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Video Analytics Market to Surge at 21.3% CAGR till 2027; Increasing Adoption of Video Intelligence Solutions by Public Offices to Accelerate Market Growth

December 22, 2020 | Information & Technology

The global video analytics market size is projected to reach USD 13,001.7 million by 2027 owing to the rising deployment of crowd management video analytics by law enforcement agencies, finds Fortune Business Insights™ in its report, titled “Video Analytics Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions, Services), By Application (Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition, Motion Detection, and Others), By End-user (BFSI, City Surveillance, Critical Infrastructure, Education, Government, Retail, Transportation, and Others), and Regional Forecast, 2020-2027”. According to the report, the value of the market stood at USD 2,896.0 million in 2019 and the market is expected to display a staggering CAGR of 21.3% from 2020 to 2027.


The COVID-19 pandemic has had a positive impact on the video analytics market growth as governments worldwide are actively utilizing video intelligence to screen and identify people as well as detect elevated temperatures in crowds. This has provided an impetus for companies to develop innovative solutions to aid the fight against the virus as well as facilitate the smooth reopening of organizations in the post-lockdown period.


BriefCam Leverages Edge Analytics with the AXIS Deep Learning Camera


A top player in the video analytics domain, US-based BriefCam announced in July 2020 that its flagship Video Content Analytics will soon be available on the deep learning-enabled cameras of Axis Communications. Aligned with its product range of on-premise and cloud solutions, BriefCam’s edge analytics is geared towards allowing a wider freedom of choice and flexible deployment architectures via edge computing systems. With this integration, BriefCam has emerged as the one of the first companies to harness the Axis Camera Application Platform under the Axis Application Development Partner Program.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/video-analytics-market-101114


Wide Applicability of Video Analytics in the Banking Industry to Brighten Market Horizons


Banks are under constant threat of being subjected to various kinds of attacks, both virtual and physical. Video analytics technologies can play a critical role in reducing the risk of such attacks by providing a wide range of security options for banks. For example, banks can deploy AI-powered video surveillance systems across individual branches, ATM terminals, and critical infrastructures to quickly identify humans and objects, classify them, and detect any suspicious activity through automated solutions. Bank management can then collect a host of data from different branches and sources to decipher behavioral patterns of customers and deliver better outcomes, optimize security protocols, and ensure safety of employees. Video intelligence can prove to be particularly beneficial in detecting fraudulent activities even among bank employees. Thus, video content analytics can help banks save large sums of money by not just detecting frauds but also by enhancing efficiency and productivity of employees.


Increasing Investments by Key Players in Developing Advanced Solutions to Animate Competition


The competitive landscape of this market is getting energized by the increasing intensity of focus by key players towards developing and launching advanced video intelligence solutions for diverse end-users. Key players are supporting this strategy by making calculated investments in research along with engaging in partnerships with companies specializing in niche technologies. The current coronavirus pandemic has further stoked the innovation capacities of market participants, which is enabling them to strengthen their market position and expand their business prospects.


Industry Development:



  • March 2020: Motorola Solutions expanded its Avigilon Control Center 7.6, its much-acclaimed video security and analytics platform, with new upgrades. These upgrades will now allow Motorola’s enterprise customers to more efficiently manage their facilities by utilizing AI-driven facial analytics and recognition.


List of Key Players Covered in the Video Analytics Market Report:



  • Kiwisecurity (Vienna, Austria)

  • Axis Communications AB (Lund, Sweden)

  • Robert Bosch GmbH (Stuttgart, Germany)

  • Honeywell International Inc.  (Charlotte, United States)

  • Motorola Solutions, Inc. (Avigilon Corporation) (Illinois, United States)

  • ULTINOUS Zrt. (Budapest, Hungary)

  • Viseum International (Potters Bar, England)

  • AllGoVision (Karnataka, India)

  • Huawei Technologies Co., Ltd.  (Shenzhen, China)

  • Agent VI (New York, United States)

  • Gorilla Technology Group (Taipei, Taiwan)

  • Cisco Systems, Inc. (California, United States)

  • IBM Corporation (New York, United States)


Further Report Findings:



  • The crowd management segment held a commanding 24.9% share in the market in 2019 and is expected to continue its dominance during the forecast period as governments worldwide are actively deploying video intelligence software in large crowd settings to detect suspicious activities.

  • North America is slated to lead the video analytics market share in the foreseeable future owing to the robust presence and operations of tech giants such as Microsoft, IBM, and Google in the US and Canada. The region’s market size in 2019 stood at USD 971.8 million.


Table of Segmentation


















































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD million)



Segmentation



  Component; Application; End-user; and Geography



By Component




  • Solutions

  • Services

    • Consulting

    • Training and Education

    • Support and Maintenance




    • Professional

    • Managed




By Application




  • Crowd Management

  • Facial Recognition

  • Intrusion Detection

  • License Plate Recognition

  • Motion Detection

  • Others



By End-user




  • BFSI

  • City Surveillance

  • Critical Infrastructure

  • Education

  • Government

  • Retail

  • Transportation

  • Others



By Geography




  • North America (By Component; Application; End-user; and Country)


    • The United States

    • Canada




  • Europe (By Component; Application; End-user; and Country)


    • The United Kingdom

    • Germany

    • France

    • Rest of Europe




  • Asia Pacific (By Component; Application; End-user; and Country)


    • China

    • Japan

    • India

    • Southeast Asia

    • Rest of Asia Pacific




  • The Middle East & Africa (By Component; Application; End-user; and Country)


    • GCC

    • South Africa

    • Rest of the Middle East & Africa




  • Latin America (By Component; Application; End-user; and Country)


    • Brazil

    • Mexico

    • Rest of South America



Video Analytics Market
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  • 2016-2018
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