The global video analytics market size is expected to reach USD 9.4 billion by 2025,
according to a new study by Grand View Research, Inc., registering a 22.8% CAGR
over the forecast period. Increasing demand for intelligent security
surveillance systems, which can be used for estimating key trends and deriving
patterns, is the key factor driving market growth. In addition, increasing
concerns over public safety and use of video analytics in criminal
investigations are positively impacting demand for video analytics solutions.
Apart from surveillance, video analytics solutions have
also found increasing application in the retail sector for estimating average
footfall, gender bifurcation, display effectiveness, and attractiveness of
shelf space. Furthermore, superstores and mega marts have started implementing
these systems to gain insight into consumer behavior.
Use of advanced algorithm technology in video analytics
enables examination of captured videos frame by frame, irrespective of light
exposure, thereby making video analytics a reliable and efficient choice for
ensuring security. Furthermore, industries such as transportation, retail, and
healthcare are witnessing significant increase in the adoption of video
analytics, owing to rising application of intrusion detection, license plate
recognition, crowd management, and congestion detection in these industries.
Further key findings from the study suggest:
· Facial recognition is expected to emerge as
the fastest growing application segment with a CAGR of 25.9% from 2017 to 2025.
This can be attributed to widening scope of facial recognition solutions for
surveillance purposes at malls, events, airports, and public transport, among
others
· By type, the services segment is projected
to register the highest CAGR of 24.0% for the next eight years. This can be
attributed to increasing demand for and installation of video analytics
solutions, which are, in turn, propelling demand for related managed and
professional services
· The cloud segment is anticipated to emerge
as the most preferred deployment option for video analytics solutions as it
offers flexibility and convenience, allows remote access, and provides easy
maintenance
· North America accounted for the largest
share in 2016 and is driven by presence of prominent market players who
consistently work on developing new and innovative technologies in video
analytics
· The retail end-use segment is anticipated
to register the highest CAGR of 25.6% over the forecast period. This may
be attributed to use of video analytics in applications such as people
counting, display and promotion effectiveness, product placement and store
layout, and customer preference pattern analysis
· Asia Pacific is expected to experience the
highest growth from 2017 to 2025, driven by emerging economies such as India
and China. These nations are expected to augment their expenditure on
intelligent and security surveillance systems
· Key industry participants include Cisco
Systems, Inc.; Axis Communications AB; Bosch Security Systems GmbH; Agent Video
Intelligence Ltd.; Honeywell International Inc.; IBM Corporation; AllGoVision
Technologies Pvt. Ltd.; Genetec Inc.; Aventura Inc.; and i2v System Pvt. Ltd.
Grand View Research has segmented the global video
analytics market based on type, deployment, application, end use, and region.
Video
Analytics Type Outlook (Revenue, USD Million, 2014 - 2025)
·
Software
·
Services
Video
Analytics Deployment Outlook (Revenue, USD Million, 2014 - 2025)
·
Cloud
·
On-premise
Video
Analytics Application Outlook (Revenue, USD Million, 2014 - 2025)
·
Crowd Management
·
Facial Recognition
·
Intrusion Detection
·
License Plate Recognition
·
Motion Detection
·
Others
Video
Analytics End-use Outlook (Revenue, USD Million, 2014 - 2025)
·
BFSI
·
City
·
Critical Infrastructure
·
Education
·
Government
·
Retail
·
Transportation
·
Others
Video
Analytics Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o U.K.
o Germany
·
Asia Pacific
o China
o Japan
o India
·
Latin America
o Brazil
·
Middle East & Africa (MEA)
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
