Publication Month: Jun 2022 | Report Code: TIPTE100000276 | No. of Pages: 196 | Category: Technology, Media and Telecommunications | Status: Published
Video analytics is a technique that uses a unique algorithm to evaluate a digital signal to perform a security-related function. It provides security to key infrastructures based on a robust method of recognizing and detecting intruders, creating an alarm upon detecting a specific activity. The healthcare sector has begun to appreciate the benefits of video analytics. Foot traffic past a closed drugstore, for example, may be deemed typical in the evening. However, loitering around the drugstore entrance might indicate a break-in is imminent. A fence-climbing alarm is another example of applied video analytics.
The digitalization of CCTV systems is enhancing the effectiveness and capabilities of surveillance imaging systems for security purposes. Such CCTV systems combined with automation and intelligence are deployed as strong and responsive management tools. Some manufacturers are developing a strong gadget for detecting intruders by applying computer processing capabilities to CCTV photos. CCTV systems are also being integrated with other access control and surveillance technologies to establish an efficient multifunctional system for asset security. Video content analysis (VCA) or video analytics (VA) is a relatively new feature of intelligent CCTV, which can be used in various analytical applications, such as dynamic masking, motion estimation, motion detection, and object recognition.
The video analytics market, based on component, is segmented into software and services. The video analytics market, based on deployment, is segmented into on-premise and cloud-based. The video analytics market, by application, is segmented into crowd management, facial recognition, intrusion detection, license plate recognition, motion detection, and others. The video analytics market, based on vertical, is segmented into BFSI, hospitality and entertainment, education, manufacturing, defense and border security, retail, transportation and logistics, and others. In terms of geography, the video analytics market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Russia, and the Rest of Europe), APAC (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the MEA (South Africa and the Rest of the Middle East & Africa), and SAM (Brazil, Argentina, and Rest of South and Central America).
|Market Size Value in||US$ 6,624.9 million in 2022|
|Market Size Value by||US$ 21996.0 million by 2028|
|Growth rate||CAGR of 22.1% from 2022 to 2028.|
|No. of Pages||196|
|No. of Tables||110|
|No. of Charts & Figures||99|
|Historical data available||Yes|
|Segments covered||Component, Deployment, Application, and Vertical|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The COVID-19 pandemic impacted almost every major industry, including education, logistics & supply chain, healthcare, BFSI, retail, and manufacturing. Its spread to practically every corner of the world in the second quarter of 2020 compelled governments to impose restrictions on different commercial and social activities. Several governments begun to use video analytics to monitor the situation and ensure public safety. With this, the demand for video analytics-based face recognition, crowd management, people counting, and intrusion and access control tools increased in the last few years.
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IP-based surveillance systems, high-resolution IP cameras, and network video recorders are increasingly used in video management systems. An increase in IP infrastructure, a rise in demand for remote access are the factors encouraging developments in IP-based security solutions. As a result, companies in the video analytics market are expanding their product portfolios to include IP-based security cameras with integrated video analytics functions. For example, in October 2020, Bosch released "IP 3000i Cameras" with a built-in video analytics system. The integration of IP-based security cameras with video analytics enables remote access, smart data capture, blocked emergency exit or queue notifications, intrusion detection, crowd management, and facial recognition. IP-based security cameras are used in retail spaces for behavior analytics and demographics. Thus, the need for video analytics solutions is growing with the elevating deployment of IP-based security cameras across various sectors.
On the basis of component, the video analytics market is segmented into solution and service. The solution segment accounted for a highest video analytics market share in 2021. With the introduction of increasingly strong in-built chipsets in cameras that enable increased computing capabilities at the edge, edge-based video analytics is evolving. Such systems alert operators to a wide range of real-time video or audio events that require attention and deliver more advanced analytics such as queue management and heat maps, which open up new business and traffic intelligence options.
The video analytics market analysis by deployment, the video analytics market is segmented into on premise and cloud based. The on-premise segment is expected to account for a significant share of the video analytics market during the forecast period. This approach is commonly used in applications that process large amounts of sensitive or confidential data. Internal and external surveillance footage and video feeds of corporate activities are included in these data volumes, including proprietary information and vital insights.
The video analytics market analysis by application, the video analytics market is segmented into crowd management, facial recognition, intrusion detection, license plate recognition, motion detection, and others. Crowd management is anticipated to have the highest video analytics market share during the forecast period. Facial recognition is expected to grow at the highest CAGR. Rising incidences of criminal identification, passport and visa fraud detection, and attendance tracking and management, are aiding the video analytics market growth during the forecast period.
On the basis of vertical, the market is segmented into BFSI, hospitality and entertainment, education, manufacturing, defense and border security, retail, transportation and logistics, and others. During the forecast period, transportation and logistics are expected to grow at the fastest CAGR during the forecast period. In the transportation and logistics industry, video monitoring has grown more vital. The removal of congestion, behavior analysis, increased safety measures, incident recording, and detection of blind spots are just a few of the benefits of video analytics for the logistics sector.
Players operating in the well completion video analytics market are mainly focused on the development of advanced and efficient products.