Video Analytics Market

Video Analytics Market Share, Size, Trends, Industry Analysis Report, By Type (Software, Services); By Deployment Model (Cloud, On-premise); By Application (Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition, Motion Detection); By End User (BFSI, Critical Infrastructure, Education, Transportation, Government, Smart Cities, Retail); By Regions, Segment Forecast, 2020- 2026

  • Published Date: Jul 2020
  • Pages: 189
  • Format: PDF
  • Report ID: PM1416
  • Base Year: 2019
  • Historical Data: 2017-2018

Report Summary

The global video analytics market size is expected to value at USD 2,514.9 million in 2019 and is anticipated to grow at a CAGR of 23.9% during the forecast period. Globally, the adoption of video analytics is growing at a rapid rate mainly due to its ability to identify certain real time actions or behavior, providing alerts and insights to users. As the businesses are getting high exposure and measurable returns after implementation of video analytics, its market is also supposed to suffice the growing demands of the users. The evolved video analytics assists companies for developing comprehensive security, intelligence and investigative capabilities by the use of the captured footage. Advanced searches, and face recognition analytics for finding related images and useful information through multiple footages from different cameras. Automation of staff monitoring and improvement in camera return on investment can be speedily done by extraction of information from captured video to discover patterns and get insights.

Factors such as growing demand for industrial automation across retail, banking, financial services, manufacturing, airports, and others, drives the demand for this technology. Additionally, increasing demand for IP-based security systems and infrastructure, and growing concern over safety and security to life as well as assets, are also expected to fuel the market growth during the forecast period. Furthermore, growing concerns of personal integrity and privacy violations have made way for regulations and laws in the video surveillance field. These and many such factors are driving the growth of the market. However, high cost of initial installment and growing number of false alarms in poor lighting or bad weather conditions are expected to hinder the market growth during the forecast period.

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The recent technological developments allow a user to observe the place where security cameras are installed on a smartphone or a similar handheld device by means of installed application specially provided by the solution provider. This gives a user a look of the place under surveillance anytime irrespective of the location. The use of data analytics has come into the picture in the processes of video analytics. The use of data analytical tools is being put to use so as to get predictive analysis for estimation of value and profitability of a customer by monitoring behavior patterns such as last purchases and area of purchase of the customer in a retail establishment. The market related and technological areas of video analytics will rapidly grow in near future.

The hardware component suppliers provide necessary electronic and hardware components such as sensors, processors, SSDs, and cameras, among others. These components are essential for real-time monitoring, detection, and reporting of the activities happening within the surveillance area. For instance, sensors help in detecting intrusions, or any other movements, while SSDs can be utilized for accessing local storage or database and facilitate face, and license plate recognition, among other such applications. Technology providers such as Cisco Systems, Inc., IBM Corporation, Honeywell International, and I2V Systems Private Ltd., among others offer video analytics solutions. They offer software products for cloud based SaaS and on-premise installations. Further, they are capable of offering real -time video analysis, alerts, video search, and business intelligence. Moreover, these vendors are observed integrating their systems with a large variety of third parties systems. Thus, allowing the end-users to choose and implement the best-fit video analytics solutions within their systems.

Video Analytics Market Report Scope

The market is primarily segmented on the basis of type, deployment model, application, end user, and geographic region.

By Type

By Deployment Model

By Application

By End User

By Region 

  • Software
  • Services
  • Cloud
  • On-premise
  • Crowd Management 
  • Facial Recognition
  • Intrusion Detection
  • Motion Detection
  • License plate recognition
  • Others
  • BFSI
  • Critical Infrastructure
  • Education
  • Transportation
  • Government
  • City and Smart Cities
  • Retail
  • Others
  • North America (U.S., Canada, Mexico)
  • Europe (France, Germany, UK, Italy, RoE)
  • Asia Pacific (India, Japan, China, RoAPAC)
  • Latin America (Brazil, RoLATAM)
  • MEA

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Type Outlook

Based on type, the market is segmented into software and services. The software segment is expected to dominate the global market in 2019 however, the services segment is projected to grow at a highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing installation of this solutions, and rising demand for support services to maintain the working of these solutions, which is presumed to propel the demand for related professional and managed services. Large number of companies offer a comprehensive range of detection filters which provides the means to discriminate the object behaviors appropriate to each surveillance scene, meaning that classification is always accurate.

  • In January 2019, Sony launched its Artificial Intelligence (AI) based Edge Analytics solution. This software allows users to create video content in real time, without the need for specialized training, additional staff or equipment.

The growth of services segment can be attributed to the increasing installation of this solution, which is presumed to propel the demand for related professional and managed services. Growing implementation of video analytics services drives the demand for maintenance and support services.

Deployment Model Outlook

On the basis of deployment model, the global video analytics market is segmented into on-premise and cloud based models. The cloud based models is expected to dominate the global market in 2019 and is expected to grow at a highest CAGR during the forecast period. The segment is expected to keep dominating the market, owing to the benefits offered by cloud deployment. Cloud deployment helps the customer to manage their costs efficiently, by adopting subscription model such as pay per subscription. Cloud system provides its customers a convenient and easy way to do the security of their premises with IP cameras. Due to the internet cloud, there is no need of any machines other than IP cameras to run, view and record the videos. Users can view the live view of cameras or any recorded video of past on their PC or mobile from anywhere. The only thing they need to have is an internet connection.

Application Outlook

On the basis of application, the global market is segmented into crowd management, facial recognition, intrusion detection, license plate recognition, motion detection, and others. The crowd management segment is expected to dominate the global market in 2019 however, facial recognition segment is expected to grow at a highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing application of facial recognition solutions across industries for recognizing, identifying or verifying any one. . Facial recognition software is capable of matching images captured from a real-time video with a database, comprising previously stored images. Hence, large number of companies are launching advanced products. For instance,

  • In September 2019, Kairos, a face-recognition AI company with an ethical approach to identity, announced the launch of the Kairos Video Analytics Camera.

Regional Outlook

North America dominated the market due to increasing investments increasing adoption of video surveillance systems, and replacement of conventional surveillance systems for enhanced security and safety purposes. The concentration of key vendors in this region encourages the development and adoption of video analytics to ensure more safety. Huge investment is anticipated in the region, due to the increasing adoption of video surveillance systems, and replacement of conventional surveillance systems for enhanced security and safety purposes. As per the commitments made by the newly elected president of the U.S., the country is presumed to foresee increasing implementation of security systems at public places and critical infrastructures.

However, Asia-Pacific is expected to witness a fastest growth owing to increasing introduction of smart cities projects and establishment of megacities in several parts of the region. . The market is highly unorganized in Asia Pacific region, owing to the presence of a large number of dominating local/regional manufacturers. Governments are showing strong support in promoting advanced technologies such as IoT for improving their infrastructure for public safety. Moreover, the region is seen making significant investments in the video analytics market, owing to the lucrativeness, and economies of scale offered. The rapidly growing demand for high-quality video platforms, and related services in the smart city environment of China offers immense business potential and application for intelligent video analytics.

Competitive Landscape

Companies are expanding their presence across various geographies and entering new markets in developing regions to expand their customer base and strengthen presence in the market. The companies are also introducing new innovative products in the market to cater to the growing consumer demands. The key leading players in the market include International Business Machines Corporation, Cisco Systems Inc., Axis Communications, Genetec Inc., Agent Video Intelligence Ltd, Honeywell International Inc., Aventura Technologies Inc., Qognify, Avigilon Corporation, Puretech Systems Inc., Intuvision, Inc., and Allgovision Technologies Pvt. Ltd. among others.

Key Take-Away
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