The global video analytics market size was US$ 5,011 million in 2021. The global video analytics market is forecast to grow to US$ 31,001.0 million by 2030 by growing at a compound annual growth rate (CAGR) of 22.1% during the forecast period from 2022 to 2030.

Video analytics is the automated processing through which video footage is analyzed. The footage is generated, gathered, or monitored during video surveillance by a computer. Through video analysis, the software recognizes events, patterns, and characteristics of people or objects captured in the data. Video surveillance in industries, city surveillance, and social media produce significant amounts of unstructured video data.

Factors Influencing the Market

Growing initiatives to establish smart cities are likely to propel the growth of the global video analytics market. In addition, rising concerns over safety and security and increasing demand for optimizing traffic patterns are likely to benefit the overall video analytics market.
The growing demand for corporate intelligence across a variety of industries, such as interior design solutions and the construction industry, will propel the video analytics market forward.
Furthermore, the video analytics market is predicted to rise faster as the government invests more in video surveillance and adopts new technology.
The growing number of road accidents will accelerate the video analytics market growth during the study period.
The rising cases of cybercrime and data theft may limit the growth of the global video analytics market during the forecast period.
COVID-19 Impact Analysis

COVID 19's global spread has caused supply chain disruptions across the world. It also hampered the video analytics business during the initial phase. However, COVID-19 has had a favorable impact on the video analytics market due to increased video content.

Regional Analysis

Asia-Pacific region is forecast to hold dominance in the global video analytics market. The growth of the market is attributed to the growing government initiatives to establish smart infrastructure. In addition, growing concerns over traffic and the rising urban population will drive the regional market forward. In addition, increasing cases of accidents are likely to boost the growth of the Asia-Pacific video analytics market during the forecast period.

Competitors in the Market

Allgovision Technologies Pvt. Ltd.
Aventura Technologies, Inc.
Axis Communications Ab
Cisco Systems, Inc.
Honeywell International Inc.
Intellivision Technologies Corp.
International Business Machines Corporation
Puretech Systems Inc.
Qognify
Verint Systems Inc.
Other Prominent Players
Market Segmentation

The global video analytics market segmentation focuses on Application, Organization, Component, Deployment, and Region.

By Application

Retail
Critical Infrastructure
Airports
Public Transport
Police
Defense and Security
Smart cities
Hospitality
Healthcare
BFSI
Transportation & Logistics
Manufacturing
Mining
Others
By Organization Size

Small & Medium Enterprises
Large Enterprises
By Component

Software
Services
By Deployment

On-premise
Cloud