According to IMARC Group’s latest report, titled “Video Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global video analytics market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the global market to grow at a CAGR of 22% during 2021-2026.
Video analytics refers to solutions that monitor, process and analyze digital video signals with the help of a special algorithm to perform security-related functions. It involves the use of numerous cameras, software applications and artificial intelligence (AI)-based programs for various tasks, including motion detection, facial recognition, traffic and queue detection, intrusion detection, and crowd and vehicle counting. Apart from this, these technologies are also being deployed for dynamic blurring and generating heat maps. As a result, they are widely being utilized across multiple industry verticals, such as retail, transportation, logistics and banking, financial services and insurance (BFSI).
The video analytics market is primarily driven by the increasing incidences of security breaches across numerous industries. This has led to the rising demand for advanced public surveillance and security systems, thereby providing a thrust to the market growth. This is also being supported by the growing deployment of internet protocol (IP)-based surveillance systems for business intelligence (BI). Some of the other factors contributing to the market growth include rapid expansion of smart cities, an increasing need to monitor traffic and accidents in real-time and the growing industrial automation across the globe.
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Video Analytics Market 2021-2026 Competitive Analysis and Segmentation:
The competitive landscape of the video analytics market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the global video analytics market on the basis of component, deployment type, application, architecture type, organization size, end user and region.
Breakup by Component:
Breakup by Deployment Type:
Breakup by Application:
Breakup by Architecture Type:
Breakup by Organization Size:
Breakup by End User:
Breakup by Region:
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Key highlights of the report:
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