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Video Analytics Market to grow by USD 16.86 billion from 2022 to 2027, Market driven by the rising demand for improved security arrangements - Technavio
[October 24, 2023]

Video Analytics Market to grow by USD 16.86 billion from 2022 to 2027, Market driven by the rising demand for improved security arrangements - Technavio


NEW YORK, Oct. 24, 2023 /PRNewswire/ -- The "Video Analytics Market by end-user (Government sector, Commercial sector, Banking and financial services, Traffic management sector, and Others), deployment (On-premise and Cloud), and geography (North America, APAC, Europe, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the video analytics market between 2022 and 2027 is USD 16.86 billion

The rising demand for improved security arrangements is notably driving the market growth. The increase in the frequency and severity of security breaches and incidents such as theft, shoplifting, and acts of terrorism has prompted governments and large enterprises to embrace video analytics solutions as a means of managing antisocial activities. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge 

Limitations associated with video analytics are the significant challenge impeding market growth. The market faces several challenges, primarily stemming from mechanical failures of cameras and video analytics systems, data storage requirements, and performance issues. Uploading videos without compression is often necessary to maintain their quality, as compression and data transmission can compromise video quality over the network. However, uncompressing video on the server demands an additional processor, which can reduce server efficiency for analytics purposes. Video analytics is effective in ensuring premises' security, identifying unattended items, nd recognizing vehicle license plates in public areas. Nonetheless, the efficiency of video analytics systems can be impeded by changing weather conditions. 



Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now

  • The market share growth of the government sector segment will be significant during the forecast period.  Video analytics technology plays a pivotal role in the government sector, significantly contributing to efficient data collection and analysis. This, in turn, enhances the security of government and military facilities. The data gathered through video analytics aids in elevating situational awareness within these premises, a critical requirement at military bases. Video analytics excels in identifying noteworthy behaviours and promptly alerting security operators to suspicious activities. 
                                           
  • APAC is estimated to contribute 41% to the growth of the global market during the forecast period.

 View Sample Report for insights into the contribution of all the segments and regional opportunities in the report.


Key Companies in the Video Analytics Market:

Agent Video Intelligence Ltd., Alarm.com, AllGoVision Technologies Pvt. Ltd., BriefCam Ltd., Canon Inc., Cisco Systems Inc., Genetec Inc., Gorilla Technology Inc., Honeywell International Inc., Huawei Investment and Holding Co. Ltd., i2V Systems Pvt. Ltd., Infinova, International Business Machines Corp., NEC Corp., NICE Ltd., PureTech Systems Inc., Robert Bosch GmbH, Verint Systems Inc., Viseum UK Group, and Zhejiang Dahua Technology Co. Ltd.

Related Reports:

The Video Surveillance as a Service (VSaaS) Market size is estimated to grow at a CAGR of 18.65% between 2022 and 2027. The market size is forecast to increase by USD 4,936.48 million. 

The closed circuit television (CCTV) market size is estimated to grow at a CAGR of 11.92% between 2022 and 2027. The CCTV market size is forecast to increase by USD 12,643.33 million. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Deployment 

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

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SOURCE Technavio


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