WILMINGTON, DE, UNITED STATES, June 5, 2024 /EINPresswire.com/ -- According to a recently released report by Allied Market Research, the global video analytics market was valued at $4,102.0 million in 2019 and is projected to reach $21,778.0 million by 2027, recording a CAGR of 22.7% from 2020 to 2027. The study explores a detailed observation of various market aspects, including its trends, regional analytics, and competitive landscape.  

Key factors influencing the market

Several factors impact the expansion of the global video analytics market. These include the rising need for advanced security and surveillance solutions across various industries, the increasing adoption of IoT and connected devices, advancements in artificial intelligence and deep learning technologies, and the growing demand for real-time insights and actionable data from video footage. Additionally, government initiatives to enhance public safety and the proliferation of smart city projects further drive the adoption of video analytics solutions, fueling market growth and innovation.

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Contemporary and upcoming trends in the industry  

AI-powered insights, enhanced security solutions, and personalized experiences: With the proliferation of AI, video analytics now offer deeper insights through real-time data processing, enabling businesses to make informed decisions swiftly. Video analytics are playing a pivotal role in bolstering security measures across various sectors, including retail, banking, and transportation, by providing advanced threat detection and predictive analytics capabilities. In the retail sector, video analytics are revolutionizing customer experiences by enabling personalized marketing strategies, optimizing store layouts, and analyzing customer behavior in real time.

Edge Computing Adoption and emphasis on privacy: The shift towards edge computing is gaining momentum in the video analytics market, enabling faster processing of data and reducing latency, thus enhancing overall system efficiency. As concerns around data privacy continue to escalate, the next wave of video analytics solutions will focus on implementing robust privacy preservation techniques, such as anonymization and encryption, to safeguard sensitive information.

Integration with IoT, AR, and 5G: The convergence of video analytics with the Internet of Things (IoT) and the rollout of 5G networks will unlock new possibilities, facilitating seamless connectivity and enabling the deployment of innovative applications across various industries. The integration of augmented reality into video analytics will redefine immersive experiences, enabling users to overlay real-time information and insights onto their surroundings, revolutionizing fields such as retail, education, and entertainment.

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Sustainability-driven solutions: With a growing emphasis on sustainability, video analytics solutions will increasingly incorporate eco-friendly features, such as energy-efficient algorithms and solar-powered surveillance systems, to reduce carbon footprints.

Key takeaways of the study 

This study includes the video analytics market analysis, trends, and future estimations to determine the imminent investment pockets. The report also presents information related to key drivers, restraints, and video analytics market opportunity. The video analytics market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry. Moreover, Porter’s five forces analysis illustrates the potency of buyers & suppliers in video analytics market.

Segmental orientation  

The global video analytics market is segmented by component, deployment, organization size, application, and region. The growth of the component segment is attributed to the growing need to monitor premises or any facility for physical threats or suspicious activities. Meanwhile, the growth of deployment segment is owing to the adoption of on-premise deployment model by industries such as banking, financial services & insurance (BFSI), education, and healthcare, which are vulnerable to cyber-attacks or data breaches. Moreover, growth of the application segment in the global video analytics market is primarily driven by increasing demand for intelligent surveillance, enhanced security measures, and the integration of advanced technologies like AI and deep learning for real-time insights and actionable data.

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Regional dynamics 

Region-wise, North America leads the market. Growth in demand for business intelligence and increase in demand for technologically enhanced public safety infrastructure drives the market in North America. However, Asia-Pacific is expected to observe highest growth rate during the video analytics market forecast period, owing to emerging trend of adopting video analytics in various sectors including retail and public sector, as well as the transportation industry.

Competitive scenario 

PURETECH SYSTEMS INC.

QOGNIFY

ALLGOVISION TECHNOLOGIES PVT. LTD.

INTERNATIONAL BUSINESS MACHINES CORPORATION

CISCO SYSTEMS, INC.

AVENTURA TECHNOLOGIES, INC.

INTELLIVISION TECHNOLOGIES CORP.

HONEYWELL INTERNATIONAL INC.

VERINT SYSTEMS INC.

AXIS COMMUNICATIONS AB

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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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