Video Analytics Market by Component (Software and Services), by Deployment (On-Premise and Cloud), and by Organization Size (Small & Medium Enterprises and Large Enterprises) by Application (Retail, Healthcare, BFSI, Transportation & Logistics, Government, Manufacturing, Mining, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030
Industry: ICT & Media | Publish Date: 24-Nov-2020 | No of Pages: 384 | No. of Tables: 231 | No. of Figures: 201 | Format: PDF | Report Code : N/A
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Market Definition
The global Video Analytics Market size was valued at USD 4.55 billion in 2019, and is projected to reach USD 37.72 billion by 2030, growing at a CAGR of 21.2% from 2020 to 2030. Video analytics is used to process large amount of digital video signals with special algorithm to perform various security-related functions. It is widely used across airports, manufacturing plants, government & public sector institutions and others for processing large amount of data generated through video surveillance. Video analytics is crucial for analyzing threats by recognizing, mitigating, and monitoring intruders.
Market Dynamics and Trends
There are various incidences that can be easily identified though video analytics, for example, if someone is loitering in a specified zone, recognize an abandoned briefcase or duffel bag, among others. Also, through motion detection and facial recognition, video analytics solutions can capture and identify various types of content including identification and counting of vehicle, crowd, traffic, queue, and dwell time in shopping aisles, among others. These advantages significantly help reduce the crime rates by providing timely alerts about suspicious or unusual activities, which has led to a rapid growth in the video analytics market globally.
Moreover, growing concerns over safety & security, and need to obtain actionable insights from vast amount of video data generated from several video sources are the factors that boost the market growth during the forecast period. However, lack of necessary database infrastructure and latent security threats impedes the global industry growth to some extent. On the contrary, expansion of IT based industries and adoption of innovative technologies along with various strategies adopted by market players will create ample opportunities for the market to flourish in the coming years.
Market Segmentations and Scope of the Study
The global video analytics market report is segmented based on component, deployment, organization size, application, and region. By component, the market is classified into software and services. By deployment, the market is categorized into on-premise and cloud. By organization size, the market is bifurcated into large enterprises and small & medium enterprises. By application, the market is divided into retail, healthcare, BFSI, transportation & logistics, government, manufacturing, mining, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis:
North America holds the lion's share in the global video analytics market. This is due to the presence of key players and the strategies adopted by them in order to uplift their businesses. Also, significant investment by the major players as well as by the governments for advancement of smart technologies is contributing to the market growth in this region.
On the other hand, Asia Pacific is anticipated to witness steady growth in the video analytics market due to the presence of emerging economies and expanding population. Video analytics plays a crucial role in ensuring the safety and security of this growing population and provides better crowd management in public gatherings.
Competitive Landscape
The key players operating in the global video analytics industry include 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., and Quognify. There have been various developments taking place in the market and will also take place in the future, which is further expected to augment the market growth.
For instance, in July 2020, Cisco Meraki declared the acquisition of Modcam to rise its capabilities in the field of video analytics. Moreover, in August 2020, AllGoVision launched AllSafe Video Analytics with the aim to increase the safety of people at public areas, office buildings, industries, and all other public & private facilities.
Key Benefits
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This study presents the analytical depiction of the global video analytics market trends and future estimations to determine the imminent investment pockets.
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A detailed analysis of the video analytics market size and segments measures the potential of the market. These segments outline the favorable conditions for the market.
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The report presents information related to key drivers, restraints, and opportunities.
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The current market is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the video analytics industry.
Video Analytics Market Key Segments
By Component Type
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Software
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Services
By Deployment Type
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On-Premise
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Cloud
By Organization Size
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Small & Medium Enterprise
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Large Enterprise
By Application
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Retail
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Queue Management
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Staff Management
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Store and Inventory Management
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Aisle management
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Product Placement Analysis
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Customer Shopping and Buying Behavior Analysis
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Intrusion detection
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Others
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Healthcare
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Patient Monitoring
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Staff Management
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Emergency procedure management
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Remote Monitoring
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Security and Safety Management
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Facility management
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Access Control Management
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Others
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BFSI
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Customer Management
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Security and Safety Management
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Queue Monitoring
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Customer Behavior Analysis
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Staff Management
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Sales and Marketing Management
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Access Control Management
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Intrusion detection
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Others
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Transportation & Logistics
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Traffic management
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Security and Safety Management
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Time management
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Driver and Passenger Behavior Analysis
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Crowd management
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Parking Management
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Vehicle/Number Plate recognition
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Object recognition and tracking
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Intrusion detection
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Speeding Detection
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Others
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Government
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Intrusion Detection
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People/Face detection/recognition and tracking
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Security and Safety Management
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Incident Detection
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Resource Management
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Crowd Management
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Object recognition and tracking
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Others
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Manufacturing
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Intrusion detection
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Security and Safety Management
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Site Management
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Remote Monitoring
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Access Control Management
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Post-incident investigation
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Streamlining Operations
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Inbound/Outbound Management
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Others
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Mining
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Perimeter Security
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Remote monitoring
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Access Control Management
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Object recognition and tracking
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Employee Safety Management
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Process Control Monitoring
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Others
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Others
By Region
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North America
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U.S.
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Canada
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Mexico
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Europe
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UK
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Italy
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Germany
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Spain
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Netherlands
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Taiwan
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Vietnam
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Rest of Asia Pacific
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RoW
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Latin America
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Middle East
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Africa
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Report Scope and Segmentation
|
Parameters |
Details |
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Analysis Period |
2019–2030 |
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Base Year Considered |
2020 |
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Forecast Period |
2020–2030 |
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Market Size Estimation |
Billion (USD) |
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Market Segmentation |
By Component (Software, Service) By Deployment (On-premise, Cloud) By Organization Size (Large enterprise, Small & medium enterprises) By Application (Retail, Healthcare, BFSI, Transportation & Logistics, Government, Manufacturing, Mining, Other Application) |
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Geographical Segmentation |
North America (U.S., Canada, Mexico) Europe (UK, Italy, Germany, Spain, Netherlands, Rest of Europe) Asia-Pacific (China, Japan, India, Australia, South Korea, Taiwan, Vietnam, Rest of Asia Pacific) RoW (Latin America, Middle East, Africa) |
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Companies Profiled |
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., and Quognify. |
Key Market Players:
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AllGoVision Technologies Pvt. Ltd.
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Aventura Technologies, Inc.
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Axis Communications AB
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Cisco Systems, Inc.
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Honeywell International, Inc.
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IBM Corporation
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Intellivision
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PureTech Systems, Inc.
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Verint Systems, Inc.
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Quognify
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Research Landscape
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Quantitative research is particularly effective in measuring the prevalence of trends, assessing market size, and gauging the impact of various factors on consumer behavior. The numerical precision attained through this approach equips our clients with actionable insights, facilitating data-driven decision-making and strategy formulation.
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Forecasting
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