Kings Research™ presents this information in its report titled, “Video Analytics Market , Size & Industry Analysis, By Offering (Software, Services), By Deployment (On-Premises, Cloud-based), By Application (Incident Detection, Intrusion Management, People/Crowd Counting, Traffic Monitoring, Facial Recognition, Others) and Regional Analysis, 2024-2031"

Video Analytics Market was valued at USD 8.63 billion in 2023 and is expected to reach USD 43.70 billion by 2031, increasing at a 22.53% CAGR between 2024 and 2031. The scope of work comprises the solutions given by companies.

Browse Full Report Details @ https://www.kingsresearch.com/video-analytics-market-672 

List of Key Companies in Video Analytics Market

• Cisco Systems, Inc.
• Motorola Solutions, Inc. (Avigilon)
• Honeywell International Inc.
• Claro Enterprise Solutions, LLC
• Bosch Sicherheitssysteme GmbH
• Axis Communications AB
• AllGoVision Technologies Pvt. Ltd
• Genetec Inc.
• Gorilla Technology Group
• Eagle Eye Networks

Recent industry developments highlight the dynamic nature of the market. For instance, in April 2024, Axis Communications introduced AXIS Object Analytics, a suite of AI-driven tools designed to convert video data into actionable intelligence, addressing various security and operational challenges. Similarly, Eagle Eye Networks expanded its data center in Riyadh, Saudi Arabia, to enhance its video surveillance and AI capabilities.

Several factors are contributing to the rapid growth of the video analytics market:

• Increased Focus on Security and Safety
  The rise in criminal activities and the need for enhanced security measures have driven the demand for intelligent video surveillance systems. Governments and organizations are investing heavily in video analytics solutions to protect critical infrastructure, monitor public spaces, and secure commercial establishments.
• Growing Demand for Business Intelligence
  Beyond security, video analytics offers a wealth of opportunities for businesses to gain insights into customer behavior, operational efficiency, and market trends. Retailers, for example, can use video analytics to study customer movement patterns, analyze product placements, and improve marketing strategies. The ability to extract actionable data from video feeds gives businesses a competitive edge in a data-driven world.
• Technological Advancements
  Continuous advancements in AI, ML, and computer vision technologies are enhancing the capabilities of video analytics systems. The development of more accurate algorithms for facial recognition, object detection, and behavior analysis is making video analytics more reliable and effective. Additionally, the proliferation of 5G networks is expected to further boost the adoption of video analytics by enabling faster data processing and real-time analysis.

Regional Insights

The global video analytics market is witnessing strong growth across various regions, with North America and Europe leading the way. These regions have been early adopters of advanced surveillance technologies, driven by high demand for security in public and private sectors. In North America, the presence of key market players and robust investments in research and development have contributed to the market's expansion.

In Asia-Pacific, the market is expected to grow at a significant rate, fueled by the increasing adoption of smart city projects and rising investments in infrastructure development. Countries such as China, India, and Japan are leveraging video analytics to address challenges related to urbanization, public safety, and transportation.