Video Analytics Market by Component, Deployment Model, Application, Vertical

List of Tables

[199 Pages Report] The Video Analytics Market size was estimated at USD 7.89 billion in 2023 and expected to reach USD 9.62 billion in 2024, at a CAGR 22.97% to reach USD 33.56 billion by 2030.

Video analytics, also called video content analysis or intelligent video analytics, is extracting relevant information, patterns, and insights from video footage. This technology employs advanced algorithms, artificial intelligence, and machine learning techniques to examine video feeds in real-time or from recordings to recognize behaviors, events, and objects without human intervention. It is extensively used for security and surveillance, where it aids in the detection of unauthorized activities, tracking movements, and identifying potential threats. Additionally, video analytics is utilized across various industries, including retail, transportation, and healthcare, for customer behavior analysis, traffic management, and patient monitoring. The primary advantage of video analytics is its ability to efficiently process and evaluate vast amounts of video data, which would be impractical and time-consuming for humans to analyze manually. By automating the analysis process, video analytics enhances operational efficiency, improves decision-making, and provides actionable insights that are leveraged for strategic planning and resource optimization. Influential growth factors for the video analytics market include the rise in the amount of video data being generated, the demand for enhanced security and surveillance systems, and the need to derive actionable insights from video content. Despite promising growth prospects, the market faces limitations such as privacy and data protection concerns, high infrastructure costs for sophisticated video analytics systems, and the need for specialized skills to manage and interpret complex data. On the other hand, ongoing advancements in video analytics coupled with integration with IoT and big data analytics and expanding the application of video analytics for personalized marketing strategies present potential opportunities for the video analytics market to grow in the coming years.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.89 billion
Estimated Year [2024]	USD 9.62 billion
Forecast Year [2030]	USD 33.56 billion
CAGR (%)	22.97%

Component: Increasing demand for video analytics softwares due to its advanced functionalities

Services in video analytics encompass several support and maintenance tasks that are crucial for the effective functioning of video analytics solutions. This can include installation, integration, consulting, and managed services. Companies typically prefer services based on the level of expertise their in-house team possesses and the complexity of their video analytics needs. Larger organizations with complex surveillance systems and numerous integration points prefer managed services and consulting to ensure optimal performance and gain strategic insights. Small to medium-sized enterprises might lean towards installation and integration services due to limited internal resources. Video analytics software forms the core of video analytics solutions, offering functionalities such as motion detection, facial recognition, license plate recognition, and behavioral analysis. Depending on the need, organizations choose between on-premise and cloud-based solutions. Organizations with stringent data security requirements can opt for on-premise solutions, while those seeking flexibility and scalability might choose cloud-based software. Innovations in AI and machine learning increase the demand for software with advanced analytics capabilities. Services provide ongoing support and expertise crucial for maintaining complex systems. In contrast, software offers the core functionality and innovative tools necessary for effectively processing and analyzing video data.

Deployment Model: Rising preference for cloud-based video analytics for its subscription-based cost structure

Cloud-based video analytics solutions offer a flexible and scalable approach to video surveillance and analysis. These services are hosted on a cloud infrastructure, allowing remote access, superior data backup, and recovery capabilities. Clients prefer cloud solutions when there is a need for reduced upfront capital expenses, ease of deployment, and accessibility from various locations. An advantage of cloud-based systems is the frequent and automatic software updates that ensure the latest features and security measures are in use without any action required by the user. On-premises video analytics solutions are deployed directly on an organization's hardware and managed by their internal IT team. This model is preferred by entities with strict data governance and privacy requirements, higher concerns for data security, and those who require full control over their systems. Additionally, on-premises solutions are suited for organizations that demand high-performance processing power and speed, which is possible through dedicated hardware. When comparing cloud-based and on-premises video analytics, the decision often rests on cost, scalability, control, and security. Cloud-based models offer the flexibility of a subscription-based cost structure, which can be adjusted according to usage and needs, lower initial investment since there's no need for on-site infrastructure, and seamless scalability for operations that expect to grow. On the other hand, on-premises solutions provide organizations with complete control over their video analytics data and infrastructure, which might be critical for industries handling sensitive data. It offers better performance in terms of processing speed due to local data processing but comes with a higher total cost of ownership due to maintenance, upgrades, and staffing.

Application: Expanding application of video analytics for intrusion management

In safety and security, incident detection is a crucial application for video analytics. This technology identifies anomalies or events that may threaten the safety of individuals or the security of assets. Incident detection systems are tailored to recognize a variety of incidents, such as accidents, fights, or unauthorized access. Incident detection is paramount in areas with high-security needs, such as airports, public transportation hubs, and critical infrastructures. Intrusion management refers to the proactive measures to identify and manage unauthorized entries into a secured area. Video analytics systems designed for this purpose use sophisticated algorithms to detect potential breaches and automatically alert security personnel. Intrusion management is essential for premises that require high levels of security, such as military facilities, banks, and commercial establishments, to prevent theft or vandalism. People or crowd-counting technologies are crucial for businesses and organizations monitoring crowd sizes and flow, such as retail, event management, and urban planning. Video analytics can provide precise data on the number of individuals within a space, enabling better resource management and optimization. This application is ideally suited for venues where understanding customer traffic or managing large groups is necessary for safety and operational efficiency. Traffic monitoring applications of video analytics are indispensable for managing and analyzing vehicular traffic on roads and highways. This technology assists in reducing congestion, optimizing traffic flow, and enhancing road safety through real-time data and event recognition. This is a critical tool for government transportation agencies and city planners to monitor and manage road usage efficiently, especially in urban centers with heavy traffic. Comparatively, each video analytics application serves its unique purpose and caters to different need-based preferences. Incident detection and intrusion management systems are essential for security-conscious areas that require rapid response to threats. People/crowd-counting technologies serve the retail and event industries by providing insights into human traffic patterns. Traffic monitoring, conversely, is a tool for public sector entities looking to address vehicular flow and infrastructure concerns.

Vertical: Growing utilization of video analytics among government & defense sector for real-time surveillance

In the BFSI sector, video analytics is utilized for security purposes, fraud prevention, customer service enhancement, and operations management. The technology helps monitor branches, ATMs, and other facilities to prevent theft, vandalism, and fraud. It also aids in customer interaction analysis to improve service and reduce wait times. In the BFSI sector, video analytics is needed for high-level security, facial recognition for identity verification, and unusual activity detection. Educational institutions use video analytics to ensure the safety of students and staff, optimize campus operations, and enhance the quality of education. It allows for crowd control and monitoring of restricted areas and can integrate with other systems for smarter campus management. The need for video analytics in education is growing for perimeter protection, occupancy counting, and event detection. For government and defense, video analytics is crucial for facility security, border control, and ensuring public safety. The technology assists government agencies in detecting suspicious activities, managing traffic flow, and conducting forensic analysis following incidents. The need for video analysis in this sector is for real-time surveillance, intrusion detection, and automatic license plate recognition (ALPR). The hospitality and entertainment industries leverage video analytics to enhance customer experience, improve safety and security, and streamline operations. Applications include crowd management, behavior analysis to identify areas for service improvement and heat mapping for efficient space usage. In manufacturing, video analytics aids in ensuring workplace safety, quality control, and efficient operation of production lines. The technology can detect equipment malfunctions, monitor assembly lines, and ensure protocol compliance. It is a vital component of smart factory initiatives for production line monitoring, personal protective equipment (PPE) compliance, and defect detection. Transportation and logistics companies use video analytics to enhance the security of transit systems, manage vehicular traffic, and streamline logistics operations. Key applications include cargo tracking, fleet management, and commuter behavior analytics.

Regional Insights

The Americas, particularly the United States and Canada, consistently demonstrate strong growth in the video analytics market with a surge in demand for enhanced public safety and security systems combined with rising investments in smart city projects driving the North American market. Recent patents in the region indicate a focus on intelligent video surveillance with automated detection capabilities. Investment in AI and machine learning continues to fuel the innovative landscape, with major tech companies and startups exploring new video analytics applications. South America's video analytics market is growing steadily, facilitated by the increasing need for enhanced security and surveillance systems in countries such as Brazil and Argentina. Additionally, EU countries are increasingly reflective of a market that prioritizes data protection and privacy in their analytics solutions. The customer needs in this region revolve around secure, transparent systems that provide actionable insights while respecting privacy regulations. Investment in the region is characterized by funding for innovation hubs and research projects that aim to enhance AI-driven video analytics while aligning with EU standards. In the Middle East, the video analytics market exhibits robust growth with significant investments in smart city projects, which include state-of-the-art surveillance systems. In Africa, though the market is at a nascent stage, there's an expected increase in uptake owing to the rising demand for intelligent surveillance for urban planning and crime prevention. The MEA region, however, faces challenges such as the requirement for high initial investment and a scarcity of expertise in video analytics. The Asia Pacific (APAC) region, featuring China, Japan, and India, is a rapidly expanding market for video analytics due to rising urbanization, increasing public surveillance, and considerable investment from both the public and private sectors. In China, the demand for video analytics is driven by government initiatives in public security and infrastructure development. Japan, known for its technological prowess, invests heavily in research and development, focusing on enhancing transportation and public safety systems. In India, there is a burgeoning demand for video surveillance systems, primarily for security reasons and traffic management.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Video Analytics Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Video Analytics Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Video Analytics Market, highlighting leading vendors and their innovative profiles. These include ADT Inc., AllGoVision Technologies Pvt. Ltd., Bosch Sicherheitssysteme GmbH, Canon Inc., Claro Enterprise Solutions, LLC, Deep North, Inc., Eagle Eye Networks, Genetec Inc., Gorilla Technology Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International Inc., Huawei Technology Co., Ltd., i2V Systems Pvt. Ltd., Identiv, Inc., Intel Corporation, Intelligent Security Systems, International Business Machines Corporation, intuVision, Inc., iOmniscient, Ipsotek Ltd. by Atos SE, Miovision Technologies Incorporated, MOBOTIX AG, Motorola Solutions, Inc. by Zebra Technologies Corporation, NEC Corporation, Nice North America LLC, PureTech Systems Inc., Qognify GmbH by Hexagon AB, Securitas Security Services (UK) Limited, Senstar Corporation, Tiger Surveillance Inc., VCA Technology Limited, Verint Systems, Inc., Viseum International Limited, and Zhejiang Dahua Technology Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Video Analytics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Services
- Software

Deployment Model
- Cloud
- On-Premises

Application
- Incident Detection
- Intrusion Management
- People/Crowd Counting
- Traffic Monitoring

Vertical
- Banking, financial services, and insurance (BFSI)
- Education
- Government & Defense
- Hospitality & Entertainment
- Manufacturing
- Transportation & Logistics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Video Analytics Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Video Analytics Market?

3. What are the technology trends and regulatory frameworks in the Video Analytics Market?

4. What is the market share of the leading vendors in the Video Analytics Market?

5. Which modes and strategic moves are suitable for entering the Video Analytics Market?

Product Code: MRR-8201ABF21859

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rise in the amount of video data being generated globally
  - 5.1.1.2. Increasing need for enhanced security and surveillance systems
  - 5.1.1.3. Integration of AI and ML technologies with video analytics
- 5.1.2. Restraints
  - 5.1.2.1. High implementation costs associated with video analytics
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing advancements in video analytics coupled with integration with IoT and big data analytics
  - 5.1.3.2. Expanding the application of video analytics for personalized marketing strategies
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with privacy and security
5.2. Market Segmentation Analysis
- 5.2.1. Component: Increasing demand for video analytics softwares due to its advanced functionalities
- 5.2.2. Deployment Model: Rising preference for cloud-based video analytics for its subscription-based cost structure
- 5.2.3. Application: Expanding application of video analytics for intrusion management
- 5.2.4. Vertical: Growing utilization of video analytics among government & defense sector for real-time surveillance
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Video Analytics Market, by Component

6.1. Introduction
6.2. Services
6.3. Software

7. Video Analytics Market, by Deployment Model

7.1. Introduction
7.2. Cloud
7.3. On-Premises

8. Video Analytics Market, by Application

8.1. Introduction
8.2. Incident Detection
8.3. Intrusion Management
8.4. People/Crowd Counting
8.5. Traffic Monitoring

9. Video Analytics Market, by Vertical

9.1. Introduction
9.2. Banking, financial services, and insurance (BFSI)
9.3. Education
9.4. Government & Defense
9.5. Hospitality & Entertainment
9.6. Manufacturing
9.7. Transportation & Logistics

10. Americas Video Analytics Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Video Analytics Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Video Analytics Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Kinara and Mirasys Announce Strategic Partnership to Revolutionize Video Analytics for Smart Retail
- 13.3.2. Lenskart acquires AI-powered video analytics startup Tango Eye
- 13.3.3. Quantum Announces Partnership with Tiger Surveillance to Address Growing Need for Long-term Retention of Video Surveillance Data
- 13.3.4. Claro Enterprise Solutions Launches AI Video Analytics
- 13.3.5. Dallmeier launches AI video analytics for maritime applications
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio