What is Video Analytics Solution?
Video Analytics Solution are digital solutions comprising of hardware, software and services. Video Analytics Software are made up of complex algorithms, artificial intelligence and machine learning to detect or determine specific events or individuals and vehicles though face recognition and number plate detection. Video analytics solutions provides users with granular quantifiable data, remote monitoring, and smart alert and comprehensive detailed analysis report. With the growth of digitisation, better connectivity and rising applications of artificial intelligence, this market is expected to witness huge growth over the coming years. Geographically, North America is the biggest user of Video Analytics Solutions with Asia Pacific steadily catching up.
The market study is broken down by Type (Edge Based and Server Based), by Application (Real Time Monitoring, Crowd Counting, Traffic Management, Parameter Security and Others) and major geographies with country level break-up.
Analysts at AMA Research estimates that Players from North America will contribute to the maximum growth of Global Video Analytics Solution market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cisco Systems Inc. (United States), Motorola Solutions Inc. (United States), Aventura Technologies Inc. (United States), Axis Communications (Sweden), Honeywell International Inc. (United States), Huawei (China), KiwiSecurity (Austria), Hikvision (China), Digital Barriers (United Kingdom) and BriefCam (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are IntelliVision (United States), Genetec (Canada) and i2V (India).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Video Analytics Solution market by Type, Application and Region.
On the basis of geography, the market of Video Analytics Solution has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use , the sub-segment i.e. BFSI will boost the Video Analytics Solution market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Software will boost the Video Analytics Solution market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2021, Cisco Systems Inc. US based Global technology conglomerate has announced acquisition of Modcam AB, a Sweden based video analytics company. The acquisition will enhance Cisco’s Cisco Meraki MV's smart camera with the help of Modcam’s video analytics’ expertise. The deal was finalised at an undisclosed amount.
In 2021, Uniphore, India based Artificial Intelligence Company has announced acquisition of Spain based Emotion Research Labs. The Emotion Research Labs has been credited for expertise and research in identifying human emotions and eye tracking through use of artificial intelligence and machine learning. The acquisition will enable Uniphore to expand its portfolio in Video analytics by combining its speech tech with Emotion Research Labs emotion and eye tracking tech.
Market Trend
- Artificial Intelligence Enabled Video Analytics to Recognises Humans and Number Plates
Market Drivers
- Improvement in Connectivity Technology thus offering Better Remote Surveillance
- Increasing Investments in Smart City Infrastructure
Opportunities
- Asia Pacific Presents an Excellent Potential for Growth Owing to Rising Expenditure
- Rising Spending's on Defence & Military Infrastructure
Restraints
- High Initial Setup Costs
- Recurring Maintenance Costs of Hardware
Challenges
- Concerns Regarding Cyber Attacks & Privacy due to Face Detection
Key Target Audience
Video Analytics Solution Providers, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.