In a recent published report, Kenneth Research has updated the market report for Global Video Analytics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Video Analytics Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Video surveillance plays an important role in safety related applications. Video analytics is defined as the capability of analysing video to detect and determine temporal and spatial events. It came into existence to review the growing footage of surveillance cameras and make them more efficient. Integrating video analytics with the security system can reduce the workload on the security staff of the organization along with capturing the entire value of the camera system making it more intelligent. The applications of video analytics involve facial recognition, motion detection, license plate reading, people counting at retail stores, recognizing long lines and sending out alerts.
The Video Analytics solution offers various advantages such as enhanced security, lower costs, and increased efficiency. Factors like enhanced decision-making capabilities of users and rising demand for improved security arrangements are driving market growth. Moreover, video analytics permit customers to use the processing power of collected data. With the growing significance of business intelligence, the demand for video analytics is expected to increase.
The incidents of security breaches, as well as the frequency of terrorist attacks, have been increasing prompting governments across the globe to invest in security and surveillance systems. This has sparked the adoption of advanced video surveillance and analytics. The organizations are also embracing Software as a Service (SaaS) video analytics which can fuel the growth of this market.
The Global Video Analytics Market can be segmented on the basis of type, deployment, application, and services.
Automatic Number Plate Recognition System
Critical Infrastructure Protection
Hospitality and Entertainment
Banking, Financial Services and Insurance
Geographically, the market is segmented into North America, Asia Pacific, Europe and South America. North America is the largest market for video analytics because of the presence of already established infrastructure. The enhancement of digital technologies in emerging markets like China and India have made the Asia Pacific region the second-fastest-growing market. These countries are investing in these security systems to ensure the safety of their citizens.
Some of the key companies in the Global Video Analytics Market are Axis Communications, Bosch Security Systems, Cisco Systems, Honeywell International Inc, IBM Corporation, Agent Video Intelligent, AllGoVision Technologies Pvt. Ltd, Avigilon Corporation, Aventura Technologies Inc, Genetec Inc, I2V System Private Ltd, Intellivision Technologies, IntuVision, PureTech Systems Inc, and Qognify.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and the Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
The Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of the Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market Dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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