In a recently published report, Video Analytics Market report for till 2030. The 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 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 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 Analysis and U.S. Census Bureau mention 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) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst 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 Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Video Analytics Market is valued at approximately USD 4.21 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 30 % over the forecast period 2019-2026. Video analytics is a computerized processing and automatic analysis of the video content generated, collected, or monitored during video surveillance. A huge volume of video data is formed through video surveillance in industries, city surveillance, and through social media and sites, and it also requires lots of space for storage. Using video analytics automates video surveillance process by bringing high-end benefits to the users with reduced cost and efficient service delivery. The Video Analytics market is on the surging trend considering the global scenario.
The Video Analytics market is primarily driven owing to surge in demand for IP-based security systems, rise in concern related to public safety & security, falling prices of video surveillance equipment along with surge in volume of unstructured video data on the global scenario. Also, with the number of surveillance cameras and the worth of video analytics are only projected to grow. As the number of video surveillance cameras shipped globally in 2006 was 10 million and it crossed over 100 million in 2016 and 130 million in 2018.
Furthermore, the increasing demand for IP cameras and video surveillance and storage for the safety of the public is increasing. As the number of crimes and attacks are increasing across the world. This propels the commercial as well as residentials sector and government to install CCTVs in most of the places for the security and safety of the population. The video analytics aids in determining the culprit of the attack. Hence fueling the market for Video analytics during the forecast period. However, high cost impedes the growth of the market over the forecast period of 2020-2026. Although, adoption of the smart technology owing to the penetration of IoT and Machine Learning these video analytics have been transformed into Intelligent Video Analytics which presents the market with a lucrative growth opportunity.
The regional analysis of global Video Analytics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing surveillance data and need for intelligent video analytics in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as adoption of video surveillance across various enterprises and the need for storage facilities along with video analytics such as motion detection, object detection and various tools would create lucrative growth prospects for the Video Analytics market across Asia-Pacific region.
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Major market player included in this report are:
Axis Communications AB
Lenovo Group (Avigilon Corporation)
Cisco Systems, Inc
IBM Corporation.
Aventura Technologies Inc
Genetec Inc
Honeywell International Inc
Agent Video Intelligence Ltd
Objectvideo Labs LLC
IntuVision Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Deployment Type:
On-premise
Cloud
By End-User:
Aerospace and Defense
Healthcare
Retail
Transportation
BFSI
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Video Analytics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Video Analytics Market, by Region, 2018-2026 (USD Billion)
1.2.2. Video Analytics Market, by Deployment Type, 2018-2026 (USD Billion)
1.2.3. Video Analytics Market, by End-User, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Video Analytics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Video Analytics Market Dynamics
3.1. Video Analytics Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Video Analytics Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Video Analytics Market, by Deployment Type
5.1. Market Snapshot
5.2. Global Video Analytics Market by Deployment Type, Performance – Potential Analysis
5.3. Global Video Analytics Market Estimates & Forecasts by Deployment Type 2016-2026 (USD Billion)
5.4. Video Analytics Market, Sub Segment Analysis
5.4.1. On-premise
5.4.2. Cloud
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