The global video analytics market size was exhibited at USD 7.9 billion in 2022 and is projected to hit around USD 66.54 billion by 2032, growing at a CAGR of 23.75% during the forecast period 2023 to 2032.
Key Pointers:
The limitations of manual video analysis is one of the primary factors driving the market growth. Moreover, the reduced cost of video surveillance equipment and long-term ROI are driving the adoption of video analytics solutions.
Video Analytics Market Report Scope
Report Coverage |
Details |
Market Size in 2023 |
USD 9.78 Billion |
Market Size by 2032 |
USD 66.54 Billion |
Growth Rate From 2023 to 2032 |
CAGR of 23.75% |
Base Year |
2022 |
Forecast Period |
2023 to 2032 |
Segments Covered |
By Type, By Deployment, By Application, and By End-Use |
Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
Key Companies Profiled |
Avigilon Corporation, Axis Communications AB, Cisco Systems, Inc., Honeywell International Inc., Agent Video Intelligence Ltd., AllGoVision Technologies Pvt. Ltd, Earth Water Limited, Genetec Inc., Intellivision, Intuvision Inc. and Others. |
COVID-19 Impact
The impact of COVID-19 on the video analytics market has affected large and small enterprises across various industry verticals.
Video Analytics Market Dynamics
Drivers: Limitations of manual video analysis
There are many disadvantages associated with the manual analysis of surveillance videos. Labor costs have been deterring the utilization of humans for the manual analysis of surveillance videos. Video analytics helps reduce labor costs by either increasing the surveillance capacity of monitoring individuals or re-deploying employees to perform non-monitoring duties in extreme cases of cost restructuring, removing the need for employees entirely. In the case of human employees, large amounts of video footage can prove to be a grave obstacle for quick and intelligent video analysis, and swift incident responses. Along with video analytics, the analysis of very large amounts of video footage and data can be done quickly, thus reducing the need for employees. Human fatigue is another issue that can be overcome with the help of video analytics solutions. Unlike humans, who miss out on over 90% of video activities after 20 minutes of continuous surveillance video monitoring, the video analytics software keeps up the efficiency level, thus greatly reducing the number of false positives. Human integrity also plays during manual analysis, whereas video analytics software achieves operational compliance by adhering to defined rules and response procedures.
Restraints: Government regulations related to CCTV surveillance
The vast applications of video analytics have encouraged governments, organizations, and enterprises to embed video analytics with their video surveillance systems. These systems capture and analyze video footage 24x7. It is used for different purposes, such as facial recognition, people counting, and ANPR. Despite its advantages, many questions have been raised over citizens' privacy. This has resulted in stringent regulations to control anti-social activities; countries such as the US and UK are imposing the use of video analytics in selected areas only with limited functionalities. For instance, in October 2021, the European Parliament passed a nonbinding resolution that bans the police use of facial recognition in public places and the creation of private facial recognition databases. In Oakland and Somerville, similar bans are expected to be applied to facial recognition and other remote biometric surveillance systems. General Data Protection Regulation (GDPR) has also given guidelines about the collected data via CCTV video footage. Organizations and businesses cannot install CCTV without a valid reason as per the instructions of the GDPR. Hence, stringent regulations are expected to hinder the growth of the global video analytics market.
Opportunities: Predictive information using video analytics
Predictive analytics is used to make predictions about future events. It uses statistics, modeling, data mining, ML, and AI techniques. The video system captures critical and valuable signals, which include unstructured streams, such as video, audio, and social media data containing key customer behavioral attributes. It can also capture atmospheric data as surveillance cameras are placed in open areas. All these parameters can be combined and used to generate predictions, but the prediction can be difficult. Storage requirements, time consumption, and review of each video clip are some factors that might challenge the generation of predictive information. Hence, the generation of predictive information through video analytics can act as an opportunity for the global video analytics market.
Challenges: Interoperability complexities and support for older equipment of surveillance systems
The interoperability of surveillance systems is one of the major issues that impact the growth of the video analytics market and user experience. It also makes the analysis of a large volume of CCTV difficult and time-consuming. The major reason for interoperability is the large number of vendors operating in the market. All vendors have their preferred video format for processing and unique encrypted casing. The lack of standardization makes integrating, viewing, and exchanging data from different systems difficult. The need to standardize video analytics is very important as many new futures are being introduced to enhance the system's capabilities in representing the properties of objects, events, and scene contents. Hence, the interoperability of video surveillance systems is expected to pose challenges for vendors in this market.
Some of the prominent players in the Video Analytics Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Video Analytics market.
By Type
By Deployment
By Application
By End-Use
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Video Analytics Market
5.1. COVID-19 Landscape: Video Analytics Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Video Analytics Market, By Type
8.1. Video Analytics Market, by Type, 2023-2032
8.1.1. Software
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Services
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Video Analytics Market, By Deployment
9.1. Video Analytics Market, by Deployment, 2023-2032
9.1.1. Cloud
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. On-premise
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Video Analytics Market, By Application
10.1. Video Analytics Market, by Application, 2023-2032
10.1.1. Crowd Management
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Facial Recognition
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Intrusion Detection
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. License Plate Recognition
10.1.4.1. Market Revenue and Forecast (2020-2032)
10.1.5. Motion Detection
10.1.5.1. Market Revenue and Forecast (2020-2032)
10.1.6. Others
10.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Video Analytics Market, By End-Use
11.1. Video Analytics Market, by End-Use, 2023-2032
11.1.1. BFSI
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. City
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Critical Infrastructure
11.1.3.1. Market Revenue and Forecast (2020-2032)
11.1.4. Education
11.1.4.1. Market Revenue and Forecast (2020-2032)
11.1.5. Government
11.1.5.1. Market Revenue and Forecast (2020-2032)
11.1.5. Retail
11.1.5.1. Market Revenue and Forecast (2020-2032)
11.1.5. Transportation
11.1.5.1. Market Revenue and Forecast (2020-2032)
11.1.5. Others
11.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Video Analytics Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Type (2020-2032)
12.1.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.1.3. Market Revenue and Forecast, by Application (2020-2032)
12.1.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Type (2020-2032)
12.1.5.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.1.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.1.5.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Type (2020-2032)
12.1.6.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.1.6.3. Market Revenue and Forecast, by Application (2020-2032)
12.1.6.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Type (2020-2032)
12.2.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.2.3. Market Revenue and Forecast, by Application (2020-2032)
12.2.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Type (2020-2032)
12.2.5.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.2.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.2.5.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Type (2020-2032)
12.2.6.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.2.6.3. Market Revenue and Forecast, by Application (2020-2032)
12.2.6.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Type (2020-2032)
12.2.7.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.2.7.3. Market Revenue and Forecast, by Application (2020-2032)
12.2.7.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Type (2020-2032)
12.2.8.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.2.8.3. Market Revenue and Forecast, by Application (2020-2032)
12.2.8.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Type (2020-2032)
12.3.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.3.3. Market Revenue and Forecast, by Application (2020-2032)
12.3.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Type (2020-2032)
12.3.5.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.3.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.3.5.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Type (2020-2032)
12.3.6.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.3.6.3. Market Revenue and Forecast, by Application (2020-2032)
12.3.6.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Type (2020-2032)
12.3.7.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.3.7.3. Market Revenue and Forecast, by Application (2020-2032)
12.3.7.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Type (2020-2032)
12.3.8.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.3.8.3. Market Revenue and Forecast, by Application (2020-2032)
12.3.8.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Type (2020-2032)
12.4.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.4.3. Market Revenue and Forecast, by Application (2020-2032)
12.4.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Type (2020-2032)
12.4.5.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.4.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.4.5.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Type (2020-2032)
12.4.6.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.4.6.3. Market Revenue and Forecast, by Application (2020-2032)
12.4.6.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Type (2020-2032)
12.4.7.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.4.7.3. Market Revenue and Forecast, by Application (2020-2032)
12.4.7.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Type (2020-2032)
12.4.8.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.4.8.3. Market Revenue and Forecast, by Application (2020-2032)
12.4.8.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Type (2020-2032)
12.5.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.5.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Type (2020-2032)
12.5.5.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.5.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.5.5.4. Market Revenue and Forecast, by End-Use (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Type (2020-2032)
12.5.6.2. Market Revenue and Forecast, by Deployment (2020-2032)
12.5.6.3. Market Revenue and Forecast, by Application (2020-2032)
12.5.6.4. Market Revenue and Forecast, by End-Use (2020-2032)
Chapter 13. Company Profiles
13.1. Avigilon Corporation (Canada)
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Axis Communications AB (Sweden)
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Cisco Systems, Inc. (U.S.)
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Honeywell International Inc. (U.S.)
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Agent Video Intelligence Ltd. (U.S.)
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. AllGoVision Technologies Pvt. Ltd (India)
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Earth Water Limited (U.S.)
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Genetec Inc., (Canada)
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Intellivision (U.S.)
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Intuvision Inc., (U.S.)
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms