The global video analytics market is expected to grow at a CAGR of 24.7% during the forecast period. Video analytics is the capability of analyzing video automatically to detect and determine temporal and spatial events. The rising demand for improved security arrangements will boost the growth prospects for the video analytics industry during the forecast period. It has been observed that the frequency and intensity of security breaches as well as the incidences of shoplifting, robbery, and theft are increasing at an alarming rate. This results in stringent regulations to control anti-social activities by the government across the globe, which in turn, fuels the rate of adoption of video analytics solutions in the market.
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Likewise, the video analytics market is witnessing a high demand for the installation of video surveillance cameras in public places such as airports, railway stations, hotels, hypermarkets, hospitals, and shopping malls across the globe. Additionally, video analytics-enabled cameras have the capability to automatically report suspicious events and provide real-time alerts and forensic tools for staffed and unstaffed camera video surveillance options.
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The major players that contribute to the growth of the market include IBM Corp., Cisco Systems Inc. Agent Video Intelligence Ltd., Aventura Technologies Inc., Avigilon Corp., Axis Communications AB, Bosch Security Systems, Canon, Cisco Systems, Inc., Honeywell International Inc., Milestone Systems A/S, NICE Systems, and others. These market players are contributing to the market by adopting various market approaches including product launch and approvals, merger and acquisition, partnerships and collaborations, and others for gaining a strong position in the market.
Global Video Analytics Market- Segmentation
By Deployment
- Cloud-Based
- On-Premises
By Application
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Retail
- Government & Defense
- Traffic Management
- Others
Global Video Analytics Market- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
