The research study conducted by Report Ocean on the “ Video Analytics Market ” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Global Video Analytics Market is valued at approximately USD 7.1 billion in 2022 and is anticipated to grow with a compounded annual growth rate (CAGR) of more than 23.4% over the forecast period 2022-2030. Video Analytics is the study of analyzing video graphics data through various software and other technologies to draft useful insights, information by analyzing patterns, understanding trends over time from the video content. This includes examining data collected from surveillance footage, consumer-generated content to recognize the object, people, and events for tracking their movement. It includes various industries such as security, retail, transport & logistics, healthcare, and so on. Video analytics help these industries to process large data in real-time with the help of specialized software and technologies. The Global Video Analytics Market is expanding owing to growing factors such as government spending on public safety, consumer’s demand for their security. However, high operational costs and privacy concerns may hamper the growth of the market.
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Video analysis software can be used to analyze video footage of crashes and collisions to determine the cause and severity of injuries. By analyzing video footage, researchers and engineers can identify areas for improvement in safety features and make design changes to prevent or reduce injuries in future accidents. According to the Centers for Disease Control and Prevention (CDC), Globally, injuries from crashes were the eighth most common cause of death across all age groups, while for children and young adults aged 5 to 29 years old, they were the primary cause of mortality.It is estimated that fatal and nonfatal crash injuries will cost the world economy approx. USD 1.8 trillion from 2015-2030. Furthermore, According to the government of United States in 2023, has allocated a budget of USD 710.20 billion for social security, which is 15% of the fiscal budget 2023 that to be spent on social security. Along with this, the government of different nation is investing in the development of social security which helps in monitor and analyzing the video. According to the Indian government Lucknow city has been allocated with a total of USD 69.5 million for smart city surveillance. This will have a positive impact on the video analytics market as a significant rise in road accidents and the increasing smart city development will lead to the growth of the Global Video Analytics Market. Moreover, Continuous infrastructural development and increasing demand for public security will emerge to be the growth opportunities for the Global Video Analytics Market.
The key regions considered for the Global Video Analytics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is projected to dominate the market with the highest CAGR in the video analytics market owing to the factors such as the rising population of India and China, the development of smart cities project, and so on. North American region is expected to be fastest growing region owing to the factors like continuous infrastructural development and government spending on public security also in terms of fast adaptation of advanced technology. The North American region is expected to grow aiming at the factors such as technological advancement, social security, and so on, which will lead to the expansion of the global video analytics market.
Major market players included in this report are:
Avigilon Corporation (Subsidiary of Motorola Solutions Company)
Axis Communications Video Surveillance Company
Cisco Systems Inc.
Honeywell International Inc.
International Business Machine Corporation (IBM)
AllGoVision Technologies Pvt. Ltd.
Genetec Inc.
IntelliVision Corp.
Gorilla Technology group
Intu Vision Inc.
Recent Developments in the Market:
In March 2023, The France government approved a controversial legislation that grants law enforcement the power to employ artificial intelligence (AI) technologies for surveillance operations. This decision precedes he upcoming Paris 2024 Olympics, which is anticipated to attract a massive influx of tourists.
In March 2023, Pimloc a company focused on privacy technology and based in the UK, has announced the introduction of its Cloud Connect API, This tool is designed to provide secure video redaction, which aims to address the growing concern over the increased use of video capture in business settings.
Global Video Analytics Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component, Application, Deployment Model, Vertical, Type, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Component:
Software
Services
By Application:
Incident Detection
Intrusion Management
People/Crowd Counting
Traffic Monitoring
Automatic Number Plate Recognition
Facial Recognition
Other Application
By Deployment Model:
Cloud
On-Premise
By Vertical:
Banking, Financial Services and insurance (BFSI)
Critical Infrastructure
Education
Hospitality & Entertainment
Manufacturing
Government & Defense
Retail
Transportation & logistics
Other Verticals
By Type:
Server Based
Edge Based
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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