Video Analytics Market Size, Share, Growth, Sales and 2026 Forecasts Analysis

New York, NY 8 Jan 2020: The global video analytics market size is expected to reach USD 25.4 billion by 2026 according to a new research report published by Polaris Market Research. The report “Video Analytics Market, [By Component (Software, and Services); By Deployment Model (On-Premise, Cloud-Based); By Application (Traffic Monitoring, Intrusion Management, Crowd Monitoring, Automatic Number Plate Recognition, Others); By End User; By Region] – Market Size & Forecast, 2019 – 2026”, provides in depth analysis of the current and future market trends.

Video analytics solutions have the capability of offering real time results. The adoption of these solutions is increasingly rapidly for ensuring security and also reduces the burden in terms of costs by enabling dependency on workforce. Also, minimum investments requirement for the integration of video analytics software into the existing surveillance infrastructure and thus enabling considerable return on investments (RoI), is a major driving factor among enterprises for adoption of these solutions.

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The industry verticals where the adoption of these solutions is high are transportation & logistics, defence and government, and retail sectors. Moreover, significant efforts and focus towards minimizing crime rate in the retail industry via development of a safe and conducive environment for customers and employees is expected to assist the market growth during forecast period. The growth in adoption of these solutions is mainly aided by growing security concerns across the world which in turn has resulted in demand for applications such as monitoring and intrusion management around premises/boundaries.

  

Geographically, North America video analytics market is observed to be the largest market during 2017 among all regions and is expected to dominate throughout the forecast period. Growth in this region is expected mainly due to surge in requirement of efficient video surveillance across the retail sector along with initiatives to curb crime and terrorism activities. Asia Pacific region is expected to witness significant market growth due to introduction of smart cities concept in countries such as China, and India. As a part of these smart city initiatives various techniques for video surveillance are required to be integrated in administration systems to enhance efficiency.

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Some of the leading companies providing video analytics solutions covered in the competitive section of the report include Agent Video Intelligence Ltd, Allgovision Technologies Pvt. Ltd., Aventura Technologies Inc, Avigilon Corporation, Axis Communications, Cisco Systems Inc., Genetec Inc., Honeywell International Inc., International Business Machines Corporation, Intuvision, Inc., and Qognify Puretech Systems Inc. The video analytics space is observed to be fragmented and consists of several players impacting the regional and global market. Strategic initiatives such as collaborations, mergers, new market entries, targeted solutions, etc. are undertaken by the companies to expand their customer base. For instance, during 2017 Cisco introduced a video analytics tool targeted at improvement of operators’ knowledge in the public transportation sector.

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