What Has Been the Growth of the Video Analytics Market So Far?
The video analytics market has seen considerable growth due to a variety of factors.
• The expansion of the video analytics market has been swift in recent years. Expected to rise from $8.08 billion in 2024 to $9.61 billion in 2025, the compound annual growth rate (CAGR) is set at 18.8%.
The notable growth during the historical period is a result of an increased focus on security, the demand for retail optimisation, advancements in traffic management, public safety and emergency response systems, and improvements in operational efficiency across industries.
How Will The Video Analytics Market Size Evolve In The Foreseeable Future?
The video analytics market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the video analytics market is projected to undergo substantial expansion in the coming years. It is expected to escalate to a staggering $20.95 billion by 2029, with a remarkable CAGR of 21.5%.
The projected surge within this period is likely tied to the increasing adoption in smart cities, retail enhancements, and customer experience, as well as health and safety compliance. Key trends during the forecast period are anticipated to include emotion and sentiment analysis, IoT sensor integration, automated license plate recognition (ALPR), live crowd monitoring, and customizable, open architecture solutions.
Which Key Drivers Are Propelling Th Video Analytics Market's Growth?
The anticipated expansion of the video analytics market is attributed to the reduction in crime rates driven by surveillance cameras. The vast number of videos produced by surveillance cameras is crucial for the security of any structure. Video analytics contributes to decreasing crime rates by seamlessly tracking and deriving trustworthy information from video clips, thus minimizing potential mistakes or human oversights. For instance, a study from March 2022, according to UK-based CCTV and crime prevention statistics, demonstrated a 13% reduction in crime in areas equipped with CCTV as opposed to areas without it. The study also indicated that the presence of CCTV significantly impacts specific types of crimes: drug-related crimes reduced by 20%, while vehicle and property crimes reduced by 14%. As a result, the decline in crime rates triggered by surveillance cameras is set to steer the growth of the video analytics market.
What Are The Core Segments Of The Globa Video Analytics Market?
The video analytics market covered in this report is segmented –
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
Subsegments:
1) By Software: On-Premises Software, Cloud-Based Software
2) By Services: Consulting Services, Integration Services, Support And Maintenance Services
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Which Emerging Trends Are Reshaping The Video Analytics Market?
Technological innovations are becoming a significant trend in the video analytics market. Leading market participants are emphasizing the use of new technologies to stay ahead in the market. For instance, in September 2022, Dallmeier Electronic GmbH & Co. KG, a company based in Germany that manufactures video security technology, launched Sedor AI, an artificial intelligence-powered video analytics tool geared towards maritime uses. Sedor AI software can identify watercraft in open waters under regular or challenging conditions such as waves or water reflections. This software aids port operators and refineries in defending against unauthorized water-side access and associated threats like terrorism or piracy. On top of that, it aligns with legal guidelines such as the ISPS (International Ship and Port Facility Security Code).
Who Are the Key Players in the Video Analytics Market?
Major companies operating in the video analytics market include:
• 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
• Synectics plc
• Qognify Inc.
• BriefCam Ltd.
• Gorilla Technology Group Inc.
• PureTech Systems Inc.
• Aventura Technologies Inc.
• Camio Inc.
• KiwiSecurity Services Ltd.
• Sighthound Inc.
• Citilog Inc.
• Agent Video Intelligence Inc.
• Solink Corporation
• AllGoVision Technologies Pvt Ltd.
• Viseum Limited
What are the Regional Insights into the Video Analytics Market?
North America was the largest region in the video analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
