By Organization Size

• Small & Medium Enterprise
• Large Enterprise

By Application

• Retail
• Queue Management
• Staff Management
• Store and Inventory Management
• Aisle management
• Product Placement Analysis
• Customer Shopping and Buying Behavior Analysis
• Intrusion detection
• Others
• Healthcare
• Patient Monitoring
• Staff Management
• Emergency procedure management
• Remote Monitoring
• Security and Safety Management
• Facility management
• Access Control Management
• Others
• BFSI
• Customer Management
• Security and Safety Management
• Queue Monitoring
• Customer Behavior Analysis
• Staff Management
• Sales and Marketing Management
• Access Control Management
• Intrusion detection
• Others
• Transportation & Logistics
• Traffic management
• Security and Safety Management
• Time management
• Driver and Passenger Behavior Analysis
• Crowd management
• Parking Management
• Vehicle/Number Plate recognition
• Object recognition and tracking
• Intrusion detection
• Speeding Detection
• Others
• Government
• Intrusion Detection
• People/Face detection/recognition and tracking
• Security and Safety Management
• Incident Detection
• Resource Management
• Crowd Management
• Object recognition and tracking
• Others
• Manufacturing
• Intrusion detection
• Security and Safety Management
• Site Management
• Remote Monitoring
• Access Control Management
• Post-incident investigation
• Streamlining Operations
• Inbound/Outbound Management
• Others
• Mining
• Perimeter Security
• Remote monitoring
• Access Control Management
• Object recognition and tracking
• Employee Safety Management
• Process Control Monitoring
• Others
• Others

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• Content Analytics Market Report

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• Video Surveillance Market Report

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Governments, enterprises, financial institutions, and healthcare organizations are expected to have a certain level of security and monitoring measures. As a result, there has been a dramatic increase in the demand for security applications such as video surveillance to monitor and record video data. This necessity is, in turn, expected to increase the Video surveillance market size.

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• Intelligent Video Analytics IVA Market Report

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This report focuses on the global Intelligent Video Analytics IVA market size, future forecast, growth opportunity, key market, and key players. The study objectives are to present the Intelligent Video Analytics IVA development in the United States, Europe, and China.

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• AI powered Video Analytics Market Report

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During the period forecast, North America will help to accelerate the growth of the smart video surveillance industry. The AI-powered video analysis market size and share in this field would be positively influenced by factors, such as the growing need for rising overall efficiency, corporate analysis, and growing OTT services.

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• Public Video Analytics Market Report

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• Face Recognition Market Report

The Global Facial Recognition Market size will grow from USD 3.54656 Billion in 2019 to USD 9.99235 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.84%.

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View Full Report: https://reports.valuates.com/market-reports/360I-Auto-6F17/global-face-recognition

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