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Video Analytics Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The video analytics market has shown exponential growth, increasing from $6.88 billion in 2023 to $8.25 billion in 2024, reflecting a CAGR of 20.0%. Growth drivers include heightened security concerns, demand for retail optimization, traffic management solutions, public safety needs, and operational efficiency improvements across industries.
What Is the Projected Market Size of the Global Video Analytics Market and Its Growth Rate?
The market is positioned for exponential growth, predicted to reach $17.14 billion by 2028 with a CAGR of 20.0%. This expansion is driven by increasing adoption in smart cities, improvements in retail customer experiences, and the need for compliance with health and safety protocols. Major trends include the integration of emotion and sentiment analysis, connection with IoT sensors, automated license plate recognition (ALPR) technologies, real-time crowd monitoring solutions, and customizable, open-architecture platforms.
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What Is The Primary Growth Driver Of The Video Analytics Market?
A decline in crime rates due to the use of surveillance cameras is contributing to the expansion of the market. Surveillance systems generate massive amounts of video data, and video analytics software plays a critical role in extracting actionable insights from these recordings. By automating tracking and analysis, video analytics minimizes human error and enhances security, making it a valuable tool for crime prevention.
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Who Are the Key Players Driving Growth in the Video Analytics Market?
Major companies operating in the market report are Huawei Technologies Co Ltd., Intell Vision Technologies Corp, IBM Corporation, Cisco Inc., Honeywell Inc., Hangzhou Hikvision Digital Technology Co Ltd., Motorola Solutions Inc., Dahua Technology Co Ltd., Axis Communications AB, Avigilon Corporation, Verint Systems Inc., Calipsa Ltd., Genetec Inc., Vivotek Inc., Bosch Security and Safety Systems I Global, Synectics plc, Qognify Inc., BriefCam Ltd., Gorilla Technology Group Inc., PureTech Systems Inc., Aventura Technologies Inc., Kairos Technologies Inc., Camio Inc., KiwiSecurity Services Ltd., Sighthound Inc., Citilog Inc., Agent Video Intelligence Inc., Solink Corporation, AllGoVision Technologies Pvt Ltd., Viseum Limited
What Emerging Trends Are Influencing the Video Analytics Market Size?
Companies in the video analytics market are leveraging strategic partnerships to enhance profitability. Collaborations between organizations such as Claro Enterprise Solutions and Iveda Solutions are transforming surveillance systems by integrating AI-powered video analytics capabilities.
What Are the Segments of the Global Video Analytics Market?
1) By Component: Software, Services
2) By Organization Size: Small And Medium Enterprises, Large enterprise
3) By Deployment Model: On-Premise, Cloud
4) By End User: BFSI, Retail, Critical Infrastructure, Transportation And Logistics, Hospitality And Entertainment, Defense And Security, Other End-users
Geographic Overview: North America at the Helm of the Video Analytics Market
North America was the largest region in the video analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Understanding the Definition of the Video Analytics Market
Video analytics technology processes digital video feeds using advanced algorithms, enabling the monitoring of critical infrastructures. This technology plays a vital role in identifying and tracking individuals or objects, generating alerts on specific behaviors, and enhancing security measures.
The Video Analytics Global Market Report 2024 from The Business Research Company includes the following key information:
.Market size data for both historical and future periods
.Analysis of both macro and microeconomic factors that have impacted the market over the past five years
.Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
.Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Video Analytics Market Report: Trends, Opportunities, Strategies, and More
The Video Analytics Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into video analytics market size, video analytics market drivers and trends, video analytics market major players, video analytics competitors' revenues, video analytics market positioning, and growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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