Deep Analysis of Impact of COVID-19 on “Video Analytics Market 2019-2025” Growth Worldwide….


The global video analytics market size is expected to reach USD 9.4 billion by 2025, according to a new study by Grand View Research, Inc., registering a 22.8% CAGR over the forecast period. Increasing demand for intelligent security surveillance systems, which can be used for estimating key trends and deriving patterns, is the key factor driving market growth. In addition, increasing concerns over public safety and use of video analytics in criminal investigations are positively impacting demand for video analytics solutions.
To address the surge of COVID-19, governments all over the world are developing stringent surveillance mechanisms to ensure that people in high-risk zones, or those instructed to be under strict home quarantine. Smartphone apps integrated with geotagging features have been rolled out by various governments to ensure adherence to social distancing. Health surveillance in the wake of this pandemic has essentially become a mic of technology and human intelligence. The updated report will account for Covid19 as a key market contributor.
Apart from surveillance, video analytics solutions have also found increasing application in the retail sector for estimating average footfall, gender bifurcation, display effectiveness, and attractiveness of shelf space. Furthermore, superstores and mega marts have started implementing these systems to gain insight into consumer behavior.
Use of advanced algorithm technology in video analytics enables examination of captured videos frame by frame, irrespective of light exposure, thereby making video analytics a reliable and efficient choice for ensuring security. Furthermore, industries such as transportation, retail, and healthcare are witnessing significant increase in the adoption of video analytics, owing to rising application of intrusion detection, license plate recognition, crowd management, and congestion detection in these industries.
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https://www.grandviewresearch.com/industry-analysis/video-analytics-market/request/rs1
Further key findings from the study suggest:
·         Facial recognition is expected to emerge as the fastest growing application segment with a CAGR of 25.9% from 2017 to 2025. This can be attributed to widening scope of facial recognition solutions for surveillance purposes at malls, events, airports, and public transport, among others
·         By type, the services segment is projected to register the highest CAGR of 24.0% for the next eight years. This can be attributed to increasing demand for and installation of video analytics solutions, which are, in turn, propelling demand for related managed and professional services
·         The cloud segment is anticipated to emerge as the most preferred deployment option for video analytics solutions as it offers flexibility and convenience, allows remote access, and provides easy maintenance
·         North America accounted for the largest share in 2016 and is driven by presence of prominent market players who consistently work on developing new and innovative technologies in video analytics
·         The retail end-use segment is anticipated to register the highest CAGR of 25.6% over the forecast period.  This may be attributed to use of video analytics in applications such as people counting, display and promotion effectiveness, product placement and store layout, and customer preference pattern analysis
·         Asia Pacific is expected to experience the highest growth from 2017 to 2025, driven by emerging economies such as India and China. These nations are expected to augment their expenditure on intelligent and security surveillance systems
·         Key industry participants include Cisco Systems, Inc.; Axis Communications AB; Bosch Security Systems GmbH; Agent Video Intelligence Ltd.; Honeywell International Inc.; IBM Corporation; AllGoVision Technologies Pvt. Ltd.; Genetec Inc.; Aventura Inc.; and i2v System Pvt. Ltd.
The global video analytics market size was valued at USD 1.6 billion in 2016. This growth can be primarily attributed to increasing concerns regarding safety and security of the public. In addition, growing application of video analytics for reducing crime rates through timely alerts about suspicious or unusual activities is a key factor driving the market.
Demand for intelligent video surveillance is further accelerated due to additional features such as improved accuracy, enhanced reliability, and cost-effectiveness, along with its growing significance in business intelligence. These solutions are extensively used to gain insights on patterns pertaining to consumer behavior, traffic movement, and frequency of footfall at a user-defined area.
Video surveillance plays a major role in carrying out safety-related operations. Public and private video surveillance systems assist in reducing crime rates and safeguarding private and public areas by identifying number plates and determining faces.

Moreover, video recording has become an integral tool in law procedures as it can be used for gathering evidence. Most businesses are also implementing video analytics to re-design their plans based on derived insights and are updating their product offerings based on induced consumer behavior patterns.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-video-analytics-market
Grand View Research has segmented the global video analytics market based on type, deployment, application, end use.
Video Analytics Type Outlook (Revenue, USD Million, 2014 - 2025)
·         Software
·         Services
Video Analytics Deployment Outlook (Revenue, USD Million, 2014 - 2025)
·         Cloud
·         On-premise
Video Analytics Application Outlook (Revenue, USD Million, 2014 - 2025)
·         Crowd Management
·         Facial Recognition
·         Intrusion Detection
·         License Plate Recognition
·         Motion Detection
·         Others
Video Analytics End-use Outlook (Revenue, USD Million, 2014 - 2025)
·         BFSI
·         City
·         Critical Infrastructure
·         Education
·         Government
·         Retail
·         Transportation
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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