Global Video Analytics Market was valued at USD 4.6billion in 2019 which expected to reach USD 13.55 billion by 2027 at a CAGR 19.2%.
Video analytics is defined as computerized processing and automatic analysis of the video content generated, monitored or collected during video surveillance. Video analytics automates video surveillance process by delivering high-end benefits to the users with reduced cost and efficient service delivery.
Increase in investments and focus of governing institutes on public safely is the key driving factor which is expected to boost the global video analytics market growth. Furthermore, rise in need to utilize and examine unstructured video surveillance data in real time will have the positive impact on market growth. Moreover, increase in need among enterprises to leverage BI and actionable insights for advanced operations will fuel the market growth. Also, growing use of facial recognition across various applications will drive market growth in near future.
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However, high initial costs of investment, installation, and maintenance are the major restraining factors which are expected to hamper the global video analytics market growth. Also, increase in cyber-attacks and data theft activities as well as privacy concerns among citizens will affect the market growth.
The report has been prepared after studying the different parameters ruling the global Video Analytics market and the forecast period has been estimated from 2020-2027. The forecast period is the time period when the key driving factors and parameters will help the market to flourish significantly.
The report includes the key driving forces prevailing in the global Video Analytics market. This part of the report has been studied keeping in mind the political, economic, social, technological, geographical, and cultural scenario of the global Video Analytics market. These factors can be projected to have their effects on the market, or they can have interconnected impacts. Besides, subtle change in the timeframe within which these factors are functioning might have ripple effects on the global Video Analytics market.
Market Key Players
Various key players are discussed in this report such as CISCO, AXIS COMMUNICATIONS, AVIGILON, HONEYWELL, ALLGOVISION, AGENT VI, GENETEC, AVENTURA and IBM.
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Global Video Analytics Market Segmentation
By Organization Size
• Small and Medium Size Enterprises
• Large Enterprises
• Transportation & Logistics
• North America
• Latin America
• Asia Pacific
• Middle East & Africa
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