The future of the global video analytics market looks promising with opportunities in the crowd management, facial recognition, intrusion detection, license plate recognition, and motion detection markets. The global video analytics market is expected to reach an estimated $10.2 billion by 2030 with a CAGR of 23.0% from 2024 to 2030. The major drivers for this market are growing concerns regarding the safety and security of the public, expanding use of video analytics to lower crime rates by promptly alerting users to questionable or anomalous activity, and technological development in deep learning, artificial intelligence & edge computing.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the video analytics market by
type (software and services), deployment (cloud and on-premise), application
(crowd management, facial recognition, intrusion detection, license plate
recognition, motion detection, and others), end use industry (bfsi, government,
critical infrastructure, education, retail, travel and transportation,
healthcare, and others), and region (North America, Europe, Asia Pacific, and
the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, software
and services are the major segments of video analytics market by type. Lucintel
forecasts that software will remain the larger segment over the forecast period
due to rising adoption of video analytics software by the end-use industries,
as well as, software helps in detecting a wide range of events encompassing people,
vehicles, and static objects and analyzing videos from multiple sources.Within
this market, crowd management will remain the largest segment because video
analytics is widely used in crowd control, including estimating crowd sizes,
identifying the crowd's dominating patterns and statistics, and spotting
suspicious activity.
North America is
expected to witness highest growth over the forecast period due to large
presence of key industry players, as well as, rapid technological development
in the country supported by strong economic growth in the region.
Axis Communications,
Agent Video Intelligence, Honeywell International, Ibm Corporation, and Cisco
Systems are the major suppliers in the video analytics market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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