GLOBAL VIDEO ANALYTICS MARKET 2021-2028

GLOBAL VIDEO ANALYTICS MARKET 2021-2028

MARKET OUTLOOK

As stated in Triton Market Research’s report, the global market for video analytics is projected to progress at a CAGR of 16.05% through the period of 2021-2028.

Factors such as growth in the installation of surveillance cameras, security benefits offered by video analytics solutions, and surged need for surveillance for public safety, are driving the growth of the reviewed market through the considered period.

Additionally, increased video analytics applications in the healthcare industry are opening multiple opportunities for the global market. However, privacy concerns, lack of awareness, and the high cost of setup are negatively impacting the video analytics market’s development.

REGIONAL OUTLOOK

The global video analytics market covers Asia-Pacific, North America, Europe, the Middle East and Africa, and Latin America regions.

Globally, North America holds the largest market for video analytics. The governments are taking steps to implement advanced surveillance systems to increase security in government buildings and high-security areas. Moreover, authorities are adopting video analytics solutions to prevent security breaches. Furthermore, the presence of prominent video analytics companies, including IBM and Cisco, is supporting the growth of the studied market. Such developments are likely to fuel the expansion of the video analytics market across North America.

COMPETITIVE OUTLOOK

The key companies thriving in the video analytics market are Gorilla Technology, Bosch GmbH, IBM, Huawei, ADT Corporation, Dahua, Genetec, Axis Communications, Hikvision, Intellivision, Honeywell, Verint, Mobotix, i2V, and Cisco.

ADT Corporation is engaged in providing products, such as monitored security, interactive home and business automation, and other monitoring services. The company serves food & beverage companies, clinical, mechanical, and manufacturing facilities. Besides, its business operations are segmented into home & personal, small business, health & senior safety, and commercial. ADT has over 12 monitoring centers, with operations spread across various locations. It is headquartered in the United States.