The
global video analytics market size is expected to reach USD 9.4
billion by 2025, according to a new study by Grand View Research, Inc.,
registering a 22.8% CAGR over the forecast period. Increasing demand for
intelligent security surveillance systems, which can be used for estimating key
trends and deriving patterns, is the key factor driving market growth. In
addition, increasing concerns over public safety and use of video analytics in
criminal investigations are positively impacting demand for video analytics
solutions.
Apart
from surveillance, video analytics solutions have also found increasing
application in the retail sector for estimating average footfall, gender
bifurcation, display effectiveness, and attractiveness of shelf space.
Furthermore, superstores and mega marts have started implementing these systems
to gain insight into consumer behavior.
Use
of advanced algorithm technology in video analytics enables examination of
captured videos frame by frame, irrespective of light exposure, thereby making
video analytics a reliable and efficient choice for ensuring security.
Furthermore, industries such as transportation, retail, and healthcare are
witnessing significant increase in the adoption of video analytics, owing to
rising application of intrusion detection, license plate recognition, crowd
management, and congestion detection in these industries.
Browse full
research report on Video Analytics Market: www.grandviewresearch.com/industry-analysis/video-analytics-market
Further
Key Findings From the Study Suggest:
- Facial recognition is expected to emerge as the
fastest growing application segment with a CAGR of 25.9% from 2017 to
2025. This can be attributed to widening scope of facial recognition
solutions for surveillance purposes at malls, events, airports, and public
transport, among others
- By type, the services segment is projected to
register the highest CAGR of 24.0% for the next eight years. This can be
attributed to increasing demand for and installation of video analytics
solutions, which are, in turn, propelling demand for related managed and
professional services
- The cloud segment is anticipated to emerge as
the most preferred deployment option for video analytics solutions as it
offers flexibility and convenience, allows remote access, and provides
easy maintenance
- North America accounted for the largest share
in 2016 and is driven by presence of prominent market players who
consistently work on developing new and innovative technologies in video
analytics
- The retail end-use segment is anticipated to
register the highest CAGR of 25.6% over the forecast period. This
may be attributed to use of video analytics in applications such as people
counting, display and promotion effectiveness, product placement and store
layout, and customer preference pattern analysis
- Asia Pacific is expected to experience the
highest growth from 2017 to 2025, driven by emerging economies such as
India and China. These nations are expected to augment their expenditure
on intelligent and security surveillance systems
- Key industry participants include Cisco Systems,
Inc.; Axis Communications AB; Bosch Security Systems GmbH; Agent Video
Intelligence Ltd.; Honeywell International Inc.; IBM Corporation;
AllGoVision Technologies Pvt. Ltd.; Genetec Inc.; Aventura Inc.; and i2v
System Pvt. Ltd.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/electronic-security-systems-and-devices
Grand View Research has segmented the global video analytics market based
on type, deployment, application, end use, and region.
Video
Analytics Type Outlook (Revenue, USD Million, 2014 - 2025)
- Software
- Services
Video
Analytics Deployment Outlook (Revenue, USD Million, 2014 - 2025)
- Cloud
- On-premise
Video
Analytics Application Outlook (Revenue, USD Million, 2014 - 2025)
- Crowd
Management
- Facial
Recognition
- Intrusion
Detection
- License
Plate Recognition
- Motion
Detection
- Others
Video
Analytics End-use Outlook (Revenue, USD Million, 2014 - 2025)
- BFSI
- City
- Critical
Infrastructure
- Education
- Government
- Retail
- Transportation
- Others
Video
Analytics Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia
Pacific
- China
- Japan
- India
- Latin
America
- Brazil
- Middle
East & Africa (MEA)
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-video-analytics-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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