Video Analytics Market Size, Industry Analysis Report By Type (Software (On-premise and Cloud), Services), By End-user (BFSI, Healthcare, Retail & Logistics, Critical Infrastructure, Hospitality and Transportation, Defense and Security) & Region Forecasts

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The Video Analytics Market: Overview
The global video analytics market reached a value of US$ 5.3 Billion in 2022 and is expected to reach around US$ 15.5 Billion by 2028, registering a CAGR of 20.5% over the forecast period. In order to identify spatial events, real-time video streams are monitored, processed, and analyzed using computers. Videos are typically analyzed using software programs, numerous cameras, and AI-based algorithms to learn about characteristics, events, and human behavioral patterns. These data are utilized for surveillance, motion as well as intrusion detection, heat mapping, and tracking user traffic on social media sites. Additionally, they are utilized for dynamic blurring, 2D & 3D counting, facial recognition, and reading license plates. As a result, video analytics has many uses in many different industries, including retail, critical infrastructure, traffic control, banking, financial services, and insurance (BFSI).

The Video Analytics Market - Growth Factors
This expansion can be primarily ascribed to growing worries about the public's safety and security. Another important element propelling the market is the expanding use of video analytics to lower crime rates through prompt notifications regarding suspicious or unusual activity. The demand for intelligent video surveillance is increasing as a result of new characteristics such as increased accuracy, dependability, and cost-effectiveness as well as its expanding importance in business intelligence. These technologies are widely used to uncover trends in consumer behavior, traffic flow, and foot traffic frequency in user-defined areas. When it comes to carrying out safety-related procedures, video surveillance is crucial. By recognizing license plates and recognizing faces, public and private video surveillance systems help to lower crime rates and protect public and private spaces. Furthermore, since it may be used to gather evidence, video recording has evolved into a crucial instrument in legal proceedings. The majority of companies are using video analytics to update their product offers based on inferred consumer behavior patterns and to redesign their plans based on acquired insights.

The Video Analytics Market Market Trends
North America region is expected to be the largest market for video analytics during the forecast period. New development & upgradation of urban surveillance and traffic management systems, along with government initiatives for the integration of video surveillance in security systems, are some of the major drivers for this market in the region.
The retail segment is expected to have the largest market share and dominate the overall market during the forecast period. Retailers use video analytics to enhance their business processes and manage their inventory levels.
On-premises deployment is estimated to bthe e largest revenue-generating segment because enterprises prefer their internal infrastructure for hosting video analytics software instead of outsourcing it to third parties due to security concerns

The Video Analytics Market Segmentation
Video Analytics Market, By Type
Software (On-premise and Cloud)

Video Analytics Market, By End-user
Retail & Logistics
Critical Infrastructure
Hospitality and Transportation
Defense and Security
Other End-user verticals (Manufacturing, etc.)

The Video Analytics Market Regional Analysis
In 2020, North America held the top regional market position, valued at USD 735.5 million, as a result of the significant presence of major industry players. Currently, the United States is the country that uses video analytics the most. Strong economic growth in the nation fosters rapid technological advancement. Additionally, by embracing analytics, firms have been refocusing operations on security and safety. Due to changing client needs, there has been a movement from the traditional on-premise implementation of video analytics to cloud deployment.

The Video Analytics Market Key Market players
The major players in the market are:
Avigilon Corporation
Agent Video Intelligence Ltd.
Honeywell International Inc.
AllGoVision Technologies Pvt. Ltd
Hangzhou Hikvision Digital Technology Co., Ltd.
Dahua Technology Co., Ltd.
Huawei Technologies Co., Ltd.
NEC Corporation

Report scope
Global Video Analytics Market: Historical Years- 2018-2021
Global Video Analytics Market: Forecast Years- 2022-2030
Global Video Analytics Market 2022- USD 5.3 Billion
Global Video Analytics Market CAGR- 20.5%

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