BANGALORE, India, June 17, 2020
BANGALORE, India, June 17, 2020 /PRNewswire/ -- Video analytics technology was created to help review the growing hours of surveillance video by automatically tracking video frames of individuals, cars, and items, and analyze historical data to mine insights.
The video analytics software and services market size was valued at USD 4.10 Billion in 2019 and is projected to reach USD 20.80 Billion by 2027, growing at a CAGR of 22.7% from 2020 to 2027.
The report focuses on growth, limitations, and trends in the video analytics market. The study offers a detailed Porter's five forces analysis to understand the effect of various variables, such as supplier negotiating ability, competitive competition, newcomers' risks, alternative challenges, and buyers' negotiating power on the global market.
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TRENDS INFLUENCING THE VIDEO ANALYTICS MARKET SIZE
VIDEO ANALYTICS MARKET SHARE ANALYSIS
In 2019, the retail sector dominated the overall market share of video analysis and will show substantial growth over the forecast period. The sector's growth is largely due to the need to track customer behavior, buying preferences, the selection pattern, and the amount of time consumed in those segments.
North America remains the largest provider of video analysis software in the world. The United States and Canada are the major contributors to this region. The USA is a dominant market, and companies in the country invest a substantial proportion of its annual revenues in the use of city-wide surveillance cameras.
The Asia Pacific became the second-largest market, and this can be attributed to countries like India, China, and Indonesia's fast economic growth. To guarantee their citizens' safety, these economies invested in intelligent security surveillance systems. The growing implementation of industrial solutions is expected to drive the market, especially in China, Japan, and India, combined with the rising use of cloud-based technologies.
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TOP VIDEO ANALYTICS COMPANIES
KEY MARKET SEGMENTS
By Component Type
By Deployment Type
By Organization Size
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SIMILAR REPORTS :
The global Content Analytics market size is projected to reach USD 4722.9 Million by 2026, from USD 3946.7 Million in 2020, at a CAGR of 17.9%% during 2021-2026.
The on-site segment holds the largest content analysis market share in terms of the type of deployment. The growing adoption of SaaS applications by companies, however, provides enormous growth opportunities for solutions in cloud/host content analysis.
In 2019, the global Video Content Analytics (VCA) Software market size was USD 2326.4 Million.
Based on the region, North America is expected to hold the largest VCA software market share, with a revenue share of nearly 37.90% in 2017. On the other hand, Asia Pacific is expected to witness the highest growth rate during the forecast period.
The global video surveillance market size was valued at USD 42.94 Billion in 2019 and is projected to reach USD 144.85 Billion by 2027, registering a CAGR of 14.6% from 2020 to 2027.
Governments, enterprises, financial institutions, and healthcare organizations are expected to have a certain level of security and monitoring measures. As a result, there has been a dramatic increase in the demand for security applications such as video surveillance to monitor and record video data. This necessity is, in turn, expected to increase the Video surveillance market size.
Intelligent Video Analytics utilizes advanced technologies like AI to analyze life, streaming video from CCTV, surveillance, and embedded cameras to provide actionable alerts for security events, eliminating false alarms and reducing the need for manual monitoring.
This report focuses on the global Intelligent Video Analytics IVA market size, future forecast, growth opportunity, key market, and key players. The study objectives are to present the Intelligent Video Analytics IVA development in the United States, Europe, and China.
Video analytics powered by AI are event-based approaches, using profound learning and artificial intelligence, analyzing large numbers of data generated in video efficiently, and delivering a rapid response in real-time. This system reduces manual monitoring and associated costs and enhances video surveillance systems' productivity.
During the period forecast, North America will help to accelerate the growth of the smart video surveillance industry. The AI-powered video analysis market size and share in this field would be positively influenced by factors, such as the growing need for rising overall efficiency, corporate analysis, and growing OTT services.
This report also studies the Public Video Analytics Market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis.
This report studies the Network Cameras and Video Analytics market size by players, regions, product types and end industries, history data 2014-2018, and forecast data 2019-2025.
The Global Facial Recognition Market size will grow from USD 3.54656 Billion in 2019 to USD 9.99235 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.84%.
The growing use of face recognition technology in various applications drives market development. For safety reasons, the border authorities use the technology to verify the identity of passengers, especially at airports. The law enforcement agencies also use tools to search and identify the target person on the faces caught on CCTV.
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