USD 4.46 billion
Video Analytics Market Size, Share, Growth Analysis, By Offering(Software, and Services), By Deployment(On-premise, Cloud), By Application(Incident Detection, People/Crowd Counting, Facial Recognition, Intrusion Management), By End-User(IT & telecom, Banking, Financial Services, & Insurance (BFSI)), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45I2204 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|Tables:
125
|Figures:
77
Video Analytics Market Insights
Video Analytics Market size was valued at USD 8.9 Billion in 2023 and is poised to grow from USD 10.88 Billion in 2024 to USD 54.67 Billion by 2032, growing at a CAGR of 22.3% during the forecast period (2025-2032).
Growing emphasis on security enhancements and rising penetration of technologies in the security space are estimated to create new opportunities for video analytics companies. Advancements in analytics technologies, launch of smart cities initiatives, and demand for better video surveillance are also expected to bolster video analytics market growth in the future. Efforts to improve public safety and growing integration of artificial intelligence with video analytics solutions are also expected to favor market development going forward. Rising military and defense spending will also create high demand for video analytics in the long run. Use of behavioral analysis will also generate new opportunities for video analytics providers over the coming years. On the contrary, complexity in integration, data management and storage issues, and privacy concerns are estimated to hamper video analytics adoption across the forecast period and beyond.
Market snapshot - 2024–2031
Global Market Size
Largest Segment
Software
Fastest Growth
Software
Growth Rate
23.1% CAGR
Global Video Analytics Market ($ Bn)
Country Share by North America (%)
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Video Analytics Market Segmental Analysis
Global Video Analytics Market is segmented based on the Offering, Deployment, and region. Based on the Offering, the market is segmented into Software (Video Content Analysis and AI driven Video Analytics) and Services (Professional Services [Consulting, Integration & Implementation and Support & Maintenance] And Managed Services). Based on the Deployment, the market is segmented as On-premises And Cloud. Based on the Application, the market is segmented into Incident Detection, People/Crowd Counting, Facial Recognition, Intrusion Management, Traffic Monitoring, Automatic Number Plate Recognition, and Others. Based on the Industry, the market is segmented into BFSI, Government & Defense, Critical Infrastructure, Education, Hospitality and Entertainment, Manufacturing, Retail, Transportation & Logistics, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Video Analytics Market Analysis by Deployment
Currently, on-premises deployment is projected to account for a major chunk of the global video analytics market share. Better security and high flexibility and control are key benefits of on-premises video analytics that help the dominance of this segment. Large enterprises are projected to be the prime adopters of on-premises video analytics solutions. However, high costs and the requirement of substantial capital and human resources for proper management of on-premises video analytics solutions will also impede growth via this segment. The segment is projected to lose a notable market share to cloud deployment in the long run as its popularity and acceptance increases on a global level.
Meanwhile, the demand for cloud video analytics solutions is forecasted to increase at a rapid pace across the study period. Low costs, easy deployment, high scalability and flexibility are the key benefits that help this segment emerge as the most opportune one in the global market. Advancements in cloud technologies are also expected to play a crucial role in boosting market growth via this segment in the long run.
Video Analytics Market Analysis by Industry
Government and defense industries are projected to spearhead the demand for video analytics on a global level. Increasing emphasis on improving security of citizens has led to high adoption of video analytics solutions in various government organizations. High defense spending and the use of advanced analytics programs to improve video surveillance capabilities are also expected to help this segment maintain its high market share. Growing defense expenditure and adoption of advanced analytics to make data-driven decisions will also create new opportunities for video analytics companies in the future.
Meanwhile, the demand for video analytics is slated to increase at a rapid CAGR in the retail industry owing to adoption of advanced analytics to improve the retail experience. Growing emphasis on personalization of the retail industry along with high demand for consumer behavior analysis is projected to create new business scope for video analytics companies. Growing use of artificial intelligence and smart retail technologies will also bolster the demand for video analytics going forward.
Global Video Analytics Market By Deployment (%)
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Video Analytics Market Regional Insights
North America is anticipated to account for a dominant share of the global video analytics market. High adoption of advanced analytics, presence of key video analytics providers, and high government spending on defense and surveillance are key factors that help the dominance of this region. The United States is projected to be the most opportune market in this region followed by Canada. Emphasis on improving retail infrastructure and retail experience enhancement is also expected to create new opportunities for video analytics companies in this region.
On the other hand, the demand for video analytics in the Asia Pacific region is projected to increase at a rapid pace over the coming years. Rising emphasis on countering terrorism, growing awareness regarding advanced analytics, and launch of smart city initiatives are projected to create new business scope for video analytics providers in this region. China, India, South Korea, and Japan are estimated to be the leading markets for video analytics companies looking to make a mark in this region.
Global Video Analytics Market By Geography
- Largest
- Fastest
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Video Analytics Market Dynamics
Video Analytics Market Driver
Demand for Better Surveillance
- Growing incidents of thefts and other crimes have led to high demand for better round-the-clock surveillance around the world. Video analytics help identify such incidents and even potentially avoid them by providing deep insights from video surveillance footage thereby driving market growth.
Launch of Smart City Initiatives
- Smart cities are being developed around the world and they are also expected to bolster the demand for video analytics in the future. These cities make use of advanced technologies to improve the safety of citizens and help law enforcement organizations keep peace.
Video Analytics Market Restraints
Challenges in Integration
- Integrating video analytics with existing legacy video surveillance systems could be a major challenge and require substantial human and capital resources. Incompatibility among different video systems will further add to complexity and slow down video analytics demand outlook in the future.
Data Management and Storage
- Video analytics produces heaps of data and managing and storing this data can become a daunting task for video analytics companies going forward. High investments in storage solutions and deployment of resources to manage data are also expected to impede market growth to a certain extent in the future.
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Video Analytics Market Competitive Landscape
Growing emphasis on improving security around the world is projected to primarily augment the sales of video analytics which is why market players should target the defense and government industries. Integrating advanced technologies to improve analytical capabilities of offering will also be a major trend among video analytics companies. Collaborations are also expected to be popular strategies for companies looking to expand their global market presence.
Video Analytics Market Top Player's Company Profiles
- Avigilon Corporation (Canada)
- Axis Communications AB (Sweden)
- Cisco Systems, Inc. (U.S.)
- International Business Machines Corporation
- Aventura Technologies Inc.
- Qognify
- Puretech Systems Inc.
- AllGoVision Technologies Pvt. Ltd.
- Honeywell International Inc. (U.S.)
- Agent Video Intelligence Ltd. (U.S.)
- AllGoVision Technologies Pvt. Ltd (India)
- Earth Water Limited (U.S.)
- Genetec Inc., (Canada)
- Intellivision (U.S.)
- Intuvision Inc., (U.S.)
Video Analytics Market Recent Developments
- In June 2024, Interface Systems partnered with Wobot to introduce a new AI-powered video analytics solution. This innovative technology leverages existing security camera infrastructure to provide real-time insights for businesses in the quick-service restaurant and retail sectors.
- A new user-friendly AI video analytics solution was launched in February 2024. Pratham, a platform that allows users to upload videos to gain significant insights was launched by Assert AI, a renowned computer vision organization.
- Back in May 2023, a new AI video analytics solution was launched by Claro Enterprise Solutions. The new offering uses artificial intelligence expertise from Iveda who is known for its work in the AI video space.
Video Analytics Key Market Trends
- Behavioral Analysis: Video analytics companies should focus on offering behavioral analysis to improve the real-time detection capabilities of security solutions. Identifying a potential threat through behavioral analysis will become a popular trend in the future, which is why video analytics companies should start wokring on perfecting it soon.
- Customized Video Analytics Solutions: Video analytics companies can also focus on the development of custom video analytics solutions as per requirement of consumers or businesses. This is a trend which could help new companies establish themselves and established market players enhance their global presence.
Video Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing emphasis on improving security and using technology to improve video surveillance are slated to drive video analytics market growth. However, complexity in integration and data management issues are slated to impede market development potential in the future. Presence of key video analytics companies in the North American region allows it to emerge as the dominant regional market in the world. Cloud-based video analytics solutions will be highly popular in the long run. Developing custom video analytics solutions and offerings will pay of big time for market players in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.9 Billion |
| Market size value in 2031 | USD 44.7 Billion |
| Growth Rate | 22.3% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Video Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Video Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Video Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Video Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Video Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Video Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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