As per Market Research Future Analysis, the Video Content Analytics Market was valued at USD 5.2 Billion in 2022 and is projected to grow from USD 6.6 Billion in 2023 to USD 27.8 Billion by 2030, with a CAGR of 22.91% during the forecast period. The growth is driven by increasing demand for video surveillance, advancements in AI and machine learning, and the need for enhanced customer experiences. The market is segmented by component type, deployment, and verticals, with software and cloud solutions leading the growth. North America holds the largest market share, followed by Asia-Pacific, which is expected to grow rapidly due to government initiatives and retail sector expansion.
Key trends driving the Video Content Analytics market include advancements in technology and increasing adoption across various sectors.
Major players include Axis Communications, Avigilon Corporation, Cisco Systems Inc., IBM Corporation, Honeywell International Inc., and Genetec Inc.
Increasing demand for video surveillance, advancements in AI and machine learning, the growth of IoT, the need for better customer experiences, and cost savings and operational efficiency are the factors driving growth of this market.
Figure 1: Video Content Analytics Market Size, 2023-2030 (USD Billion)
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
Video content analytics driven by video surveillance refers to the use of advanced software algorithms and machine learning techniques to analyze the content of video footage captured by surveillance cameras. This technology allows for the automated detection and tracking of objects, people, and events in real-time, enabling organizations to monitor and respond to potential security threats more effectively.
Object detection and tracking: Video content analytics can be used to automatically detect and track objects such as vehicles, people, and animals in real-time, enabling organizations to monitor activity and respond to potential security threats.
Facial recognition: Video content analytics can be used to identify and track individuals by analyzing their facial features, allowing for the creation of watchlists and the detection of potential security threats.
Crowd monitoring: Video content analytics can be used to monitor crowd behavior and detect potential safety concerns such as overcrowding, violence, or emergency situations.
License plate recognition: Video content analytics can be used to read and recognize license plates, allowing for the automated monitoring of vehicle traffic and the detection of potential security threats.
Behavior analysis: Video content analytics can be used to analyze individual and group behavior, detecting potential suspicious activities, and alerting security personnel to respond.
Overall, video content analytics driven by video surveillance has the potential to enhance security and safety in a variety of settings, including transportation hubs, retail stores, industrial facilities, and public spaces.
Based on component type, the Video Content Analytics market segmentation includes software, solutions, and services. The software segment accounted for the largest share of this market and is also anticipated to grow at a CAGR of 21.65% through the forecast period. This was attributed to the growing necessity to keep an eye on buildings or other facilities for potential physical threats or shady activity. In addition, the demand for video analytics software is fueled by aspects like accurate picture analysis, real-time processing, multiple visual inputs, and improved accuracy. Also, the end-use industries' increasing adoption of video analytics software is a major factor in this segment's substantial market share.
Organizations can use video analytics software to collect, process, and use insightfully studied data to make business choices. Further manual intervention and ongoing human supervision have been rendered unnecessary. Real-time notifications for emergencies are also provided by video analytics software.
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
On the other side, the services segment is also anticipated to grow with a CAGR of 24.81% over the forecast period. The market for video analytics is predicted to have the second-largest proportion in the service sector. This market includes managed services such as architecture guidance, system administration, and operations, reporting, performance testing and tuning, system monitoring, alerting, and others, along with professional services such as advisory services, implementation services, featured services, optimization services, training and support, technical services, and others.
February 2023: - Leading content analytics platform Chartbeat has acquired Tubular Labs, a social video measurement and intelligence software platform, and Lineup Systems, a software platform for managing advertising and subscription revenue. The deal's financial details weren't made public.
February 2023 - Dogetti is a brand-new meme currency project that wants to compete favorably with other well-established token initiatives by launching at the top of the meme coin market. A system for exchanging tokens from other projects for DETI tokens on the Dogetti platform, based on the ERC-20 standard, is one of its novelties.
Based on deployment type, the Video Content Analytics market segmentation includes On-Premises and On-Cloud. The cloud segment accounted for the largest share of this market of 60.3% in 2022 and is estimated to propel market growth at a CAGR of 24.6% over the forecast period. This segment's rapid market expansion may be attributed to its systems' flexibility, quick and simple access to real-time data on a worldwide scale, scalability to meet user demand, and technological advancement with the newest firewall. Throughout the projected period, the cloud segment is anticipated to increase at the fastest rate.
In the next few years, it's anticipated that cloud deployment will surpass on-premises deployment because it provides remote access to the application and service provider capabilities. Cloud-based video analytics solutions may function as a complementary technology paradigm by offering flexible network access to a common pool of reconfigurable computing resources at a low cost to the management.
Moreover, the on-premises category is also expected to grow considerably through the forecast period. Additionally, this tendency is anticipated to continue during the projected period for this category. This is attributable to the on-premise deployment model's popularity in sectors like banking, financial services & insurance (BFSI), education, and healthcare, which are susceptible to cyber-attacks or data breaches because of the sensitive information they handle.
Due to the internet cloud, just IP cameras are required to run, view, and record the videos. On their Laptop or mobile device, users can access any recorded footage from the past as well as the live view of cameras from anywhere. Their only requirement is an internet connection.
Based on vertical type, the Video Content Analytics market is segmented into BFSI, retail, healthcare, transportation and logistics, government, manufacturing, hospitality and entertainment, and others. The BFSI segment with a share of 35.6% in 2022 accounted for the largest share of this market and is also anticipated to grow at a CAGR of 23.8% through the forecast period. The BFSI industry has implemented video analytics for face & mask detection, bank security & surveillance, building surveillance, and tracking of customer behavior. But during the anticipated time, the healthcare sector is anticipated to grow the fastest. The main factors influencing the rapid expansion of this market are the expanding demands for hospital monitoring, preserving social distance, and maintaining hospital premises safety.
On the other side, the government segment is expected to grow at a CAGR of 21.5% through the forecast period. Every nation is extremely concerned with the government vertical, which encompasses border security and city surveillance. Controlling traffic on highways or motorways, tracking data from distant locations, managing crowd movement, detecting motion to identify over-speeding vehicles, facial recognition by law enforcement officials, and detecting camera tampering are all uses of video analytics in city surveillance. In terms of border security, it aids governments in protecting their frontiers from smuggling, terrorist attacks, and unlawful immigration.
Furthermore, facial recognition is becoming more popular in the video analytics industry due to the rising demand for security and non-security applications. By comparing facial characteristics from a video feed that has been saved in the database, facial recognition makes it possible to authenticate and identify people using their biometrics.
By region, this market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The North American region dominates this market with a significant share of 40.9% in 2023 and is also estimated to witness some more growth with a CAGR of 21.76% during the forecast period. The largest market share is anticipated to belong to North America during the forecast era. The demand for Video Content Analytics solutions in the United States and Canada is anticipated to rise because of the introduction of new technologies and the existence of significant players like IBM Corporation, Honeywell International Inc., Cisco Systems, Motorola Solutions, and others. End consumers in the United States and Canada are actively pursuing the adoption of video analytics combined with cutting-edge technologies.
On the other side, the Asia-Pacific is also projected to become the second-largest region across the globe at a CAGR of 26.77% from 2023 to 2030. Government-funded smart city initiatives and sophisticated monitoring initiatives for national security are just a few things that are expected to increase the use of video analytics in the area. In addition to the significant developments anticipated in the ICT sector over the coming years, the retail industry is driving market growth in nations like China and India.
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
The demand for video analytics is increasing across a variety of industries, including banking, financial services, retail, airports, manufacturing, and others, due to the automation of video tracking and management. Also, the market is anticipated to rise during the forecast period due to the demand for IP-based security cameras and an increase in concerns about the safety and security of people and their possessions. However, it is projected that the market's growth will be constrained by the rise in the frequency of false alerts during inclement weather or poor lighting conditions, as well as the high cost of initial installation.
Major players in the video content analytics market, including, Axis Communications, Avigilon Corporation, Cisco Systems Inc., IBM Corporation, Honeywell International Inc., Agent Video Intelligence Ltd., Genetec Inc., and others, are focusing on developing their business strategies.
The market's growth is predicted to be accelerated by the rising adoption of cloud computing and Video Content Analytics, as well as various strategic alliances and investments among regional businesses. Due primarily to the participation of numerous technology suppliers, the United States controls the majority of the market in the region and generates a sizeable portion of overall income.
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Middle East
Africa
Latin America
| Attribute/Metric | Details |
| Market Size 2022 | USD 5.2 Billion |
| Market Size 2023 | USD 6.6 Billion |
| Market Size 2030 | USD 27.8 Billion |
| Compound Annual Growth Rate (CAGR) | 22.91% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019 to 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Vertical Type, Deployment Type, Solution Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Axis Communications, Avigilon Corporation, Cisco Systems Inc., IBM Corporation, Honeywell International Inc., Agent Video Intelligence Ltd, Genetec Inc. |
| Key Market Opportunities | Increasing focus on better training in developing regions |
| Key Market Dynamics | Increasing demand for video surveillance Advancements in AI and machine learning The growth of IoT The need for better customer experiences Cost savings and operational efficiency |
Video Content Analytics Market Highlights:
Frequently Asked Questions (FAQ):
The market for Video Content Analytics was USD 5.2 Billion in 2022.
The analytics market is expected to be USD 27.8 Billion in 2030.
The growth rate for the Video Content Analytics market is 22.91% through the forecast period.
North America region held the largest market share in 2022.
The major players are dominating the market are Axis Communications, Avigilon Corporation, Cisco Systems Inc., IBM Corporation, Honeywell International Inc., Agent Video Intelligence Ltd, Genetec Inc. and others.
The future of VCA is bright. As the technology continues to develop, it will become more affordable and accessible to businesses of all sizes. This will lead to increased adoption of VCA across a wider range of industries. Additionally, the development of new artificial intelligence (AI) technologies will further improve the accuracy and reliability of VCA. This will make VCA even more valuable to businesses and organizations.
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Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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