Press Release

Global Video Analytics Market to Grow at a CAGR of 23.3% in the Forecast Period of 2024-2030

The Global Video Analytics Market is likely to grow at a CAGR of 24.3% in the forecast period of 2024-30, says MarkNtel Advisors in their research report. The primary factor contributing to the market growth is the government's rising focus on public safety and its various initiatives toward adopting emerging technologies to enhance the security provided to the public. In addition to this, the installation of video analytics help minimizes the crime rate through situational alerts regarding unusual activities. Hence, these aspects shall increase the demand for video analytics, thereby propelling the market growth. 

On-Premises Dominated the Global Video Analytics Market with Largest Market Share

Based on the Deployment, the market divides into On-Premises and Cloud. The On-Premises segment acquired the largest share in the Global Video Analytics Market in the previous few years. Under On-premise deployment, business operations are carried out on the company’s premises using a dedicated server. In such a case, the software belongs to the company.  

The demand for an On-premise deployment model is significantly high across industries, such as banking, education, financial services & insurance (BFSI), and healthcare, which are more susceptible to cyber-attacks, security threats, and data breaching due to crucial information.

Facial Recognition to Witness Significant Growth Rate During the Forecast Period

Based on Application, the market bifurcates into Incident Detection, Intrusion Management, People/Crowd Counting, Traffic Monitoring, ANPR, Facial Recognition, and Others. Of them all, Facial Recognition is more likely to observe a significant growth rate during the forecast period. It owes to its wide-range benefits, including criminal identification, fraud detection in visas & passports, and attendance tracking. Additionally, it allows concerned authorities to recognize an individual faster & more accurately than the human eye. Hence, these factors shall lead the segment to display a significant growth rate, reveals MarkNtel Advisors in their research report, “Global Video Analytics Market Analysis, 2024.”

Key Market Competitors:

According to MarkNtel Advisors, the leading players in the Global Video Analytics Market are Avigilon, Cisco, Axis Communications, Agent VI, AllGoVision, Aventura Systems, Genetec, i2V, IntelliVision, intuVision, PureTech Systems, Qognify, Honeywell, IBM, iOmniscient, BriefCam, Digital Barriers, IPSOTEK, Gorilla Technology, Bosch Security.

Critical Questions Answered in the Study

1. What are the current and future trends in the Global Video Analytics market? 
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the globe, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Video Analytics market?
5. What are the customer orientation, purchase behavior, and expectations from the Global Video Analytics market service providers?

Market Segmentation:

1. By Component (Service, Software)
2. By Deployment (On-Premises, Cloud)
3. By Application (Incident Detection, Intrusion Management, People/Crowd Counting, Traffic Monitoring, ANPR, Facial Recognition, Others [AR and Ego-Motion Estimation])
4. By Type (Edged-Based, Server-Based)
5. By Vertical (Banking, Financial Services, and Insurance (BFSI), City Surveillance, Critical Infrastructure, Education, Hospitality and Entertainment, Manufacturing, Defense and Border Security, Retail, Traffic Management, Transportation and Logistics, Others [Healthcare and Life Sciences, and Construction])
6. By Geographic Region (North America, South America, Europe, Middle East & Africa, Asia Pacific)