Pune, India -- (SBWIRE) -- 08/11/2020 -- Global Video Analytics Market was valued at USD 4.6 billion in 2019 which expected to reach USD 13.55 billion by 2027 at a CAGR 19.2%.

The Video Analytics Market report, at first, has given a brief understanding of the industry through basic overview. This overview includes the market definition, key applications of the product, and the recent manufacturing technology employed for such production. The global Video Analytics market has been analyzed in detail to gain an understanding of the competitive landscape, key regional status, and recent trends noted in the relevant industry.

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Video analytics is defined as computerized processing and automatic analysis of the video content generated, monitored or collected during video surveillance. Video analytics automates video surveillance process by delivering high-end benefits to the users with reduced cost and efficient service delivery.

Market Drivers and Restraints
Increase in investments and focus of governing institutes on public safely is the key driving factor which is expected to boost the global video analytics market growth. Furthermore, rise in need to utilize and examine unstructured video surveillance data in real time will have the positive impact on market growth. Moreover, increase in need among enterprises to leverage BI and actionable insights for advanced operations will fuel the market growth. Also, growing use of facial recognition across various applications will drive market growth in near future.

However, high initial costs of investment, installation, and maintenance are the major restraining factors which are expected to hamper the global video analytics market growth. Also, increase in cyber-attacks and data theft activities as well as privacy concerns among citizens will affect the market growth.

Market Key Players
Various key players are discussed in this report such as CISCO, AXIS COMMUNICATIONS, AVIGILON, HONEYWELL, ALLGOVISION, AGENT VI, GENETEC, AVENTURA and IBM.

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Market Taxonomy
By Component
- Software
- Services
By Deployment
- On-Premise
- Cloud
By Organization Size
- Small and Medium Size Enterprises
- Large Enterprises
By Application
- Retail
- Healthcare
- BFSI
- Transportation & Logistics
- Government
- Manufacturing
- Mining
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa

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