ASIA-PACIFIC VIDEO ANALYTICS MARKET 2021-2028

ASIA-PACIFIC VIDEO ANALYTICS MARKET 2021-2028

MARKET OUTLOOK

Triton’s research report on the Asia-Pacific video analytics market suggests that the market is likely to develop at a CAGR of 19.50% during 2021-2028. India, South Korea, China, Japan, ASEAN countries, Australia & New Zealand, and Rest of APAC outline the market in this region.

Over the years, the Chinese economy has observed tremendous growth in the GDP. However, due to lack of funds in the research and development sector has resulted in little innovation. The government is striving to expand social security, education, and healthcare segments to tackle this situation. Here, video surveillance is gaining traction to support social security in the country, which is estimated to open new avenues for the video analytics market in the upcoming years.

The rising need for surveillance and security is becoming an imperative priority in China, stimulating the government to take measures to install surveillance cameras across major cities. Such developments in installing surveillance systems are likely to impact the video analytics market across China positively.

On the other hand, the tense situation between North Korea and South Korea has challenged South Korea’s internal security. Such threats to internal security have led the government to deploy a robust security system to monitor its border. Moreover, the government plans to adopt security cameras in public places for crime surveillance, traffic congestion, and other purposes. Hence, these factors are estimated to create new opportunities for manufacturers in the video analytics market.

COMPETITIVE OUTLOOK

Leading companies in the video analytics market are IBM, Mobotix, Hikvision, Bosch GmbH, Axis Communications, Dahua, and Gorilla Technology.