Global Video Analytics Market Size To Exceed USD 70.71 Billion by 2033: Industry Report

Global Video Analytics Market Size To Exceed USD 70.71 Billion by 2033 

According to a research report published by Spherical Insights & Consulting, The Global Video Analytics Market Size is Expected to Grow from USD 11.61 Billion in 2023 to USD 70.71 Billion by 2033, at a CAGR of 19.80% during the forecast period 2023-2033.    

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Video Analytics Market Size, Share, and COVID-19 Impact Analysis, By Type (Software and Services), By Deployment (Cloud and On-premise), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033              

The video analytics market refers to the industry focused on the development, deployment, and use of advanced software and systems that analyse video footage in real-time or after recording. This technology applies machine learning, artificial intelligence, and computer vision techniques to automatically detect patterns, track movements, and identify anomalies. It is widely used in security surveillance, traffic management, retail, and other sectors to enhance operational efficiency, security, and decision-making processes. The market includes various solutions, such as facial recognition, object detection, and behaviour analysis. Moreover, driving factors in the video analytics market include increasing demand for security and surveillance solutions, advancements in AI and machine learning, growing adoption of smart cities, the rise of big data, and the need for efficient real-time monitoring. Additionally, the expansion of e-commerce and retail further fuels market growth. However, restraints in the video analytics market include high implementation costs, privacy concerns, data security issues, and the complexity of integrating with existing infrastructure. Additionally, regulatory challenges around data usage may limit market growth.

The software segment accounted for the largest share of the global video analytics market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on Type, the global video analytics market is divided into software and services. Among these, the software segment accounted for the largest share of the global video analytics market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is driven by the growing demand for advanced analytical tools, real-time monitoring, and automation in sectors like security, retail, and transportation. Software solutions offer scalability, integration ease, and advanced features like AI-powered analysis, boosting their market dominance.

The cloud segment accounted for a substantial share of the global video analytics market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the deployment, the global video analytics market is divided into cloud and on-premise. Among these, the cloud segment accounted for a substantial share of the global video analytics market in 2023 and is anticipated to grow rapidly during the projected period. Cloud-based solutions offer scalability, flexibility, and cost-effectiveness, making them popular for businesses seeking remote access, data storage, and real-time analysis. The rise of cloud adoption across industries like retail, security, and smart cities fuels its growth.

North America is projected to hold the largest share of the global video analytics market over the projected period. 

North America is projected to hold the largest share of the global video analytics market over the projected period.  This is driven by advanced technological infrastructure, high adoption of AI and machine learning, and growing security concerns. The U.S., in particular, leads in demand for video surveillance, smart cities, and commercial applications, boosting considerable market growth in the region.  

Europe is expected to grow at the fastest CAGR of the global video analytics market during the projected period.  The factors driving growth include the increasing adoption of smart city initiatives, robust security infrastructure, and advancements in AI technology. Countries like the UK, Germany, and France are key contributors to the demand for video analytics in sectors like retail and transportation.

Company Profiling

Major vendors in the global video analytics market are Huawei Technologies Co Ltd., Avigilon Corporation (Motorola Solutions, Inc.), IBM Corporation, Canon Inc., Irisity AB, Qualcomm Technologies, Inc., Honeywell International Inc., Cisco Systems, Inc., Robert Bosch GmbH, Claro Enterprise Solutions., and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In March 2023, Motorola Solutions launched its new Avigilon Security Suite, which brings together the Alta Cloud and Unity on-premise offerings to streamline security operations. The suite is intended to give organizations superior video surveillance features, enabling smooth management of security video and real-time monitoring. The integration is meant to enhance situational awareness and response time and provide scalable solutions adapted to different operational requirements.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global video analytics market based on the below-mentioned segments:

Global Video Analytics Market, By Type  

• Software
• Services

Global Video Analytics Market, By Deployment

• Cloud
• On-premise

Global Video Analytics Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa