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Video analytics market to touch
almost 15 billion dollars by 2026
Northbrook, Il (USA)
A video analytics market report with Covid-19 impact,
and including a global forecast to 2026 has been pub-
lished by Marketsandmarkets, and the analysis expects
this sector to grow at a compounded annual growth
rate (CAGR) of 20.4 percent during the forecast period,
to reach 14.9 billion dollars by 2026, to be compared
with 5.9 billion dollars revenue in 2021.
There are a myriad of factors that
the researchers expect to drive
the growth of the market, which
include increasing investments and
focus of governing institutions on
public safety, the need to utilise
and examine unstructured video
surveillance data in real time, a
significant drop in crime rates due
to surveillance cameras, a growing
need among enterprises to leverage
BI and actionable insights for
advanced operations, limitation of
manual video analysis, government
initiatives in adopting emerging
technologies to enhance the public
safety infrastructure, reduced cost
of video surveillance equipment
and long term RoI and demand
for enhanced video surveillance.
Strong growth in edge-
based analytics
Based on the type, the market is
segmented into two categories edge
based and server based video ana-
lytics. It is the edge-based segment
that is expected to grow at a higher
CAGR during the forecast period.
Edge-based video analytics evolves
with the emergence of new power-
ful in-built chipsets in cameras that
offer higher computational capa-
bilities at the edge. Such systems
inform operators on a wide range
of real-time video or audio events
requiring attention and providing
more sophisticated analytics, such
as queue management and heat
maps that offer new opportunities
for business and traffic intelligence.
Advancements in deep learn-
ing and its integration with the
edge system are also expected to
drive the adoption in the coming
years. Deep learning takes ML
to another level based on neural
network principles that imperson-
ate the complexity of the human
brain. Earlier, the functionality was
mainly available at server-side pro-
cesses, which would require videos
to be decompressed and processed.
Edge-based devices need external
inputs to learn from before proving
as a useful tool to recognise known
objects and behaviours.
On-premises vs
cloud analytics
The video analytics market is seg-
mented by deployment type into
on-premises and cloud segment.
The on-premises segment accounts
for a higher share of the video ana-
lytics market during the forecast
period according to the analysis.
This approach is mostly adopted
for applications that involve
the processing of sensitive and
confidential data volumes. These
data volumes include internal and
external surveillance footage and
video feeds of business operations
that contain confidential informa-
tion and crucial insights. In the
on-premises deployment, compa-
nies have to install the required
hardware parts, such as OS, storage
devices, servers, cameras, and
routers, as well as video analytics
software. Several large organisa-
tions are deploying on-premises
video analytics due to privacy and
security concerns related to confi-
dential data.
Transportation and logistics
strongest vertical
Transport and logistics is one of the
fastest-growing verticals during the
forecast period. Video surveillance
has become an important part of
the transportation and logistics ver-
tical. The various benefits of video
analytics for the transportation and
logistics vertical are the elimina-
tion of overcrowding, behaviour
analysis, enhanced safety measures,
incident recording, and detection
of blind spots. Video analytics can
contribute to the enhancement and
betterment of this vertical for com-
muters while providing improved
safety benefits. The various features
offered by video analytics, such as
facial recognition, object tracking,
unidentified object detection, cargo
and train carriage recognition, and
intelligent traffic monitoring, can
help transportation and logistics
companies prevent disasters and
detect emerging threats, which may
lead to infrastructure destruction
or vehicle crashing, resulting in the
loss of life.
Geographical spread
The video analytics market in
the APAC countries is expected
to witness exponential growth,
mainly because of the rising
awareness about the potential
security threats to individuals,
and the growing manufactur-
ing industry. The rapid growth
in mobile device manufacturing
has considerably reduced the cost
of camera components, thereby
making it cheaper for SMEs
and private individuals to install
surveillance cameras. In addition,
the rapid GDP growth in APAC
countries has resulted in infra-
structure modernisation projects,
such as smart city projects and
mass public transit systems, which
have increased the demand for
video analytics. The Yinchuan city
in China, for example, is cited as
one of the most advanced smart
cities in APAC, with almost all
infrastructure integrated into a
unified system. Singapore is also
moving toward the goal of becom-
ing a smart nation, which would
lead to an increased demand for
efficient video analytics.
The video analytics report
comprises many major providers,
such as Avigilon, Axis Communi-
cations, Cisco, Honeywell, Agent
Vi, Genetec, Intellivision, Hikvi-
sion, Dahua, Iomniscient, Hua-
wei, Intelligent Security Systems,
Verint, NEC, Briefcam, Bosch,
Senstar, Qognify, and Ipsotek to
name just a few of those included
in the study. The report includes
an in-depth competitive analysis
of key players in the video analyt-
ics market with their company
profiles, recent developments,
Covid-19 developments, and key
market strategies.
Security Technology
Market
d e t e k t o r i n t e r n a t i o n a l · 9
Advancements in deep learning and its integration with the edge system are also expected
to drive the adoption in the coming years.
Illustration: Ger
d Altmann, Pixabay
Edge-based video analytics evolves with
the emergence of new powerful in-built
chipsets in cameras that offer higher
computational capabilities at the edge."