Video Analytics Market Size, Share, Growth and Forecast

Video Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Service), Deployment (On Premise and Cloud based), Application (Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition, Motion Detection, and Others), and Vertical (BFSI, Education, Hospitality and Entertainment, Manufacturing, Defense and Border Security, Retail, Transportation and Logistics, and Others)

  • Report Code : TIPTE100000276
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 196
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The video analytics market size was valued at US$ 6,624.9 million in 2022 and is projected to reach US$ 21996.0 million by 2028; The video analytics market size is expected to grow at a CAGR of 22.1% from 2022 to 2028.

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).


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Video Analytics Market: Strategic Insights

Video Analytics Market

  • CAGR (2022 - 2028)
    22.1%
  • Market Size 2022
    US$ 6.62 Billion
  • Market Size 2028
    US$ 22 Billion

Market Dynamics

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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Avigilon Corporation
  • AXIS COMMUNICATIONS
  • Agent Video Intelligence Ltd.
  • Honeywell International Inc
  • AllGoVision Technologies Pvt. Ltd
  • Hangzhou Hikvision Digital Technology Co., Ltd.
  • Dahua Technology Co., Ltd.
  • Huawei Technologies Co., Ltd.
  • NEC Corporation

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Component
  • Solution and Service
Deployment
  • On Premise and Cloud based
Application
  • Crowd Management
  • Facial Recognition
  • Intrusion Detection
  • License Plate Recognition
  • Motion Detection
  • Others
Vertical
  • BFSI
  • Education
  • Hospitality and Entertainment
  • Manufacturing
  • Defense and Border Security
  • Retail
  • Transportation and Logistics
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Impact of COVID-19 Pandemic on Video Analytics Market

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.

Lucrative Regions in Video Analytics Market

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Market Insights– Video Analytics Market

Growing Adoption of IP-Based Security Systems is Public Safety Applications

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.

Component-Based Insights

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.

Deployment-Based Insights

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.

Application -Based 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.

Vertical -Based Insights

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.

  • In 2022, Huawei Technologies (Thailand) Co., Ltd. was chosen for the Special Prime Minister Award and recognized as “Digital International Corporation of the Year”. The award acknowledges Huawei Thailand for its valuable support and outstanding contributions to Thai society since its establishment in the country.
  • In April 2021, INSEC Security announced a new partnership agreement with BriefCam. Together, the two companies will support the integration of the BriefCam Video Content Analytics Platform for regional projects and will operate a training certification program to foster local video analysis expertise.

Video Analytics Market – by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • South Korea
    • Thailand
    • Rest of APAC
  • Middle East and Africa
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Rest of SAM

Video Analytics Market – Company Profiles

  • Avigilon Corporation
  • AXIS COMMUNICATIONS
  • Agent Video Intelligence Ltd.
  • Honeywell International Inc.
  • AllGoVision Technologies Pvt. Ltd
  • Hangzhou Hikvision Digital Technology Co., Ltd.
  • Dahua Technology Co., Ltd.
  • Huawei Technologies Co., Ltd.
  • NEC Corporation
  • BriefCam

Video Analytics Market Report Scope

Report Attribute Details
Market size in 2022 US$ 6.62 Billion
Market Size by 2028 US$ 22 Billion
Global CAGR (2022 - 2028) 22.1%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Component
  • Solution and Service
By Deployment
  • On Premise and Cloud based
By Application
  • Crowd Management
  • Facial Recognition
  • Intrusion Detection
  • License Plate Recognition
  • Motion Detection
  • Others
By Vertical
  • BFSI
  • Education
  • Hospitality and Entertainment
  • Manufacturing
  • Defense and Border Security
  • Retail
  • Transportation and Logistics
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Avigilon Corporation
  • AXIS COMMUNICATIONS
  • Agent Video Intelligence Ltd.
  • Honeywell International Inc
  • AllGoVision Technologies Pvt. Ltd
  • Hangzhou Hikvision Digital Technology Co., Ltd.
  • Dahua Technology Co., Ltd.
  • Huawei Technologies Co., Ltd.
  • NEC Corporation
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Component, Deployment, Application, and Vertical

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What is the estimated global market size for the video analytics market in 2021?

    The global video analytics market was valued at US$ 5519.2 Mn in 2021.

    What are the driving factors impacting the global video analytics market?

    The driving factors impacting the Video analytics market are growing adoption of IP-based security systems and development of advanced systems for precision monitoring among others.

    What is the future trend of the video analytics market?

    One of the key future trend impacting the video analytics market is integration of real time technologies.

    Which are the key players holding the major market share of video analytics market?

    The key players holding the major market share of video analytics are Dahua Technology Co. LTD, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International Inc, Huawei Technology, and NEC Corporation.

    Which is the fastest growing regional market?

    APAC is the fastest-growing regional market in the global Video Analytics market.

    Which countries are registering a high growth rate during the forecast period?

    US, UK, India, South Africa, and Brazil are the countries are registering a high growth rate during the forecast period.

    What will be the global market size for the video analytics market by 2028?

    The global video analytics market size is projected to reach US$ 21996.0 Mn by 2028.

    The List of Companies - Video Analytics Market

    1. Avigilon Corporation
    2. AXIS COMMUNICATIONS
    3. Agent Video Intelligence Ltd.
    4. Honeywell International Inc
    5. AllGoVision Technologies Pvt. Ltd
    6. Hangzhou Hikvision Digital Technology Co., Ltd.
    7. Dahua Technology Co., Ltd.
    8. Huawei Technologies Co., Ltd.
    9. NEC Corporation
    10. BriefCam

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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