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Video Analytics Market

Video Analytics Market Size, Share, Competitive Landscape and Trend Analysis Report by Component, Deployment Mode, Organization Size, Application : Global Opportunity Analysis and Industry Forecast, 2020-2027

IC : High Tech, Enterprise & Consumer IT

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Author's: Vikas Gaikwad & Rachita Rake | Onkar Sumant
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Video Analytics Market Statistics, 2027

The global video analytics market size was valued at $4,102.0 million in 2019, and is projected to reach $21,778.0 million by 2027, registering a CAGR of 22.7% from 2020 to 2027.

Video analytics is a computerized processing and automatic analysis of video content generated, collected, or monitored during video surveillance. While monitoring videos, the software identifies attributes, events, or patterns and characteristics of people or objects while ignoring irrelevant activities via video analysis of monitored environments. A large volume of unstructured video data is produced through video surveillance in industries, city surveillance, and through social media. Video analytics software also enables users to analyze, organize, and share insights gained from video data to help in making better decisions.


On the basis of component, the software segment was the highest revenue contributor in the video analytics market share in 2019. This was attributed to growth in need to monitor premises or any facility from any kind of physical threats or suspicious activities. In addition, precise image analysis, real-time processing, multiple visual inputs, and enhanced accuracy are factors that propel demand for video analytics software. However, the service segment is expected to exhibit highest growth rate during the forecast period, owing to increase in adoption of digital technologies across various industries and need to provide enhanced services. Thus, video analytics services help organizations in project consultation, configuration, installation, security monitoring, and other essential security services, which boosts video analytics market growth.

Video Analytics Market
By Component
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Service segment is projected as one of the most lucrative segments.

By deployment mode, the on-premise segment dominated the overall video analytics market in 2019, and is expected to continue this trend during the forecast period. This is attributed to adoption of on-premise deployment model by industries such as banking, financial services & insurance (BFSI), education, and healthcare, which are vulnerable to cyber-attacks or data breaching due to critical information.

North America is the leading market for video analytics and has a large number of major players who offer advanced video analytics solutions. Honeywell International, Inc., is one of the major players in the video analytics market in North America, which exhibits high investment in the solutions segment. Growth in demand for business intelligence and increase in demand for technologically enhanced public safety infrastructure drives the market in North America. For instance, in 2017, largest smart camera project for traffic data collection on the basis of video analytics was introduced by Citilog on the highway of Colombia.

However, Asia-Pacific is expected to observe highest growth rate during the video analytics market forecast period, owing to emerging trend of adopting video analytics in various sectors including retail and public sector, as well as the transportation industry. For instance, China applied Social Credit System, which uses extensive facial recognition of its citizen.

Video Analytics Market
By Region
North America 

Asia-Pacific region is projected as one of the most significant segments.

The report focuses on growth prospects, restraints, and video analytics market analysis. The study provides Porter’s five forces analysis of the video analytics industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the video analytics market trends.

Video Analytics Market
By Application
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Defense & Security segment is one of the most significant segments.

Segment Review

The global video analytics market is segmented on the basis of component, deployment, organization size, application, and region. By component, the market is classified into software and services. By deployment, the market is categorized into on-premise and cloud. On the basis of organization size, the market is bifurcated into large enterprises and small & medium enterprises. By application, the market is divided into retail, critical infrastructure, airports, public transport, police, defense and security, smart cities, hospitality, healthcare, BFSI, transportation & logistics, manufacturing, mining, and others. By region, the video analytics industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

Top Impacting Factors    

Rise in demand for automation of video tracking and management drives the demand for video analytics across various industries such as banking, financial services, retail, airports, manufacturing, and others. In addition, demand for IP-based security cameras, and growth in concern over safety and security pertaining to life & assets are expected to fuel the market growth during the forecast period. However, increase in number of false alarms during bad weather or poor lightning conditions and the high cost of initial installment are anticipated to restrict the market growth.

Furthermore, use of advanced technologies such as AI, machine learning with video analytics, rise in requirement of business intelligence and insights, and increase in need of edge-based analytics to recognize and profile applications are the major factors expected to provide opportunities for the market growth.

Increase in Demand for IP-based Security Cameras 

In the recent years, video management system is experiencing an augmented trend of IP-based surveillance systems, high-resolution IP cameras, and network video recorder (NVR). Increase in IP infrastructure, rise in tele density, and the demand for remote access drive the growth of IP-based security. Thus, market vendors are expanding their product portfolios offering integrated video analytics features with IP-based security cameras. For instance, in October 2019, Bosch launched “IP 3000i Cameras” with built-in essential video analytics solution.

The benefits of IP-based security cameras along with video analytics include remote accessibility, smart data capture, detecting blocked emergency exits or queue notifications, intrusion detection, crowd management, and facial recognition. Nowadays, the retail industry has implemented IP-based security cameras to capture behavior analytics with demographics. Thus, increase in deployment of IP-based security cameras across various business sectors propel the demand for video analytics solutions.

Use of Advanced Technologies Such as AI, Machine Learning with Video Analytics 

Key players in the market are continuously enhancing their product offerings to get a competitive edge and cater to changes in requirement of end users. Hence, they are utilizing advanced technologies such as AI, deep learning, and machine learning integrated with video analytics software. 

In addition, players in the video analytics market are introducing advanced AI-based video analytics solutions to provide autonomous way to monitor and enhance analysis of video content in real-time. For instance, in August 2019, Sprint launched “Curiosity Smart Video Analytics,” together with technologies from Hitachi Vantara and Ericsson. Furthermore, such use of these advanced technologies in video analytics can offer a dramatic increase in accuracy along with a significant reduction in false alarms, which has been a vulnerable point of video analytics applications in surveillance. Machine learning can also help in accurate classification of images and different types of objects. 

Rise in Number of Streaming Services

Introduction of streaming services such as Netflix, Amazon Prime Video, and Disney+ has provided consumers with more alternatives for watching TV series, movies, and original material online.  These services alter how consumers view videos and movie distribution models with their rise popularity.

Businesses are anticipated to distribute high-quality video content online more easily and affordably due to technological improvements. New competitors are expected to enter the market and compete with long-standing companies. In addition, alterations in consumer preferences have been a significant factor. Desires of consumers for convenience and flexibility are met by streaming services. Consumers are expected to watch their chosen TV episodes and movies on their own time without worrying about advertising or missing an episode.

Moreover, rise of streaming services has propelled new product development. Businesses invest heavily in original content, which is now a major differentiation for streaming services. High-quality movies and television shows have been produced as a result, and new talent has had possibilities to break into the business. All of these factors  foster global market expansion and are anticipated to do so during the forecast period.

Market Landscape & Trends

In the past few years, the field of video analytics has experienced remarkable technological advancement. A type of video analytics called object recognition includes identifying things in video data using computer algorithms. Applications for object recognition include surveillance, traffic monitoring, and retail analytics. Another subset used for  object recognition is facial recognition, use computer algorithms to locate people in video data. There are several uses for facial recognition, including security, marketing, and healthcare.

In the subject of video analytics, behavior analysis, and human behavior in video data are examined using computer algorithms. Applications for behavior analysis include customer behavior analysis, crowd monitoring, and healthcare. Using real-time computer algorithms to analyze video data is a recent development in video analytics. Security, traffic monitoring, and sports analysis are a few of the uses for real-time analytics. Furthermore, video analytics has been merged increasingly with other technologies like AI, machine learning, and the Internet of Things (IoT) to build more automated and intelligent systems.

COVID Impact Analysis

Post COVID-19, the size of the video analytics market is estimated to grow from $5,186.0 million in 2020 and projected to reach $21,778.0 million by 2027, at a CAGR of 22.70%. The current estimation of 2027 is projected to be higher than pre-COVID-19 estimates. With the emergence of the global health crisis, various business systems have been facing unprecedented challenges right from product development to sales and services, thereby leading to closure of companies. However, video content analysis and surveillance technology has gained a double fold growth to support government lockdowns and social distancing measures, which plays a significant role in containing the pandemic. 

In addition, outbreak of COVID-19 is anticipated to offer lucrative opportunities for key players operating in the global video analytics market. Although the market is gaining significant heights, owing to the COVID scenario, companies within the market are focused on improving overall quality of services, in terms of better throughput, negligible delay, and effective recognition technology. Hence, to achieve this, companies are integrating 5G and AI technology, thereby gaining a viable solution for issues such as latency and bandwidth. One of the most common use cases that is gaining popularity is its ability to extract information such as number of people who visited a place, age, demographic, and popularity.

Video Analytics Market
By Organization Size
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SMEs segment is projected as one of the most lucrative segments.

Key Benefits For Stakeholders

  • This study includes the video analytics market analysis, trends, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and video analytics market opportunity.
  • The video analytics market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in video analytics market.

Video Analytics Market Report Highlights

Aspects Details
By Component
  • Software
  • Services
By Deployment
  • On-premise
  • Cloud
By Organization Size
  • Small & Medium Enterprises
  • Large Enterprises
By Application
  • Retail
  • Critical Infrastructure
  • Airports
  • Public Transport
  • Police
  • Defense and Security
  • Smart cities
  • Hospitality
  • Healthcare
  • BFSI
  • Transportation & Logistics
  • Manufacturing
  • Mining
  • Others
By Region
  • North America  (U.S., Canada)
  • Europe  (UK, Germany, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Hong Kong, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, United Arab Emirates, Chile, Nigeria, Rest of LAMEA)
Key Market Players


Analyst Review

In accordance with the insights by CXOs of the leading companies, the video analytics market is expected to witness significant growth in the coming years. In the current scenario, businesses are using video management system to effectively monitor and track the process and progresses. The video surveillance is adopted in almost all types of industries including small & medium enterprise (SMEs), large enterprises, and residential buildings to meet safety & security demand, and keep a track of events. Some of the crucial applications of video analytics include facial recognition, incident detection, motion detection, perimeter intrusion detection, crowd detection & management, traffic & parking management, and others (number plate reading, dwell time counting, object recognition, and camera tampering detection). This enables effective traffic management, city surveillance, and observe processes, assets, and business operations. 

Post COVID-19 outbreak, emerging use cases of video analytics solutions to help combat COVID-19 is anticipated to provide lucrative opportunities for the expansion of the global video analytics market. Moreover, owing to the upgradation of technology, analytics solutions are more reliable and require less maintenance, thus driving the market growth. Furthermore, advancements in self-driving cars, robotics, and industrial automation are expected to boost the demand for this video analytics solutions in the long run.

Public safety and security have always been a matter of concern in several developed and developing regions. Rise in number of terrorist attacks and rapid urbanization are the major reasons for increasing concern over safety and security to life and assets, leading to the growth of this market. 

Video analytics software can be used on server-based as well as edge-based architecture. The demand for edge-based architecture is expected to be higher than server-based architecture. This high growth is driven by improved image capturing quality, faster analysis, and lower storage space requirements. Implementation services ensure comprehensive planning, installing, and configuration of the software. Video analytics services are expected to experience the highest growth rate as they are for long-term use and continue even after the deployment of the software. There is a huge investment made by the U.S. government to develop smart city solutions such as smart surveillance cameras integrated with AI based video analytics, automatic number plate recognition, vehicle fleet communication, and broadband infrastructure, which is expected to boost the growth of the video analytics market. Europe and Asia-Pacific are expected to grow at significant rates owing to lucrative opportunities offered by countries such as China, Germany, France, and India.

Author Name(s) : Vikas Gaikwad & Rachita Rake | Onkar Sumant

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Video Analytics Market

Global Opportunity Analysis and Industry Forecast, 2020-2027