In a recent published report, Kenneth Research has updated the market report for Video Analytics and Intelligent Video Surveillance Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Video Analytics and Intelligent Video Surveillance Market products.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
The Video Analytics & Intelligent Video Surveillance Market reached USD 28.13 Billion in 2018 and is expected to attain a market value of USD 103.83 Billion by the end of 2027 by registering a CAGR of 15.14% (2019-2027) across the globe. Rising concerns for safety and security of the public and for reducing the crime rates through time alerts about any unusual activities is projected to boost the market growth in the forthcoming years.
“The Final Report will cover the impact analysis of COVID-19 on this industry.
The demand for intelligent video surveillance is also expected to increase owing to the surplus features associated which include enhanced reliability, improved accuracy, and cost-effectiveness along with its rising application in business intelligence. The software is majorly used for gaining insights on various patterns with respect to traffic movement, consumer behavior, and frequency of footfall at a defined area.
Crowd monitoring and people count application segment of video analytics is projected to contribute majorly to the market growth over the forecast period. The application of video analytics in crowd management includes identification of dominant patterns of the crowd, crowd size estimation, and determines suspicious activities among the crowd.
Download Sample of This Strategic Report-
https://www.kennethresearch.com/sample-request-10210544
The market in the North America region is projected to attain the largest market share of video analytics & intelligent video surveillance owing to the high presence of key industry players in the region. Furthermore, organizations are also focused on enhancing safety and security by incorporating analytics.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
However, the Asia Pacific region is anticipated to emerge as the fastest-growing region over the forecast period. The growth is attributed to increasing economic growth in regional countries such as Japan, India, and Indonesia. The government of these countries is continuously investing in intelligent video surveillance market for enhancing their citizens’ safety. This, in turn, leads to market growth in the region.
Leading Companies
Honeywell International Inc., Bosch Security Systems Inc., Cisco, Siemens, and Thales group are some of the key players in the market.
Key Answers Captured in Report?
- Which geography would have better demand for products/services?
- What are the strategies adopted by big players in the regional market?
- Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
- What is the current & expected market size in the next five years?
- What is the market feasibility for long term investment?
- What opportunity the country would offer for existing and new players in the market?
- What is the risk involved for suppliers in the geography?
- What factors would drive the demand for the product/service in the near future?
- What is the impact analysis of various factors in market growth?
About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations, and organizations with the aim of helping them to take prominent decisions. Our research library comprises more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both the macro level as well as micro-level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis of various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keeps a track of the international and domestic market for any economic changes impacting the products’ demand, growth, and opportunities for new and existing players.
Contact Us
Kenneth Research
Email: Sales@kennethresearch.com
Phone: +1 313 462 0609
