Intelligent Video Analytics Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Intelligent Video Analytics Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 28, 2024 /EINPresswire.com/ -- The intelligent video analytics systems market size is projected to grow from $3.54 billion in 2023 to $4.07 billion in 2024, at a compound annual growth rate (CAGR) of 15%. This growth is driven by increased data storage capacities, integration of edge computing, response to global health crises, and expansion of smart home and IoT technologies. Despite challenges, the market is anticipated to reach $7.17 billion by 2028.

Rising Demand for Surveillance and Security Solutions Drives Market Growth
The increasing demand for surveillance and security solutions is a significant factor contributing to the growth of the intelligent video analytics systems market. These solutions employ advanced AI and computer vision techniques for object detection, tracking, recognition, behavior analysis, and anomaly detection. For instance, in August 2022, Buddi Limited signed a £6 million contract with the UK government to use facial recognition smartwatches for monitoring immigrants convicted of criminal offenses, highlighting the expanding use of intelligent video analytics systems in surveillance.

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Major Players Innovate with AI-Based Solutions
Key players in the intelligent video analytics systems market, such as Robert Bosch GmbH, Motorola Solutions Inc., and Axis Communications AB, are focusing on AI-based video analytics to enhance surveillance capabilities. For example, Dallmeier Electronic GmbH introduced Sedor AI, an AI-based video analytics software for maritime applications, aiding in vessel identification and security compliance.

Current Trends in Intelligent Video Analytics Systems
Trends shaping the market include human-centric analytics, explainable AI for transparent insights, deep learning for complex tasks, customizable modular solutions, and real-time anomaly detection for proactive security measures.

Market Segments
• Type: Camera-based Systems, Server-based Systems
• Offering: Hardware, Software
• Application: Banking, Financial Services and Insurance (BFSI) Sector, Government, Industrial Sector, Retail Sector, Transportation, Other Application
Asia-Pacific to Lead Growth

North America led the intelligent video analytics systems market in 2023, driven by advanced technological adoption. Asia-Pacific is expected to be the fastest-growing region, supported by urbanization, smart city initiatives, and increasing adoption of retail analytics and IoT devices.

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Intelligent Video Analytics Systems Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Intelligent Video Analytics Systems Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on intelligent video analytics systems market size, intelligent video analytics systems market drivers and trends, intelligent video analytics systems market major players, competitors' revenues, market positioning, and market growth across geographies. The intelligent video analytics systems market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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