Video Analytics Market Size Worth $43.77 Billion By 2032 | CAGR: 22.6%

The global video analytics market size is expected to reach USD 43.77 billion by 2032, according to a new study by Polaris Market Research. The report “Video Analytics Market Share, Size, Trends, Industry Analysis Report, By Type (Software and Services); By Deployment Model; By Application; By End-User; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future

The growth of the market is the rising demand for intelligent security surveillance systems, which can provide insights on critical trends and patterns. Furthermore, the growing apprehension for public safety and the application of video analytics in criminal investigations are also contributing factors that are fueling the demand for video analytics solutions.

Video analytics solutions are not limited to surveillance applications, as they are also being widely used in the retail sector to estimate average foot traffic, gender distribution, assess display effectiveness, and measure the attractiveness of shelf space. Superstores and mega marts are increasingly implementing these systems to gain a better understanding of consumer behavior.

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Video analytics employs advanced algorithms that can analyze captured videos frame by frame, regardless of lighting conditions, making it a dependable and effective tool for ensuring security. Moreover, the transportation, retail, and healthcare industries are experiencing a considerable surge in the adoption of video analytics due to the growing use of intrusion detection, license plate recognition, crowd management, and congestion detection in these sectors.

Video Analytics Market Report Highlights

• The software segment is projected to dominate the market because more people are using these solutions, there is a rising need for support services to guarantee their proper operation, which is anticipated to raise demand for managed and expert services, contributing to the growth of the analytics industry.
• The cloud-based model is expected to dominate the market and maintain its dominance during the forecast period with the highest compound annual growth rate.
• The crowd management analytics segment is expected to dominate the market during the forecast period.
• North America is expected to dominate the market due to increasing investments, rising adoption of video surveillance systems for enhanced security and safety purposes.
• The global key market players 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

Polaris Market Research has segmented the Video Analytics market report based on type, deployment model, application, end-user and region:

Video Analytics, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Software
• Services

Video Analytics, Deployment Model Outlook (Revenue - USD Billion, 2019 - 2032)

• Cloud
• On-premise

Video Analytics, Application (Revenue - USD Billion, 2019 - 2032)

• Crowd Management 
• Facial Recognition
• Intrusion Detection
• Motion Detection
• License plate recognition
• Others

Video Analytics, End-User (Revenue - USD Billion, 2019 - 2032)

• BFSI
• City Surveillance
• Critical Infrastructure
• Education
• Hospitality & Entertainment
• Manufacturing
• Defense & Border Security
• Retail
• Traffic Management
• Transportation & Logistics
• Others

Video Analytics, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa