The Worldwide Video Analytics Industry is Expected to Reach $14.9 Billion by 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Video Analytics Market with COVID-19 Impact, by Component, Application (Intrusion Management, Incident Detection, People/Crowd Counting, Traffic Monitoring), Deployment Model (On-premises and Cloud), Type, Vertical, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global video analytics market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 20.4% during the forecast period, to reach USD 14.9 billion by 2026 from USD 5.9 billion in 2021.

The COVID-19 impact on the global video analytics market

The recent economic slowdown with the impact of COVID-19 emphasizes the need for alternate business systems. It has become important for businesses to embrace cloud computing and migrate to cloud video analytics solutions. This will help organizations to have a stable business condition in the short term while targeting continued growth and expansion in the long run. The recent COVID-19 crisis has shifted the focus on safety and security of human lives. Also, the emergence of intuitive technologies mainly the Ai-based surveillance systems based on deep learning and computer vision technologies. The organizations are utilizing video analytics solutions across end user industries due to variety of benefits including dynamically attain situational awareness, proactively drive real time alerting, and scheduling BI dashboard.

Edge-based segment to grow at a higher CAGR during the forecast period

Based on the type, the market is segmented into two categories edge based and server based video analytics. Edge-based segment is expected to grow at a higher CAGR during the forecast period. Edge-based video analytics evolves with the emergence of new powerful in-build chipsets in cameras that offer higher computational capabilities at the edge. Such systems inform operators on a wide range of real-time video or audio events requiring attention and providing more sophisticated analytics, such as queue management and heat maps that offer new opportunities for business and traffic intelligence.

On-premises segment to account for a higher market share during the forecast period.

The video analytics market is segmented by deployment type into on-premises and cloud segment. The on-premises segment account for a higher share of the video analytics market during the forecast period. This approach is mostly adopted for applications that involve the processing of sensitive and confidential data volumes. These data volumes include internal and external surveillance footage and video feeds of business operations that contain confidential information and crucial insights.

Transportation and logistics vertical to grow at a higher CAGR during the forecast period.

Transport and logistics is one of the fastest-growing verticals during the forecast period. Video surveillance has become an important part of the transportation and logistics vertical. The various benefits of video analytics for the transportation and logistics vertical are the elimination of overcrowding, behavior analysis, enhanced safety measures, incident recording, and detection of blind spots. Video analytics can contribute to the enhancement and betterment of this vertical for commuters while providing improved safety benefits.

North America to account for the highest market share during the forecast period.

The video analytics market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The video analytics report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the highest market share in the overall video analytics market during the forecast period. Following North America tops the world in terms of the presence of security vendors and the occurrence of security breaches.

Market Dynamics

Drivers

• Increasing Investments and Focus of Governing Institutions on Public Safety
• Need to Utilize and Examine Unstructured Video Surveillance Data in Real-Time
• Significant Drop in Crime Rate Due to Surveillance Cameras
• Growing Need Among Enterprises to Leverage Bi and Actionable Insights for Advanced Operations
• Limitations of Manual Video Analysis
• Government Initiatives in Adopting Emerging Technologies to Enhance the Public Safety Infrastructure
• Reduced Cost of Video Surveillance Equipment and Long-Term Roi
• Demand for Enhanced Video Surveillance

Restraints

• Increasing Cyberattacks and Data Theft Activities
• Government Regulations Related to Cctv Surveillance
• Investments in Existing Legacy Surveillance Systems to Prevent the Implantation of New Advanced Solutions
• Privacy Concerns Among Citizens

Opportunities

• Use of Drone-Based Video Analytics
• Emergence of Edge Technologies and Devices to Amplify the Use of Video Analytics
• Predictive Information Using Video Analytics
• Integration of Ai and Cloud Technologies with Video Analytics
• Surging Demand for Video Analytics Solutions in Non-Government Sectors
• Growing Use of Facial Recognition Across Applications

Challenges

• High Initial Costs of Investment, Installation, and Maintenance
• Interoperability Complexities and Support for Older Equipment of Surveillance Systems
• Extreme Functional Conditions
• Problems in Isolated and Remote Locations
• False Alarms and Lack of Reliability

Companies Mentioned

• Actuate
• Agent VI
• Allgovision
• Arcules
• Athena Security
• Aventura Systems
• Avigilon
• Axis Communications
• Bosch Security
• Briefcam
• Calipsa
• Cawamo
• Cisco
• Corsight AI
• Cronj
• Dahua
• Deepnorth
• Delopt
• Digital Barriers
• Drishti Technologies
• Durac
• Genetec
• Gorilla Technology
• Hikvision
• Honeywell
• Huawei
• I2V
• Identiv
• Intelligent Security Systems
• Intellivision
• Intuvision
• Iomniscient
• Ipsotek
• Kogniz
• Microtraffic
• Natix
• NEC
• Puretech Systems
• Qognify
• Senstar
• Verint
• Viseum

For more information about this report visit https://www.researchandmarkets.com/r/9luug0