Video Analytics Market
The Global Video Analytics Market size is estimated to be USD 4.55 billion in 2019 and is predicted to reach USD 37.72 billion by 2030 with a CAGR of 21.2% from 2020-2030.
Video Analytics is an automated process of video processing which is collected during the surveillance. There is lot of data produced during the surveillance, social media, websites and it requires lot of space for storage. Video analytics automate the overall process and deliver better and efficient results in short time, better service with reduced cost.
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Top Companies: AllGoVision Technologies Pvt. Ltd., Axis Communications AB, IBM Corporation, Verint Systems, Inc., Cisco Systems, Inc., PureTech Systems, Inc., Aventura Technologies, Inc., Intellivision, Honeywell International, Inc and others.
The global video analytics market share is analyzed on the basis of type, deployment, applications, industry vertical, and geography. On the basis of type, the market is segmented into solution and services. Based on deployment, the market is divided into on-premise and cloud. On the basis of application, the market is segmented into Incident Detection, Intrusion Management, People/Crowd Counting, Traffic Monitoring, Automatic Number Plate Recognition, Facial Recognition and Others. On the basis of industry vertical, the market is segmented into BFSI, City Surveillance, Critical Infrastructure, Education, Hospitality and Entertainment, Manufacturing, Defense and Border Security, Retail and Consumer Goods, Traffic Management, Transportation, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America represents the developed markets are holds the largest market share over the forecast period. Furthermore, increased demand of advance infrastructure, coupled with increase in safety and security concerns coupled with wide applications are further expected to support the growth of video analytics market. Asia Pacific is expected to be the fastest developing region with constant increase in market share owing to the increased adoption of advanced technology, increased demand of automation and increase in surveillance activities in the developing region is further expected to expand the market.
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