Video Analytics Market By Solution (Software, Hardware, Services), By Application (Security and Surveillance, Business Intelligence, Urban and City Planning), By Deployment Mode (Cloud-Based, On-Premises), By End-Use Industry (Retail, BFSI, Government and Public Sector, Healthcare, Manufacturing), and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Video Analytics Market was valued at USD 10.4 billion in 2023 and will surpass USD 19.2 billion by 2030; growing at a CAGR of 9.1% during 2024 - 2030.

The video analytics market has experienced significant growth over the past few years, driven by advancements in artificial intelligence (AI) and machine learning (ML). Video analytics solutions enable the automatic extraction of actionable insights from video data, offering capabilities like object detection, facial recognition, motion tracking, and anomaly detection. As businesses and governments alike look to improve security, efficiency, and decision-making, the demand for video analytics technologies has risen exponentially. These solutions are becoming increasingly integrated into various industries such as security and surveillance, retail, healthcare, and more, paving the way for a smarter, data-driven future.

The video analytics market is segmented into several key areas including solution types (software, hardware, and services), applications, deployment modes, and end-use industries. While the market is growing rapidly across all these segments, some areas are seeing particularly strong demand. The software and services segments, in particular, are expected to see the highest growth, as more organizations look to adopt cloud-based solutions that offer scalability and flexibility. Additionally, applications in security and surveillance are leading the way, as organizations prioritize safety and operational efficiency.

Software Segment Is Largest Owing to Demand for Scalable Solutions

The software sub-segment within the video analytics market is the largest, primarily driven by the growing adoption of AI-powered solutions that can process and analyze vast amounts of video data. This segment includes a range of products designed for different applications, from real-time surveillance and security monitoring to business intelligence and performance analytics. The widespread demand for automated video analysis, combined with the increasing reliance on AI technologies, has made software solutions essential for organizations looking to derive actionable insights from video data.

As businesses and public sector entities continue to prioritize data security and operational efficiency, the demand for software solutions that provide real-time processing, cloud compatibility, and advanced analytics is rising. In particular, cloud-based video analytics software is becoming more popular as it allows organizations to scale their solutions easily without significant infrastructure investment. The market's transition toward AI-driven, cloud-enabled software is positioning this sub-segment for continued dominance in the coming years.

Security and Surveillance Application Is Fastest Growing Due to Rising Security Concerns

The security and surveillance application segment within the video analytics market is the fastest growing, reflecting a global surge in demand for safety solutions across various industries. Video analytics in security enables organizations to monitor and protect assets more effectively by automatically detecting and responding to threats in real time. From government installations and corporate offices to public spaces, the demand for video surveillance powered by analytics is on the rise, driven by increased security threats and the growing need for surveillance in urban environments.

The adoption of AI and deep learning technologies is transforming the security landscape, allowing video analytics systems to not only identify suspicious activity but also predict potential risks. Governments, businesses, and law enforcement agencies are increasingly investing in these technologies to improve public safety, making security and surveillance applications the fastest-growing area in the video analytics market. Additionally, as video analytics systems become more sophisticated, they are capable of integrating with other security technologies like access control and alarm systems, further boosting their demand.

Cloud-Based Deployment Mode Is Dominating the Market

Among the different deployment modes for video analytics, cloud-based solutions are experiencing the most rapid growth. Cloud-based video analytics offer several advantages over on-premises solutions, including scalability, ease of deployment, and reduced costs. These advantages have made cloud-based solutions particularly attractive for organizations with large-scale or geographically dispersed operations that require real-time access to video feeds and analytics.

Cloud-based systems also provide the flexibility to analyze video data from multiple locations, which is especially important for industries like retail and transportation. As more companies adopt cloud infrastructure, the video analytics market is witnessing an accelerated shift toward cloud-based deployment models. The cloud allows for seamless software updates, integration with other cloud services, and better data storage management, all of which make it the preferred choice for organizations looking for cost-effective, scalable video analytics solutions.

Retail End-Use Industry Is Largest Due to Increased Adoption of Smart Surveillance

In terms of end-use industries, the retail segment is the largest, driven by the increasing need for smart surveillance systems in stores, malls, and other retail spaces. Video analytics in the retail sector helps businesses monitor customer behavior, improve store layouts, and optimize inventory management. Additionally, it enhances security by providing real-time surveillance capabilities that can detect shoplifting, unauthorized access, and other suspicious activities.

The growing emphasis on enhancing customer experience and operational efficiency in the retail sector is propelling the adoption of video analytics solutions. Retailers are also leveraging analytics to improve loss prevention strategies and gather valuable insights into consumer behavior, further driving the market. As the retail landscape becomes increasingly competitive, businesses are turning to video analytics to improve customer service and reduce operational costs, making it a key segment in the video analytics market.

North America Is the Largest Region Owing to High Adoption in Security and Retail

North America is the largest region in the video analytics market, primarily due to the early adoption of advanced technologies and significant investments in security infrastructure. The United States, in particular, has been at the forefront of adopting video surveillance systems integrated with AI and video analytics for both private and public sector applications. With growing concerns about security and the increasing need for smart city initiatives, North America has seen a rapid expansion in the use of video analytics across various sectors, including government, retail, and healthcare.

Additionally, the presence of major technology companies and cloud infrastructure providers in North America has contributed to the region's dominance in the market. The U.S. government's investment in public safety initiatives and the continuous development of smart cities further accelerate the demand for video analytics solutions. As such, North America is expected to continue leading the market, with increasing applications in surveillance, business intelligence, and urban planning.

Leading Companies and Competitive Landscape

The competitive landscape of the video analytics market is highly fragmented, with numerous players vying for market share across various sub-segments. Leading companies in this market include IBM Corporation, Honeywell International Inc., Cisco Systems, Inc., BriefCam, and Verint Systems Inc. These companies are focusing on expanding their product offerings, forming strategic partnerships, and developing innovative solutions to meet the evolving demands of the market.

To maintain their competitive edge, industry leaders are investing in AI, machine learning, and cloud technologies to enhance the capabilities of their video analytics solutions. Additionally, there is a growing trend toward mergers and acquisitions as companies look to broaden their portfolios and expand their reach in global markets. As demand for video analytics solutions continues to rise, the competitive landscape will likely become even more dynamic, with companies increasingly focusing on differentiation through technological innovation and customer-centric solutions.

List of Leading Companies:

• IBM Corporation
• Cisco Systems, Inc.
• Honeywell International, Inc.
• Axis Communications AB
• Avigilon Corporation (Motorola Solutions)
• Hikvision Digital Technology Co., Ltd.
• Dahua Technology Co., Ltd.
• Genetec Inc.
• NEC Corporation
• Verint Systems Inc.
• Agent Vi (briefcam subsidiary)
• AllGoVision Technologies
• IntelliVision (Nortek Security & Control)
• Qognify
• BriefCam (Canon Group)

Recent Developments:

• In October 2024, Cisco Systems launched a new AI-powered video analytics platform for smart cities.
• In September 2024, Hikvision introduced advanced facial recognition analytics in its latest camera systems.
• In August 2024, Avigilon announced the acquisition of a video analytics startup to enhance its AI capabilities.
• In July 2024, IBM unveiled a cloud-based real-time video analytics solution targeting the retail sector.
• In June 2024, Dahua Technology released a regulatory-compliant video monitoring solution for healthcare facilities.

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