The global video analytics market size is expected to reach USD 8.40 billion by 2028 according to a new study by Polaris Market Research. The report “Video Analytics Market Share, Size, Trends, Industry Analysis Report, By Type (Software, Services); By Deployment Model; By Application; By End-Use; By Regions, Segment Forecast, 2021 – 2028” gives a detailed insight into the current market dynamics and provides analysis on future market growth.
Globally, the industry is largely being used in several cities, in retail, automation, and other industrial and manufacturing sectors. As there is a growing demand for industrial automation across various industrial sectors, the demand for this technology is rapidly increasing in retail, banking, financial services, manufacturing, airports, and other sectors.
Though many factors are driving the industry’s growth, several issues have a negative impact on the industry. Factors such as the impact of poor lighting or bad weather conditions, high investment for installation, and privacy concerns are expected to hinder the industry growth during the forecast period.
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North America dominates the global industry as people here are largely investing in surveillance systems to replace the conventional surveillance systems to enhance safety and security. Furthermore, the increasing presence of dominating players in the North American region, such as Cisco Systems and IBM Corporation, coupled with growing investments by public and private organizations, also fuel the growth of the industry in this region.
The key players in the industry include Cisco Systems Inc., International Business Machines Corporation, Axis Communications, Intuvision, Inc., Genetec Inc., Puretech Systems Inc., Honeywell International Inc., Qognify, Aventura Technologies Inc., Avigilon Corporation, and Allgovision Technologies Pvt. Ltd, among others.
Polaris Market Research has segmented the video analytics market report on the basis of type, deployment model, application, end-use, and region:
Video Analytics, Type Outlook (Revenue – USD Million, 2016 – 2028)
Video Analytics, Deployment Model Outlook (Revenue – USD Million, 2016 – 2028)
Video Analytics, Application Outlook (Revenue – USD Million, 2016 – 2028)
- Crowd Management
- Facial Recognition
- Intrusion Detection
- Motion Detection
- License Plate Recognition
Video Analytics, End-Use Outlook (Revenue – USD Million, 2016 – 2028)
- City Surveillance
- Critical Infrastructure
- Hospitality & Entertainment
- Defense & Border Security
- Traffic Management
- Transportation & Logistics
Video Analytics, Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa