1. Market Research
  2. > Advanced IT Market Trends
Video Analytics Market - Growth, Trends, Forecasts (2020 - 2025)

Video Analytics Market - Growth, Trends, Forecasts (2020 - 2025)

  • January 2021
  • 296 pages
  • ID: 6000949
  • Format: PDF
  • Mordor Intelligence LLP
Up to $750 off Until Mar 10th 2021

Summary

Table of Contents

Search Inside

The Global Video Analytics Market was valued at USD 1528.1 million in 2019, and it is expected to reach USD 4142.7 million by 2025, registering a CAGR of 24.5% during the period of 2020-2025. Analytics has enabled various end-users in the usage of specific data insights into actionable intelligence for numerous functions. The ideas could be used in monitoring the queues in retail outlets and hospitals, generate heat maps, etc. The surveillance and retail industries are expected to drive the market positively during the forecast period.

- The video-analytics are being deployed in the city, retail, vehicle, and worksite settings and used to acquire insights for decision making. The video surveillance sector uses it for analyzing threats, recognizing, mitigating, and monitoring purposes. China is investing heavily in the capabilities of facial recognition. According to Tsinghua University, China’s market size is expected to reach CNY 34 billion in biometric recognition technologies.
- Video analytics is being deployed to produce customer movement heatmaps and store planning and is also widely adopted to tackle organized retail crime. Inpixon, a company that engages in indoor positioning and data analytics, collaborated with the National Anti-Organized Retail Crime Association (NAORCA Worldwide) to fight against retail crime.
- The retail industry is increasingly adopting video analytics and emerging as one of the prominent markets. The growing retail market is also driving the demand; according to the US Census Bureau, the whole retail and food services sales in the US during the year 2018 stood at USD 6.02 trillion.
- The growth in the development of smart cities is one of the significant reasons for driving the market. Due to the number of smart cities growth, the demand for video surveillance and connected devices across city buildings is expected to increase. According to Consumer Technology Association, spending on smart cities worldwide is expected to reach USD 34.35 billion by 2020.
- As per information provided by Tencent, the number of surveillance cameras installed in China during the year 2017 was valued at 176 million units, and it is expected to reach 626 million units by 2021. Besides, South Korea’s Ministry of the Interior and Safety stated that the number of CCTV cameras deployed in public places during fiscal 2018 stood at 1,032,879 units. Such developments are spearheading the demand in the region.
- Moreover, government surveillance is rising globally, owing to the COVID-19 outbreak. From Israel to South Korea to China, governments worldwide are using technology to track the COVID-19 outbreak as they race to stem its spread. They use a combination of location data, video camera footage, and credit card information, to track COVID-19 in their countries. It is increasingly essential for complex investigative procedures, particularly in coronavirus emergency, to analyze mass video data in real-time situation awareness rapidly.

Key Market Trends
Retail Industry is expected to Hold Major Share

- Nowadays, in retail stores, a lot of information is being captured in the form of videos used for loss prevention, theft analysis, and post-analysis when a mishap occurs. Real-time video analytics can unravel various insights from videos captured in stores and help in improving store operations and customer experience.
- The retail sector is focusing on deploying innovative solutions to increase security and customer experience as well, for which a few of them are implementing facial recognition technology. From security to advertisements, a multitude of applications of face recognition is being used in retail. From sending customized ads to identified shoppers to identify gender, age, customer count, and capturing glance time on products, the applications are endless.
- The global ad spending is increasing at a steady pace, and in 2019 it stood at USD 563.02 billion, according to GroupM. A significant share of the spending is on gaining consumer insights to target the consumer segment. This is where video analytics finds a prime opportunity, where video analytics can be used for heat mapping, customer services, and reduce retail shrinkage. The growth opportunities in this space are ample for the technology’s growth.
- For instance, the US prominent retailer Walmart has affirmed that it utilizes image recognition cameras at registration to identify theft. Having used the innovation as of now in more than 1,000 stores, the organization has also invested in ensuring its customers and associates’ safety. Companies, such as Identiv Inc., have a dedicated product portfolio known as 3VR Retail Optimization Analytics that engages in Demographics, Queue Line, People Counting, and Dwell Time Analytics.
- In 2019, Kroger, one of the largest retailers, partnered with Microsoft to transform its stores and operations to personalize the shopping experience and improve associate productivity. The company adopted solutions, like Microsoft Azure-powered video analytics, to help store associates recognize and address out-of-stocks to ensure customers can locate items on their list.
- The implementation of checkout-free stores is gaining traction driven by an array of cameras and sensors, tracking customers’ movements, and items taken from the shelves and processing the data using computer vision and machine learning to determine whom to bill for what. In November 2019, Amazon Go announced its intent to expand as the checkout-free shopping is starting to catch on across the retail landscape.

North America is expected to hold major share

- North America is one of the most significant regions for the video analytics market. The region, especially the United States, is one of the major innovators and investors of the technology. Apart from that, high adoption among end-user industries and regional government involvement in video surveillance infrastructure development further fuels the adoption of video analytics solutions in North America.
- The region has high adoption of CCTV cameras in various surveillance settings, from street corners to university campuses and even private homes. Most of these sites have multiple cameras, each generating a high volume of footage. In the United States alone, there are about more than 70 million surveillance cameras installed, which works out to 4.6 people per installed camera. The country has a high level of penetration of surveillance cameras, with the adoption is most common among private-sector retail and commercial establishments, such as hotels, restaurants, and office complexes.
- Post 9/11, the massive advancement in IP cameras and their implementation across the region also developed the space for the market studied growth in the last decade. Most regional municipal law enforcement is leveraging video analytics for real-time response and post-event investigation, and cities are also using the data for urban planning and traffic optimization. Many of the American cities have been aggressive in putting in surveillance infrastructure, including Detroit, which recently installed cameras to monitor public housing residents. After a man was fatally shot in St. Paul in 2019, the police department tested out new video technology.
- Police in New York, Atlanta, and New Orleans now use video analytics-enabled cameras to improve investigations. Baltimore police department has also conducted secret aerial surveillance of residents for several years. The regional market is also witnessing the integration of deep learning, AI, and neural networking into the product offering, increasing accuracy, and lowering overall solution cost.
- The region is also witnessing an increasing adoption of smart home security cameras, which may further expand the scope of the market studied. Hence, AI-based video analytics are further enhancing efficiencies, offering many non-security-related insights for businesses, especially in smart city applications. For instance, Amazon uses computer vision and deep learning as part of an experiment in a test store in Seattle.

Competitive Landscape
The market is quite fragmented and moves towards consolidated market format, owing to the presence of large vendors who can spend on the R & D to improve the offerings. The companies are including Artificial Intelligence and machine learning to enhance their offerings. The major companies include Axis Communications AB, Avigilon Corporation (Motorola Solutions), Cisco Systems Inc., IBM Corporation, and Aventura Technologies Inc. Some of the key developments in the market are:
- March 2020 - Motorola Solutions introduced the newest addition to its video security and analytics portfolio, Avigilon Control Center (ACC) 7.6. ACC 7.6 is the company’s latest video management software release, enabling various enterprise customers to efficiently monitor their facilities through new AI-powered facial recognition features and analytics.
- October 2019 - Canon and Agent Video Intelligence formed a partnership to launch the first AI-powered cloud-based video analytics service in Singapore. The collaboration with Agent Vi will enhance Canon’s suite of visual network solutions, offering businesses seamless connectivity with maximum productivity and reduced cost.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off

$4250

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Aviation Analytics Market by Component Deployment, Application, End-User, Business Function, Region - Global Forecast to 2025

  • $ 4950
  • December 2020
  • 224 pages

The aviation analytics market is projected to grow from USD 1.7 billion in 2020 to USD 3.0 billion by 2025, at a CAGR of 11.5% from 2020 to 2025. The increasing modernization of aircraft fleet to increase ...

  • World
  • APAC
  • Data Analytics
  • Aviation
  • Industry analysis
  • Aircraft Fleet Size
  • Air Passenger Traffic

ref:plp2020

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on