Bharat Book Bureau provides its Trending Market Research Report on ” Video Analytics Market by Component (Software & Services), Application (Facial Recognition, People Counting, ANPR, Video Telematics), End-User (BFSI, Education, Healthcare, Retail, Manufacturing, Government)–Global Forecast to 2029” under the Services Market Research Report in the category of Services Market Research Report. The report provides a variety of the top Market analysis, Market analysis, competitive intelligence, as well as Market reports.
Video Analytics Market by Component (Software & Services), Application (Facial Recognition, People Counting, ANPR, Video Telematics), End-User (BFSI, Education, Healthcare, Retail, Manufacturing, Government)–Global Forecast to 2029
The report of research is entitled “Video Analytics Market by Component (Software & Services), Application (Facial Recognition, People Counting, ANPR, Video Telematics), End-Use Industry (BFSI, Education, Healthcare, Retail, Manufacturing, Government)–Global Forecast to 2029,” gives a comprehensive analysis of the market for video analytics across five major geographic regions and focuses on current trends in the market, market size and market share, as well as new developments, as well as forecasts for 2029.
The market for video analytics is projected to grow to $19.3 billion in 2029 at an increase of 21.0 percent over the 2022-2029 forecast.
The expansion of the market for video analytics is due to factors like the rising use of video analytics for surveillance across various industries such as banking, financial services as well as insurance (BFSI) and healthcare, education and retail, transportation and manufacturing. Additionally technological advances in deep learning as well as edge computing and artificial intelligence has enhanced the efficiency and precision in video analysis, further increasing popularity of this industry.
The study provides a complete analysis of the market for video analytics by analyzing components (software or services) and deployment method (cloud or on-premise) as well as applications (facial identification, intrusion and access controls, objects and pattern detection flow and crowding management automated identification of number plates (ANPR) system video telematics, vehicle tracking) and the end-user industry (BFSI education aerospace and defense manufacturing, healthcare retail automotive, transportation and logistics government, agriculture, and many more) and the geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also examines industry competitors and analyzes market at the national level.
Based on the component of the market, it is divided into services and software. In 2022 it is expected that the software market is predicted to hold the largest part of the market. The rise in the use of video analytics in the lockdown has positively affected the demand for software that can be used to analyze video in the health, government, and education industries. Furthermore, the video analytics software helps to minimize problems related to the identification of objects such as face/mask recognition, remote surveillance and more. This increasing use to the application is predicted to increase the software demand in the coming forecast.
Based on the application of video analytics, the market is divided in to facial recognition, intrusion and control of access, object and patterns, pattern recognition, people count flow and crowding management automated number plate recognition (ANPR) system video telematics and vehicle tracking. The people-counting segment is predicted to hold the most market share by 2022. Utilizing video analytics to count people has been extensively adopted in the midst of the pandemic.
To ensure social distancing is maintained industries that use end-users like healthcare banks, financial services and insurance (BFSI) and retail along with government departments have implemented video analytics to track the number of people that enter the premises at a particular moment in time. The video telematics market is predicted to be the fastest-growing segment over the forecast time. The rapid growth in this market is due to the increasing importance of paying attention to the behavior of drivers, monitoring in-fleet vehicles, as well as decrease in the cost of accidents.
Based on deployment type Based on deployment mode, the market for video analytics is classified into on-premise deployment or cloud-based deployment. In 2022 the cloud-based deployment segment is expected to comprise the biggest portion of the market for video analytics because of factors like ease of deployment, management and usage.
Cloud technology can provide lower capital costs upfront as well as a broad network access adaptability, scalability, and technological evolution as well as cyber security remote access and reliability. When compared to servers on premises cloud-based servers are efficient and secure with modern firewalls. In light of these advantages cloud-based deployment is expected to grow at the fastest rate of growth during the forecast time.
Based on the end-user industry and end-user industry, the market for video analytics is classified into BFSI healthcare, education and healthcare, government, aerospace and defense manufacturing and transportation, automotive logistics as well as agriculture. In 2022 it is expected that the BFSI segment is predicted to represent the largest market. But, the healthcare sector is predicted to be the fastest-growing segment in the forecast time. In the healthcare industry video analytics offers rapid response to threats, better surveillance of the facilities improved security, awareness of the situation, and efficiency in operations.
Based on geographic location and geography, the market for video analytics is classified by geography into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. in 2022 North America is estimated to hold the most market share due the huge applications of video analytics within regions like government, healthcare retail, manufacturing, and healthcare. However it is in the Asia-Pacific region is expected to experience the highest CAGR over the forecast time. The increasing amount of cities that are smart across countries like China, India, South Korea, Singapore, and Japan is driving the use of video analytics in surveillance and security. These trends are likely to propel the development of the market for video analytics over the forecast time.
The report offers an analysis of the competitive landscape, that is based on a thorough analysis of the major strategic changes of the top video analytics companies over the last couple of years. The major players in the market include Axis Communications Pvt. Ltd. (India), Axis Communications AB (Sweden), Cisco Systems, Inc. (U.S.), Honeywell International, Inc. (U.S.), IBM Corporation (U.S.), IntelliVision (U.S.), Verint Systems, Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Gorilla Technology Group, Inc. (R.O.C. ), i2v Systems Pvt. Ltd. (India), ADT, Inc. (U.S.), Agent Video Intelligence Ltd. (U.S.), Intuvision, Inc. (U.S.), Avigilon Corporation (Canada), Stanley Convergent Security Solutions, Inc. (U.S.), Eagle Eye Networks (U.S.) as well as Milestone Systems A/S (Denmark) as well as other.
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