Overview of the Market:
The Video Analytics Market Size 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.
Market Overview, Trends, and Scope for Video Analytics:
Technology breakthroughs and rising need for business information, security, and surveillance solutions are fueling the video analytics market's rapid evolution. The main trends and market size are described in this study, along with a thorough examination of the market's present state and anticipated future developments.
Important Factors Fueling the Video Analytics Market's Growth:
The increasing requirement for automated surveillance systems, increased security measures, and the growing necessity for organizations to use video data for better decision-making are some of the reasons driving the growth of the video analytics market. The development of the market is also greatly influenced by technological developments in cloud computing, AI, and machine learning.
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Market Methodology for Video Analytics:
Using primary and secondary research, industry expert interviews, and data from dependable sources, this report on the video analytics market follows a sound approach. A thorough and precise market projection is ensured by combining qualitative and quantitative analysis. In order to give actionable insights, market sizing and trends are assessed using sophisticated statistical models and industry-standard methodologies.
Market Size and Forecast for Video Analytics
The size of the video analytics market has grown significantly in recent years and is expected to keep growing quickly. The market is anticipated to grow in the upcoming years due to factors including rising investments in smart city efforts and growing use across a variety of industries, including retail, healthcare, and transportation.
Key Market Players:
• Avigilon Corporation
• AXIS COMMUNICATIONS
• 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
• BriefCam
Video Analytics Market Growth Segments:
Video Analytics Market, By Type
• Software (On-premise and Cloud)
• Services
Video Analytics Market, By End-user
• BFSI
• Healthcare
• Retail Logistics
• Critical Infrastructure
• Hospitality and Transportation
• Defense and Security
• Other End-user verticals (Manufacturing, etc.)
Prospects for the Growth of the Video Analytics Market:
The market for video analytics is expanding quickly due to advancements in technology, rising demand for security products, and the growing use of smart infrastructure. With industries all over the world depending more and more on video analytics for security, operational effectiveness, and customer insights, the market is anticipated to grow significantly.
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Regional Perspectives on the Market for Video Analytics:
The market for video analytics is expanding significantly in a number of regions, including the Middle East and Africa, Asia-Pacific, Europe, and North America. Because of the strong demand for cutting-edge security solutions and the presence of important industry players, North America is now the market leader. However, due to rising urbanization and technology developments in emerging economies, the Asia-Pacific region is predicted to grow at the fastest rate.
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