The global video analytics market is projected to rise at an exponential CAGR of 22.67% during the forecast period, 2018 – 2026. Fortune Business Insights™ in a report, titled “Video Analytics Market, Size, Share And Global Trend By Component (Solutions, Services), By Application (Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition, Motion Detection, And Others), End-User (Bfsi, City, Critical Infrastructure, Education, Government, Retail, Transportation, And Others) And Geography Forecast Till 2026.” published the above information.
The demand for actionable insights from video data is increasing, which is enabling growth in the market. As per the report, the global market was valued at US$ 2,488.5 Mn and is anticipated to reach US$ 11,965.6 Mn by 2026. Video analytics systems track video frames of cars, individuals, and other items to offer better surveillance and safety solutions. This will further positively impact the video analytics market growth. With the emergence of advanced technology, intelligent and smart video analytics services offer reliable and precise monitoring and can capture incidents that get unnoticed by humans.
Video analytics software is used in different areas such as smart city, traffic management, smart parking, and others. Video analytics tracking is used to keep an eye on different cameras, analyze the situation, and sends a notification to the concerned authorities in case of suspicious activity. The increasing adoption of video analytics platform across different sectors is likely to surge the video analytics market size.
Some of the key companies profiled in the report are:
Intelligent Security Systems
The report provides qualitative and quantitative insights into the video analytics market analysis of market size & growth rate for all possible segments in the market. The market is segmented by component, application, end-user, and geography.
Based on the component, the market is divided into solutions and services. The service segment of the global market is classified into professional services and managed services.
By professional services, the market is divided into consulting, training and education, and support and maintenance.
Based on the applications, the market is segmented into crowd management, facial recognition, intrusion detection, license plate recognition, motion detection, and others.
Geographically, the market trend has been analyzed across five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
Along with this, the report on market growth and development provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report on the market are the price trend analysis, recent industry developments such as mergers & acquisitions, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape and company profiles.
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